Press release
GNSS Chip Market Will Reach $5.5 Billion by 2023 and Is Growing at a CAGR of 7.8%, During 2018 - 2023
GNSS chip market is forecasted to reach $5.5 Billion 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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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.
The various users of GNSS chips are automotive, consumer electronics, transport, marine, agriculture, military & defense, and construction industry. Technological evolutions in connected vehicles and automated driving domains are expected to be the major growth driver of GNSS-enabled applications and services in the automotive vertical over the next few years. Information obtained by GNSS chips empowers a range of automotive services from precise navigation to location-based information services, including the localization of speed cameras or available parking slots, dynamic weather updates and traffic alerts.
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 key companies among the international vendors includes 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.
About P&S Intelligence
P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Request for a free sample copy of this research report @ https://www.psmarketresearch.com/market-analysis/gnss-chip-market/report-sample
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.
The various users of GNSS chips are automotive, consumer electronics, transport, marine, agriculture, military & defense, and construction industry. Technological evolutions in connected vehicles and automated driving domains are expected to be the major growth driver of GNSS-enabled applications and services in the automotive vertical over the next few years. Information obtained by GNSS chips empowers a range of automotive services from precise navigation to location-based information services, including the localization of speed cameras or available parking slots, dynamic weather updates and traffic alerts.
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.
Explore report description @ https://www.psmarketresearch.com/market-analysis/gnss-chip-market
Some of the key companies among the international vendors includes 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.
About P&S Intelligence
P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
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