Global navigation satellite system (GNSS) market size worldwide 2019-2029

In 2019, the global navigation satellite system (GNSS) market was valued at 150.7 billion euros, with forecasts for 2029 suggesting that this is likely to rise to 324.4 billion euros. The Asia-Pacific region leads the way, accounting for more than 30 percent of revenues generated by the GNSS market in 2019.

Key players in the GNSS market

The market includes component and receiver manufacturers like Broadcom and Qualcomm; device vendors like Apple and Fitbit; as well as service and content providers like Google and Microsoft. With the advent of smartphones and wearables, navigational systems and services are now often integrated into one device – eliminating the need for separate navigational devices. In terms of regions, Asia-Pacific leads the way both for revenue generated by the GNSS market, as well as the installed base of GNSS devices.

GNSS market and the automotive industry

In addition to the consumer elements of the global navigation industry, the automotive segment forms an important part of the market. The rise of connected cars has seen a dramatic development in the complexity of navigational services being utilized within vehicles: vehicles that are becoming more intelligent and more automated. Such programs and services are designed to assist the driver – more than just by providing simple directional guidance – helping to avoid car crashes and congestion, as well as reduce road transport-related carbon dioxide emissions.