GNSS Chip Market - Continuous Increase In The Demand For Location-Based Products And Services Is A Key Factor Contributing To The Expansion

A GNSS chip or Global Navigation Satellite System (GNSS) receiver is utilized along with GPS in many applications. This GNSS chip or GNSS receiver is an electronic component that receives signals and processes the signals from GNSS satellite constellation digitally. GNSS chip is employed as a complete solution for accurate positioning and navigation-based applications. This is primarily utilized in smartphones, tablets, individual navigation devices, timing and synchronization, and telematics.

In terms of type, the GNSS chip market can be segmented into hardware GNSS chip and software GNSS chip. Additionally, in terms of applications, the GNSS chip market can be segmented into surveying, navigation, mapping, location-based services, timing and synchronization, and telematics among others. Moreover, in terms of end-user industry, the GNSS chip market can be segmented into construction, consumer electronics, agriculture, military and defense, automotive, marine, and transport. In terms of geography, the GNSS chip market is segmented into Asia Pacific (APAC), Europe, North America, Latin America, and Middle East & Africa (MEA).

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Significant increase in the demand for consumer electronics goods and expansion of the telecommunications industry is an opportunity for manufacturers to explore to start new ventures. This is contributing to the expansion of the GNSS chip market. Furthermore, continuous increase in the demand for location-based products and services is a key factor contributing to the expansion of the GNSS chip market. Expansion of end-user industries such as telecommunications and IT is anticipated to be the key driver for expansion of the GNSS chip market during the forecast period. Increase in demand for smartphones in developing countries and the requirement for real-time data and information with regard to exact location of individuals and vehicles, increase in demand for personal navigation devices and tablets are prominent factors that have led to increased usage of GNSS chips or receivers to meet the navigation and location-based needs. Increase in location-based services such as disaster management, emergency support, mapping, discovery and entertainment, leisure and social networking, location-based games and applications, location-based real time data and location-based advertising and tracking have contributed to the increase in demand for GNSS Chips. Rapid urbanization and increase in population has led to the rise in demand for GNSS chips in the market. Moreover, increased demand for fast internet-based applications such as driving, multi-user gaming, distance learning, and video calling are playing an important role in driving the expansion of the GNSS chip market. New product development to meet the technological needs of dead reckoning (DR) and high positioning rate are notable factors fueling the expansion of the GNSS chip market. Additionally, expansion in the e-commerce industry is a major factor to drive the expansion of the GNSS chip market. With an increase penetration of internet technology the GNSS market is also expected to grow exponentially.

Asia Pacific (APAC) is the dominant market for GNSS chip followed by North America. In terms of market share, Asia Pacific (APAC) is the rapidly growing segment of the GNSS chip market. North America is the second leading market in the GNSS chip market and the U.S. and Canada are among the leading contributors in the region. In Asia Pacific, Japan and China are the leading contributors to the rapidly growing market in the region. Significant growth in GNSS chips market comes from China, India, and Japan due to their high populations.

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The GNSS chip market is a fragmented with many established players with random market share. Key players in GNSS Chips market are Qualcomm Incorporated, ST Microelectronics N.V., Mediatek Inc., U-Blox Holdings AG, Intel Corporation, Furuno Electric Co., Ltd., Broadcom Corporation, Quectel Wireless Solutions Co., Ltd., Skyworks Solutions, Inc., and Navika Electronics.

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