DUBLIN--(BUSINESS WIRE)--The "GNSS Simulators Market by Component, Type (Single Channel, Multichannel), GNSS Receiver (GPS, Galileo, GLONASS, BeiDou), Application (Vehicle Assistance Systems, Location-based Services), Vertical, and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Global GNSS Simulators Market Size is Expected to Grow from USD 100 Million in 2019 to USD 157 Million By 2024, at a CAGR of 9.4%
Global GNSS Simulators market size to grow at a Compound Annual Growth Rate (CAGR) of 9.4% during 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.
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.
- Rapid Penetration of Consumer IoT
- Growing Demand for Wearables
- Lack of Digital Infrastructure
- Growing Demand for Unmanned Aerial Vehicles (UAVS)
- Advent of Software-Defined Radio (SDR) GNSS Simulators
- Lack of Geodetic Infrastructure
- Increase in Jamming and Spoofing Attacks
- European Union's Regulation No. 1285/2013 - Implementation and Exploitation of European Satellite Navigation Systems
- European Union's Regulation No. 2015/758 - Ecall In-Vehicle System
- US Space-Based Positioning, Navigation, and Timing Policy
- ICAO Policy on GNSS
- Accord Software & Systems
- CAST Navigation
- Galileo Satellite Navigation
- Hyper Tech
- Jackson Labs Technologies
- Rohde & Schwarz
- Spirent Communications
- Syntony GNSS
- WORK Microwave
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