Global Navigation Satellite System (GNSS) Chips Market Report 2021: Market to Reach $6.3 Billion by 2027

Dublin, Aug. 26, 2021 (GLOBE NEWSWIRE) -- The "GNSS Chips - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global GNSS Chips Market to Reach $6.3 Billion by 2027

Amid the COVID-19 crisis, the global market for GNSS Chips estimated at US$4.1 Billion in the year 2020, is projected to reach a revised size of US$6.3 Billion by 2027, growing at a CAGR of 6.5% over the analysis period 2020-2027.

Smartphones, one of the segments analyzed in the report, is projected to record a 6.6% CAGR and reach US$5.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the In-Vehicle Systems segment is readjusted to a revised 7.1% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.2 Billion, While China is Forecast to Grow at 6.1% CAGR

The GNSS Chips market in the U.S. is estimated at US$1.2 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2027 trailing a CAGR of 6.1% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.3% CAGR.

Tablets Segment to Record 6.2% CAGR

In the global Tablets segment, USA, Canada, Japan, China and Europe will drive the 6.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$218.7 Million in the year 2020 will reach a projected size of US$334.1 Million by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$730.5 Million by the year 2027.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

• Influencer Market Insights

• World Market Trajectories

• What is GNSS and its Applications?

• GNSS Market Set to Exhibit Burgeoning Growth

• Market Outlook

• Impact of Covid-19 and a Looming Global Recession

• Strong Demand for Real-time Data Propels the GNSS Market

• Advent of 5G Cellular Technology and the Increase in Satellite Navigation Networks Provide Significant Growth Opportunities

• Strong Demand for Consumer Electronic Products - A Key Demand Driver

• Dual-frequency GNSS Chips for Smartphones - A Major Breakthrough for the Smartphone Industry

• FCC Waiver Enabling US Smartphone Users to Access Galileo Signals Present Increased Market Opportunity

• MM GNSS Chipsets Offering Power Saving to IOT Applications Bode Well for GNSS Chip Market Expansion

• Speed and Simplicity Advantages Propel the Use of GNSS in Construction

• Not Just Positioning and Navigation, GNSS Offers Much More to Motor Vehicles

• In-vehicle Systems - The Largest Segment for GNSS use in Automotive Applications

• World's First Multi-Band GNSS Receiver Launched for Autonomous Vehicles

• Location-based Services: The Largest Application Market for GNSS

III. MARKET ANALYSIS

IV. COMPETITION

• Total Companies Profiled: 43

• Broadcom Ltd.

• Eagle UAV Services

• Furuno Electric Co., Ltd.

• Hemisphere GNSS, Inc.

• Intel Corporation

• MediaTek, Inc.

• Misfit, Inc.

• Navika Electronics

• Qualcomm, Inc.

• Quectel Wireless Solutions Co., Ltd.

• Skyworks Solutions, Inc.

• STMicroelectronics NV

• u-blox Holding AG

For more information about this report visit https://www.researchandmarkets.com/r/l6y8p5

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