GNSS Chips Market To Record Ascending Growth By 2025

GNSS chips means a global navigation satellite system that is used for locating the geographical position of the user anywhere on the earth. The global GNSS chips market is anticipated to witness a robust growth rate during the forecast period from 2017 to 2025 owing to its increasing use of GNSS chips for mapping and surveying application like tracking unfamiliar locations that is suitable for mining, agriculture and construction.

The global GNSS chips market is expected to witness a progressive growth in the coming years due to the rising demand for 4G and 5G network coverage and high speed internet. In addition GNSS chips have the ability to direct the drivers correctly and offer them real time data related to the current status of the vehicle. This in-vehicle systems find extensive use in navigation application.

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However in spite of so many driving factor high initial investment is required in agricultural sector for deploying GNSS chips in applications like monitoring automatic steering wheel equipment, tractor guidance and many more. The farmers have to bear this high price for equipment and devices that is used for farming as an initial investment. This is predicted to inhibit its adoption rate to some extent in the coming eight years.

For the purpose of providing detailed research report, the global GNSS chips market is classified on the basis of device, GNSS receiver, application and end user. On the basis of device the GNSS chips market is segmented into smartphone, tablets, personal navigation devices, in-vehicle system and others. Among the different devices available in the market, the smartphone is expected to grow at a highest rate during the forecast period owing to its increasing demand in the developing countries and the need for real time information like exact location of the vehicles and other assets. In addition GNSS chips are used in smartphone for tracking the mobile geographic information system, online games and location based services. On the other hand, based on applications, the GNSS chips market has been classified into surveying, mapping, navigation, location based services and others. The location based services is expected to witness the highest growth during the forecast period owing to the increasing demand for navigation and use of this chips in the in-vehicle system worldwide. On the basis of GNSS receiver the market can be segmented into global positioning system (GPS), global navigation satellite system (GLONASS), satellite based augmentation system (SBAS) and others. The end user segment is further divided into consumer electronics, construction, automotive, marine, military and defense and others. Automotive is expected to hold the largest market share due to its huge application in connected cars and in-vehicle systems. For instance, connected cars are equipped with devices that enable the use the use of internet by the help of GNSS chips and also communicate with other cars on the road.

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Geographically, the global GNSS chips market has been further segmented into Europe, North America, Asia Pacific, Latin America and Middle East and Africa. North America held the largest share of the GNSS chips market among the different regions in 2016. The GNSS chips market of North America is majorly driven by the U.S owing to wide concentration of the key GNSS chips manufacturers in this country. On the other side, the Asia Pacific GNSS chips market is expected to witness the fastest growth rate during the forecast period. China holds the largest market share owing to the fact that it is considered as a major consumer electronics manufacturing hub. Moreover the technological advancements in the consumer electronics sector and the growing popularity of wearable devices is likely to trigger the growth in this region.

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Some of the key vendors operating in the global GNSS chips market includes Qualcomm Incorporated ( The United States), Intel Corporation ( The United States), Broadcom Corporation (The United States), Skyworks Solution, Inc. (The United States), STMicroelectronics N.V.(Switzerland) and many more.

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