GNSS Devices Market Top Scenario, Swot Analysis, Business Overview & Forecast

GNSS refers to global navigation satellite system. This device allows users to determine their position and velocity at a specific time by transmitting signals from satellites.
Globally, GNSS and positioning is a significantly growing geospatial technology segment.

The growing demand for precise location information is stimulating the growth of the GNSS devices market.
Rapidly expanding demand for smartphones and smart consumer electronic devices has augmented the demand for GNSS devices.
Increasing demand for IoT enabled consumer devices is expected to create ample growth opportunities for GNSS devices across the world.
Technological advancements in GNSS devices such as powerful processors, superior power batteries, and improved satellite signal processing are expected to drive the growth of the GNSS devices market. Numerous applications of GNSS devices in the IT and engineering sector has contributed largely to the growth of the GNSS devices market.
Supportive government initiatives for development of smart cities is expected to boost the growth of the GNSS devices market.
However, inability of GNSS devices to provide accurate indoor, underwater, or underground navigation is expected to be a major factor limiting the growth of the GNSS devices market in the upcoming years.
In addition, GNSS devices consume substantial power. This is expected to hamper the adoption rate of these devices among users, thereby limiting the growth of the market in the coming years.

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On the basis of device type, the global GNSS devices market can be divided into smartphones, personal navigation devices, and in-vehicle systems.

The smartphones segment accounted for major market share in 2018 due to growing use of location-service features on smartphones. This segment is projected to maintain its dominance in the global GNSS devices market throughout the forecast period.
On the basis of end-user industry, the GNSS devices market is segmented into automotive, agriculture, maritime, rail, aerospace & defense, and other end-user industries.
Application of GNSS devices in automotive industry accounted for leading market share due to rising demand for location-based services.