Some of the big
names operating in the global navigational satellite system (GNSS)
chip market are Qualcomm Incorporated, ST Microelectronics N.V.,
Mediatek Inc., U-Blox Holdings AG, Intel Corporation, Furuno Electric
Co., Ltd., Broadcom Corporation, Quectel Wireless Solutions Co.,
Ltd., Skyworks Solutions Inc., and Navika Electronics. Currently the
market is fragmented with no player having a solid stronghold.
As per a report by
TMR, the global GNSS chip market is slated to expand at a CAGR of
7.7% during the period between 2017 and 2025 to reach a value of
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.
Browse The Report:
http://www.transparencymarketresearch.com/gnss-chip-market.html
Presence of Key
Manufacturers Drives North America Market to the Fore
The global GNSS chip
market can be segmented depending upon the type of devices into
in-vehicle networking systems, smart phones, and personal
navigational devices, among others such as smart wearable devices,
including smart watches, smart glasses, smart rings, etc. In terms of
growth rate, the in-vehicle networking systems is expected to
outshine all other segments with a CAGR of 10.5%, vis-à-vis value,
in the years to come, because of the rising connectivity in vehicles
for bettering both driving experience and safety.
Based on geography,
the key segments of the global GNSS chip market are North America,
Latin America, Europe, Asia Pacific, and the Middle East and Africa.
Of them, North America, at present, holds a dominant share both in
terms of value and volume and in the upcoming years too is predicted
to maintain its leading position. This is because most of the
prominent manufacturers of GNSS chips are based out of North America.
The market in the region is slated to be worth US$10.22 bn by 2025.
Rising Thrust on
Security Stokes Growth in Market
The global
navigational satellite systems are devices that find application in
location-based services. They aid in maintaining security both in
normal and strained situations by providing information about
location of objects and people. This has served to up demand for GNSS
devices which in turn is stoking demand for GNSS chips. GNSS chips
that are used for storing memories, transmitting and receiving
signals, are an integral component of GNSS devices.
Railway Sector
Majorly Fuelling Demand
The railway industry
is said to be majorly fuelling demand for GNSS chips as GNSS devices
are leveraged in railways passenger information system, driver
advisory system, low density line command and control system, main
line command and control system. “Application of these systems
enables efficient management of fleet, show real time location of
trains through maps, optimize traffic maintenance and provide
enhanced driving experience. For instance, the railway infrastructure
in India has experienced a surge in investments and have set up a
Satellite Imaging for Rail Navigation, which is a GPS system
providing real time passenger information with enhanced safety
systems. Emergence of smart cities is also likely to drive the growth
of the GNSS chip market. Smart cities with intelligent urban
management system allows full connectivity and enables easy
application of location based services, and GNSS supports the whole
concept of these smart cities,” explains the lead analyst of the
TMR report.
This review is based
on the findings of a TMR report, titled, “GNSS Chip Market (Device
- Smart Phones, In-Vehicle Networking Systems, and Personal
Navigational Devices; End-Use Industry - Consumer Electronics,
Agriculture, Automotive, Defense, and Marine Industry) - Global
Industry Analysis, Trend, Size, Share and Forecast, 2017 - 2025.
About Us
Transparency Market
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and beverages, and consumer goods, among others. Each TMR research
report provides clients with a 360-degree view of the market with
statistical forecasts, competitive landscape, detailed segmentation,
key trends, and strategic recommendations
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