The global demand for BeiDou Navigation Satellite System Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
The BeiDou Navigation Satellite System also called COMPASS is a Chinese satellite navigation system and consists of two separate satellite constellations. It was constructed in three phases. BeiDou network is 30 satellites strong and will be over 100 times more accurate than GPS. BeiDou navigation and positioning system (BDS) is used in a wide variety of sectors like public security, fishing, disaster reduction, the construction of smart cities, transportation and mass-market applications. The BDS system can be used as an effective aid during rescue missions and emergency search operations for the location of disaster zones. This navigation system was developed and manufactured by the China Academy of Space Technology (CAST) and the Chinese Academy of Sciences (CAS). It is considered as an alternative to the global positioning system (GPS) of the US, Russia’s GLONASS, and Europe’s Galileo.
The BDS market is expected to grow at a faster rate since it provides two-way communication to users with high-precision and reliable navigation, positioning, and timing services throughout the day irrespective of weather conditions. The capability to transmit short messages using this service will boost the growth of this market. The reach of BDS services globally continues to grow since bilateral cooperation to promote compatibility and joint applications with other satellite systems are being carried out. The market of BDS will continue to grow during COVID-19 pandemic, due to the increase in load on satellite systems. The global adoption of BDS services will be restricted due to the relatively imprecise positioning and timing data as compared to GPS.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of BeiDou navigation satellite system.
The entire BeiDou navigation satellite system market has been sub-categorized into type and downstream industry. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Downstream Industry
- Software & Services
- Location-Based Services (LBS)
- Traffic and Transportation
This section covers regional segmentation which accentuates on current and future demand for BeiDou navigation satellite system market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global BeiDou Navigation Satellite System Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the BeiDou navigation satellite system market include CASC, UniStrong, Haige Communications, Hwa Create, Hi-Target, Beijing BDStar Navigation, Corpro. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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