Global GNSS Correction Service Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global GNSS Correction Service Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Navigation Satellite System (GNSS) is a navigation system that uses satellites to provide accurate positioning and timing information anywhere on the earth. Atmospheric and technical factors often challenge GNSS signals and require correction after satellite transmission. GNSS correction services use various technologies to overcome these errors and achieve decimeter or even centimeter-level positioning accuracy. GNSS correction services play a key role in various fields including transportation, emergency services, geodesy, and agriculture, improving efficiency, safety, and effectiveness.

Market Overview:

The latest research study on the global GNSS Correction Service market finds that the global GNSS Correction Service market reached a value of USD 629.76 million in 2023. It’s expected that the market will achieve USD 1238.8 million by 2029, exhibiting a CAGR of 11.94% during the forecast period.

According to a report released by the United Nations Department of Economic and Social Affairs, the prospects for a strong global economic recovery remain bleak at present. Stubborn inflation, rising interest rates, and increased uncertainty all stand in the way of sustainable economic development. Inflation remains high in many countries. While upward price pressures are expected to ease gradually, inflation will remain well above central bank comfort zones in many countries. Amid disruptions in local supplies, high import costs, and imperfect markets, food inflation is high in most developing countries, disproportionately affecting women, children, and the poor, and exacerbating food insecurity. Global monetary tightening has exacerbated the fiscal and debt vulnerabilities of developing countries. Rising borrowing costs and a stronger dollar have also increased debt service burdens and the risk of debt default. Financing constraints will limit the ability of governments to invest in education, health, sustainable infrastructure, and energy transition, thereby affecting the acceleration of sustainable development. Businesses are directly affected by inflation in two main ways. When prices rise, a company's raw material, manufacturing, and administrative costs increase, and consumers' purchasing power decreases. This means that the business will sell less, thereby reducing the business's total revenue. The high cost of living has also led to increased demand from workers for higher wages. Another negative effect is that inflation brings most corporate sustainability strategies to a standstill. Includes sustainable materials, renewable energy, waste reduction and efficiency.

During periods of excessive inflation, the government may enact policies to stabilize prices or stimulate the economy. Regulators can work with industry players to develop helpful rules and incentives to ease the burden. The navigation satellite systems market is highly dependent on the cost of components and services. The cost of navigation satellite systems is also expected to rise as inflation increases the cost of these components and services. High inflation rates may also have an impact on R&D investments in navigation satellite systems. Companies may be less willing to invest in research and development, which may result in a reduction in the number of new products and services available in the market. Businesses are looking to cost-cutting strategies to offset rising costs, such as optimizing delivery routes, improving operational efficiency, and purchasing fuel-efficient vehicles. Fleet management technology has been recognized as a powerful tool that provides fleets with the data they need to make better decisions, address challenges, and help improve fleet performance. Effective route planning is critical to efficient use of fuel and lowering overall operating costs. Therefore, inflation brings opportunities and challenges to the GNSS correction service industry.

GNSS correction service advantages

The growth of GNSS has led many organizations to leverage positioning data when creating applications and products. For example, self-driving cars, robots, logistics fleets, and emergency response systems extensively use GNSS technology to determine the precise location of people, places, and things, and then use this data to optimize routes. Positioning correction services are an integral part of high-precision GNSS. In critical use cases such as surveying or driver safety, GNSS adopters cannot afford to have location intelligence downtime. The accuracy and reliability of signals can be greatly improved through GNSS correction services, keeping position tracking running normally when signals are interrupted. By hitting all of these marks, network operators can be more confident that their GNSS solutions will be more secure, immune to interference and spoofing, and more resistant to obstructions such as skyscrapers or trees that hinder signals. GNSS receivers utilizing correction services deliver high precision and accuracy at faster speeds, simplify common workflows, and provide instant connection to geodetic reference frames. In many cases, surveyors and draftsmen can start working as soon as they step out of the truck. Calibration services mean less upfront investment as only one rover is required, or a pair of base rovers can be repurposed as two rovers. For farmers looking for half-meter delivery accuracy, there are less expensive positioning services available. For some asset inventory and mapping applications, users are looking for decimeter accuracy. To deliver high-precision GNSS positioning, implementers and solution providers need to pay careful attention to chipset diversification, the application of correction services such as real-time kinematics (RTK), and sensor fusion. Modern industrial receivers typically obtain GNSS corrections through a subscription service, delivered via the Internet (using the NTRIP protocol), satellite, or 4G/5G. Today, the GNSS correction services market is booming, driven by high-precision needs in the automotive industry, automation, and smart consumer devices.

The rise of self-driving cars

The automotive industry is expected to be one of the most potential end users of GNSS correction services in the future. This is due to the increasing use of modern vehicles equipped with advanced driver assistance, and semi-autonomous and autonomous driving features. Benefits of autonomous vehicles include greater road safety; reduced congestion; environmental benefits; increased driving independence; contactless delivery and more. Geolocation is a critical component for safe and efficient navigation of autonomous vehicles. The accuracy and reliability of geolocation data directly affect the performance, safety, and efficiency of autonomous vehicles. Autonomous vehicles are equipped with a variety of sensors, such as lidar, radar, and cameras, to sense and interpret their surroundings. These sensors capture basic data about the vehicle's surroundings, including road conditions, obstacles, and other vehicles. GNSS receivers in autonomous vehicles use correction data to improve positioning accuracy, especially in challenging urban environments or areas with signal interference. Real-time correction data provided via cellular networks or Internet-based services enables autonomous vehicles to maintain accurate positioning, enabling safe and efficient autonomous operations. Correction data ensures that autonomous vehicles can accurately navigate complex road networks, avoid collisions, and make informed decisions based on reliable positioning information. The evolution toward fully autonomous vehicles with varying levels of autonomy continues, with General Motors, Tesla, and Ford in the final stages of testing their self-driving vehicles. Many cars have begun using GNSS corrections and sensors to help the vehicle find and stay in the correct lane and provide detailed lane-level guidance to the driver. New startups are constantly emerging to provide specific correction services for the automotive industry and autonomous vehicles. The rise of autonomous vehicles is therefore expected to continue to increase the demand for GNSS correction services.

Region Overview:

In 2022, the share of the GNSS Correction Service market in North America stood at 33.34%.

Company Overview:

The major players operating in the GNSS Correction Service market include Trimble, Topcon, Hexagon, Oceaneering International, Fugro, etc. Among which, Trimble ranked top in terms of sales and revenue in 2023.

Trimble is transforming the way the world works by delivering products and services that connect the physical and digital worlds. Core technologies in positioning, modeling, connectivity and data analytics enable customers to improve productivity, quality, safety and sustainability. From purpose built products to enterprise lifecycle solutions, Trimble software, hardware and services are transforming a broad range of industries such as agriculture, construction, geospatial and transportation and logistics.

Trimble products are used in over 141 countries around the world. Employees in more than 30 countries, coupled with a highly capable network of dealers and distribution partners serve and support customers worldwide.

Segmentation Overview:

By type, RTK segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Marine segment occupied the biggest share from 2018 to 2022.

Key Companies in the global GNSS Correction Service market covered in Chapter 3:

Beijing UniStrong Science & Technology Co. Ltd.
Hi-Target
Oceaneering International
u-blox
Fugro
Septentrio NV
Topcon
Hexagon
Trimble

In Chapter 4 and Chapter 14.2, on the basis of types, the GNSS Correction Service market from 2019 to 2030 is primarily split into:

RTK
RTK-PPP
PPP

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the GNSS Correction Service market from 2019 to 2030 covers:

Agriculture
Construction
Automobile
GIS and Mapping
Marine
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)