The GNSS Chip Market research report 2021 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The GNSS Chip market report provides information regarding market size, share, trends, growth, cost structure, GNSS Chip market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2026.
The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the GNSS Chip market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the GNSS Chip industry and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.
The GNSS downstream (both devices and services) market was valued at USD 162.9 billion in 2020, and it is expected to reach USD 353.17 billion by 2026, registering a CAGR of 14.6% during the period of 2021-2026.
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendors/key players in the market. Top Companies in the Global GNSS Chip Market: Qualcomm Technologies, Inc., Mediatek Inc., STMicroelectronics N.V., Broadcom Corporation, Intel Corporation, U-blox Holdings AG, Navika Electronics, Quectel Wireless Solutions Co. Ltd, Skyworks Solutions Inc., Furuno Electric Co. Ltd, Hemisphere GNSS, Trimble Inc., Garmin Ltd., and others.
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Key Market Trends
Smartphones to Drive the Market Growth
– Despite considerable saturation of mature markets, such as EU28, North American, and China, for smartphones, the shipments of smartphones still outnumber devices using GNSS chips. Smartphones have been using GNSS chips for a considerable time. In most cases, these chips support all publicly available satellite networks, such as GPS, GLONASS, Galileo, etc. However, when compared to dedicated navigation devices, these solutions were less accurate.
– For instance, the Lenovo Z6, launched in 2019, featured Allystar HD8040 series chipset, which is a multi-GNSS chip, that comes with is dual-frequency GNSS capable of tracking the latest BDS phase III signal.
North America Holds Significant Market Share
– North America is one of the largest markets for GNSS chips in the world. It is the second-largest market for smartphones and tablets, the second-largest market for in-vehicle navigation systems, and the largest manufacturer of aircraft, and one of the largest manufacturers of aerospace and maritime navigation products.
– Hence, the country has an immense demand from almost all the end-users in the region. In the case of the United States, the John S. McCain National Defense Authorization Act (NDAA) for Fiscal Year 2019 approved the spending of USD 716 billion, of which USD 1.46 billion is dedicated to the country’s GPS program.
Some of the recent developments in the market are:
– September 2019 – Trimble and Qualcomm Technologies entered a strategic partnership, primarily to build a high-accuracy positioning system for connected vehicles. Both the 4G and 5G platforms of Qualcomm Technologies will host Trimbless RTX precise positioning software, which can provide real-time and multi-constellation GNSS corrections. The combined solution will provide reliable, consistent, and high-accuracy positioning in a broadcast format.
– January 2019 – Allstar Technology Co. Ltd. launched a multi-band, multi-GNSS system on a chip, the HD8040 series, to help portable devices save size and weight. The HD8040 offered in wafer-level chip-scale packaging (WLCSP).
What are the market factors that are explained in the report?
– Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
– Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
– Analytical Tools: The GNSS Chip Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. Analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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