The GNSS Market is to Touch $355.3 Billion by 2030; Improvements in GNSS Technology and Rising Demand for Location-Based Services propels market growth.

The GNSS Market size is estimated to reach $355.3 Billion by 2030, growing at a CAGR of 9.6% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “GNSS Market – By Equipment (Smart Antennas, Receivers, Field Controllers, and Others), By Satellite System (GPS, Galileo, GLONASS, NavIC, QZSS, BeiDou, and Others), By Application (Time Synchronizing, Location Based Services, Unmanned Systems, Surveying & Mapping, Navigation, and Others), By End-Use Industry (Construction, Media & Entertainment, Mining, Consumer Electronics, Marine, Agriculture, Aviation, Astronautics, Transportation, Telecom & IT, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030” GNSS Technology and Rising Demand for Location-Based Services are fueling the growth of the GNSS industry during the forecast period.

In the GNSS market, the APAC region is projected to hold a significant share of 37% in 2023. This dominance can be attributed to the presence of major consumer electronics manufacturers like Quectel Wireless and Navika Electronics, along with a range of ongoing technological advancements such as wearable devices and smartphones that utilize real-time data for tracking and recording purposes. Additionally, the 12th Multi-GNSS Asia Annual Conference is scheduled for March 10-11, 2022, where GNSS.asia will host its own session. Organized by the MGA (Multi-GNSS Asia), this conference brings together international experts to promote the adoption of multi-GNSS in the Asia and Oceania regions and to support service providers and user communities in developing new applications and businesses.

The rising demand for location-based services across diverse sectors, including transportation, agriculture, construction, logistics, and emergency response, is a major factor propelling the GNSS market. GNSS technology provides precise positioning, navigation, and timing capabilities crucial for applications such as vehicle tracking, fleet management, precision agriculture, asset tracking, and geospatial mapping. As businesses and consumers increasingly depend on location-based services for enhanced efficiency, safety, and convenience, the demand for GNSS solutions continues to grow, fueling market expansion. However, it is important to note that location-based systems do not fully align with the standardized definitions of real-time locating systems (RTLS) and associated local services, as outlined in ISO/IEC 19762-5 and ISO/IEC 24730-1. While networked computing devices are effective in delivering data that may be days old, these devices can also be tracked in real-time.

The advancement of standardized digital communications, exemplified by the Highway Addressable Remote Transducer (HART) protocol, plays a crucial role in ensuring reliable communication and safety alerts during gas leak incidents. The HART protocol facilitates two-way communication, enabling data exchange between Global Navigation Satellite Systems (GNSS) and control systems, thereby providing real-time advantages to industries by delivering accurate data. Additionally, wireless integration allows for continuous monitoring of gas levels and environmental conditions, triggering immediate alerts and notifications to operators or personnel in case of gas leaks, anomalies, or hazardous situations. This wireless approach not only reduces installation time and labor costs but also minimizes maintenance needs and enhances system reliability, ultimately resulting in significant cost savings and productivity improvements throughout the system's lifecycle.