HOME Top Market Reports GNSS Chip Market by Devices (Smartphones, In-Vehicle Systems, Tablets, Personal Navigation), Application (Location-Based Services, Navigation, Telematics, Surveying, Mapping, Timing & Synchronization), Vertical and Geography - Global Forecast to 2022

GNSS Chip Market by Devices (Smartphones, In-Vehicle Systems, Tablets, Personal Navigation), Application (Location-Based Services, Navigation, Telematics, Surveying, Mapping, Timing & Synchronization), Vertical and Geography - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: February 2017
Report Code: SE 5039

 

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The GNSS chip market was valued at USD 3.11 Billion in 2015 and is expected to grow at a CAGR of 7.9% between 2016 and 2022. With the growing demand for high-speed internet for applications such as distance learning, autonomous driving, multi-user gaming, and video calling, among others, the requirement for 4G/5G network is increasing rapidly. The increasing demand of IoT and miniaturized portable products are the key driving factors for the GNSS chip market. The base year considered for the study is 2015 and the forecast period is considered between 2016 and 2022. The objective of the report is to provide a detailed analysis of the GNSS chip market on the basis of device, application, vertical, and geography. The report provides detailed information regarding the major factors influencing the growth of this market. It also gives a detailed overview of the value chain in the GNSS chip market, analyzes the market trends, and provides the Porter's five forces analysis.

The research methodology used to estimate and forecast this market begins with capturing data on key vendor revenue through secondary research such as IEEE journals, The Journal of Navigation, and leading players’ newsletters. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global GNSS chip market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews of people holding key positions such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries has been depicted in the following figure.

GNSS Chip Market

To know about the assumptions considered for the study, download the pdf brochure

The GNSS chip ecosystem comprises chip manufacturers, system integrators, and distributors. The players involved in the development of GNSS chip 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).

Target Audience of the Report:

  • Associations and industrial bodies
  • Chip manufacturers
  • Consumer electronics and other electronics device manufacturers
  • Wearable device manufacturers
  • Research and development organizations
  • System integrators
  • Technology providers and investors

“This study answers several questions for the stakeholders, primarily which market segments to focus on in the next two to five years for prioritizing efforts and investments.”

Scope of the Report:

This research report categorizes the global GNSS chip market on the basis of device, application, vertical, and geography.

GNSS Chip Market, by Device:

  • Smartphones
  • Tablets
  • Personal Navigation Devices
  • In-Vehicle systems
  • Others (Wearable Devices and Digital Cameras)

GNSS Chip Market, by Application:

  • Navigation
  • Mapping
  • Surveying
  • Location-Based Services
  • Telematics
  • Timing and Synchronization
  • Others

GNSS Chip Market, by Vertical:

  • Consumer Electronics
  • Construction
  • Agriculture
  • Automotive
  • Military & Defense
  • Marine
  • Transport

GNSS Chip Market, by Geography:

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Rest of the World (RoW)

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the companies’ specific needs. The following customization options are available for the report:

Company Information:

Detailed analysis and profiling of additional market players (up to five)

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data Points From Primary Sources
                    2.1.2.2 Key Industry Insights
           2.1.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing the Market Share By Bottom-Up Analysis
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 29)

4 Introduction (Page No. - 35)
    4.1 Attractive Opportunities in the GNSS Chip Market
    4.2 GNSS Chip Market, By Device
    4.3 GNSS Chip Market, By Application
    4.4 GNSS Chip Market, By Vertical and Geography
    4.5 GNSS Chip Market, By Geography
    4.6 GNSS Chip Market in Major Countries/Regions

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Device
           5.2.2 By Application
           5.2.3 By Vertical
           5.2.4 By Geography
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Demand for Accurate Real-Time Data
                    5.3.1.2 High Penetration of Consumer Electronic Devices
                    5.3.1.3 Rising Demand for High-Speed Internet and Network Coverage Such as 4g/5g Enabled Devices
                    5.3.1.4 Growing Popularity of Iot
           5.3.2 Restraints
                    5.3.2.1 High Initial Investments in Agricultural Applications
           5.3.3 Opportunities
                    5.3.3.1 Increasing Demand for Unmanned Aerial Vehicles (UAVS) in Several Applications
                    5.3.3.2 Growing Demand for Wearables Electronics
           5.3.4 Challenges
                    5.3.4.1 Indoor Navigation

