The BeiDou Navigation Satellite System (BDS) is predicted to generate revenue of more than 400 billion yuan ($63.55 billion) in 2020, and its market share will increase to more than 60 percent.
Once the innovation of high-precision positioning is applied, BDS will provide leapfrog development opportunities for the entire intelligent devices industry. Besides mobile terminals, the hardware value chain will be improved. BDS will offer billion-dollar opportunities to users’ base service providers, according to a report on Tuesday on the news portal jfinfo.com, a stock information provider.
BDS will further integrate the resources in the industrial value chain, improve the industry resources utilization and hardware technology standards. Its compound growth rate will exceed 40 percent, the news report said.
Entering into the period of global networking, BDS’ large scale commercialization is about to be realized, and will lay the foundation for cutting-edge technology for application, including autonomous vehicles, internet of things and smart logistics, the report added.
It has been widely used in public security, transportation, fishery, electricity, forestry, disaster alleviation. More than 40,000 fishing boats have installed BDS across China, and more than 10,000 fishermen have been rescued. BDS is called the "savior gods" by fishermen. In Beijing, BDS is running on 33,000 taxis and 21,000 buses.
In recent years, BDS has been widely utilized in various industries, such as public security, transportation, fishery, utility, forestry and disaster relief.
China has established a cooperation network with countries, regions and organizations along the Belt and Road route. BDS is providing customized services to a long list of projects, including transportation and port management projects in Pakistan, urban planning and river transportation supervision in Myanmar, fine agriculture, diseases and pest monitoring in Laos, urban modernization and intelligent tourism in Brunei and marine integrated applications in Indonesia.
Teams working on BDS are also proactively exchanging and cooperating with Malaysia, Singapore and Cambodia.
China is also working with Saudi Arabia, the United Arab Emirates, Egypt, Morocco, Tunisia and Algeria to develop further application plans.
BDS has joined the three international organizations: International Civil Aviation Organization (ICAO), International Maritime Organization (IMO) and 3GPP, a body that governs global cellular standards.
The system will also provide free search and rescue services globally.
BDS is carrying out the cooperation with Russia, US and European satellite navigation working groups for win-win results.
A map app based on the self-developed BeiDou Navigation Satellite System, or COMPASS, is expected to be launched on May 1, China National Radio (CNR) reported on Monday.