Engaging market stakeholders in the development of innovative and effective GNSS applications, value-added services and user technology is a core function of EUSPA. EUSPA’s Market, Downstream and Innovation Department extensively monitors the GNSS downstream market, mining and distilling intelligence and making market forecasts to support European businesses and the global GNSS marketplace.
Strong growth expected in GNSS value-added services
Global navigation satellite systems (GNSS) allow users with compatible devices to determine their position, velocity and time by processing signals from satellites. GNSS signals are provided by a variety of satellite positioning systems, including global constellations (Galileo, GPS, GLONASS, BeiDou), regional systems (e.g. QZSS and IRNSS) and satellite-based augmentation systems (SBAS), such as EGNOS or WAAS.
The global GNSS downstream market revenues, covering both device sales and service-related revenues, is expected to grow at a CAGR of 9.2% over the next decade, reaching a total of €492 billion by 2031. Combined, services revenues (i.e. both added-value services and augmentation services) will account for €405 bn in 2031, more than 82% of the total Global GNSS downstream market revenues.
Between 2021 and 2031, annual shipments of GNSS receivers are forecasted to grow from 1.8 billion units to 2.5 billion units. The vast majority are associated with the Consumer Solutions, Tourism and Health segment which contributes roughly 92% of all global annual shipments thanks to the enormous numbers of smartphones and wearables being sold on an annual basis.
Road and Automotive dominating with Consumer Solutions
In terms of revenues, the Road and Automotive and Consumer Solutions dominate all other market segments and will account for a combined 90% of cumulative revenues over the 2021-2031 period. In the Road sector, most revenues are generated by devices used for navigation (In-Vehicle Systems (IVS)), emergency assistance, ADAS as well as fleet management applications (including insurance telematics), whereas Consumer Solutions revenues mainly come from the data revenues of smartphones and tablets using location-based services and applications.
Focusing on the remaining revenues, more than 80% of these will be generated by Agriculture (37%), Urban Development (26%) and Infrastructures (20%). Revenues in Agriculture are primarily generated from commercial augmentation services and automatic steering equipment, while the primary sources of revenue in Urban Development and Infrastructures are linked to Geomatics applications (mapping and surveying, construction operations, and site selection or monitoring).
To learn more about the GNSS market, please download the EUSPA EO and GNSS Market Report.