The beidou navigation satellite system chips global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
BeiDou Navigation Satellite System Chips Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The BeiDou navigation satellite system chips market size has grown exponentially in recent years. It will grow from $0.47 billion in 2023 to $0.61 billion in 2024 at a compound annual growth rate (CAGR) of 28.6%. The growth in the historic period can be attributed to robust demand from defense sector, growing demand for navigation systems, rising demand for precision agriculture, increasing use in maritime navigation, expanding geospatial industry.
The BeiDou navigation satellite system chips market size is expected to see exponential growth in the next few years. It will grow to $1.67 billion in 2028 at a compound annual growth rate (CAGR) of 28.7%. The growth in the forecast period can be attributed to rising adoption of the navigation system in smartphones, expansion of beidou system, growth in autonomous vehicles, growth in consumer electronics, rise in wearable technology. Major trends in the forecast period include 5G infrastructure, integration with smart infrastructure, integration of BDS chips, integration into UAVs and drones, integration of smartphones and wearables.
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Scope Of BeiDou Navigation Satellite System Chips Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
BeiDou Navigation Satellite System Chips Market Overview
Market Drivers –
The rising demand for autonomous vehicles is expected to propel the growth of the BeiDou navigation satellite system chips market going forward. Autonomous vehicles are vehicles equipped with advanced sensors, control systems, and artificial intelligence (AI) algorithms that enable them to navigate and operate without human intervention. The demand for autonomous vehicles is increasing due to safety concerns, convenience, efficiency, accessibility, and environmental benefits. BeiDou navigation satellite system chips enable autonomous vehicles to navigate precisely and efficiently by receiving signals from BeiDou satellites, providing crucial positioning and timing information. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, it is expected to have 3.5 million autonomous vehicles or self-driving cars on American roads by 2025 and 4.5 million autonomous vehicles by 2030. Therefore, the rising demand for autonomous vehicles is driving the growth of the BeiDou navigation satellite system chips market.
Market Trends –
Major companies operating in big data analytics in the semiconductor and electronics market are focused on developing innovative solutions, such as Amazon EC2 C7g, to gain competitive advantages in the market. Amazon EC2 C7g offers customers greater computing performance at a lower cost for a broad range of workloads. For instance, in November 2022, Amazon.com, Inc., a US-based company engaged in e-commerce, introduced the Amazon EC2 C7g, powered by New AWs-designed chips. Hpc7g instances, featuring the latest AWS Graviton3E chips, provide up to twice the floating-point performance of the current C6gn instances and up to 20% higher than the current Hpc6a instances. This results in optimal price performance for AWS high-performance computing (HPC) workloads.
The beidou navigation satellite system chips market covered in this report is segmented –
1) By Type: High Precision, Ordinary Precision
2) By Application: Special (Security) Applications, Civil Industrial, Mass Consumption
3) By End-User Industry: Automotive, Consumer Electronics
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Regional Insights –
Asia-Pacific was the largest region in the BeiDou navigation satellite system chips market in 2023. The regions covered in the beidou navigation satellite system chips market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the beidou navigation satellite system chips market are RTX Corporation, China Electronics Technology Group Corporation (CETC), Thales Group, Beijing Enterprises Holdings , Trimble Inc, Kongsberg Gruppen, Topcon Corporation, Furuno Electric Co Ltd, U-blox Holding AG, BDStar Navigation Co Ltd, Shanghai Huace Navigation Technology Ltd, NovAtel Inc, South China University of Technology (SCUT), GNSS Technologies Inc, Unicore Communications Inc, SST Technology Corporation Limited, Wintec Industries Inc, RunXin Information Technology Co Ltd, Huatek Technology Corporation, Navisys Technology Corp., Raco Wireless LLC, NavtechGPS, Nevco Technology Co Ltd, Techtotop Co Ltd, Hwa Create Corporation Limited, ComNav Technology Ltd, Nanjing Veritas Electronic Technology Co Ltd, Changsha Zhongke Electric Co. Ltd.
Table of Contents
1. Executive Summary
2. BeiDou Navigation Satellite System Chips Market Report Structure
3. BeiDou Navigation Satellite System Chips Market Trends And Strategies
4. BeiDou Navigation Satellite System Chips Market – Macro Economic Scenario
5. BeiDou Navigation Satellite System Chips Market Size And Growth
…..
27. BeiDou Navigation Satellite System Chips Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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