High-precision GNSS Receiver Market

The global High Precision GNSS Receiver Market is valued at USD 1.3 Billion in 2022 and is projected to reach a value of USD 2.51 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 8.7% between 2023 and 2030.

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The global High Precision GNSS Receiver receiver market is undergoing a revolutionary shift, with the fast adoption of multi-constellation receivers accounting for more than 70% of the market share. This spike is driven by unprecedented accuracy gains of up to 30% by combining signals from satellite constellations such as GPS, GLONASS, Galileo, and BeiDou. Self-driving cars, drones, and precision agriculture equipment are leading the way in this boom, accelerating the market's trajectory over the projection period.

Integrating High Precision GNSS Receiver technology with the Internet of Things (IoT) drives a 40% increase in demand for asset tracking and fleet management applications. Incorporating GNSS receivers into the IoT ecosystem transforms industries, including transportation, logistics, and supply chain management. Real-Time Kinematic (RTK) and Precise Point Positioning (PPP) approaches are expected to account for 15% of the market by 2025. With centimeter-level accuracy provided by these approaches, sectors such as construction, surveying, and geodesy are primed for fast transformation.

The COVID-19 epidemic caused supply chain disruptions and project delays in the High Precision GNSS Receiver receiver industry, affecting businesses such as construction and surveying. It has, however, sparked innovation, hastened digital transformation, and underlined the necessity of precise positioning technology in applications such as remote work, disaster response, and precision agriculture. The market is rebounding as economies recover and adapt, driven by growing demand for efficiency improvements and resilient solutions across multiple sectors.

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Key Highlights

• Asia Pacific generated more than 38.5% of revenue share in 2022
• North America is expected to grow at the fastest rate from 2023 to 2030
• Based on type, the Satellite-Based Augmentation Systems (SBAS) segment contributed a significant revenue share in 2022
• Based on application, the Navigation part recorded the most important market share in 2022

Economic Insights

The High Precision GNSS Receiver receiver market is expected to increase at a healthy annual pace of around 8% over the next five years. Notably, the construction industry is expected to account for 30% of the market, with agriculture accounting for 25%, logistics accounting for 20%, and autonomous cars accounting for 15%. The market's economic significance is demonstrated by its ability to generate over 500,000 new employment globally while promoting a spectacular 25% increase in operational efficiency and a significant 30% reduction in resource wastage. Furthermore, the confluence of High Precision GNSS Receiver technology with new technologies such as the Internet of Things (IoT) and artificial intelligence is expected to increase its economic effect by 15%, boosting data-driven decision-making and sustainable development efforts.

Top Market Trends

• The rise of multi-constellation receivers: The popularity of multi-constellation receivers is growing, as these GNSS equipment capable of tracking multiple constellations, such as GPS, GLONASS, Galileo, and BeiDou, is increasing. This increase in demand is related to their capacity to provide superior positioning precision when compared to receivers limited to tracking a single constellation.
• Growing Demand for Autonomous Vehicles: The automotive sector began incorporating High Precision GNSS Receiver receivers into autonomous vehicles for accurate navigation, lane-keeping, and collision avoidance. These receivers were critical in allowing safe and dependable self-driving capabilities.
• Integration with Other Technologies: High Precision GNSS receivers were integrated with technologies such as Inertial Measurement Units (IMUs) and LiDAR systems to improve positioning accuracy and robustness in demanding situations.
• Development of new GNSS-based applications: Precision agriculture, asset tracking, and wildlife monitoring are just a few of the new applications for GNSS. This is increasing the demand for High Precision GNSS Receiver receivers capable of meeting the unique requirements of these applications.

Market Segmentation

The Global High Precision GNSS Receiver market can be categorized into Product, Application, and Region.

The market is bifurcated based on the product into Core Satellite Navigation Systems, Regional Satellite Navigation Systems, and Satellite-Based Augmentation Systems (SBAS). Based on the application, the High Precision GNSS Receiver market has been segmented into Navigation and Positioning. Likewise, the market is segmented based on Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Product

Satellite-Based Augmentation Systems (SBAS) hold the largest share

Satellite-Based Augmentation Systems (SBAS) have grabbed the highest market share in the High Precision GNSS receiver environment. They effectively provide accurate location data by rectifying flaws inherent in Global Navigation Satellite System (GNSS) signals. SBAS systems, suitable for aviation, maritime, and land transportation applications, are gaining popularity because of their remarkable precision and dependability. Furthermore, their low cost increases their attractiveness across multiple industries. As the demand for pinpoint accuracy grows, SBAS systems are positioned to maintain dominance in the High Precision GNSS Receiver receiver arena.

Based on Application

Navigation will dominate the market during Forecast Period

The navigation application category is expected to dominate the High Precision GNSS Receiver receiver market throughout the projected period due to increasing demands for pinpoint accuracy across varied navigation realms. The surge in demand for precise positioning in various navigation domains, such as automotive navigation, lane departure warning, and collision avoidance; aviation navigation, including landing and air traffic control; marine navigation, including docking and search and rescue; and land transportation applications, such as asset tracking, and mapping, fleet management, is propelling this segment's ascendancy.

Based on Region

Asia Pacific will lead the market

Asia Pacific will lead the High Precision GNSS Receiver receiver market over the projected period. The region's rising demand for precise positioning across various applications, including the rapidly expanding automotive, aviation, maritime, and land transportation industries, is driving its rise to prominence. A significant increase in infrastructure expenditure fuels this need, notably in the surveying and mapping domains. Furthermore, prominent GNSS receiver manufacturers such as Javad GNSS, Topcon Positioning Systems, and Hemisphere GNSS have a significant presence in Asia Pacific, bolstering research and development efforts that drive market expansion.

Competitive Landscape

The global High Precision GNSS Receiver receiver market is fragmented and competitive, combining well-established players, niche companies, and emerging entrants. Some key manufacturers held significant market shares and contributed to a certain degree of consolidation, while numerous smaller companies and startups offered specialized solutions. For instance, Thales Alenia Space, ASECNA, Geoflex, and NigComSat are working together to speed the development of a Satellite-Based Augmentation System for Africa and the Indian Ocean that will provide precise point positioning (PPP and (NES/Geoflux)) and risk warnings for a wide range of African applications.

The global High Precision GNSS Receiver market players include Cobham, Texas Instruments, Broadcom, Laird, Rockwell Collins, Hexagon, Qualcomm, CSR, Trimble Navigation, and Furuno Electric.

Recent Market Developments

• July 2022:Thales Alenia Space, ASECNA, Geoflex, and NigComSat are working together to speed the development of a Satellite-Based Augmentation System for Africa and the Indian Ocean that will provide precise point positioning (PPP and (NES/Geoflux)) and risk warnings for a wide range of African applications.

Segmentation of the Global High Precision GNSS Receiver Market