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According to a new research report, “GNSS Simulators Market by Component Type (Single Channel and Multichannel), GNSS Receiver (GPS, Galileo, GLONASS and BeiDou), Application (Vehicle Assistance Systems, Location-based Services and Mapping), Vertical, and Region — Global Forecast to 2025,” the market is estimated to grow from $106 million in 2020 to $165 million by 2025, at a compound annual growth rate (CAGR) of 9.3% during the forecast period.
Factors such as rapid penetration of consumer internet of things, the contribution of 5G in enabling ubiquitous connectivity and increasing use of wearable devices utilizing location information are expected to drive the adoption of the GNSS simulators hardware, software and services, the MarketsandMarkets report said.
Market segments
The report stressed several key points in regard to the hardware segment, automotive vertical segment and GPS segment.
The GNSS simulators market, by component, is segmented into hardware, software and services. Of these three, the hardware segment is expected to account for a larger market size in the coming years in the GNSS simulators market as it enables signal simulations and plays a key role in the simulation process.
The GNSS simulators market, by vertical, is segmented into military and defense, automotive, consumer electronics, aerospace, marine and other verticals (agriculture, construction, and rail and road). According to the report, the automotive vertical segment is expected to hold a higher CAGR during the forecast period in the GNSS simulators market.
“GNSS offers a cost-effective and accurate way of determining position in real-time,” the report said. “Ride-sharing apps, such as Uber and Lyft, car-sharing, usage-based insurance apps, dynamic toll charging and parking apps all depend on the real-time location of the car. GNSS offers sufficient accuracy for all these apps by providing location coordinates leading to its adoption in the automotive vertical.”
Next, GNSS receivers are segmented into GPS, GLONASS, Galileo, BeiDou and others, with the others comprised of NavIC and QZSS receivers. The satellite tracking service provided by GPS is useful in various commercial and personal applications. The increasing commercial application of GPS vehicle tracking system for taxi companies and cab services is contributing to the rising adoption of GPS location services. It makes the navigation easier by providing relevant details, such as distance and shortest route to the desired location, the report said.
Market size and location
North America is expected to have the largest market size during the forecast period, with the key factor favoring the growth of the GNSS simulators market in North America being the increase in technological advancements coupled with the rise in government support for the adoption of UAVs. The increasing number of players across different regions is also further expected to drive the GNSS simulators market globally, the report said.
In addition, Asia-Pacific is projected to grow at the highest CAGR during the forecast period, as it has witnessed considerable developments and adoption of solutions across the region. According to the report, Asia-Pacific has a large potential for GNSS and space-enabled applications, and it has a wide consumer base due to its booming economies accompanied by an increasing share of local R&D and technology innovations.
Major players
Major vendors in the global GNSS simulators market include Spirent Communications, Rohde & Schwarz, VIAVI Solutions, Hexagon, Keysight Technologies, u-blox, Orolia, Cast Navigation, Accord Software and System, IFEN, Racelogic, Syntony GNSS, Teleorbit, iP-Solutions, Pendulum Instruments, Saluki Technology, Shanghai Huace Navigation Technology, Averna, GMV NSL, Brandywine Communications, Jackson Labs Technologies, Hunan Shuangln Electronic Technology, Work Microwave, Qascom and M3 Systems.