6 Industry Trends (Page No. - 47)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Buyers
           6.3.4 Bargaining Power of Suppliers
           6.3.5 Intensity of Competitive Rivalry

7 GNSS Chip Market, By GNSS Receiver (Page No. - 55)
    7.1 Introduction
    7.2 Global Positioning System (GPS)
    7.3 Galileo
    7.4 Global Navigation Satellite System (GloNASS)
    7.5 Satellite-Based Augmentation System (SBAS)
    7.6 Beidou Navigation Satellite System

8 GNSS Chip Market, By Device (Page No. - 59)
    8.1 Introduction
    8.2 Smartphones
           8.2.1 Rising Trend of Miniaturization Driving the Demand for GNSS Chips in Smartphones
    8.3 Tablets
           8.3.1 Large Screen Size Considered as the Primary Advantage of Tablets
    8.4 Personal Navigation Devices
           8.4.1 Cost-Effective, Portable, Universal, and Can Be Easily Upgraded
    8.5 In-Vehicle Systems
           8.5.1 Increased Standard of Living, Changing Preferences of Buyers, and Increased Average Miles is Driving the Market for In-Vehicle Systems
    8.6 Others (Wearable Devices and Digital Cameras)

9 GNSS Chip Market, By Application (Page No. - 75)
    9.1 Introduction
    9.2 Navigation
    9.3 Mapping
    9.4 Surveying
    9.5 Location-Based Services
           9.5.1 Augmented Reality
    9.6 Telematics
    9.7 Timing and Synchronization
    9.8 Others
           9.8.1 Gaming
           9.8.2 Weather Forecasting

10 GNSS Chip Market, By Vertical (Page No. - 95)
     10.1 Introduction
     10.2 Consumer Electronics
     10.3 Construction
             10.3.1 Commercial
             10.3.2 Non-Commercial
     10.4 Agriculture
             10.4.1 Automatic Steering and Tractor Guidance
     10.5 Automotive
     10.6 Military & Defense
     10.7 Marine
             10.7.1 Traffic Management
             10.7.2 Merchant Vessels
             10.7.3 Fishing Vessels
     10.8 Transport
             10.8.1 Rail

11 GNSS Chip Market, By Geography (Page No. - 106)
     11.1 Introduction
     11.2 North America
             11.2.1 U.S.
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 Germany
             11.3.2 U.K.
             11.3.3 France
             11.3.4 RoE
     11.4 Asia-Pacific (APAC)
             11.4.1 China
             11.4.2 Japan
             11.4.3 South Korea
             11.4.4 Taiwan
             11.4.5 RoAPAC
     11.5 Rest of the World (RoW)
             11.5.1 South America
             11.5.2 Middle East
             11.5.3 Africa

12 Competitive Landscape (Page No. - 126)
     12.1 Overview
     12.2 Ranking Analysis of the Players in the GNSS Chip Market
     12.3 Competitive Situations and Trends
             12.3.1 New Product Launches & Developments
             12.3.2 Partnerships and Agreements/ Collaborations
             12.3.3 Mergers & Acquisitions
             12.3.4 Expansions

13 Company Profiles (Page No. - 134)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     13.1 Introduction
     13.2 Qualcomm Incorporated
     13.3 Stmicroelectronics N.V.
     13.4 Mediatek Inc.
     13.5 U-Blox Holdings AG
     13.6 Broadcom Corporation
     13.7 Intel Corporation
     13.8 Furuno Electric Co., Ltd.
     13.9 Skyworks Solutions, Inc.
     13.10 Quectel Wireless Solutions Co., Ltd.
     13.11 Navika Electronics
     13.12 Key Innovators
             13.12.1 Eagle Uav Services
             13.12.2 Misfit Inc.
             13.12.3 Hemisphere GNSS

