GNSS Equipment Market size was valued at $160.30 billion in 2020, and it is estimated to grow at a CAGR of 12.80% during 2021-2026. GNSS stands for Global Navigation Satellite System and is integrated with Global Positioning System systems to manage precise location positioning anywhere on earth. The advancement in smartphone technologies, increasing use of mobile augmented reality and digitalization are some of the significant factors that propel the growth of the GNSS Equipment market globally. Moreover, the significant penetration of satellite positioning in-vehicle systems and growing demand for location-based services for personal tracking for efficient fleet operation solutions to manage warehouses along with the overall supply chain hub are set to drive the market. In addition, with the growing end-users of consumer electronics and wearable with embedded GLSS equipment, along with the increasing investments by the companies like Tesla and Mercedes-Benz for denoting autonomous driving and other respective Automatic vehicle location features are estimated to boost the GNSS Equipment Industry.
Do. Apr 25th, 2024
