The global GNSS Chip Market sector is expanding rapidly, fuelled by increased demand from the semiconductor and electronics industries. As of 2022, the market’s projected worth was an astounding US$ 5.2 billion, with estimates predicting a significant growth to US$ 9.7 billion in 2032. This amazing growth is largely due to the expanding prospects given by the GNSS chip sector.
In terms of accuracy and quantity of satellites, GNSS chips outperform GPS. It may receive signals from several satellite navigation systems, whereas GPS chips only accept GPS signals and provide location.
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For example, if a GPS chip is obstructed by a tall building or a mountain, it may find it difficult to receive signals from enough satellites to determine its position accurately. On the contrary, in case of a GNSS chip, it can receive signals from other satellite navigation systems and determine the user’s position more accurately.
To meet this objective, manufacturers are focusing on improving the accuracy of GNSS chips by increasing the sensitivity of indoor signals. This new development will facilitate accurate results for indoor positioning and navigation, making GNSS chips an attractive choice for customers.
One key application of GNSS chip technology in Industry 4.0 is in the area of asset tracking and management.
By using GNSS chips, automotive manufacturers can track the location of vehicles and components throughout the production process. This information can be used to optimize production schedules, reduce lead times, and improve inventory management.
GNSS chips can be used in automotive predictive maintenance to monitor vehicle performance in real-time. This helps manufacturers to identify potential issues before they become critical, which reduces downtime and improves product reliability.
Key Takeaways from GNSS Chip Market
- The global GNSS chip market exhibited a moderate CAGR of around 7.5% during the historical period 2017 to 2021.
- Asia Pacific GNSS chip market is projected to be worth US$ 4.9 billion in 2032.
- The USA GNSS chip market is set to create an absolute $ growth of US$ 574.5 million till 2032.
- Based on device, the smartphone segment is anticipated to steadily grow at a CAGR of 6.4% from 2022 to 2032.
- Based on vertical, the automotive segment witnessed prominent growth at a CAGR of 7.0% from 2017 to 2021.
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“As manufacturers adopt GNSS technology for predictive maintenance and autonomous driving applications, the automotive vertical will prove to become a high revenue earning segment.” – Says a lead analyst.
Competitive Landscape: GNSS Chip Industry
The top market players in the industry are exploring innovative ways to deliver high-quality goods and expanding their product lines. This includes focusing on patenting innovations and broadening product portfolios to stay ahead of competition.
Key Players
- Qualcomm Incorporated
- STMicroelectronics NV
- Mediatek Inc.
- U-Blox Holding
- Broadcom Limited
- Intel Corporation
For instance,
- In June 2022, the high-performance single-band ultra-low power GNSS positioning module LC76G was launched by a Chinese company—Quectel.
The LC76G is a GNSS chip that comes with an inbuilt SAW filter and an integrated LNA. It can be directly attached to a passive patch antenna, and it offers a filter against unwanted interference. As a result, the LC76G provides great performance, even while driving through crowded urban canyons.
Get More Exclusive Insights into GNSS Chip Market Study
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the GNSS Chip Industry , presenting historical market data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.
The study reveals extensive growth in the GNSS Chip Industry in terms of device (smartphones, tablets, personal navigation devices, and in-vehicle systems), application (navigation, mapping, surveying, location-based services, telematics, and timing and synchronization), vertical (consumer electronics, construction, agriculture, automotive, military, and defense, marine, and transport) and region.
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GNSS Chip Market Outlook by Category
By Device:
- Smartphones
- Tablets
- Personal Navigation Devices
- In-vehicle Systems
By Application:
- Navigation
- Mapping
- Surveying
- Location-based Services
- Telematics
- Timing and Synchronization
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
By Vertical:
- Consumer Electronics
- Construction
- Agriculture
- Automotive
- Military and Defense
- Marine
- Transport
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
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