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 160)
     14.1 Insights of Industry Experts
     14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.3 Introducing RT: Real-Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details


List of Tables (70 Tables)

Table 1 GNSS Chip Market, (In Terms of Value and Volume) (2013–2022)
Table 2 GNSS Chip Market, By Device
Table 3 GNSS Chip Market, By Application
Table 4 GNSS Chip Market, By Vertical
Table 5 SBAS in Different Countries
Table 6 GNSS Chip Market, By Device, 2013–2022 (USD Million)
Table 7 GNSS Chip Market for Smartphones, By Application, 2013–2022 (USD Million)
Table 8 GNSS Chip Market for Smartphones, By Vertical, 2013–2022 (USD Million)
Table 9 GNSS Chip Market for Smartphones, By Region, 2013–2022 (USD Million)
Table 10 GNSS Chip Market for Tablets, By Application, 2013–2022 (USD Million)
Table 11 GNSS Chip Market for Tablets, By Vertical, 2013–2022 (USD Million)
Table 12 GNSS Chip Market for Tablets, By Region, 2013–2022 (USD Million)
Table 13 GNSS Chip Market for Personal Navigation Devices, By Application, 2013–2022 (USD Million)
Table 14 GNSS Chip Market for Personal Navigation Devices, By Vertical, 2013–2022 (USD Million)
Table 15 GNSS Chip Market for Personal Navigation Devices, By Region, 2013–2022 (USD Million)
Table 16 GNSS Chip Market for In-Vehicle Systems, By Application, 2013–2022 (USD Million)
Table 17 GNSS Chip Market for In-Vehicle Systems, By Vertical, 2013–2022 (USD Million)
Table 18 GNSS Chip Market for In-Vehicle Systems, By Region, 2013–2022 (USD Million)
Table 19 GNSS Chip Market for Other Devices, By Application, 2013–2022 (USD Million)
Table 20 GNSS Chip Market for Other Devices, By Vertical, 2013–2022 (USD Million)
Table 21 GNSS Chip Market for Other Devices, By Region, 2013–2022 (USD Million)
Table 22 GNSS Chip Market, By Application, 2013–2022 (USD Million)
Table 23 GNSS Chip Market for Navigation, By Device, 2013–2022 (USD Million)
Table 24 GNSS Chip Market for Navigation, By Vertical, 2013–2022 (USD Million)
Table 25 GNSS Chip Market for Navigation, By Region, 2013–2022 (USD Million)
Table 26 GNSS Chip Market for Mapping, By Device, 2013–2022 (USD Million)
Table 27 GNSS Chip Market for Mapping, By Vertical, 2013–2022 (USD Million)
Table 28 GNSS Chip Market for Mapping, By Region, 2013–2022 (USD Million)
Table 29 Different Type of Survey Methods and Their Applications
Table 30 GNSS Chip Market for Surveying, By Device, 2013–2022 (USD Million)
Table 31 GNSS Chip Market for Surveying, By Vertical, 2013–2022 (USD Million)
Table 32 GNSS Chip Market for Surveying, By Region, 2013–2022 (USD Million)
Table 33 GNSS Chip Market for Location-Based Services, By Device, 2013–2022 (USD Million)
