In Europe, the GNSS market currently supports nearly 50,000 jobs in the downstream industry and 3,000 in the upstream. With the GNSS market expected to grow by 8.3% per year until 2019, these figures will only increase.
The 2015 edition of the GSA’s GNSS Market Report takes an in-depth look at market opportunities, technology trends and future developments for eight key market segments: Location-Based Services (LBS), Road Transportation, Aviation, Maritime, Rail, Agriculture, Surveying and, for the first time, Timing & Synchronisation.
With nearly 4 billion Global Navigation Satellite System (GNSS) enabled devices in use worldwide, and an estimated 7 billion by 2020 – or one device for every person on the planet – GNSS presents an unprecedented business opportunity for Europe. According to the 4th edition of the GSA GNSS Market Report, European GNSS – Galileo and EGNOS – is positioned to play a substantial role in boosting business, creating jobs and promoting innovation in Europe.
Six percent of European GDP depends on GNSS. In Europe, the GNSS market currently supports nearly 50,000 jobs in the downstream industry and 3,000 in the upstream. With the GNSS market expected to grow by 8.3% per year until 2019, these figures will only increase.
According to the report, smartphones are the most popular platform for accessing such Location-Based Services as point-of-interest search, location-based advertising, personal navigation and location-based social networking.
In terms of market performance, the report shows European industry being strongest in components manufacturing in the Road, Rail and Aviation segments. European companies are the global leader in Rail system integration and have a strong position in Maritime and Road.
GSA Executive Director Carlo des Dorides says: “With the volume of global data doubling every two years, we are living in exciting times and, as our Market Report demonstrates, locationinformation matters now more than ever.”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
