Global Navigation Satellite System (GNSS) Chip Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3468
GNSS Chip Market size is set to show rapid growth in the coming years driven by its extensive use in various industries such as automotive, military, airlines, aviation, archaeology, and surveying. GNSS chips are majorly used by these industries for navigation and tracking purposes in various devices. GPS has become integral to smartphones, enabling users to navigate through paths, get accurate locations, directions, etc. Due to the increase in urbanization and extensive adoption of technology, there is a high demand for GPS-enabled applications, propelling the GNSS chip market. Furthermore, the demand for low-power portable devices, such as smartwatches and point of care devices integrated with new technologies, are increasing over the past few years. Evidently, with the wide use of these technologies, the market is expected to grow at a high pace in the coming year.
The increasing demand for unmanned aerial vehicles is one of the major emerging trends driving the GNSS chip market growth. An unmanned aerial vehicle is a system or aircraft remotely operated by an autonomous computer, which has found its way to several applications for monitoring, real-time assessment, and mapping of large-scale areas. Mapping of areas affected by natural disasters is one of the major applications of UAVs, creating a demand for GNSS chips. For instance, a landslide affected area was monitored using the UAV in India’s state Meghalaya to study the loss of properties and life. GNSS chips are crucial in UAVs for tracking and navigation purposes. Increase in UAV applications will propel the growth of these chips.
One of the factors acting as a hindrance in the growth of the GNSS chip market is the high-power consumption by these systems. Most systems do not survive for a longer duration, which requires frequent recharge and change of battery, resulting in much higher costs. Another challenge in the GNSS chip market is the lack of precision and robustness, which is not suitable for emerging advancements in the automotive sector such as autonomous driving. These systems provide poor coverage, where large structures such as tall buildings act as hurdles, in providing accurate information resulting in the rise of multipath interference of signals. In addition, these satellite signals are also vulnerable to cyber-attacks, where signals can be manipulated and spoofed. Therefore, measures are being taken to provide authentication to these signals. Many big players in the industry are emerging with technologies to tackle these barriers affecting the GNSS chip market.
With advancements in digitalization, these components are being integrated into several electronic products including smartphones, digital cameras, tablets, laptops, smart devices, etc. These systems are now being extensively used in wearable devices and the IoT (Internet of Things). The demand from the electronics sector is also expected to increase the demand in the GNSS chip market. For instance, fitness bands are integrated with these systems to give precise locations to the user even while walking, running, or driving. Users can track and navigate locations without any manual help. With this location tracking application, the user can determine the location and whereabouts of their closed ones. For instance, FollowMe is one such app designed for the iPhone to track the location of their friends and relatives, further minimizing the security issues. This technology has also been used by many of the research companies to survey the market by determining more flexibility than older surveying tools.
The automotive sector is one of the major industries contributing to the GNSS chip market growth. With the emergence of automobiles enabled with innovative functionalities, the integration of GPS has been a common factor. This system is immensely benefiting the autonomous driving technology, which will help to determine lane and directions and to navigate in different directions. The users can track live locations and get accurate locations with the help of these satellite systems. Therefore, this sector is accelerating the demand for GNSS chips.
The GNSS chip market is propelled by regions such as Europe, Russia, the U.S., and China, who have their own satellite systems. Europe’s satellite navigation system, Galileo, has the maximum number of satellites with high frequencies. Automotive industries in Europe have an increasing demand for new technology applications. More and more applications integrated with navigation systems are being introduced, driving a high demand in the GNSS chip market. This region will witness a rise in the demand for more such applications to cater to the industry demand, propelling the market growth. These systems are being widely used by various industries for navigation purposes and surveying. Whereas, China GNSS chip market is anticipated to grow over a few years with the increasing use of electronic devices such as smartphones, wearable devices, and tablets. The rapid adoption of technology and the rise in location detection applications are expected to project a positive demand in the market.
The GNSS chip market is highly competitive due to continuous innovations, where more companies are trying to integrate this technology with their products. Intense competition prevails between leading manufacturers, such as Spirent, Broadcom Inc., Honeywell, and Leica Geosystems, among others. Honeywell came up with high-quality units for the automotive sector, which will offer precise data even in an obstructed environment. In addition, Broadcom Inc., a leading company, launched a dual frequency system in September 2017. Broadcom launched GNSS chips specifically designed for IoT applications in 2015. Smartphone The company such as Xiomi launched dual-frequency GNSS integrated smartphones in September 2017, accelerating the GNSS chip market growth.
The GNSS chip market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2025, for the following segments:
- In-Vehicle Systems
- Location-based services
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
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