Nano GPS Chipset Market – Snapshot
According to a new market research report published by Transparency Market Research titled ‘Nano GPS Chipset Market (Sensitivity: −165 dBm & Above and Below −165 dBm; Application: Smartphones, Wearables, UAVs, Asset Tracking, Personal Digital Assistants, Automotive, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ the global Nano GPS chipset market is expected to reach value of US$ 1,221.3 Mn by 2026. The market is projected to expand at a CAGR of 12.02% from 2018 to 2026. According to the report, the global market is expected to continue to be influenced by rising popularity of GPS tracking devices and increasing demand for smartphones across the globe. North America is projected to lead the global market, with the market in the region expanding at a CAGR of above 11.40% between 2018 and 2026.
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−165 dBm & above to be the rapidly expanding segment during the forecast period
Based on sensitivity, the Nano GPS chipset market has been segmented into −165 dBm & above and below −165 dBm. The below −165 dBm segment held a major market share, in terms of revenue, in 2017. The −165 dBm & above segment is expected to expand at a rapid CAGR during the forecast period, owing to rising demand for high-accuracy GPS chipsets that are miniature in size.
Smartphones segment to held a leading market share in 2017
In terms of application, the Nano GPS chipset market has been divided into smartphones, wearables, unmanned aerial vehicles (UAVs), asset tracking, personal digital assistants, automotive, and others. The smartphones segment accounted for a major market share, in terms of revenue, in 2017, owing to high demand for miniature and low-power GPS chipsets from smartphone manufacturers.
North America to continue to hold a significant share of the global market
North America is expected to hold the maximum share of the global Nano GPS chipset market during the forecast period. This is primarily attributable to rising popularity and increasing demand for tracking devices in the region. These tracking devices require miniature and power-efficient GPS chipsets.
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Nano GPS chipsets are gaining popularity across the Asia Pacific region, especially in developing economies such as China and India. This can be attributed to significant rise in the number of smartphone users and increasing demand for wearable devices in the region.
Furthermore, the market in Middle East & Africa is witnessing steady growth, owing to increasing use of unmanned aerial vehicles (UAVs) in the region, which are being used for security and surveillance purposes.
Broadcom, OriginGPS Ltd., Qualcomm Technologies, Inc., Unicore Communications, Inc., and MediaTek, Inc. are key players operating in the global Nano GPS chipset market. Details such as financials, business strategies, recent developments, product implementation expertise, key contracts, offerings of Nano GPS chipsets, and other strategic information pertaining to these players have been duly provided as part of company profiling in the report.