PUBLISHER: The Business Research Company | PRODUCT CODE: 1464105
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464105
A global navigation satellite system (GNSS) chip is a crucial component that receives signals from a constellation of satellites to determine a device's precise location and timing data. This technology finds application across various sectors, including navigation, surveying, agriculture, and IoT devices, offering users worldwide access to accurate real-time positioning and timing services.
The primary device types equipped with GNSS chips include smartphones, tablets, wearables, personal tracking devices, low-power asset trackers, in-vehicle systems, drones, and others. Smartphones, for example, integrate GNSS technology alongside communication and internet capabilities, enabling location-based services and navigation functionalities. Applications span navigation, mapping, location-based services, surveying, telematics, timing, synchronization, and more. End-use verticals for GNSS-equipped devices encompass consumer electronics, construction, agriculture, automotive, military and defense, marine, and transportation sectors.
The global navigation satellite system (GNSS) chip research report is one of a series of new reports from The Business Research Company that provides global navigation satellite system (GNSS) chip market statistics, including the global navigation satellite system (GNSS) chip industry's global market size, regional shares, competitors with an Global navigation satellite system (GNSS) chip market share, detailed global navigation satellite system (GNSS) chip market segments, market trends and opportunities, and any further data you may need to thrive in the global navigation satellite system (GNSS) chip industry. This global navigation satellite system (GNSS) chip market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The global navigation satellite system (GNSS) chip market size has grown strongly in recent years. It will grow from $5.42 billion in 2023 to $5.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed during the historical period can be attributed to several key factors, including the proliferation of satellite navigation systems, growing adoption of GNSS technology in consumer devices, government initiatives and investments supporting GNSS infrastructure development, increasing utilization in agriculture and surveying applications, and the rise of autonomous vehicles driving demand for precise positioning and timing data.
The global navigation satellite system (GNSS) chip market size is expected to see strong growth in the next few years. It will grow to $67.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The projected growth in the forecast period is driven by the rising demand for precise real-time data, widespread adoption of consumer electronic devices, expansion of the Internet of Things (IoT), advancements in satellite constellations, and the integration of multiple satellite systems. Key trends anticipated in the forecast period include the utilization of advanced signal processing and machine learning techniques, integration with 5G connectivity, focus on miniaturization and low-power design, support for multiple satellite constellations and frequencies, and incorporation with inertial navigation systems (INS).
The anticipated surge in demand for consumer electronics is poised to drive the growth of the global navigation satellite system (GNSS) chip market in the foreseeable future. Consumer electronics represent an industry dedicated to designing, developing, and manufacturing electronic devices for personal use. GNSS chips integrated into consumer electronics facilitate precise location services, enhancing navigation and location-based functionalities in devices such as smartphones and wearables. These chips play a crucial role in providing critical information for emergency response and search and rescue operations. For example, data from the Japan Electronics and Information Technology Industries Association revealed that overall electronic device production in Japan reached $6,722 million (¥771,457 million) in May 2023, with consumer electronics device production witnessing a notable increase from $230.9 million (¥25,268 million) in May 2022 to $280 million (¥32,099 million) in May 2023. Consequently, the escalating demand for consumer electronics is fueling the growth trajectory of the global navigation satellite system (GNSS) chip market.
Key players in the global navigation satellite system (GNSS) chip market are prioritizing the development of innovative products equipped with advanced technological solutions to fortify their market position. One such solution is wide-area real-time kinematics (WARTK) technology, which supports precise and real-time positioning over expansive geographical areas. For instance, LOCOSYS Technology Inc., a Taiwan-based manufacturer specializing in GPS/GNSS positioning and navigation-related products and modules, unveiled its 100km Wide-Area Real-Time Kinematics (WARTK) support technology in October 2023. This technology is engineered to achieve high-precision positioning over extended distances, making it invaluable in various applications such as geographic information systems (GIS), environmental monitoring, and natural resource management. Global navigation satellite systems, particularly Real-Time Kinematics (RTK), are seamlessly integrated into intelligent transportation systems for tasks such as vehicle navigation, fleet management, transportation system management, highway construction, and emerging applications such as connected and automated vehicles, smart cities, transportation infrastructure, and advanced vehicle control systems.
In October 2023, CNH Industrial N.V., a prominent agricultural machinery company headquartered in the UK, completed the acquisition of Hemisphere GNSS Inc. for an estimated $175 million. This strategic move bolsters CNH's expertise in precision, automation, and autonomy technologies, particularly within the agriculture and construction sectors. The acquisition extends CNH's vertical integration efforts, enabling the provision of cutting-edge core technology to clients' fleets, thereby optimizing performance and enhancing user experience. Hemisphere GNSS, Inc., based in the United States, specializes in manufacturing global positioning systems and global navigation satellite system products and technology, aligning seamlessly with CNH's vision for innovation and technological advancement in the agricultural and construction industries.
Major companies operating in the global navigation satellite system (GNSS) chip market report are Sony Group Corporation, Intel Corporation, Qualcomm Technologies Inc., Broadcom Inc., Fujitsu Limited, Thales Group, Mediatek Inc., STMicroelectronics N.V., Hexagon, Skyworks Solutions Inc., Trimble Inc., Belden Inc, Quectel Wireless Solutions Co. Ltd, Topcon Corporation, Furuno Electric Co. Ltd, U-blox Holdings AG, Telit Communications PLC, NovAtel Inc., STONEX Srl, Rakon Limited, Hemisphere GNSS, SparkFun Electronics, Harxon Corporation, Septentrio N.V., LOCOSYS Technology Inc., Syntony GNSS, ComNav Technology Ltd., Hunan Bynav Technology, Tallysman Wireless Inc., OriginGPS Ltd.
Asia-Pacific was the largest region in the global navigation satellite system (GNSS) chip market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global navigation satellite system (GNSS) chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the global navigation satellite system (GNSS) chip market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The global navigation satellite system (GNSS) chip market consists of revenues earned by entities by providing services such as precise real-time positioning, environmental monitoring, positioning, navigation and tracking, timing, and integrity monitoring. The market value includes the value of related goods sold by the service provider or included within the service offering. The global navigation satellite system (GNSS) chip market also includes sales of smartwatches, vehicle navigation systems, and various IoT (Internet of Things) devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Global Navigation Satellite System (GNSS) Chip Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on global navigation satellite system (GNSS) chip market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for global navigation satellite system (GNSS) chip ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global navigation satellite system (GNSS) chip market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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