GNSS Simulators Market worth $165 million by 2025 - Exclusive Report by MarketsandMarkets
CHICAGO, Jan. 21, 2021 /PRNewswire/ -- According to the new market research report "GNSS Simulators Market by Component Type (Single Channel and Multichannel), GNSS Receiver (GPS, Galileo, GLONASS, and BeiDou), Application (Vehicle Assistance Systems, Location-based Services, and Mapping), Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets, the market is estimated to grow from USD 106 million in 2020 to USD 165 million by 2025, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.
Various factors such as rapid penetration of consumer IoT, the contribution of 5G in enabling ubiquitous connectivity, and increasing use of wearable devices utilizing location information are expected to drive the adoption of the GNSS simulators hardware, software, and services.
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167 – Tables
49 – Figures
232 – Pages
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COVID-19 has shocked the world and sent economies spinning. It was late-2019 when the virus first appeared in the Chinese city of Wuhan. Initially, it only affected China, but its effects started being felt around the globe, with many countries implementing lockdown. The volunteers from Slovakian company Sygic and other technology companies developed a mobile application, aiming to slow down the spread of COVID-19. The technology used GNSS and Bluetooth sensors to determine if the user came into contact with an infected person in the last 14 days. According to a study by Science Daily published in September 2020, the quality of GNSS reflectometry measurements may have improved significantly during the pandemic because of the lack of cars parked near the ground station. The researchers showed that parked cars significantly reduced the quality of the elevation data by scattering the GNSS signals, causing them to be reflected several times before they reached the antenna, like a cracked mirror.
The hardware segment to hold a larger market size during the forecast period
The GNSS Simulators Market, by component, has been segmented into hardware, software, and services. The hardware segment is expected to account for a larger market size in the coming years in the GNSS Simulators Market as it enables signal simulations and plays a key role in the simulation process.