Press release
Global GNSS Chips and Modules Market To Grow at 8.4% CAGR Through 2031
GNSS Chips and Modules Market
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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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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media, and Telecommunications, as well as chemicals and Materials.
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