Global GNSS Chip Market Size, Share, Development, Growth and Demand Forecast to 2023 By P&S Market Research

Market Overview

GNSS is the technical compatibility and interoperability among various satellite navigation systems, including modernized GPS, GLONASS, Galileo, Beidou, etc., that are used by civilians and military personnel to enhance safety and convenience.GNSS chips are used in a wide range of applications such as consumer electronic devices including smartphones, tablets, personal navigation devices, in-vehicle systems, wearable devices and digital cameras. The growth potential of GNSS chip market is tremendous in the coming years owing to the fast pace of technological evolution being witnessed worldwide.

Market Dynamics

The global GNSS chip market is poised to witness tremendous growth over next few years, on account of rapidly surging demand for smartphones by the expanding population in Asia-Pacific (APAC) countries. In addition, several countries in Asia-Pacific have started preparing to launch their own GNSS constellations, which would further provide a tremendous boost to the GNSS chips market growth. North American and European countries are also expected to witness high growth in the GNSS chips market due to technological evolution of communication infrastructure and widespread establishment of the internet of things (IoT) network.
Growth Drivers
With surging demand for smartphones equipped with GPS tracking function, demand for GNSS chips is also expected to increase during the forecast period. In addition, expanding market for wearable devices globally, is anticipated to further propel growth in the market for GNSS chips during the forecast period.
Opportunities
Technological evolution is a continuous phenomenon and it thus becomes necessary for human civilization to adapt itself to those evolutionary trends, where devices are attaining miniature sizes, becoming more sophisticated and thereby easing life. The expanding size of fitness conscious human generation is demanding affordable fitness bands that indicatively define the scope for the GNSS chip market.

Competitive Analysis

Some of the major players operating in the GNSS chip market are Qualcomm Incorporated, STMicroelectronics N.V., Intel Corporation, Mediatek Inc., U-Blox Holdings AG, Broadcom Corporation, Furuno Electric Co. Ltd., Skyworks Solutions Inc., Quectel Wireless Solutions Co. Ltd., and Navika Electronics.
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