Gnss Chip Market Size to grow by USD 1820.9 million between 2024-2028

The Gnss Chip Market is segmented by Device (Smartphones, Tablets and wearables, In-vehicle systems, Personal tracking devices, and Others?), Type (Consumer electronics, Automotive and transportation, Military and defense, and Others?), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). As per the Global Forecast research report 2024-2028 published by Technavio, the market size is estimated to grow by USD 1820.9 million, at a CAGR of 5.39% during the forecast period. There are several companies that are contributing to the market as per this report. Growing incorporation of GNSS chips with IoT technology .

By Device, the Smartphones segment is projected to dominate the market size in 2024

The GNSS chip market is experiencing significant growth due to the increasing demand for location-based services and navigation systems in various industries. These chips enable precise positioning and timing information, making them essential for applications such as automotive, aviation, and logistics. Major players in this market include Qualcomm, u-blox, and Broadcom, who continue to innovate and invest in research and development to meet the evolving needs of their clients. The market is expected to reach substantial value by 2026, driven by the expanding use cases and advancements in technology.

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By Type, Consumer electronics segment is expected to hold the largest market size for the year 2024

The Global GNSS Chip Market is experiencing significant growth due to the increasing demand for real-time location-based services and navigation systems in various industries. Key players in this market are focusing on innovation and technological advancements to enhance product offerings and gain a competitive edge. The integration of GNSS chips in automotive, consumer electronics, and IoT devices is driving market expansion. Additionally, government initiatives and investments in satellite infrastructure are further fueling market growth.

Why is APAC forecasted to hold the largest regional market size in 2024?

The Global GNSS Chip Market is experiencing significant growth due to the increasing demand for real-time location-based services and navigation systems in various industries, including automotive, transportation, and logistics. This trend is driven by the adoption of advanced technologies such as GPS, GLONASS, Galileo, and BeiDou, which offer enhanced accuracy and reliability. Market players are investing heavily in research and development to bring innovative solutions to the market and gain a competitive edge. The market is expected to reach substantial growth in the forecast period, driven by these factors.

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Research Analysis Overview

The Global Navigation Satellite System (GNSS) chip market is experiencing significant growth, driven by the increasing demand for location-based services (LBS) in various industries. GNSS chips are integral components of tablets, smartphones, fitness bands, and wearable devices, enabling features such as asset tracking, geo-fencing, and location tracking. The market for low-power GNSS chips is particularly strong, as precision and accuracy are essential for UAVs, UGVs, and automotive segments. Published reports from Electronics and Semiconductor industries indicate that the market for GNSS chips is expected to reach new heights in the coming years. The multifaceted benefits of GNSS technology are being recognized in various industries, including logistics, transportation, agriculture, and construction. Resellers of electronics and semiconductor components are capitalizing on this trend, offering a wide range of GNSS receivers from leading manufacturers. The integration of 5G technology into base stations is also expected to boost the demand for GNSS chips, as the need for real-time location data increases. Satellites continue to play a crucial role in providing accurate and reliable location data, making GNSS chips an indispensable component of modern technology. The use of GNSS technology in tablets, smartphones, fitness bands, wearable devices, UAVs, UGVs, and automotive segments is transforming the way we live, work, and play.

Market Research Overview

The global semiconductor market encompasses semiconductor manufacturers, producing integrated circuits (ICs) such as memory, logic, analog, and micro components, optoelectronics, sensors, and discrete semiconductors. According to Technavio, the market size is determined by the revenue generated from the shipment of semiconductor ICs to original equipment manufacturers (OEMs) and original design manufacturers (ODMs). These ICs originate from both fab and fabless companies, including integrated device manufacturers (IDMs). Factors driving market growth include substantial investments in constructing new semiconductor fabrication plants (fabs) and expanding existing facilities. - The Gnss Chip Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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