GNSS market to double in 4 years - projection

26 September 2008, 2:59pm

According to a research by Eric Gakstatter and Position One Consulting Pty. Ltd., the global market for precision GNSS products and services will double from today's estimated $3 billion annually to between $6 billion and $8 billion by 2012.

The report includes details on the projected U.S. value chain, from infrastructure through to GNSS augmentation and distribution services, including such markets as surveying, engineering, agriculture, mining, deformation monitoring, GIS, and marine for both machine control and non-machine control applications.

The report includes 5-year growth and financial projections for the high-precision GNSS markets that were surveyed, plus analysis of the competitive landscape.

Gakstatter and Position One's Robert Lorimer found that the global value of precision GNSS products and services is approximately $3 billion currently, and will grow at a compound annual growth rate (CAGR) between 19 percent and 23 percent between now and 2012 to reach that $6 billion to $8 billion market.

The report also discusses the background and status of the entire spectrum of GNSS technology, including GPS, GPS modernization, GLONASS and GLONASS modernization, SBAS (satellite-based augmentation systems), Galileo and Compass/Beidou, QZSS, and IRNSS systems, as well as technology/market trends and potential disruptions.

The authors debuted the report here at the Institute of Navigation (ION) GNSS conference. An abstract of the report can be found here on the GPS World site.

Article based on Press Relese from GPS World.

Report Abstract on GPS World web site

GPS World Survey & Construction web site

Geo: International