GNSS Chip Market is expected to reach US$ 8,324.27 Million by 2028 | The Insight Partners

IoT Technology in Autonomous Vehicles to Create Lucrative Opportunities for GNSS Chip Market During 2021-2028

IoT technologies help the automotive industry to create innovative and advanced solutions such as connected car solutions, advanced driver-assistance systems (ADAS), in-vehicle infotainment systems, and navigation and telematics solutions. Navigation systems are being deployed mainly in vehicles to display maps that offer information about speed, location, direction, nearby streets, points of interest, and tracking purposes. IoT-enabled cars have GNSS chips integrated into them, which help drivers to drive efficiently, and concerned agencies can track their location in case of emergencies. Thus, a rise in demand for IoT-enabled cars creates an opportunity for GNSS chip market players to strengthen their presence in the automotive sector. In January 2021, Qualcomm Technologies, Inc. and Alps Alpine Co., Ltd. announced a camera-based sensing and positioning device called ViewPose to support absolute lane-level vehicle positioning.

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The List of Companies:
INTEL
Mediatek
QUALCOMM
FURUNO
Broadcom Inc.
U-BLOX
Trimble Navigation
Septentrio
Quectel Wireless
Hemisphere GNSS Inc.
Hexagon (Leica Geosystems)
Hypack
Javad
South
Stonex
Topcon

Based on device, the GNNS chip market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. In 2021, the smartphones segment led with a larger market share. On the basis of application, the GNNS chip market is segmented into navigation & location-based services, mapping, surveying, telematics, timing and synchronization, and others. In 2021, the navigation/location-based services segment accounted for the largest market share. Based on vertical, the GNNS chip market is segmented into consumer electronics, automotive & transportation, military & defense, and others. In 2021, the consumer electronics segment dominated the market and accounted for the largest market share. On the basis of geography, the GNSS chip market is primarily segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2021, APAC accounted for a significant share of the market.

Impact of COVID-19 Pandemic on North America GNSS Chip Market:

A continuous surge in the number of virus-infected patients compelled government authorities to impose stringent lockdowns across the US and other regions for the first three quarters of 2020. The manufacturing sector witnessed severe losses due to temporary factory shutdowns and low production volumes, which hindered the growth of the automotive, electronics & semiconductors, and retail sectors. Moreover, the social or physical distancing measures put limitations on the operations of logistics and other service providers. Owing to the COVID-19 infection, lower-income and old buyers seemed to be less inclined toward spending on nonessentials, and their spending on such commodities declined by ~9% in 2020, compared to 2019. This impacted the sales of various consumer electronics products, such as smartwatches, wearable, and fitness trackers. In the US, the shuttering of assembly plants affected the GNSS chip market from the supply side. However, during the Q3 of 2020, various industries started to open, which resulted in the resumption of the supply chain operations. In 2022, the engineering and construction (E&C) industry is likely to play a critical role in assisting the country's economic strategy. With investments in healthcare, public safety, and other public facilities, the E&C sector is predicted to do well, along with a quicker recovery of the non-residential segment. As GNSS chips are widely utilized in construction vehicles, the factors listed above will aid the GNSS chip market's recovery from the damage caused during the initial phases of the pandemic.

Which device dominated the market in 2021?

The global GNSS chip market was dominated by smartphone segment accounted for the largest share in 2021 during the forecast period. Location and navigation is an integral part of the daily smartphone experience, whether booking a cab, ordering food, or offering other services, the location element provides an unmatched personalized experience. Almost every smartphone manufacturer has integrated navigation applications into them; drivers are widely using these applications to know their current location and the location of their destination as a smartphone identifies its position via either satellite radio signals or GNSS (Global Satellite Navigation Systems (GNSS)).

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