PUBLISHER: The Insight Partners | PRODUCT CODE: 1463824
PUBLISHER: The Insight Partners | PRODUCT CODE: 1463824
The GNSS chip market size was valued at US$ 4.89 billion in 2022 and is expected to reach US$ 9.19 billion by 2030; it is estimated to record a CAGR of 8.2% from 2022 to 2030.
The scope of the GNSS chip market report covers North America, Europe, Asia Pacific, Middle East and Africa, South and Central America.
In 2020, Europe held 25.7% of the GNSS chip market share, and Germany accounts for a substantial share in the regional market, followed by the UK and France. Future growth perspectives are promising, as multi-GNSS applications and user uptake in Central and Eastern Europe are expected to increase. In addition, the increasing penetration in the aviation sector will positively influence the market growth, as flights were designed to use performance-based navigation (PBN), and already more than 460 EGNOS-enabled approaches are operational in Europe. GNSS is the leading means of obtaining position, navigation, and timing (PNT) information at sea. Multi-GNSS solutions are favored, with Europe being the third-largest worldwide market for maritime GNSS devices.
Several European countries have initiated projects to develop advanced UAVs, as the attainment of technology from abroad goes contrary to European industrial interests and compromises the EU's industrial autonomy. The "Euro drone Project" is one of the major projects in the region backed by the European Defense Agency; the project aims to provide a European MALE UAV by 2025. Germany, France, Italy, and Spain are among the countries that are at the forefront of these developments.
The growth of the GNSS chip market share of Asia Pacific is due to the presence of significant manufacturers in the region. In APAC, the major consumer electronics manufacturers focus on developing innovative products that require recording locations and real-time data for tracking by using various devices such as smartphones, wearable devices, and tablets. Hence, the growing popularity of wearable devices and the ongoing technological advancements in the consumer electronics sector in APAC fuel the growth of the GNSS chip market. Moreover, several companies in the region are engaged in launching satellite positioning chips. For instance, in December 2023, Airoha Technology, specializing in fixed broadband network infrastructure and advanced Artificial Intelligence of Things, launched the AG3335MA satellite positioning chip series. This series passed the AEC-Q100 Grade 2 reliability qualification tests for automotive applications. Additionally, the company successfully integrated this series of chips with its parent company, MediaTek, and its Dimensity auto platform, providing highly integrated solutions and technical testing services to automotive manufacturers worldwide.
Augmented reality (AR) applications rely heavily on accurate and real-time location data, which GNSS chips provide. As AR adoption grows across various sectors such as gaming, retail, and manufacturing, the demand for GNSS chips is likely to upsurge. In addition, AR is transforming GNSS surveying stakeouts through real-time visualization, improved accuracy, and increased efficiency. Also, through the intuitive and immersive experience that augmented reality offers, surveyors can better understand the context and layout of the surveying site. During stakeout activities, this enhanced spatial awareness helps facilitate more informed decision-making. Thus, the combined influence of big data, augmented reality, and other factors is likely to propel the GNSS chip market growth in the coming years.
GNSS Chip Market Segments:
The GNSS chip market analysis has been carried out by considering the following segments: device, application, and vertical. Based on device, the market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. By application, the GNNS chip market is segmented into navigation & location-based services, mapping, surveying, telematics, timing and synchronization, and others. Further, the GNNS chip market, by vertical, is segmented into consumer electronics, automotive & transportation, military & defense, and others. The report includes growth prospects in light of current GNSS chip market trends and driving factors influencing the market growth.
GNSS Chip Market Competitive Landscape and Key Developments
The GNSS chip market report covers the company profiling of major players such as Qualcomm Inc, SkyTraq Technology Inc, Broadcom Inc, Septentrio NV, Trimble Inc, Furuno Electric Co Ltd, MediaTek Inc, STMicroelectronics NV, Skyworks Solutions Inc, u-blox Holding AG. Several other essential GNSS chip market players were analyzed to get a holistic view of the market and its ecosystem. The GNSS chip market forecast can help stakeholders plan their growth strategies.