Global GNSS Chip Market Size By End-Use Industry & Country 2018–2023
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.
(EMAILWIRE.COM, June 25, 2018 ) 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.
Broadcom Corporation (U.S.), Qualcomm Incorporated (U.S.), and Skyworks Solutions Inc. (U.S.) are some of the top producers in the GNSS Chip Market with highest market share were held by Qualcomm Incorporated in 2017. Better global reach, both at production and at an operational level is the main reason for holding this highest market share. 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.
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Drivers:
Increasing number of smartphone/ tablet users
Innovative and advanced technology for town planning and advanced survey techniques
Restraints:
Changing government regulations & policies as per region
Opportunities:
Growth in the smart watch market (wearable devices) and in vehicle navigation devices
Introduction of autonomous vehicles
Challenges:
Estimating the demand to manage production capacity
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.
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.
Key Benefits for Stakeholders
GNSS Chip Manufacturers, Distributors and Retailers
Consumer electronics & automotive manufacturers
Government bodies
Technology Standards Organizations, Forums, Alliances and Associations
End use industries
Regulatory bodies, policy makers and consumers.
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By Receiver
Global Positioning System (GPS)
Global Navigation Satellite System (GloNASS)
Beidou Navigation Satellite System
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
Europe
Asia-Pacific
ROW
Key Market Players
Broadcom Corporation
Stmicroelectronics N.V.
Skyworks Solutions, Inc.
Qualcomm Incorporated
Intel Corporation
U-Blox Holdings AG
Telit Communications PLC
Furuno Electric Co., Ltd.
Quectel Wireless Solutions Co., Ltd.
Mediatek Inc.
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Broadcom Corporation (U.S.), Qualcomm Incorporated (U.S.), and Skyworks Solutions Inc. (U.S.) are some of the top producers in the GNSS Chip Market with highest market share were held by Qualcomm Incorporated in 2017. Better global reach, both at production and at an operational level is the main reason for holding this highest market share. 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.
Request for Discount at https://www.prominentmarketresearch.com/discount-report/34260
Drivers:
Increasing number of smartphone/ tablet users
Innovative and advanced technology for town planning and advanced survey techniques
Restraints:
Changing government regulations & policies as per region
Opportunities:
Growth in the smart watch market (wearable devices) and in vehicle navigation devices
Introduction of autonomous vehicles
Challenges:
Estimating the demand to manage production capacity
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.
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.
Key Benefits for Stakeholders
GNSS Chip Manufacturers, Distributors and Retailers
Consumer electronics & automotive manufacturers
Government bodies
Technology Standards Organizations, Forums, Alliances and Associations
End use industries
Regulatory bodies, policy makers and consumers.
Request for Sample Report at https://www.prominentmarketresearch.com/sample-report/34260
By Receiver
Global Positioning System (GPS)
Global Navigation Satellite System (GloNASS)
Beidou Navigation Satellite System
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
Europe
Asia-Pacific
ROW
Key Market Players
Broadcom Corporation
Stmicroelectronics N.V.
Skyworks Solutions, Inc.
Qualcomm Incorporated
Intel Corporation
U-Blox Holdings AG
Telit Communications PLC
Furuno Electric Co., Ltd.
Quectel Wireless Solutions Co., Ltd.
Mediatek Inc.
Purchase Report Now at https://www.prominentmarketresearch.com/checkout/34260
About Prominent Market Research:
At Prominent Market Research, we are committed to provide the best possible service and recommendations to all our customers. You will be able to speak to seasoned analyst who will understand your research needs accurately. We make it our business to look after yours, with an efficient and friendly team always available to help you.
Contact Information:
Prominent Market Research
Robin
Tel: +1-815-957-4373
Email us
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Prominent Market Research
Robin
Tel: +1-815-957-4373
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results