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:
II. EXECUTIVE SUMMARY
Influencer Market Insights
World Market Trajectories
What is GNSS and its Applications?
GNSS Market Set to Exhibit Burgeoning Growth
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
Total Companies Profiled: 43
Eagle UAV Services
Furuno Electric Co., Ltd.
Hemisphere GNSS, Inc.
Quectel Wireless Solutions Co., Ltd.
Skyworks Solutions, Inc.
u-blox Holding AG
For more information about this report visit https://www.researchandmarkets.com/r/l6y8p5
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