Global GNSS Chip Market Size, Trends & Growth Opportunity and By Device (Tablets, Smartphones, and In-Vehicle Systems), By Application (Mapping, Navigation, Surveying, Telematics, and Location-based Services), By Region and Forecast till 2027.

Global GNSS Chip Market Size, Trends & Growth Opportunity and By Device (Tablets, Smartphones, and In-Vehicle Systems), By Application (Mapping, Navigation, Surveying, Telematics, and Location-based Services), By Region and Forecast till 2027.

Global GNSS Chip Market

The Global GNSS Chip Market is expected to grow from US$ 5,669.00 Million in 2021 to US$ 8,324.27 Million by 2027; it is estimated to grow at a CAGR of 6.61% from 2022 to 2027.

GNSS chips are known as global navigation satellite system which is used for locating the geographical position of user anywhere on earth. These are mainly used for navigation and tracking purposes in various devices. They are integral part of smartphones enabling users to navigate through paths, get accurate solutions, directions etc.

Market Drivers

Rise in demand for unmanned aerial vehicles is one of the key driving factors which are expected to boost the global GNSS chip market growth. An unmanned aerial vehicle is a system which aircraft remotely operated by an autonomous computer that has found its way to several applications for monitoring, mapping of large scale areas, and real-time assessment. Furthermore, increase in demand for 4G and 5G network coverage and high speed internet will propel the growth of global GNSS chip market during this forecast period.

Market Restraints

However, a high initial investment is required in agricultural sector is the major restraining factor which is expected to hamper the global GNSS chip market growth.

Market Opportunity

The growing demand for unmanned aerial vehicles (UAV) in a variety of applications represents a significant opportunity in the global GNSS chip market. The vast untapped uses of UAVs in civil and military fields are offering enormous prospects for the market's leading participants.

Impact of Covid-19

The onset of the COVID-19 pandemic has had a significant impact on practically all businesses. As the COVID-19 pandemic unfolds, regulatory organisations around the world are under pressure to implement stringent lockdowns and travel bans. Furthermore, this has had a significant impact on the expansion of the GNSS chip market.

The COVID-19 pandemic impacted supply chain systems since a lot of critical equipment and commodities are heavily reliant on imports from other nations. Furthermore, the stringent command of the governing authorities to obey social distancing standards caused the businesses to work with a minimum workforce, resulting in a fall in the sectors' production rate. As a result, all of these variables have a detrimental impact on the growth of the GNSS chip industry.

Segmentation By Device: GNSS Chip Market is classified on the basis of Device into Tablets, Smartphones, and In-Vehicle Systems.

Segmentation By Application: GNSS Chip Market is classified on the basis of Application into Mapping, Navigation, Surveying, Telematics, and Location-based Services.

Segmentation By Region: GNSS Chip Market is classified on the basis of Region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Throughout the projection period, Asia Pacific is predicted to be the fastest-growing market for the GNSS chip. Rapid urbanisation and a growing population are two significant factors driving the expansion of these sectors. In the future years, the Asia Pacific construction industry will continue to account for the lion's share of the GNSS chip market.

Market Key Players

Various key players are discussed in report such as Qualcomm Incorporated, Quectel Wireless Solutions Co., Ltd., Skyworks Solutions, Inc., Furuno Electric Co., Ltd., Intel Corporation, Broadcom Corporation, U-Blox Holdings AG, Mediatek Inc.,and Stmicroelectronics N.V.

Industrial Development

• U-Blox unveiled the ALEX - R5 module in January 2021, which mixes low-power wide-area (LPWA) cellular connectivity and GNSS technologies into a system-in-package. The UBX - R5 LTE - M/NB-IoT chipset with secure cloud capabilities and the U-Blox M8 GNSS chip for acceptable location accuracy for healthcare applications are the two important pieces.
• December 2021 - MediaTek announced device maker approval and endorsements for its Dimensity 9000 5G smartphone chip for next-generation flagship smartphones from OPPO, Vivo, Xiaomi, and Honor. The first flagship smartphones equipped with the Dimensity 9000 will be available in the first quarter of 2022. Smartphone users can enjoy flawless connectivity because the CPU supports the most recent Wi-Fi, Bluetooth, and GNSS standards.