Global Navigation Satellite System (GNSS) Chip Market Report 2024: Size, Drivers, And Top Segments
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The global navigation satellite system (GNSS) chip market size has grown strongly in recent years. It will grow from $5.42 billion in 2023 to $5.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to rise of satellite navigation systems, increasing adoption in consumer devices, government initiatives and investments, increasing adoption in agriculture and surveying, and rise in autonomous vehicles.
The global navigation satellite system (GNSS) chip market size is expected to see strong growth in the next few years. It will grow to $67.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to Increasing Demand For Accurate Real-Time Data, High Penetration Of Consumer Electronic Devices, internet of things (IoT) Expansion, Advancements In Satellite Constellations, and Integration Of Multiple Satellite Systems. Major trends in the forecast period include advanced signal processing and machine learning, 5G integration and connectivity, miniaturization and low-power design, multi-constellation and multi-frequency support, and integration with inertial navigation systems (INS).
The increasing demand for consumer electronics is expected to propel the growth of the global navigation satellite system (GNSS) chip market going forward. Consumer electronics refers to an industry that involves designing, developing, and producing electronic devices for personal use. GNSS chips in consumer electronics enable precise location services, enhancing navigation and location-based functionalities in devices such as smartphones and wearables to provide critical information for emergency response and search and rescue operations.
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What Are The Key Trends That Influence Global Navigation Satellite System (GNSS) Chip Market Share Analysis?
Major companies operating in the global navigation satellite system (GNSS) chip market are focused on developing innovative products with advanced technological solutions, such as wide-area real-time kinematics technology, to strengthen their position in the market. Wide-area real-time Kinematics (WARTK) is a technology that supports precise and real-time positioning over a large geographic area.
Which Market Players Are Driving Growth In The Global Navigation Satellite System (GNSS) Chip Market?
Major companies operating in the global navigation satellite system (GNSS) chip market are Sony Group Corporation, Intel Corporation, Qualcomm Technologies Inc., Broadcom Inc., Fujitsu Limited, Thales Group, Mediatek Inc., STMicroelectronics N.V., Hexagon, Skyworks Solutions Inc., Trimble Inc., Belden Inc, Quectel Wireless Solutions Co. Ltd, Topcon Corporation, Furuno Electric Co. Ltd, U-blox Holdings AG, Telit Communications PLC, NovAtel Inc., STONEX Srl, Rakon Limited, Hemisphere GNSS, SparkFun Electronics, Harxon Corporation, Septentrio N.V., LOCOSYS Technology Inc., Syntony GNSS, ComNav Technology Ltd., Hunan Bynav Technology, Tallysman Wireless Inc., OriginGPS Ltd.
How Is The Global Global Navigation Satellite System (GNSS) Chip Market Segmented?
1) By Device Type: Smartphones; Tablets And Wearables; Personal Tracking Devices; Low-Power Asset Trackers; In-Vehicle Systems; Drones; Other Device Types
2) By Application: Navigation; Mapping; Location-Based Services; Surveying; Telematics; Timing And Synchronization; Other Applications
3) By Vertical: Consumer Electronics; Construction; Agriculture; Automotive; Military And Defense; Marine; Transport
Read The Full Global Navigation Satellite System (GNSS) Chip Market Report Here
The Global Navigation Satellite System (GNSS) Chip Global Market Report 2024 provides an overview of the global navigation satellite system (GNSS) chip market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The global navigation satellite system (GNSS) chip market forecast analyzes global navigation satellite system (GNSS) chip market size, global navigation satellite system (GNSS) chip market share, leading competitor and their market positions.
The Table Of Content For The Global Navigation Satellite System (GNSS) Chip Market Include
1. Global Navigation Satellite System (GNSS) Chip Market Executive Summary
2. Global Navigation Satellite System (GNSS) Chip Market Segments
3. Global Navigation Satellite System (GNSS) Chip Market Size And Template Market Growth Rate
4. Key Global Navigation Satellite System (GNSS) Chip Market Trends
5. Major Global Navigation Satellite System (GNSS) Chip Market Drivers
……
25. Key Mergers And Acquisitions In The Global Navigation Satellite System (GNSS) Chip Market
26. Top Global Navigation Satellite System (GNSS) Chip Companies
27. Global Navigation Satellite System (GNSS) Chip Market Opportunities And Strategies
28. Global Navigation Satellite System (GNSS) Chip Market, Conclusions And Recommendations
29. Appendix
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