The GNSS Chip market is projected to reach US$ 8,324.27 million by 2028 from US$ 5,669.00 million in 2021; it is expected to grow at a CAGR of 5.6% from 2021 to 2028.
The demand for UAV is increasing with the emergence of technologies such as artificial intelligence, sense and avoid systems, and cloud computing.The integration of AI in UAVs has enhanced their capabilities, such as navigation, data capture, take-off, data transmission, and data analysis, without any human intervention.
Many mobile network operators have announced the deployment of 5G networks in urban areas.In the US, AT&T began its 5G network in 2018, and now, it is used by 230 million Americans in 14,000 cities and towns.
South Korea is the second country to enter the race.
Telecom companies collectively rolled out the 5G network in March 2019.In the UK, Vodafone announced plans to roll out the technology in 2020.
Thus, with the increasing numbers of 5G base stations, the requirement for higher-level timing accuracy is increasing to secure stable connections over 5G networks.According to the GSA 2020 report, China is a fast-growing country leading its way into the 5G era.
Moreover, ST and Quectel are working together to offer innovative GNSS technologies driving the growth of the GNSS chip market.
The COVID-19 pandemic has shaken several industries.The impact of COVID-19 differed from country to country across the world.
The global crisis has compelled manufacturers to streamline their production processes to tackle unexpected disruption and to adapt to unprecedented challenging working conditions such as physical distancing.Considering increasing vaccination drives is expected to recover by the end of 2022 with companies investing in making operations more productive and efficient.
Limitations done by governments to control the spread of COVID-19 during the initial stages of the pandemic severely affected the production processes and outcomes due to the restrictions enacted on workforce available on work floors.Automotive and consumer electronics are the key industries contributing toward the growth of global GNSS chip market.
Further, enterprises had to take steps such as downsizing and salary cut, which hampered the buying capacity of consumers. This resulted in the decreased sales of smartphones, smartwatches, and other electronic appliances in 2020. According to Automobile Industry Associations, the Indian automotive industry suffered the daily loss of ~US$ 31,164 million in 2020. However, as many countries have resumed their economic activities and industries have begun their operations, which is gradually fueling the demand for GNSS chips.
The GNSS chip market is segmented on the basis of device, application, and vertical.Based on device, the market is segmented into smartphones, tablets, personal navigation devices, in-vehicle system, and others.
In 2021, the smartphone segment led the GNSS chip market with the largest share.Based on application, the market is segmented into navigation & location-based services, mapping, surveying, telematics, timing and synchronization, and others.
In 2021, the navigation & location-based services segment led the market and accounted for the largest market share.Based on vertical, the GNSS chip market is segmented into consumer electronics, automotive & transportation, military & defense, and others.
In 2021, the consumer electronics segment held the largest share of the market. On the basis of geography, the GNSS chip market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, APAC accounted for a significant share in the market.
The key players operating in the global GNSS chip market and profiled in the market study include Broadcom; FURUNO ELECTRIC CO., LTD.; Hemisphere GNSS, Inc.; Intel Corporation; MediaTek Inc.; Qualcomm Technologies, Inc.; Quectel Wireless; Skyworks Solutions, Inc.; STMicroelectronics; u-blox; Hexagon; Trimble Inc.; and Septentrio.
The overall GNSS chip market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast of the GNSS chip market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the GNSS chip market.
Our reports have been used by over 10K customers, including:
The Digital Map Market size to grow from USD 19.2 billion in 2021 to USD 37.0 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 14.1% during the forecast period. Various factors such as increasing spending on adoption of newer technologies, changing landscape of customer intelligence to drive the market, and proliferation of customer...
The dynamic positioning system market is projected to grow from USD 6.3 billion in 2021 to USD 10.5 billion by 2026, at a CAGR of 10.7% between 2021 and 2026 period. The increase in seaborne trade across the globe, cargo ship industry and shipbuilding industries are driving the market growth of the dynamic positioning system market. Based...
In terms of revenue, the global maritime real-time positioning system market was valued at US$ 158.2 million in 2019 and is projected to reach US$ 1,395.6 million by 2027; it is expected to grow at a CAGR of 31.8% during the forecast period. The continuous technological advancements have drastically improved the ways of tracking and...
Increased demand for accurate and reliable navigation is one of the significant factors driving the inertial navigation system market The inertial navigation system market is projected to grow from an estimated USD 9.54 billion in 2017 to USD 12.26 billion by 2022, at a CAGR of 5.15% during the forecast period. This growth...
Air Passenger Traffic
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.