GNSS Chip Market Size Worth $8.32Bn, Globally, by 2028 at 5.6% CAGR - Exclusive Report by The Insight Partners

The GNSS Chip Market Size is projected to reach $8.32 Bn by 2028 from $5.66 Bn in 2021; it is expected to grow at a CAGR of 5.6% from 2021 to 2028.

New York, Feb. 17, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “GNSS Chip Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Device (Smartphones, Tablets, Personal Navigation Devices, In-Vehicle systems, and Others); Application (Navigation & Location-Based Services, Mapping, Surveying, Telematics, Timing and Synchronization, and Others); Vertical (Consumer Electronics, Automotive & Transportation, Military and Defense, Marine, and Others)”. The GNSS Chip Market Growth is driven by the rising demand for 5G network and high-speed internet and growing use of GNSS chip in consumer electronic devices, IoT technology in autonomous vehicles. In 2021, APAC led the market with a substantial revenue share, followed by North America and Europe.

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Report Coverage Details
Market Size Value in US$ 5,669.00 Million in 2021
Market Size Value by US$ 8,324.27 Million by 2028
Growth rate CAGR of 5.6% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 197
No. Tables 77
No. of Charts & Figures 86
Historical data available Yes
Segments covered Device, Application, Vertical
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

GNSS Chip Market: Competitive Landscape and Key Developments
Qualcomm, MediaTek, STMicroelectronics, Broadcom Inc., and Intel are among the key players profiled during the study of the global GNSS chip market. In addition, several other essential market players were studied and analyzed to get a holistic view of the market and its ecosystem.

In January 2021, Qualcomm and Alps Alpine announced to provide a new camera-based sensing & positioning device, ViewPose, to support absolute lane-level positioning of vehicles in virtually all environments. For offering this new device, Alps Alpine is leveraging solutions from Qualcomm Technologies, including Qualcomm Snapdragon Automotive 5G platform, which supports Multi-Frequency GNSS and third-generation Qualcomm Snapdragon Automotive Cockpit Platform.

In December 2020, MediaTek launched its new 5G chipset. Its Dimensity 700 5G smartphone chipset is a system-on-chip designed to commercialize and accelerate the implementation of advanced 5G technologies.

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The global navigation satellite system (GNSS) is a constellation of satellites that broadcasts signal from space, and transmits positioning and time data to GNSS receivers. The receivers then combine the data with other sensors to identify other aspects such as location, speed, and altitude. The precision and accuracy of such chips are mostly determined by the visible range of satellites. As a result, several governments are attempting to deploy regional constellations to improve navigation and mapping services. Only five countries—China, Russia, the US, India, and Japan—and the European Union have GNSS systems on the market.

GNSS system users expect near-instantaneous position exchange. The standard location makes this exchange difficult as at least four satellites must be recognized and their whole data must be obtained. Data transmission and reception might take minutes, hours, or fail under poor signal circumstances or extreme settings. However, by combining GNSS receiver data with information from mobile network cells, the performance can be improved to benefit various IoT applications. Low-power GNSS chips are projected to be in high demand as the number of consumer products with navigation and positioning functionalities increases. Currently, technologically advanced wearable devices are in high demand. About half of the world's population wears tech-advanced wearable gadgets, such as fitness bands and smartwatches. GNSS chips are widely used in these devices to provide exact location information to users while running, walking, or driving.

Impact of COVID-19 Pandemic on Europe GNSS Chip Market:
The impact of COVID-19 differed from country to country across Europe as selected countries experienced an increase in the number of recorded cases, and subsequently attracted strict and more extended lockdown periods or social isolation. Germany, Italy, the UK, Russia, France, and Turkey are the countries that were most affected by these restrictions. The European automotive industry was severely hit as it experienced a decline of over 20% in overall automotive production due. The underperformance of the supply side is attributed to lockdowns imposed by country governments. The automotive industry is one of the largest markets for GNSS chips. However, with the increasing demand for electric vehicles in the region, the outlook post COVID for the automotive industry seems to be favorable. With decreased income levels, buyers opted to purchase only essential goods such as household goods and groceries, spending less on nonessential, big-ticket purchases such ad electronic gadgets and automotive. Other sectors that deploy GNSS chips, including electric/electronics, manufacturing and construction, and telecommunications and networking, also experienced a weak demand. COVID-19 has compelled manufacturers to streamline their production processes to tackle unexpected disruption and resolve uncertain challenges presented by social distancing. Considering increasing vaccination drives, demand is expected to recover by the end of 2022 with companies investing in making their operations more productive and efficient.

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GNSS Chip Market: Device Overview
Based on device, the GNNS chip market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. In 2021, the smartphones segment led the market and accounted for a larger market share.

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