global navigation satellite system (GNSS) chip market insights
Overview and Scope
A global navigation satellite system (GNSS) chip is a component that receives signals from a constellation of satellites to determine the device’s location and timing data. It is used in various applications, such as navigation, surveying, agriculture, and IoT devices, to provide precise real-time positioning and timing services to users worldwide.
Sizing and Forecast
The global navigation satellite system (GNSS) chip market size has grown strongly in recent years. It will grow from $5.42 billion in 2023 to $5.83 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to rise of satellite navigation systems, increasing adoption in consumer devices, government initiatives and investments, increasing adoption in agriculture and surveying, and rise in autonomous vehicles.
To access more details regarding this report, visit the link:
The global navigation satellite system (GNSS) chip market covered in this report is segmented –
1) By Device Type: Smartphones, Tablets And Wearables, Personal Tracking Devices, Low-Power Asset Trackers, In-Vehicle Systems, Drones, Other Device Types
2) By Application: Navigation, Mapping, Location-Based Services, Surveying, Telematics, Timing And Synchronization, Other Applications
3) By Vertical: Consumer Electronics, Construction, Agriculture, Automotive, Military And Defense, Marine, Transport
Asia-Pacific was the largest region in the global navigation satellite system (GNSS) chip market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global navigation satellite system (GNSS) chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14110&type=smp
Major Driver Impacting Market Growth
The increasing demand for consumer electronics is expected to propel the growth of the global navigation satellite system (GNSS) chip market going forward. Consumer electronics refers to an industry that involves designing, developing, and producing electronic devices for personal use. GNSS chips in consumer electronics enable precise location services, enhancing navigation and location-based functionalities in devices such as smartphones and wearables to provide critical information for emergency response and search and rescue operations. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the overall electronic device production in Japan amounted to $6,722 million (¥771,457 million), with consumer electronics device production increasing from $230.9 million (¥25,268 million) in May 2022 to $280 million (¥32,099 million) in May 2023. Therefore, the increasing demand for consumer electronics is driving the global navigation satellite system (GNSS) chip market.
Key Industry Players
Major companies operating in the global navigation satellite system (GNSS) chip market are Sony Group Corporation, Intel Corporation, Qualcomm Technologies Inc., Broadcom Inc., Fujitsu Limited, Thales Group, Mediatek Inc., STMicroelectronics N.V., Hexagon, Skyworks Solutions Inc., Trimble Inc., Belden Inc, Quectel Wireless Solutions Co. Ltd, Topcon Corporation, Furuno Electric Co. Ltd, U-blox Holdings AG, Telit Communications PLC, NovAtel Inc., STONEX Srl, Rakon Limited, Hemisphere GNSS, SparkFun Electronics, Harxon Corporation, Septentrio N.V., LOCOSYS Technology Inc., Syntony GNSS, ComNav Technology Ltd., Hunan Bynav Technology, Tallysman Wireless Inc., OriginGPS Ltd.
The global navigation satellite system (gnss) chip market report table of contents includes:
……………..
Related Reports:
https://goodprnews.com/clinical-data-management-systems-cdms-market-analysis/
https://goodprnews.com/attention-deficit-hyperactivity-disorder-adhd-therapeutics-market-players/
https://goodprnews.com/bioprocess-automation-market-share/
https://goodprnews.com/clinical-data-management-systems-cdms-market-forecast/
https://topprnews.com/clinical-data-management-systems-cdms-market-drivers/
https://topprnews.com/attention-deficit-hyperactivity-disorder-adhd-therapeutics-market-size/
https://topprnews.com/bioprocess-automation-market-insights/
https://topprnews.com/commercial-satellite-constellation-market-trends/
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Light Detection and Ranging (LiDAR) Market Overview The Light Detection and Ranging (LiDAR) technology is…
Large Display Format Market Set for Significant Growth, Projected to Reach USD 25.68 Billion by…
The airline technology integration global market report 2024 from The Business Research Company provides comprehensive…
The creative software global market report 2024from The Business Research Company provides comprehensive market statistics,…
The Dry Shampoo Market was valued at USD 6.37 billion in 2023 and is projected to reach…
Aircraft Engine Market Overview The global Aircraft Engine Market was valued at USD 90.11 billion in 2023 and is…