Europe GNSS Chip Market to Grow at a CAGR of 4.9% to reach US$ 2,069.32 million from 2019 to 2028

The Europe GNSS chip market is expected to reach US$ 2,069.32 million by 2028 from US$  1,481.02million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2019 to 2028.

Consumer electronic devices such as smartphones, smart wearables, digital cameras, and tablets use GNSS technology for mapping, geo-marketing, and navigation applications. Almost 50% of the European population is using tech-advanced wearable devices such as fitness bands and smart watches. GNSS chips are majorly being integrated into these devices to offer precise locations of the user while running, walking, or driving. This feature has led to an increase in the adoption of various location-based services (LBS) and applications depending on the 4G network solution. With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe GNSS chip market. The Europe GNSS chip market is expected to grow at a good CAGR during the forecast period.

Europe GNSS Chip Market Revenue and Forecast to 2028 (US$ million)

Europe GNSS Chip Market Segmentation        

The Europe GNSS chip market is segmented based on device, application, vertical, and country. Based on device The Europe GNSS chip market is segmented  smartphones, tablets, personal navigation devices, in-vehicle systems, others. The smartphones segment is dominated Europe GNSS Chip Market in 2020.Based on Vertical the Europe GNSS chip market segmented into consumer electronics, automotive & transportation, military and defense, marine and others. The consumer electronics segment Europe GNSS chip market dominated vertical in 2020.Based on application the Europe GNSS chip market segmented into navigation & location-based services, mapping, surveying, telematics, timing and synchronization, and others. The navigation & location-based services segment the Europe GNSS Chip Market Dominated in 2020. Based on country, the Europe GNSS chip market is segmented into Germany, the UK, Italy, France, Russia, and the Rest of Europe. Germany dominated the Europe GNSS chip market in 2020.

Intel Corporation, MediaTek Inc., Qualcomm Technologies Inc., FURUNO ELECTRIC CO., LTD. Broadcom Solution, Skywork Solution STMicroelectronics, Hexagon AB, Trimble Inc. and HEMISPHERE GNSS are among the leading companies in the Europe GNSS chip markets.

Europe GNSS Chip Report Scope