GNSS Chip Market Trends, Growth, Analysis, Share by 2030

[Research Report] The GNSS chip market was valued at US$ 4.89 billion in 2022 and is expected to reach US$ 9.19 billion by 2030; it is estimated to record a CAGR of 8.2% from 2022 to 2030. The GNSS chip market trends include the use of GNSS chips in UAVs and UGVs.

Analyst Perspective:

The global GNSS chip market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). The market growth is primarily attributed to the rising volume of consumer electronics equipped with navigation and positioning features. In addition, growing demand for 4G and 5G network coverage and high-speed internet and increasing penetration and sales of wearable devices across various global economies boost the GNSS chip market growth.

GNSS Chip Market Overview:

The global navigation satellite system (GNSS) is an arrangement of satellites that broadcast signals from space that transmit positioning and timing data to GNSS receivers. The receivers then combine the data with other sensors to identify aspects such as location, speed, and altitude. The visible range of satellites mostly determines the precision and accuracy of GNSS chips. As a result, several governments are attempting to deploy regional constellations to improve navigation and mapping. Five countries, including China, Russia, the US, India, and Japan, and the European Union have GNSS systems on the market.

GNSS system users expect near-instantaneous position exchange. The standard location makes this difficult since at least four satellites must be recognized, and all their data must be obtained. Data transmission and reception might take minutes or hours or even fail under poor signal circumstances or extreme settings. However, by combining GNSS receiver data with information from mobile network cells, the performance can be increased to benefit a variety of IoT applications. Low-power GNSS chips are projected to be in high demand as the number of consumer products with navigation and positioning functionalities increases. Currently, technologically advanced wearable devices are in high demand. About half of the world's population wears tech-advanced wearable gadgets such as fitness bands and smartwatches.

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GNSS Chip Market Driver:

Rising Demand for 5G Network and High-Speed Internet Propels GNSS Chip Market Growth

Demand for location-based services (LBS) is increasing. High speed and lower latency of 5G enable advanced and real-time LBS applications such as enhanced navigation with turn-by-turn directions and live traffic updates; augmented reality experiences integrated with real-world locations; precise indoor positioning for shopping malls, airports, and other buildings; improved asset tracking; and fleet management solutions.

Positioning has played an essential role in enabling cellular communication to offer mobile network operators a broad range of approaches to determine each user’s location with varying degrees of accuracy. Global navigation satellite system (GNSS) has been the source for accurate positioning of user devices. Many mobile network operators have announced the deployment of 5G networks in urban areas. In February 2024, Vodafone Idea (Vi) announced its projects to roll out 5G services in India in a significant move within the Indian telecom sector. The services are said to be rolled out within the next 6–7 months in the country. In April 2023, The Telco also announced the launch of 5G services for prepaid users in Mexico. In a release, the Mexican carrier said that its more than 68 million prepaid users will now be able to access the company’s 5G network, which means that the benefits of the new technology will be available to more than 80 million Telcel customers. Thus, with the rising numbers of 5G base stations, the requirement for higher-level timing accuracy to secure stable connections over 5G networks is increasing. The Quectel L26-T module can deliver 6.8 nanosecond timing accuracy and meet stringent timing synchronization requirements with 5G networks. Thus, rising demand for 5G network and high-speed internet drives the growth of the GNSS chip market.

GNSS Chip Market Segment Analysis:

The GNSS chip market is segmented on the basis of device, application, and vertical. Based on device, the market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. By application, the GNNS chip market is segmented into navigation & location-based services, mapping, surveying, telematics, timing and synchronization, and others. The market, by vertical, is segmented into consumer electronics, automotive & transportation, military & defense, and others.

The smartphones segment held the largest GNSS chip market share in 2022, whereas the others segment is expected to record the highest CAGR during the forecast period. Location and navigation are integral parts of the smartphone experience. Whether booking a cab, ordering food, or offering other services, the location feature provides a personalized experience. Almost every smartphone manufacturer has integrated navigation applications into the devices. Drivers are widely using navigation features to know their current location and destination location as a smartphone identifies its position via satellite radio signals or GNSS. Currently, most smartphones in the market are configured for a single-frequency GNSS, which means that the smartphone can track a single radio signal from a satellite. Dual-frequency GNSS will boost navigation efficiency and provide high-accuracy information. The integration of GNSS chips in smartphones for navigation purposes is projected to grow significantly during the forecast period.

