Navigation Satellite System Chip Market to be Influenced by Rising Sales of GPS Equipped Vehicles, and Demand for Meteorological Monitoring by 2028
Rising importance of predictive lead
scoring to drive the market of the Global Navigation Satellite System Chip Market
in the forecast period of 2024-2028.
According to TechSci Research report,
“Navigation Satellite System Chip Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018–2028,” the Global Navigation
Satellite System Chip Market is anticipated to register a robust growth during
the forecast period, 2024-2028. Nowadays, GPS and navigational
technologies are included in practically all cellphones. The users can utilize
this technology to learn both their present position and the location of their
goal. Many government agencies have made it mandatory for cellphones to use
satellite location services. For instance, the European Commission has enforced
a law requiring that new cellphones have satellite and Wi-Fi location services
built in before they are put on the market. According to the regulation, global
navigation satellite system chipsets must have access to the satellite network,
which provides exact location and timing data.
Smartphones have traditionally had navigation
satellite system chips. Increasing use of navigation satellite system
chips in the consumer electronics industry is also expected to drive the growth
of the Global Navigation Satellite System Chip Market. Growing demand for
accurate navigation and timing services in the consumer electronics industry is
expected to boost the growth of the Global Navigation Satellite System Chip Market.
In addition, the growth of the GNSS chip market is expected to accelerate due
to the increasing demand for accurate navigation and timing services from the
military and defense industries.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on "Navigation Satellite System Chip Market.”
The Global Navigation
Satellite System Chip Market is segmented into Device Type, Application,
End-user, Region and Competitive Landscape. Based on Device Type, the market is
segmented into Smartphones, Tablets and Wearables, Personal Tracking Devices,
Low-power Asset Trackers, In-vehicle Systems, and Drones. Based on Application
the market is segmented into (Navigation, Mapping, Location-Based Services,
Surveying, Telematics, Timing and Synchronization, Others. Based on End-user
the market is segmented into Automotive, Aviation, and Consumer Electronics.
Based on region the market is segmented into North America, Europe, Asia
Pacific, South America, Middle East and Africa.
In 2022, the market was
dominated by smartphones followed by tablets. The majority of smartphones come
with built-in navigational tools, which are frequently used by drivers to know
both their present position and the location of their destination. During the
projected period, there is likely to be a considerable increase in the
integration of Navigation Satellite System Chip chips for navigation in
smartphones.
During the forecast period,
the market for in-vehicle systems is anticipated to have the greatest market
share. Excavators, dozers, graders, and scrapers used in the construction
sector are fitted with in-vehicle systems that utilize NSS chips to offer exact
location.
Key market players in the Global Navigation Satellite System Chip market:
- Datarobot Inc.
- Broadcom Limited
- Furuno Electric Co., Ltd.
- Navika Electronics
- Quectel Wireless Solutions Co., Ltd.
- Skyworks Solutions, Inc.
- U-Blox Holding AG
- Qualcomm Incorporated
- MediaTek Inc.
- Intel Corporation
- STMicroelectronics NV.
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“The region with the
largest revenue contribution in the market is Asia-Pacific, and during the
projected period, it is expected to expand at a CAGR. Different opinions for navigation
satellite system chip exist in China and Europe. In Europe, there are eleven Navigation
Satellite System Chip-enabled technical groups that deal with anything from
vital infrastructure to consumer items. China's fourteenth five-year plan was
made public in 2022. A five-year plan contains details about China's goal for
2035. The 14th Five-Year Plan's emphasis on R&D and innovation has an
influence on China's Navigation Satellite System Chip market. intensify the
usage of BeiDou systems and encourage the growth of high-quality industries.
The plan will accelerate the development of fundamental technologies, encourage
BeiDou's industrial use, and foster Navigation Satellite System Chip industry,
assisting in the expansion of the Global Navigation Satellite System Chip market.”
said, Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Navigation
Satellite System Chip Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By Device Type (Smartphones,
Tablets and Wearables, Personal Tracking Devices, Low-power Asset Trackers,
In-vehicle Systems, and Drones), By Application (Navigation, Mapping,
Location-Based Services, Surveying, Telematics, Timing and Synchronization,
Others), By End-user Industry (Automotive, Aviation, and Consumer Electronics),
By Region, Competition,” has evaluated the future
growth potential of Global Navigation Satellite System Chip Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Navigation Satellite System Chip Market.
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