Table 34 GNSS Chip Market for Location-Based Services, By Vertical, 2013–2022 (USD Million)
Table 35 GNSS Chip Market for Location-Based Services, By Region, 2013–2022 (USD Million)
Table 36 GNSS Chip Market for Telematics, By Device, 2013–2022 (USD Million)
Table 37 GNSS Chip Market for Telematics, By Vertical, 2013–2022 (USD Million)
Table 38 GNSS Chip Market for Telematics, By Region, 2013–2022 (USD Million)
Table 39 GNSS Chip Market for Timing & Synchronization, By Device, 2013–2022 (USD Million)
Table 40 GNSS Chip Market for Timing & Synchronization, By Vertical, 2013–2022 (USD Million)
Table 41 GNSS Chip Market for Timing & Synchronization, By Region, 2013–2022 (USD Million)
Table 42 GNSS Chip Market for Other Applications, By Device, 2013–2022 (USD Million)
Table 43 GNSS Chip Market for Other Applications, By Vertical, 2013–2022 (USD Million)
Table 44 GNSS Chip Market for Other Applications, By Region, 2013–2022 (USD Million)
Table 45 GNSS Chip Market, By Vertical, 2013–2022 (USD Million)
Table 46 GNSS Chip Market for Consumer Electronics, By Device, 2013–2022 (USD Million)
Table 47 GNSS Chip Market for Construction, By Device, 2013–2022 (USD Million)
Table 48 GNSS Chip Market for Agriculture, By Device, 2013–2022 (USD Million)
Table 49 GNSS Chip Market for Automotive, By Device, 2013–2022 (USD Million)
Table 50 GNSS Chip Market for Military & Defense, By Device, 2013–2022 (USD Million)
Table 51 GNSS Chip Market for Marine, By Device, 2013–2022 (USD Million)
Table 52 GNSS Chip Market for Transport, By Device, 2013–2022 (USD Million)
Table 53 GNSS Chip Market, By Region, 2013–2022 (USD Million)
Table 54 GNSS Chip Market in North America, By Device, 2013–2022 (USD Million)
Table 55 GNSS Chip Market in North America, By Application, 2013–2022 (USD Million)
Table 56 GNSS Chip Market in North America, By Country, 2013–2022 (USD Million)
Table 57 GNSS Chip Market in Europe, By Device, 2013–2022 (USD Million)
Table 58 GNSS Chip Market in Europe, By Application, 2013–2022 (USD Million)
Table 59 GNSS Chip Market in Europe, By Country/Region, 2013–2022 (USD Million)
Table 60 GNSS Chip Market in APAC, By Device, 2013–2022 (USD Million)
Table 61 GNSS Chip Market in APAC, By Application, 2013–2022 (USD Million)
Table 62 GNSS Chip Market in APAC, By Country/Region, 2013–2022 (USD Million)
Table 63 GNSS Chip Market in RoW, By Device, 2013–2022 (USD Million)
Table 64 GNSS Chip Market in RoW, By Application, 2013–2022 (USD Million)
Table 65 GNSS Chip Market in RoW, By Region, 2013–2022 (USD Million)
Table 66 Top Players in the GNSS Chip Market, 2015
Table 67 New Product Launches & Developments, 2014–2016
Table 68 Partnerships /Agreements/Collaborations (2014–2016)
Table 69 Mergers & Acquisitions (2014–2016)
Table 70 Expansions (2014–2016)


