China's Beidou navigation industry has gained leapfrog growth in the first half of this year, featuring high-quality development and wide-ranging applications, according to a report on the development index of Beidou industry.
The report released by the Global Navigation Satellite System (GNSS) and Location Based Services (LBS) Association of China in Wuhan, capital city of central China's Hubei Province, on Thursday, said the index tracking the development of the sector posted 1431 points, up 9.07 percent year on year.
The report is the only one of its kind targeting the development index of BeiDou sector and offers a detailed, objective, and comprehensive analysis of the industry's progress in all facets.
"This demonstrates that China's BeiDou industry has maintained fast-track growth over the years. The 14th Five-Year Plan (2021-2025), along with policies from various ministries and local governments, has facilitated scale applications of BeiDou system. With leapfrog growth of digital economy and cross-sectoral digital transformation and upgrading in national economy, the demand for BeiDou applications has risen prominently," said Yu Xiancheng, president of the GNSS and LBS Association of China.
Moreover, the introduction of policies to encourage large-scale equipment upgrades and consumer goods trade-ins this year has driven equipment renewals in industries such as transportation, agriculture, and municipal services, boosting sales of BeiDou terminal devices and expanding the BeiDou application market.
The report showed that, in the first half of this year, China's BeiDou industry chain and supply chain have remained secure and resilient.
The latest data indicated that as of mid-2024, the total number of BeiDou terminal devices across China reached nearly 27 million, an increase of over four million from the same period last year, reflecting a 17.4 percent growth.
The penetration rate of BeiDou applications has now surpassed 50 percent, and the system is extensively used across various sectors in China.
"BeiDou's mass applications have achieved remarkable results. In the first half of 2024, domestic smartphone shipment reached 139 million units, with over 98 percent of them supporting BeiDou positioning functions. BeiDou's high-precision lane-level navigation now covers over 100 cities and can be utilized for tunnel navigation and accident alerts," said Liu Dake, executive vice president of GNSS and LBS Association of China.