GNSS chip market is forecasted to reach $5,538.5 million by 2023. Geographically, the GNSS chip market is expected to witness the fastest growth in Asia-Pacific. Rise in demand of electronic, wearable and connecting devices, growing need for precise and real-time data along with the growing popularity of IoT are some of the major factors to have a significant positive impact on the industry.
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Rapid urbanization, across the globe is leading towards more efficient and sustainable cities. On account of that, government of various countries worldwide are investing heavily in smart city projects. For instance, governments of several countries including Spain, UAE, Singapore, India and Austria are investing heavily in smart city research and projects. Government of India announced to transform 100 cities, into smart cities by 2030, and aims to invest around $15 billion on smart city project.
On the basis of device, the market is categorized into smartphones, tablets, PNDs, IVS and others, where others include phablets, digital camera and wearable devices. Smartphones accounted for 75% of the GNSS chip market, with $2.5 billion in 2016. It is further projected to reach $4.1 billion by 2023, witnessing 7.2% CAGR during the forecast period.
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On the basis of application, GNSS chip market is categorized into LBS, surveying, telematics, navigation, mapping, timing & synchronisation and others, where others include gaming and weather forecasting. Telematics applications are expected to lead the market in terms of growth during the forecast period. The major factors bolstering the demand of GNSS chips in telematics include surging demand for integrated wireless communication systems within the vehicle, introduction of autonomous vehicles and transformation of non-connected cars into connected cars.
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Some of the major players operating in the market include Qualcomm Incorporated, Broadcom Limited, Intel Corporation, Furuno Electric Co., Ltd., Skyworks Solutions, Inc., Quectel Wireless Solutions Co., Ltd., Navika Electronics, NXP Semiconductors, MediaTek Inc. and U-blox.
Get a free sample of this research report: https://www.psmarketresearch.com/market-analysis/gnss-chip-market/report-sample
Rapid urbanization, across the globe is leading towards more efficient and sustainable cities. On account of that, government of various countries worldwide are investing heavily in smart city projects. For instance, governments of several countries including Spain, UAE, Singapore, India and Austria are investing heavily in smart city research and projects. Government of India announced to transform 100 cities, into smart cities by 2030, and aims to invest around $15 billion on smart city project.
On the basis of device, the market is categorized into smartphones, tablets, PNDs, IVS and others, where others include phablets, digital camera and wearable devices. Smartphones accounted for 75% of the GNSS chip market, with $2.5 billion in 2016. It is further projected to reach $4.1 billion by 2023, witnessing 7.2% CAGR during the forecast period.
Explore report at: https://www.psmarketresearch.com/market-analysis/gnss-chip-market
On the basis of application, GNSS chip market is categorized into LBS, surveying, telematics, navigation, mapping, timing & synchronisation and others, where others include gaming and weather forecasting. Telematics applications are expected to lead the market in terms of growth during the forecast period. The major factors bolstering the demand of GNSS chips in telematics include surging demand for integrated wireless communication systems within the vehicle, introduction of autonomous vehicles and transformation of non-connected cars into connected cars.
Make enquiry before buying the report: https://www.psmarketresearch.com/send-enquiry?enquiry-url=gnss-chip-market
Some of the major players operating in the market include Qualcomm Incorporated, Broadcom Limited, Intel Corporation, Furuno Electric Co., Ltd., Skyworks Solutions, Inc., Quectel Wireless Solutions Co., Ltd., Navika Electronics, NXP Semiconductors, MediaTek Inc. and U-blox.
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