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Global GNSS Simulators market size to grow at a Compound Annual Growth Rate (CAGR) of 9.4% during forecast period
The global GNSS simulators market size is expected to grow from USD 100 million in 2019 to USD 157 million by 2024, at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period. The major factors fueling the market growth include the growing penetration of consumer IoT products and unmanned aerial vehicles (UAVs). These factors are leading to a rise in the need for precise GNSS simulators to test various consumer devices.
Services segment to grow at the highest CAGR during forecast period
The GNSS simulators market is segmented based on component into hardware, software, and services. The services segment is expected to grow at a rapid pace during the forecast period. The growth of this segment can be attributed to the need to maintain and update the deployed GNSS simulator software and solutions.
Vehicle assistance systems segment to grow at the highest CAGR during forecast period
The GNSS simulators market, based on application, has been segmented into navigation, mapping, surveying, location-based services, vehicle assistance systems, and others (timing and synchronization, gaming, weather forecasting, and telematics). The growth of the vehicle assistance systems segment is attributed to the benefits such as adaptive cruise control, adaptive light control, automatic parking, collision avoidance systems, driver drowsiness detection, intelligent speed adaptation, and night vision provided by these systems.
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Asia Pacific (APAC) market to grow at the highest CAGR during forecast period
The GNSS simulators market in APAC is expected to grow at the highest CAGR during the forecast period. The large base of manufacturing companies and increasing demand for connected devices in major APAC countries, such as China, South Korea, India, Australia, and Japan, and increasing government regulations are expected to drive the growth of the market in APAC.
In-depth interviews were conducted with chief executive officers (CEOs), innovation and technology directors, hedge fund managers, and executives from various key organizations operating in the GNSS simulators market.
- By Company: Tier II - 55% and Tier III - 45%
- By Designation: C-Level - 60%, Director Level - 20%, and Others - 20%
- By Region: North America - 30%, APAC - 20%, Europe - 40%, MEA - 5%, and Latin America - 5%
The report includes the study of the key players offering GNSS simulators solutions. The major vendors include Spirent Communications (US), Rohde & Schwarz (Germany), Syntony GNSS (France), Orolia (France), CAST Navigation (US), Accord Software & Systems (India), IFEN (Germany), RACELOGIC (England), TeleOrbit (Germany), Jackson Labs Technologies (US), iP-Solutions (Japan), Hyper Tech (US), WORK Microwave (Germany), Qascom (Italy), M3Systems (France), and Galileo Satellite Navigation (Israel). It includes an in-depth competitive analysis of the key players in the GNSS simulators market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
- The report segments the GNSS simulators market by component, type, GNSS receiver, vertical, and region.
- The GNSS simulators market, by component is divided into hardware, software, and services.
- The type segment comprises single channel simulators and multichannel simulators.
- The GNSS receiver segment comprises GPS, Galileo, GLONASS, BeiDou, and others (NavIC and QZSS).
- The application segment is further segmented into navigation, mapping, surveying, location-based services, vehicle assistance systems, and others (timing and synchronization, gaming, weather forecasting, and telematics).
- The vertical segment includes military & defense, automotive, consumer electronics, aerospace, marine, and others (agriculture, construction, and rail & road).
- The report also covers the GNSS simulators market with respect to 5 major regions: North America, Europe, APAC, Latin America, and Middle East & Africa (MEA).
The report would help the market leaders and new entrants in the GNSS simulators market in the following ways:
- The report segments the market into various subsegments; hence, it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across verticals and regions.
- It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
- It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market.
- The study also presents the positioning of the key players based on their product offerings and business strategies.