Press release
Global Navigation Satellite System (GNSS) Chip Market Set to Reach $7.83 Billion by 2029 with 5.8% Yearly Growth
Global Navigation Satellite System GNSS Chip Market Size
The global navigation satellite system (GNSS) chip market is set to experience significant growth driven by the escalating demand for consumer electronics. This sector deals with the creation, development, and manufacturing of electronic gadgets for individual use. GNSS chips are incorporated in consumer electronics to offer precise location services, thus improving navigation and location-oriented features in devices like smartphones and wearables. These functionalities are vital for providing essential data for emergency aid and search and rescue missions. For example, data provided by the Japan Electronics and Information Technology Industries Association, a trade organization based in Japan, showed that the total electronic device production in Japan for May 2023 was $6,722 million (¥771,457 million). There was a noticeable increase in consumer electronics device production, from $230.9 million (¥25,268 million) in May 2022 to $280 million (¥32,099 million) in May 2023. As a result, the booming demand for consumer electronics is fueling the growth of the GNSS chip market worldwide.
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What Is the projected market size and growth rate for the global navigation satellite system (gnss) chip market?
The worldwide market for global navigation satellite system (GNSS) chips has seen significant expansion recently. It is predicted to increase from $5.83 billion in 2024 to $6.25 billion in 2025, with a compound annual growth rate (CAGR) of 7.3%. Its growth during the historic period has been driven by factors such as the emergence of satellite navigation systems, their growing use in consumer devices, government initiatives and investments, their increasing adoption in agriculture and surveying sectors, and the emerging trend of autonomous vehicles.
In the coming years, the global navigation satellite system (GNSS) chip market is projected to experience robust growth, reaching a value of $7.83 billion in 2029 with a compound annual growth rate (CAGR) of 5.8%. This expected growth during the forecasted period can be attributed to a surge in demand for precise real-time data, wide adoption of consumer electronic devices, the spread of the internet of things (IoT), advancements in satellite constellations, and the amalgamation of various satellite systems. Further, the forecast period is likely to see trends such as sophisticated signal processing and machine learning, integration and connectivity with 5G, downsizing and designs that consume less power, support for multiple constellations and frequencies, and integration with inertial navigation systems (INS).
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What are the emerging trends shaping the future of the global navigation satellite system (gnss) chip market?
Key businesses in the global navigation satellite system (GNSS) chip market are honing their focus on the creation of cutting-edge products with highly advanced tech solutions, such as wide-area real-time kinematics technology, to consolidate their status in the market. Wide-area real-time Kinematics (WARTK) is an innovative technology used for precise real-time positioning across large geographical areas. In October 2023, LOCOSYS Technology Inc., a Taiwan-based company known for its GPS/GNSS positioning and navigation products, rolled out the 100km Wide-Area Real-Time Kinematics (WARTK) support technology. This new technology is aimed at achieving highly accurate positioning over longer ranges, whether in heavily urbanized cities or remote rural locales, playing a significant role in applications such as geographic information systems (GIS), environment monitoring, and natural resource administration. Intelligent transport systems incorporate Global navigation satellite systems, prominently Real-Time Kinematics (RTK), for various utilities including vehicle navigation, overseeing fleets, managing transport systems, building highways, and many other novel applications such as the evolution of smart cities, transport infrastructure, automatic and connected vehicles, and sophisticated vehicle control systems.
What major market segments define the scope and growth of the global navigation satellite system (gnss) chip market?
The global navigation satellite system (GNSS) chip market covered in this report is segmented -
1) By Device Type: Smartphones, Tablets And Wearables, Personal Tracking Devices, Low-Power Asset Trackers, In-Vehicle Systems, Drones, Other Device Types
2) By Application: Navigation, Mapping, Location-Based Services, Surveying, Telematics, Timing And Synchronization, Other Applications
3) By Vertical: Consumer Electronics, Construction, Agriculture, Automotive, Military And Defense, Marine, Transport
Subsegments:
1) By Smartphones: High-End Smartphones, Mid-Range Smartphones, Entry-Level Smartphones
2) By Tablets And Wearables: Tablets, Smartwatches, Fitness Trackers, Augmented Reality (AR) Glasses
3) By Personal Tracking Devices: GPS Trackers, Pet Trackers, Personal Emergency Response Systems (PERS)
4) By Low-Power Asset Trackers: Cargo Tracking Devices, Vehicle Tracking Devices, Equipment Tracking Devices
5) By In-Vehicle Systems: Navigation Systems, Telematics Systems, Fleet Management Systems
6) By Drones: Consumer Drones, Commercial Drones, Military Drones
7) By Other Device Types: IoT Devices, Robotics, Smart Home Devices
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Which region dominates the global navigation satellite system (gnss) chip market?
Asia-Pacific was the largest region in the global navigation satellite system (GNSS) chip market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global navigation satellite system (GNSS) chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the global navigation satellite system (gnss) chip industry growth?
Major companies operating in the global navigation satellite system (GNSS) chip market are Sony Group Corporation, Intel Corporation, Qualcomm Technologies Inc., Broadcom Inc., Fujitsu Limited, Thales Group, Mediatek Inc., STMicroelectronics N.V., Hexagon, Skyworks Solutions Inc., Trimble Inc., Belden Inc, Quectel Wireless Solutions Co. Ltd, Topcon Corporation, Furuno Electric Co. Ltd, U-blox Holdings AG, Telit Communications PLC, NovAtel Inc., STONEX Srl, Rakon Limited, Hemisphere GNSS, SparkFun Electronics, Harxon Corporation, Septentrio N.V., LOCOSYS Technology Inc., Syntony GNSS, ComNav Technology Ltd., Hunan Bynav Technology, Tallysman Wireless Inc., OriginGPS Ltd.
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What Is Covered In The Global Navigation Satellite System (GNSS) Chip Global Market Report?
• Market Size Forecast: Examine the global navigation satellite system (gnss) chip market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the global navigation satellite system (gnss) chip market for a structured understanding.
• Key Players Overview: Analyze major players in the global navigation satellite system (gnss) chip market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the global navigation satellite system (gnss) chip market.
• Segment Contributions: Evaluate how different segments drive overall growth in the global navigation satellite system (gnss) chip market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the global navigation satellite system (gnss) chip market.
• Industry Challenges: Identify potential risks and obstacles affecting the global navigation satellite system (gnss) chip market.
• Competitive Landscape: Review strategic developments in the global navigation satellite system (gnss) chip market, including expansions, agreements, and new product launches.
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