Dublin, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The "GNSS Chips - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global GNSS Chips Market to Reach $8 Billion by 2030
The global market for GNSS Chips estimated at US$5.5 Billion in the year 2022, is projected to reach a revised size of US$8 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2022-2030.
Smartphones, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$6.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Tablets segment is readjusted to a revised 4.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 4.6% CAGR
The GNSS Chips market in the U.S. is estimated at US$1.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2030 trailing a CAGR of 4.6% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Looking Ahead to 2023
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Metrics
| Report Attribute | Details |
| No. of Pages | 224 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $5.5 Billion |
| Forecasted Market Value (USD) by 2030 | $8 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- What is GNSS and its Applications?
- GNSS Market Set to Exhibit Burgeoning Growth
- Market Outlook
- GNSS Chips - Global Key Competitors Percentage Market Share in 2022 (E)
- Impact of Covid-19 and a Looming Global Recession
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
FOCUS ON SELECT PLAYERS (Total 43 Featured)
- Broadcom Ltd.
- Eagle UAV Services
- Furuno Electric Co., Ltd.
- Hemisphere GNSS, Inc.
- Intel Corporation
- MediaTek, Inc.
- Misfit, Inc.
- Navika Electronics
- Qualcomm, Inc.
- Quectel Wireless Solutions Co., Ltd.
- Skyworks Solutions, Inc.
- STMicroelectronics NV
- u-blox Holding AG
MARKET TRENDS & DRIVERS
- Strong Demand for Real-time Data Propels the GNSS Market
- Advent of 5G Cellular Technology and the Increase in Satellite Navigation Networks Provide Significant Growth Opportunities
- Strong Demand for Consumer Electronic Products - A Key Demand Driver
- Dual-frequency GNSS Chips for Smartphones - A Major Breakthrough for the Smartphone Industry
- FCC Waiver Enabling US Smartphone Users to Access Galileo Signals Present Increased Market Opportunity
- MM GNSS Chipsets Offering Power Saving to IOT Applications Bode Well for GNSS Chip Market Expansion
- Speed and Simplicity Advantages Propel the Use of GNSS in Construction
- Not Just Positioning and Navigation, GNSS Offers Much More to Motor Vehicles
- In-vehicle Systems - The Largest Segment for GNSS use in Automotive Applications
- World's First Multi-Band GNSS Receiver Launched for Autonomous Vehicles
- Location-based Services: The Largest Application Market for GNSS
For more information about this report visit https://www.researchandmarkets.com/r/hlb8ta-chips?w=12
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