List of Figures (70 Figures)

Figure 1 GNSS Chip Market: Markets Covered
Figure 2 GNSS Chip Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Assumptions of the Research Study
Figure 7 GNSS Chip Market, 2013–2022 (USD Billion and Billion Units)
Figure 8 GNSS Chip Market, By Device, 2013–2022 (USD Million)
Figure 9 GNSS Chip Market for Location-Based Services to Grow at the Highest Rate Between 2016 and 2022
Figure 10 Automotive Vertical to Dominate the GNSS Chip Market During the Forecast Period
Figure 11 GNSS Chip Market in APAC to Grow at the Highest Rate During the Forecast Period
Figure 12 Increasing Demand for Location-Based Services to Create Growth Opportunities for the GNSS Chip Market Between 2016 and 2022
Figure 13 Smartphones to Hold the Largest Size of the GNSS Chip Market During the Forecast Period
Figure 14 Location-Based Services to Dominate the GNSS Chip Market By 2022
Figure 15 Automotive Held the Largest Share of the GNSS Chip Market in 2016
Figure 16 APAC Expected to Dominate the GNSS Chip By 2022
Figure 17 U.S. Held the Largest Share of the GNSS Chip Market in 2016
Figure 18 Market, By Geography
Figure 19 Increasing Demand for Real-Time Data Encouraging the Adoption of GNSS Chips
Figure 20 Market for Wearable Technology (2013–2020)
Figure 21 GNSS Chip Market: Value Chain Analysis
Figure 22 GNSS Chip Market: Porter’s Five Forces Analysis, 2016
Figure 23 Intensity of Competitive Rivalry has High Impact on the Market
Figure 24 High Impact of Threat of New Entrants on the GNSS Chip Market
Figure 25 Low Impact of Threat of Substitutes on the GNSS Chip Market
Figure 26 High Impact of Bargaining Power of Buyers on the GNSS Chip Market
Figure 27 Medium Impact of Bargaining Power of Suppliers on the GNSS Chip Market
Figure 28 High Impact of Intensity of Competitive Rivalry on the GNSS Market
Figure 29 Types of GNSS Receivers
Figure 30 GNSS Chip Market, By Device
Figure 31 Market for In-Vehicle Systems Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 32 GNSS Chip Market for Automotive Vertical to Grow at the Highest Rate Between 2016 and 2022
Figure 33 GNSS Chip Market for In-Vehicle Systems in APAC Expected to Grow at the Highest Rate Between 2016 and 2022
Figure 34 GNSS Chip Market, By Application
Figure 35 Location-Based Services Dominated the GNSS Chip Market During the Forecast Period
Figure 36 GNSS Chip Market for Navigation Application in APAC Expected to Grow at the Highest Rate During the Forecast Period
Figure 37 GNSS Chip Market for Location-Based System in Automotive Vertical to Grow at the Highest Rate Between 2016 and 2022
Figure 38 GNSS Chip Market for In-Vehicle Systems in Telematics to Grow at the Highest Rate During the Forecast Period
Figure 39 GNSS Chip Market, By Vertical
Figure 40 GNSS Chip Market for the Automotive Vertical Expected to Grow at the Highest Rate During the Forecast Period
Figure 41 GNSS Chip Market for Personal Navigation Systems in the Construction Vertical to Grow at the Highest Rate During the Forecast Period
Figure 42 GNSS Chip Market for In-Vehicle Systems in Military & Defense Vertical to Grow at the Highest Rate During the Forecast Period
Figure 43 GNSS Chip Market, By Geography
Figure 44 Geographic Snapshot of the GNSS Chip Market (2016)
Figure 45 Snapshot of the GNSS Chip Market in North America
Figure 46 U.S. to Be the Largest Market for GNSS Chips in North America By 2022
Figure 47 GNSS Chip Market in Mexico to Grow at the Highest Rate During the Forecast Period
Figure 48 Location-Based Services Likely to Dominate the GNSS Chip Market in Europe During the Forecast Period
Figure 49 GNSS Chip Market in Germany to Grow at the Highest Rate Between 2016 and 2022
Figure 50 Snapshot of the GNSS Chip Market in APAC
Figure 51 Market for In-Vehicle Systems in APAC Expected to Grow at the Highest Rate During the Forecast Period
Figure 52 China to Lead the GNSS Market in APAC Between 2016 and 2022
Figure 53 GNSS Chip Market: South America to To Be the Fastest Market in RoW Between 2016-2022
Figure 54 Companies Adopted New Product Launches and Developments as Key Growth Strategies Between 2014 and 2016
Figure 55 Market Evolution Framework: New Product Launches & Developments—The Major Strategies Adopted By Key Market Players Between 2014 and 2016
Figure 56 Battle for Market Ranking: New Product Launches & Developments Emerged as the Key Growth Strategies Between 2014–2016
Figure 57 Geographic Revenue Mix of the Top 5 Players
Figure 58 Qualcomm Incorporated: Company Snapshot
Figure 59 Qualcomm Incorporated: SWOT Analysis
Figure 60 Stmicroelectronics N.V. : Company Snapshot
Figure 61 Stmicroelectronics N.V.: SWOT Analysis
Figure 62 Mediatek Inc.: Company Snapshot
Figure 63 Mediatek Inc.: SWOT Analysis
Figure 64 U-Blox Holdings AG : Company Snapshot
Figure 65 U-Blox Holdings AG : SWOT Analysis
Figure 66 Broadcom Corporation: Company Snapshot
Figure 67 Broadcom Corporation: SWOT Analysis
Figure 68 Intel Corporation : Company Snapshot
Figure 69 Furuno Electric Co., Ltd.: Company Snapshot
Figure 70 Skyworks Solutions, Inc.: Company Snapshot

