PORTLAND, ORAGON, UNITED STATES, October 11, 2022 /EINPresswire.com/ — Allied Market Research printed a report, titled, “Navigation Satellite Systems Market by Component (Devices, Services), by Type (Global Constellations, Regional Constellations, Satellite-based Augmentation Systems), by Application (Consumer and Health Solutions, Road and Automotive, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031”. According to the report, the worldwide navigation satellite tv for pc methods trade generated $225.30 billion in 2021, and is anticipated to generate $552.20 billion by 2031, witnessing a CAGR of 9.5% from 2022 to 2031.
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Covid-19 Scenario
The outbreak of the Covid-19 pandemic had a optimistic impression on the worldwide navigation satellite tv for pc methods market.
Global navigation satellite tv for pc system (GNSS) has been used for quarantine monitoring and enforcement. It was utilized to arrange a digital perimeter for these people who find themselves in self-quarantine by a course of generally known as geofencing. For occasion, in South Korea, authorities made it obligatory for anybody getting into the nation to obtain “Self-Quarantine Safety Protection Application” for his or her 14-day self-quarantine.
GNSS-based purposes have additionally been used to assist precautionary measures. Location measures gained by use of GNSS have helped determine, map, and tag congested locations and places the place people who’ve examined optimistic or have just lately travelled. This knowledge enabled the authorities to present details about the locations which want to be averted.
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Based on part, the companies phase held the best market share in 2021, accounting for round three-fourths of the worldwide navigation satellite tv for pc methods market, and is estimated to keep its management standing all through the forecast interval. Moreover, the identical phase is projected to manifest the best CAGR of 10.4% from 2022 to 2031. The companies offered by international navigation satellite tv for pc system have purposes in a number of sectors akin to agriculture, fleet administration, shopper electronics, and others, which drives the phase. The report additionally identifies the gadgets phase.
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Leading Market Players: –
Furuno Electric
Hemisphere GNSS
Hexagon
L3 Harris Corporation
Laird Plc
Navtech GPS
Qualcomm Inc
Texas Instruments
Topcon Corporation
Trimble Inc.
Garmin Ltd,
Raytheon Technologies Corp.
SkyTraq Technology. Inc.
STMicroelectronics
Broadcom Inc.
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Based on area, Asia-Pacific held the best market share in phrases of income in 2021, accounting for practically two-fifths of the worldwide navigation satellite tv for pc methods market, owing to rise in growth of cost-effective navigation satellite tv for pc system and excessive funding in protection, retail, navy, and public transportation sectors. However, the LAMEA area is predicted to witness the quickest CAGR of 12.3% from 2022 to 2031. This is due to surge in overseas investments coupled with authorities investments.
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Similar Reports We Have on Satellite Industry:
GNSS Simulators Market by Component Type (Single Channel, and Multichannel), GNSS Receiver (GPS, Galileo, GLONASS, and BeiDou), and Application (Vehicle Assistance Systems, Location-based Services, and Mapping): Global Opportunity Analysis and Industry Forecast, 2021–2030.
Military GNSS Anti-Jamming Systems Market by Type (Border Security, Aviation Security, Maritime Security, and Others), Component (Antenna, and Receiver Unit), and Element Numbers (Two-Element, Four-Element, Seven/Eight Element, and Twelve/Sixteen Element): Global Opportunity Analysis and Industry Forecast, 2021–2030.
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