“Global GNSS chip market to exhibit significant growth between 2016 and 2022”
The GNSS chip market is expected to grow at a CAGR of 7.9% between 2016 and 2022 to reach USD 5.22 billion by 2022. The key driving factors for the growth of the GNSS chip market include the growing need for wearable electronics; rising demand for real-time analysis in surveying, navigation, mapping, and other positioning applications; and high penetration of electronic devices, wearables, and connecting devices. However, high initial investments are restraining the growth of the GNSS chip market.
“Smartphone to dominate the GNSS chip market during the forecast period”
Smartphones held the largest size of the GNSS chip market in 2015. GNSS chips in smartphones are used for applications such as location-based services (LBS), online games, and mobile geographic information systems (GISs), among others. Smartphones are expected to hold the largest size of the GNSS chip market during the forecast period due to the increasing demand in developing countries and the need for real-time information pertaining to the exact location of vehicles, individuals, and other assets.
“Automotive vertical to hold a major share of the GNSS chip market during the forecast period”
The market for the automotive vertical is expected to grow at a high rate between 2016 and 2022. GNSS chips are being used in the automotive sector in applications such as connected cars and in-vehicle systems. Vehicle-detection and surveillance technologies are continuously being upgraded for enhanced speed monitoring, traffic counting, and vehicle classification. Connected cars are equipped with devices that enable Internet access using GNSS chips and allow them to communicate with other cars on the road and infrastructure?including traffic stop signals, satellites, cloud-based services, and road-side antennas, among others.
“APAC to be the fastest-growing market for GNSS chip during the forecast period”
APAC is expected to be the fastest-growing market for GNSS chip during the forecast period. The major consumer electronics manufacturers in APAC are focused toward launching new and innovative products that require real-time data for tracking and recording particular locations using various devices such as smartphones, wearable devices, tablets, and so on. Therefore, the ongoing technological advancements in the consumer electronics sector and the growing popularity of wearable devices in APAC are fueling the growth of the GNSS chip market in this region.
The break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 – 45%, Tier 2 – 30%, and Tier 3 – 25%
- By Designation: C–Level Executives – 63% and Directors– 37%
- By Region: North America - 33%, Europe – 23%, APAC – 32%, and RoW – 12%
The key players operating in the GNSS chip market include Qualcomm Incorporated (U.S.), STMicroelectronics N.V. (Switzerland), Intel Corporation (U.S.), Mediatek Inc. (Taiwan), U-Blox Holdings AG (Switzerland), Broadcom Corporation (U.S.), Furuno Electric Co., Ltd. (Japan), Skyworks Solutions, Inc. (U.S.), Quectel Wireless Solutions Co., Ltd. (China), and Navika Electronics (India).
The research report on the global GNSS chip market covers the market on the basis of device, application, vertical, and geography. The market, on the basis of devices, has been segmented into smartphones, personal navigation devices (PNDs), tablets, in-vehicle systems (IVSs), and others. On the basis of verticals, the GNSS chip market has been classified into consumer electronics, construction, agriculture, automotive, military and defense, and marine. Further, the GNSS chip market, on the basis of application, has been segmented into navigation, mapping, surveying, telematics, and others. The report covers four major geographical regions, namely, North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
- Illustrative segmentation, analysis, and forecast for the market based on device, application, vertical, and geography have been conducted to give an overall view of the GNSS chip market.
- The Porter’s five forces framework has been utilized, along with the value chain analysis, to provide an in-depth insight into the GNSS chip market.
- The major drivers, restraints, opportunities, and challenges for the flexible battery market have been detailed in this report.
- The report includes a detailed competitive landscape, along with key players, in-depth analysis, and revenue of the key players.