Global GNSS Chip Market was valued at USD 3.73 Billion for the year 2017. GNSS Chip Market is further expected to grow at a CAGR of 7.25% from 2018 to reach USD 5.68 Billion by the year 2025. North America region holds the highest market share in 2017. While Asia Pacific region is considered as the fastest growing market in the forecasted period. The U.S. is the major market in 2017 at country level and it is further anticipated to grow at a steady pace in the next 5 years.
Global GNSS Chip Market Share by 2025 (UDS Billion)
On the other hand, surveying segment is expected to grow at the highest CAGR during the forecasted period. The growth is expected due to developments in sectors like construction, marine, infrastructure monitoring, mine surveying and urban development plans like smart city concepts. Thus, GNSS chip market has a solid growth potential in developing and developed countries across the globe.
The major market players in GNSS chip market are Broadcom Corporation, Skyworks Solutions Inc., Qualcomm Incorporated, Intel Corporation, U-Blox Holdings AG, Stmicroelectronics N.V., Telit Communications PLC, Furuno Electric Co. Ltd., Quectel Wireless Solutions Co. Ltd., Mediatek Inc. and ther 13 companies is provided in research report. Growing research and development expenditures to address changing demand of consumers, new product launches in recent years are some of the key market drivers. In the last 5 years, growth strategy like acquisition was adopted by most of the top manufacturers to reduce competition & expand the distribution network.
The Location-Based Services segment is expected to hold the highest market share during the forecast period. The Location Based Services include applications that are supported by devices like smartphones, tablets, personal tracking devices, and wearables. With the increasing number of smartphone users and developments in different sectors like transportation, Location-Based Segment is expected to hold the highest market share.
GNSS Chip Market Overview By Receiver
Global Positioning System (GPS)
Beidou Navigation Satellite System
Global Navigation Satellite System (GloNASS)
GNSS Chip Market Overview By Implementation Type
GNSS Chip Market Overview By Product
GNSS Chip Market Overview By Application
Location Based Services
GNSS Chip Market Overview By Region
• Rest of Europe
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa