What is Global GNSS Chip Market?
The Global GNSS Chip Market is a vast and dynamic sector that plays a crucial role in the world economy. GNSS, or Global Navigation Satellite System, chips are integral components in a wide range of devices that require precise positioning and timing information. These chips receive signals from multiple satellite systems, such as GPS, GLONASS, Galileo, and BeiDou, and use this data to calculate the device's exact location on Earth. The market for these chips is global in nature, with demand stemming from various industries and regions. However, the market is not just about the production and sale of GNSS chips. It also involves the research and development of new and improved chips, the creation of related software and solutions, and the provision of services related to GNSS technologies. The market is influenced by a variety of factors, including technological advancements, the increasing use of GNSS-enabled devices, and government policies and initiatives related to GNSS technologies.
High Precision GNSS Chips, Standard Precision GNSS Chips in the Global GNSS Chip Market:
The Global GNSS Chip Market is segmented into two main types: High Precision GNSS Chips and Standard Precision GNSS Chips. High Precision GNSS Chips are designed to provide extremely accurate positioning and timing information, often within a few centimeters. These chips are typically used in applications that require a high level of precision, such as surveying, mapping, and precision agriculture. On the other hand, Standard Precision GNSS Chips are more commonly used in consumer devices, such as smartphones and in-vehicle systems. While they may not provide the same level of accuracy as high precision chips, they are generally more affordable and consume less power, making them suitable for mass-market applications. Both types of chips play a crucial role in the Global GNSS Chip Market, with their demand and supply dynamics influencing the overall market trends.
Smartphones, Tablets, Personal Navigation Devices, In-Vehicle Systems, Wearable Devices, Digital Cameras, Others in the Global GNSS Chip Market:
The Global GNSS Chip Market finds its application in a wide range of areas. Smartphones and tablets, for instance, use GNSS chips for location-based services, such as navigation and location tracking. Personal Navigation Devices, or PNDs, which are dedicated handheld devices for navigation, also rely on these chips. In-Vehicle Systems, such as car navigation systems and fleet management systems, use GNSS chips to provide real-time location information and route guidance. Wearable devices, like smartwatches and fitness trackers, use these chips for tracking activities and providing location-based features. Digital cameras use GNSS chips to geotag photos, while other devices, such as drones and IoT devices, use these chips for various positioning and timing-related functions.
Global GNSS Chip Market Outlook:
The Global GNSS Chip Market, as per the recent market outlook, has shown promising growth. In 2022, the market was valued at US$ 2911 million. It is projected to reach a value of US$ 4085 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 4.9% during the forecast period of 2023-2029. This growth can be attributed to the increasing demand for GNSS-enabled devices and the continuous advancements in GNSS technologies. The market is dominated by the top five manufacturers, who collectively hold about 60% of the market share. In terms of product types, Standard Precision GNSS Chips form the largest segment, accounting for about 70% of the market. This dominance can be attributed to their widespread use in consumer devices, affordability, and lower power consumption compared to high precision chips.
| Report Metric | Details |
| Report Name | GNSS Chip Market |
| Accounted market size in 2022 | US$ 2911 in million |
| Forecasted market size in 2029 | US$ 4085 million |
| CAGR | 4.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | Qualcomm, Broadcom, Mediatek, U-blox, STM, Intel, Furuno Electric |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
