BeiDou Navigation Satellite System can bring more than $63 billion in 2020

Beijing. April 12. Silkroadnews - The BeiDou Navigation Satellite System (BDS) is expected to generate revenue of more than 400 billion yuan ($63.55 billion) in 2020, and its market share will increase by more than 60%, the newspaper “People’s Daily” reports.
Once the innovation of high-precision positioning is launched, BDS can be used to develop the intelligent device industry.
Large-scale commercialization of BDS will lay the foundation for the use of advanced technologies, such as autonomous vehicles, internet of things and smart logistics.
It will be widely used in public security, transportation, fishing, electricity, forestry, disaster alleviation. More than 40,000 fishing boats have installed BDS, and more than 10,000 fishermen have already been rescued. In Beijing, BDS is running on 33,000 taxis and 21,000 buses.
In terms of using BDS, China is also actively cooperating with Malaysia, Singapore, Cambodia, Saudi Arabia, the United Arab Emirates, Egypt, Morocco, Tunisia, Algeria and other countries.
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, the report said.