Global GNSS Chips and Modules Market To Grow at 8.4% CAGR Through 2031

The Global Navigation Satellite System (GNSS) Chips and Modules Market is entering a phase of rapid acceleration, forecasted to reach $12.44 billion by 2031, up from $7.20 billion in 2024, at a robust CAGR of 8.4%. This expansion is fostered by widespread adoption of location-based solutions in smartphones, wearables, and automotive systems, as well as technological advances offering greater precision and efficiency.

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Key Drivers Shaping Growth

• Consumer Device Integration: Smartphones, smartwatches, and fitness bands now rely on low-power GNSS chips for real-time and highly accurate location data.
• Automotive Revolution: Autonomous vehicles and advanced driver-assistance systems (ADAS) leverage precision GNSS modules for navigation and enhanced safety, intensifying demand from automotive manufacturers globally.
• Rise of IoT and Smart Cities: Asset tracking, logistics management, and urban infrastructure planning increasingly depend on GNSS-enabled IoT devices, expanding application scope and market reach.
• Precision Farming & UAVs: Agriculture and drone-based industries benefit from high-precision GNSS chips, enabling field mapping, autonomous machinery control, and aerial surveying.

Technology and Regional Trends

• Multi-constellation and multi-frequency receivers (supporting GPS, GLONASS, BeiDou, Galileo, NavIC, QZSS) improve accuracy and coverage worldwide, driving demand for chipsets in both mature and emerging economies.
• Asia Pacific leads global growth, with substantial adoption in consumer electronics, automotive, and precision agriculture, followed by strong contributions from North America and Europe, due to established R&D and technology sectors.
• Key players including Qualcomm, Broadcom, Mediatek, and start-ups are increasing investments in innovation, focusing on smaller chip footprints, enhanced accuracy, and energy efficiency.
Market Challenges and Opportunities
• Issues around signal interference in urban and dense environments present innovation challenges, requiring advanced solutions for robust performance.
• The competitive landscape is intense, but opportunities abound for novel applications in location-based services, high-precision logistics, and high-growth IoT verticals.

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Outlook

The GNSS Chips and Modules Market will continue to be a cornerstone across multiple industries, powering new technological capabilities and efficiencies. As adoption widens and innovation accelerates, the market presents lucrative opportunities for suppliers, platform developers, and technology integrators worldwide.

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This release was published on openPR.