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Global GNSS Testing Market is Projected to Grow USD 1783.45 Million by 2027 : Fior Markets

·4-min read
Fior Market Research LLP
Fior Market Research LLP

GNSS Testing Market by Type (Simulation Products, Record & Playback Products), Application (Government/Non-military, Government/Military, Labs/Institutes, Universities, Space, Chipset, Automotive/Drones/ CAV, Consumer devices, Precision Agriculture, Rail & Road), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast to 2027

Newark, NJ, May 16, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global GNSS testing market is expected to grow from USD 793.26 million in 2019 to USD 1783.45 million by 2027, at a CAGR of 10.64% during the forecast period from 2020-2027. North America held the most significant market share and valued at USD 299.60 million in 2019. Early adoption of technologies and highly developed infrastructure, which supports GNSS testing, are some of the prominent factors fueling the growth of the market in the North America region. On the other hand, the Asia Pacific region is projected to grow at the highest CAGR of 14.68% over the forecast period. Countries such as China, Japan, and India are exploring and deploying the satellites to build their GNSS system and to strengthen their capabilities. For instance, in the year 2018, the Chinese government started an initiative to encourage the use of its BeiDou global navigation satellite system (GNSS) in the Asian countries for various applications such as transportation, disaster management, and precision agriculture. India also has its own global navigation satellite system (GNSS) system Navigation Indian Constellation (NavIC) designed to cover the Indian region and 1500 km around the Indian mainland.

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Key players in the global GNSS testing market are Spectracom, Racelogic, National Instruments, Rohde & Schwarz, Agilent/Keysight Technologies, UNINAV (SNRGNSS), Ifen, Skydel, Syntony, Supernavi, and Spirent among others. Key companies are mainly focusing on the research and development activities to develop new systems and to enhance the features of existing GNSS systems. For instance, in September 2019, Racelogic announced the introduction of new GNSS data logger, a new generation of highly flexible, enhanced accuracy GNSS data loggers, for the use in many types of automotive tests such as acceleration, braking, and speed verification.

The type segment includes simulation products and record & playback products. The simulation product segment is projected to grow at the highest CAGR of 10.98% over the forecast period. Simulation products provide high accuracy and precise tool to evaluate the performance of GNSS receivers. In addition to this, it is a highly efficient and cost-effective method for GNSS testing, driving the growth of the market. The application segment classified into government–non-military, government–military, labs/institutes, universities, space, chipset, automotive/drones/CAV, consumer devices, precision agriculture, and rail & road. The automotive/drones/CAV segment accounted for a major market share of 28.56% in the year 2019. With the increasing trend of autonomous cars across the globe, the need for the GNSS system is likely to increase to navigate the vehicles.

High development of software and various simulators products for GNSS testing is propelling the market growth of GNSS testing. In addition to this, increasing demand for high accuracy and sensitivity, further driving the growth of the market. Furthermore, various governments are supporting the development of the GNSS system, offering multiple growth opportunities for major vendors. However, factors such as offset of the satellite antenna and site displacement effects result in inaccurate testing, which could hamper the market growth over the forecast period.

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About the report:

The global GNSS testing market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.

About Fior Markets

Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others.

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