LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global navigation satellite system (GNSS) market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global GNSS market is segmented on the basis of following applications:
- LBS
- Road
- Aviation
- Rail
- Maritime
- Surveying
Though location-based service (LBS) is a major segment in the market in terms of revenue, the road segment is expected to show massive growth during the forecast period. Vendors such as Qualcomm, Broadcom, and SkyTraq are marketing their GNSS chipsets on the basis of connected cars, which will witness a significant growth during the forecast period.
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The top four emerging trends driving the global GNSS market according to Technavio hardware and semiconductor research analysts are:
- Growing popularity of IoT and machine to machine (M2M) communication
- Emergence of big data
- Growing popularity of smart cities
- Multimodal logistics
Growing popularity of IoT and M2M communication
“The IoT provides interconnectivity to uniquely identifiable devices. Due to internet protocol version 6, all physical objects now have a unique address and can communicate with each other,” says Sunil Kumar Singh, a lead embedded systems research analyst at Technavio.
More and more organizations, industries, and technologists are adopting the IoT because of its huge possibilities and numerous advantages. Some of the advantages of IoT are given below:
- Greater convenience
- Optimized decision-making
- Ease of handling emergencies
- Cost cutting
- Enhanced quality of living
- Remote control access
- Time management
- Commercial benefit
- Better safety and security
Emergence of big data
“The global data volume is growing at a rapid rate. Big data is the collection of large amounts of data produced by various sources such as geography, weather, research, transport, and energy consumption. Data can either be created or generated from various sources, such as GNSS receivers or Earth Observation satellite imagery,” says Sunil.
For instance, in the road segment, the GNSS-based positioning of vehicles contributes to the production of floating car data, a source for traffic modeling and management. Similarly, applications exist in the LBS segment, with smartphones generating data with positioning information by actions performed by the users.
Growing popularity of smart cities
Governments worldwide are investing heavily in the development of smart cities. Smart cities depend on public Wi-Fi networks to offer services such as healthcare, education, infrastructure management, safety and security, traffic management, and waste and water management for consumers. The networks help citizen gain access to the internet on their smartphones and tablets. They offer location-based services that can be used by city planners to understand the functioning of a smart city and offer better services to its citizens.
Multimodal logistics
GNSS-based solutions are ideal for on-the-route positioning, enabling operators to monitor goods and assets during their transfer between different transport nodes and hubs. GNSS-based information, for instance, situating and timing, can be combined with data regarding the status of the holder and the freight, along with radio-frequency identification (RFID) situating for resource and merchandise recognizable proof at center points. This data is transmitted to logistic administrators and their customers to enhance proficiency and adequacy of transport exercises and to oversee crises by identifying the place of impact.
Containers are equipped with GNSS-based devices like an ISO 6346 BIC code, which helps in real-time tracking.
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