In a recent published report, Kenneth Research has updated the market report for GNSS Chip Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for GNSS Chip Market products.
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Factors such as the growing trade of semiconductors for use in different consumer electronic products, along with the growing trend of automation and IoT, which is raising the need for the deployment of advanced electronic chipsets, therefore the advancement in the trade of semiconductors. According to the statistics by World Semiconductor Trade Statistics (WSTS), semiconductor billings around the globe per 12 months rolling average increased from around USD 250 billion in the year 2010 to around USD 460 billion in the year 2019.
Global GNSS Chip Market was valued at USD 3.73 Billion for the year 2017. GNSS Chip Market is further expected to grow at a CAGR of 7.25% from 2018 to reach USD 5.68 Billion by the year 2023. North America region holds the highest market share in 2017. While Asia Pacific region is considered as the fastest growing market in the forecasted period. The U.S. is the major market in 2017 at country level and it is further anticipated to grow at a steady pace in the next 5 years.
On the other hand, surveying segment is expected to grow at the highest CAGR during the forecasted period. The growth is expected due to developments in sectors like construction, marine, infrastructure monitoring, mine surveying and urban development plans like smart city concepts. Thus, GNSS chip market has a solid growth potential in developing and developed countries across the globe.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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The major market players in GNSS chip market are Broadcom Corporation, Skyworks Solutions Inc., Qualcomm Incorporated, Intel Corporation, U-Blox Holdings AG, Stmicroelectronics N.V., Telit Communications PLC, Furuno Electric Co. Ltd., Quectel Wireless Solutions Co. Ltd., Mediatek Inc. (Other 13 companies is provided in research report). Growing research and development expenditures to address changing demand of consumers, new product launches in recent years are some of the key market drivers. In the last 5 years, growth strategy like acquisition was adopted by most of the top manufacturers to reduce competition & expand the distribution network.
The Location-Based Services segment is expected to hold the highest market share during the forecast period. The Location Based Services include applications that are supported by devices like smartphones, tablets, personal tracking devices, and wearables. With the increasing number of smartphone users and developments in different sectors like transportation, Location-Based Segment is expected to hold the highest market share.
By Receiver
Global Positioning System (GPS)
Beidou Navigation Satellite System
Global Navigation Satellite System (GloNASS)
Galileo
By Implementation Type
Road Construction
Railways
Agriculture
Others
By Product
Smartphones
Tablets
In-Vehicle Systems
Wearable Devices
By Application
Navigation
Surveying
Mapping
Weather Forecasting
Telematics
Location Based Services
By Region
North America
• USA
• Canada
Europe
• Germany
• U.K.
• France
• Italy
• Rest of Europe
APAC
• China
• India
• Japan
• Rest of Asia-Pacific
RoW
• Latin America
• Middle East & Africa
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Table of Content
1. Introduction
1.1 Market Vision
1.1.1 Market Definition
1.1.2 Market Scope
1.2 Limitations
1.3 Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.1.1. Key Data from Secondary Research
2.1.2. Primary Research
2.1.2.1. Key Data from Primary Research
2.1.2.2. Breakdowns of Primary Interviews
2.2. Market Size Estimation
2.2.1. Bottoms-Up Approach
2.2.2. Top-Down Approach
2.2.3. Annual Revenue Process
2.3. Data Triangulation
2.4. Research Assumptions
2.4.1. Assumption
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
4.6. Regulations
4.7. Supply Chain/Value Chain Analysis
4.8. Patent & Standards
5. Industry Trends
5.1. Introduction
5.2. Porter’s Five Forces Analysis
5.2.1. Threat of New Entrants
5.2.2. Threat of Substitutes
5.2.3. Bargaining Power of Buyers
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