North America being a technologically advanced country in which the GNSS chip market has become almost saturated is predicted to grow at a lesser pace than Asia Pacific.
The global navigational satellite syst…GNSS) chip market at present is a fragmented one where no player has clear majority. Driving their market forward is the increasing use of GNSS devices in security applications and various new applications in roadways, railways, aviation, marine industry and defense.
Besides, rise in connected cars and growing manufacture of smartphones are also slated to place the market on a solid growth trajectory in the years to come.
GNSS allows users to find out the position of other people or objects and also determine their position.
Hence they are finding application in security, humanitarian services, and emergency services such as locating stolen property, person, or pets. For instance, Galileo, a GNSS system, is equipped with an application named Search and Rescue (SAR), which sends forth an emergency positioning signal that is received by satellites enabling for quick emergency response in case of a plane crash or a water vessel capsizing.
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According to report, the global GNSS chip market to rise at a 7.7% CAGR, in terms of value, from 2017 to 2025. Expanding at this pace, the market is expected to become worth US$34.71 bn by 2025 from US$ 17.90 bn in 2016.
In terms of volume, the report forecasts the market to expand at a CAGR of 8.7% to become worth 9.16 billion units by 2025 from 4.31 billion units in 2016.
Rising Use of Smartphones for Locating People and Places makes it Dominant Device Segment
The different types of devices in the global GNSS chip market are in-vehicle networking systems, smart phones, personal navigational devices, and others such as smart wearable devices, including smart watches, smart glasses, smart rings, etc. The smart phones segment, at present, holds a dominant share in the market and in the years ahead is predicted to maintain that dominant share.
This is mainly on account of the rising use of smartphones for navigational purpose, tracking people and object, and finding a place. In terms of growth rate, however, the in-vehicle networking systems is predicted to surpass all other segments by registering a CAGR of 10.5% vis-à-vis value from 2017 to 2025 on the back of growing connectivity in vehicles to accord better safety and driving experience.
North America to Lose out on Growth Front due to High Degree of Market Saturation
Geography-wise, the leading region in the global GNSS chip market is North America. The region dominates both in terms of value and volume and by clocking a CAGR of 6.4% is predicted to become worth US$10.22 bn by 2025.
Europe is another key region in terms of market share, but it is Asia Pacific that is expected to grow its share the most in the next couple of years by clocking maximum CAGR of 10.0%.
North America being a technologically advanced country in which the GNSS chip market has become almost saturated is predicted to grow at a lesser pace than Asia Pacific. The market in the latter, powered by China, Australia, Japan, and India, is expected to outpace others because of the increasing use of GNSS devices in agricultural, defense, and infrastructure upgrading comprising of improving of railway network.
Global GNSS Chip Market: Segmentation
The study provides a decisive view of the GNSS chip market by segmenting it based on type of devices, end-use industry and regional demand. The type of devices, and end-use industry segments have been analyzed based on current trends and future potential.
The market has been estimated from 2017 to 2025 in terms of volume (Billion Units) and value (US$ Bn). Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
These have been further sub-segmented into countries with relevance to the market. The segmentation also includes demand for individual applications in all regions.
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The study covers the drivers and restraints governing the dynamics of the market along with their impact on demand during the forecast period. Additionally, the report includes potential opportunities in the GNSS chip market on the global and regional level.
The study encompasses market attractiveness analysis, wherein end-use industries have been benchmarked based on their market size, growth rate, and general attractiveness for future growth.
The market has been forecast based on constant currency rates. Prices of GNSS chip vary in each region and are a result of the demand-supply scenario in the region.
Hence, a similar volume-to value ratio does not follow for each individual region. Individual pricing of GNSS chip for each application has been taken into account while estimating and forecasting market revenue on a global basis.
Regional average price has been considered while breaking down the market into segments in each region.
Global GNSS Chip Market: Competitive Landscape
Some of the leading market players in the GNSS chip market are Qualcomm Incorporated (, United States), ST Microelectronics N.V. (Switzerland), Mediatek Inc. (Taiwan), U-Blox Holdings AG (Switzerland), Intel Corporation (United States), Furuno Electric Co., Ltd.
(Japan), Broadcom Corporation (United States), Quectel Wireless Solutions Co., Ltd. (United States), Skyworks Solutions Inc.
(United States), and Navika Electronics (India) among others.
The global GNSS chip market has been segmented into:
Global GNSS Chip Market, By Type of Devices
- Smart Phones
- In-Vehicle Networking Systems
- Personal Navigational Devices
Global GNSS Chip Market, By End-Use Industry
- Consumer Electronics
- Marine Industry
Global GNSS Chip Market, By Geography
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- South Africa
- Rest of Middle East and Africa
- Latin America
- Rest of Latin America
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