Overview and Scope
BeiDou Navigation Satellite System (BDS) chips are semiconductor components designed to receive signals from the BeiDou satellite constellation (a global navigation system). These chips are integrated into various devices such as smartphones, tablets, and navigation systems to enable precise positioning, navigation, and timing (PNT) capabilities. They are used to determine the user’s location, velocity, and precise timing information, offering a reliable and accurate navigation solution.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The beidou navigation satellite system chips market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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