Global BeiDou Navigation Satellite System Market Growth Graph to Climb Uphill 2022-2028
Posted On April 06, 2022
The worldwide BeiDou Navigation Satellite System market will develop and grow at a steady pace in the next six years as estimated by a report recently published by Value Market Research. The BDS market is likely to grow faster since it provides users with two-way communication and high-precision and reliable navigation, positioning, and timing services throughout the day, regardless of weather conditions. This market's growth will be aided by sending short messages utilizing this service. Since bilateral cooperation to promote interoperability and cooperative applications with other satellite systems is being carried out, the worldwide reach of BDS services continues to expand. The BDS market will continue to develop because of the increased stress on satellite systems during the COVID-19 pandemic. Due to the relatively poor positioning and timing data compared to GPS, the global adoption of BDS services will be limited.
The BeiDou Navigation Satellite System, often known as COMPASS, is a Chinese satellite navigation system of two constellations of satellites. The building was completed in three stages. The BeiDou network will consist of 30 satellites and is 100 times more accurate than GPS. The BeiDou navigation and positioning system (BDS) is employed in various industries, including public safety, fisheries, disaster relief, innovative city development, transportation, and mass-market applications. The BDS system can be a valuable tool for locating disaster zones during rescue missions and emergency search activities. The China Academy of Space Technology (CAST) and the Chinese Academy of Sciences collaborated to develop and produce this navigation system (CAS). It is viewed as a rival to the United States' GPS, Russia's GLONASS, and Europe's Galileo satellite navigation systems.
The report " Global BeiDou Navigation Satellite System Market Report By Type (Hardware, Software & Services), By Downstream Industry (Agriculture, Aviation, Location-Based Services (LBS), Traffic And Transportation, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2028" is a compresensive set of data with market overview, executive summary and detailed revenue analysis bifurcated by segments and regions. The study covers the historical trends along with the geo-economical conditions of the industry related to the BeiDou Navigation Satellite System market, thus leading to a robust and reliable report
The following segments in the market are covered in the report :
By Downstream Industry
- Software & Services
- Location-Based Services (LBS)
- Traffic and Transportation
The report is divided into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Players Profiled In the Report:
CASC, UniStrong, Haige Communications, Hwa Create, Hi-Target, Beijing BDStar Navigation, Corpro
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