The GNSS Chip Market is thoroughly scrutinized in this research report. Key players such as Broadcom Corp., Skyworks Solutions, Inc., Qualcomm Incorporated and Others are examined. Forecasts to 2023 are also provided.
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 2023.
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.
Broadcom Corporation, Qualcomm Incorporated, and Skyworks Solutions Inc. are some of the top producers in the GNSS Chip Market with highest market share were held by Qualcomm Incorporated in 2017.
Better global reach, both at production and at an operational level is the main reason for holding this highest market share. 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.
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Increasing number of smartphone/ tablet users
Innovative and advanced technology for town planning and advanced survey techniques
Changing government regulations & policies as per region
Growth in the smartwatch market (wearable devices) and in-vehicle navigation devices
Introduction of autonomous vehicles
Estimating the demand to manage production capacity
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.
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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.
Key Benefits for Stakeholders
GNSS chip manufacturers, distributors, and retailers
Consumer electronics & automotive manufacturers
Technology alliances and associations
Global Positioning System (GPS)
Beidou Navigation Satellite System
Global Navigation Satellite System (GLONASS)
By Implementation Type
Location Based Services
Key Market Players
Skyworks Solutions, Inc.
U-Blox Holdings AG
Telit Communications PLC
Furuno Electric Co., Ltd.
Quectel Wireless Solutions Co., Ltd.
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