GNSS Chip Market Regional Analysis:

The scope of the GNSS chip market report covers North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In terms of revenue, Asia Pacific dominated the GNSS chip market share in 2022.

APAC consists of countries such as Australia, China, India, Japan, South Korea, and the Rest of APAC. The major consumer electronics manufacturers present in APAC are focusing on launching new and innovative chips/products that need real-time data for tracking and recording locations using various devices, including smartphones, wearable devices, and tablets. In July 2023, Mobileye introduced the world’s first vision-only intelligent speed assist (ISA) solution for automakers, following certification and testing across Europe. The camera-only solution, launching in production vehicles in 2024, assists global automakers in meeting new EU general safety regulation (GSR) standards, needing automatic sensing of speed limits in new vehicle models without the need to be dependent on third-party maps and GPS data. In December 2023, Airoha Technology launched the AG3335MA satellite positioning chip series, which passed the AEC-Q100 Grade 2 reliability qualification tests for automotive applications. The company also successfully integrated this series of chips with its parent company, MediaTek, and its Dimensity Auto platform, providing highly integrated solutions and technical testing services to automotive manufacturers worldwide. Therefore, the launch of new and innovative products helps in increasing the demand for GNSS chips in the consumer electronics sector in APAC.

APAC has the highest coverage of GNSS constellations across the globe. Its thriving economies feature a speedily growing consumer base. The potential of GNSS- and space-enabled applications, accompanied by an increasing share of local research and development and technology innovations, is also acting as a driving factor for the growth of the GNSS chip market in APAC.

The presence of several GNSS chip manufacturers, including Intel Corporation; MediaTek Inc.; Qualcomm Technologies; FURUNO ELECTRIC CO.; Broadcom, Inc.; STMicroelectronics; Hexagon AB; Septentrio N. V.; U-Blox Holding AG; QUECTEL WIRELESS SOLUTIONS CO.; and HEMISPHERE GNSS, in the region is expected to contribute to the growing GNSS chip market size in APAC. Also, with the growing number of startup companies, the adoption of GNSS chips is increasing. According to a Times of India news article from December 2021, in India, the total number of startups founded during the period 2021 stood at 3,476. Therefore, the rising number of SMEs across APAC would create a huge opportunity for GNSS chip market players in the coming years.

GNSS Chip Market Regional Insights

The regional trends and factors influencing the GNSS Chip Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses GNSS Chip Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

GNSS Chip Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The GNSS Chip Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the GNSS Chip Market are:

1. Qualcomm Inc.
2. Skytraq Technology Inc
3. Broadcom Inc
4. Septentrio NV
5. Trimble Inc

Disclaimer: The companies listed above are not ranked in any particular order.

Key Player Analysis:

The GNSS chip market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. The market analysis is carried out by identifying and evaluating key players in the market such as Qualcomm Inc, SkyTraq Technology Inc, Broadcom Inc, Septentrio NV, Trimble Inc, Furuno Electric Co Ltd, MediaTek Inc, STMicroelectronics NV, Skyworks Solutions Inc, and u-blox Holding AG. Several other key market players were analyzed to get a holistic view of the market and its ecosystem.

Recent Developments:

The GNSS chip market report emphasizes the key factors bolstering the market and prominent players' developments. Market players focus on inorganic and organic strategies for their business growth. As per company press releases, below are a few recent key developments:

• In December 2021, SkyTraq Technology developed GPS/GNSS chipsets and modules for meter-level accuracy vehicle navigation and tracking applications and for centimeter-level accuracy real-time kinematic (RTK) surveying and precision guidance applications.
• In September 2021, Broadcom Inc announced the world’s lowest power L1/L5 GNSS receiver chip, the BCM4778, optimized for mobile and wearable applications. Equipped with the latest GNSS innovations, this third-generation chip is 35% smaller and consumes five times less power than the previous generation.