The major players in the BeiDou navigation satellite system market include CASC, UniStrong, Haige Communications, Hwa Create, Hi-Target, Beijing BDStar Navigation, Corpro.
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 entire BeiDou navigation satellite system market has been sub-categorized into type and downstream industry. demand for BeiDou navigation satellite system market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
By Type
- Hardware
- Software & Services
By Downstream Industry
- Agriculture
- Aviation
- Location-Based Services (LBS)
- Traffic and Transportation
- Others
Source: https://www.valuemarketresearch.com/report/beidou-navigation-satellite-system-market
Naira Shekhawat has been into Content Writing just after completing her Graduation in English Literature. Her love for words has won her many accolades in her respective jobs ever since. Naira covers business sections for VMR News. She is a traveller by heart and loves writing on food blogs as a freelancer.