The GNSS chip market is expected to be valued at USD 5.22 Billion by 2022, growing at a CAGR of 7.9% between 2016 and 2022. Some of the factors driving the growth of the GNSS chip market include the high penetration of electronic, wearable, and connecting devices; increasing demand for accurate and real-time data; rising demand for high-speed Internet and network coverage such as 4G/5G; and growing popularity of IoT. The GNSS chip market has been segmented on the basis of device, vertical, application, and geography.

The GNSS chip market for in-vehicle systems is expected to grow at a high rate between 2016 and 2022. GNSS chips are used to provide precise positioning, and the in-vehicle systems are mounted on excavators, dozers, graders, and scrapers used in the construction industry. In-vehicle systems are considered ideal for navigation applications as these systems are capable of providing real-time information pertaining to the current status of the vehicles and guiding the drivers accordingly. Moreover, these systems can integrate infotainment technologies, which enhance driving experiences as well as the attractiveness of a vehicle.

Location-based services (LBS) held the largest share of the GNSS chip market for applications in 2016. The market for LBS is expected to grow at a rate during the forecast period, owing to the increasing demand for navigation and in-vehicle systems worldwide. GPS/GNSS technologies are being increasingly used for surveying and mapping applications such as tracking of unfamiliar locations suitable for construction, agriculture, and mining as well as for other location-based services. GNSS chips are integrated in mobiles and other navigation systems to receive signals from various constellations or combination of constellations.

The GNSS market for the automotive vertical is expected to grow at a high rate between 2016 and 2022. Connected cars are equipped with devices that enable Internet access using GNSS chips; these devices allow the cars to communicate with other cars on the road. Therefore, the increasing demand for connected cars is fueling the growth of the GNSS market.

The market for the construction vertical would grow at a considerable rate between 2016 and 2022. GNSS receivers provide precise positioning of dirt or loading materials with the help of smartphones, thereby optimizing the operations in the construction sites. GNSS receivers are used to provide accurate positioning information on construction sites. Due to this, the demand for GNSS chips in the construction industry is increasing.

GNSS Chip Market

APAC is expected to be the fastest-growing market for GNSS chips. China holds the largest share of the GNSS chip market in APAC; the market in China is expected to grow at a high CAGR during the forecast period. China is a developing economy and is considered as a major consumer electronics manufacturing hub, and consumer electronics is an emerging application area for GNSS chips. In addition, the technological advancements in the smartphones and consumer electronics sectors as well as the growing popularity of wearable devices are driving the demand for GNSS chips in APAC. Moreover, APAC is home to some of the major consumer electronic and wearable device manufacturers such as Samsung Electronics Co., Ltd. (South Korea), Panasonic Corp. (Japan), Sony Corp. (Japan), and LG Electronics Inc. (South Korea), which are integrating GNSS chips in their miniaturized electronic devices.

One of the key restraining factors for the growth of the GNSS chip market is the requirement of high initial investments. The agriculture sector deploys GNSS systems in applications such as tractor guidance, monitoring automatic steering-wheel movements, and so on. However, the farmers have to bear the high price of devices and equipment used for precision farming as an initial investment. The GNSS technology-enabled devices used in navigation and mapping applications are expensive and are usually purchased along with actual farming equipment.

The key market players such as Qualcomm Incorporated (U.S.), STMicroelectronics N.V. (Switzerland), and Intel Corporation (U.S.) are focusing on new product launches and developments, acquisitions, and collaborations to enhance their product offerings and expand their businesses.

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