GNSS chip market to grow at a CAGR of 5.31% from 2022 to 2027, Government initiatives and support to drive growth - Technavio

NEW YORK, May 4, 2023 /PRNewswire/ -- The GNSS chip market size is set to grow by USD 1,708.25 million from 2022 to 2027, progressing at a CAGR of 5.31% during the forecast period, according to Technavio Research. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. For more insights on CAGR and YOY growth rate, download a sample report 

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. In a bid to help players strengthen their market foothold, this GNSS chip market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies. 

Frequently asked questions:

• Based on segmentation by device, which is the leading segment in the market?
  The smartphones segment is the leading segment in the market.
• What are the major trends in the market?
  The growing incorporation of GNSS chips with IoT technology is a major trend in the market.
• At what rate is the market projected to grow?
  The market is expected to grow at a CAGR of 5.31%
• Who are the top players in the market?
  Accord Software and Systems Pvt. Ltd., Analog Devices Inc., BDStar Navigation, Broadcom Inc., Furuno Electric Co. Ltd., Futurlec, Hexagon AB, Hunan Bynav Technology Co. Ltd., Intel Corp., MediaTek Inc., Oxford Technical Solutions Ltd., Qualcomm Inc., Quectel Wireless Solutions Co. Ltd., Racelogic, SkyTraq Technology Inc., Skyworks Solutions Inc., SparkFun Electronics, Trimble Inc., u blox, and STMicroelectronics NV are the top players in the market.
• What are the key market drivers and challenges?
  Government initiatives and support are driving the market growth. However, factors such as the high initial investment in the agriculture sector may impede market growth.
• How big is the APAC market?
  APAC is estimated to account for 39% of the growth of the global market during the forecast period.

GNSS chip market 2023-2027: Segmentation

• Device 
• Smartphones
• Tablets and wearables
• In-vehicle systems
• Personal tracking devices
• Others
• Type 
• Consumer electronics
• Automotive and transportation
• Military and defense
• Others
• Geography 
• APAC
• North America
• Europe
• Middle East and Africa
• South America

The smartphones segment will account for a significant share of market growth during the forecast period. GNSS chips are crucial parts of smartphones, as they help with location-based services and navigation systems. The use of signals from various GNSS constellations enables smartphones to indicate exact locations. Smartphones use location-based services for various applications such as food delivery and ride-hailing. The rising demand for location-based services and smartphone-based navigation is driving the growth of the GNSS chip market. The market will expand further with the rise in the adoption of autonomous vehicles and the demand for advanced location-based services. Therefore, the smartphone segment will grow at a steady rate during the forecast period.

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GNSS chip market 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The GNSS chip market report covers the following areas:

• GNSS chip market size
• GNSS chip market trends
• GNSS chip market industry analysis

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GNSS chip market 2023-2027: Vendor analysis

The global GNSS chip market has several international and regional vendors. The entry of new vendors is expected to be limited during the forecast period due to the presence of stringent safety and regulatory norms and the need for substantial investments. However, small vendors can enter into collaborations to compete with prominent vendors. M&A play a significant role in the development of the product portfolios of vendors. The key offerings of some of the major vendors are listed below:

• Broadcom Inc. - The company offers GNSS chip solutions such as GNSS and GPS SoCs.
• Furuno Electric Co. Ltd. - The company offers GNSS chip solutions such as GPS and GNSS Receiver Chips and Modules.
• Hexagon AB - The company offers GNSS chips and related solutions such as GNSS reference servers and GNSS smart antennas.
• Intel Corp. - The company offers GNSS chip solutions such as Intel Wireless GNSS.

GNSS chip market 2023-2027: Driver

Government initiatives and support are driving market growth. For instance, according to a rule by the European Commission, satellite and Wi-fi location services need to be included in newly released smartphones. GNSS capabilities should connect to the EU's Galileo satellite system for precise positioning and timing data. Therefore, major GNSS chipset suppliers are creating Galileo-ready chipsets, and the top smartphone manufacturers are incorporating them in recent models. These factors are expected to fuel market growth during the forecast period.

GNSS chip market 2023-2027: Challenge

The high initial investment in the agriculture sector is challenging market growth. The agricultural sector uses GNSS systems to increase agricultural production. There is a high demand for GNSS systems for applications in precision agriculture. To install a precision farming system, guidance devices must be integrated with farming equipment. Monitoring and sensing equipment should also be installed. In addition, the entire system must be integrated with the farm management database and software. However, farmers have to bear the high cost of machinery and tools. Therefore, poor farmers are hesitant to adopt precision farming techniques. These factors are expected to slow down market growth during the forecast period.

GNSS chip market 2023-2027: Key highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist GNSS chip market growth during the next five years
• Estimation of the GNSS chip market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the GNSS chip market across APAC, North America, Europe, Middle East and Africa, and South America
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of GNSS chip market vendors

What's new?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/active/niche/trivial - Buy the report!

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Table of Contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Device
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global GNSS chip market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global GNSS chip market 2017 - 2021 ($ million)

• 4.2 By Device Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – By Device Segment 2017 - 2021 ($ million)

• 4.3 By Type Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – By Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Device

• 6.1 Market segments 
• Exhibit 30: Chart on Device - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Device - Market share 2022-2027 (%)

• 6.2 Comparison by Device 
• Exhibit 32: Chart on Comparison by Device
• Exhibit 33: Data Table on Comparison by Device

• 6.3 Smartphones - Market size and forecast 2022-2027
• Exhibit 34: Chart on Smartphones - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Smartphones - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Smartphones - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Smartphones - Year-over-year growth 2022-2027 (%)

• 6.4 Tablets and wearables - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Tablets and wearables - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Tablets and wearables - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Tablets and wearables - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Tablets and wearables - Year-over-year growth 2022-2027 (%)

• 6.5 In-vehicle systems - Market size and forecast 2022-2027 
• Exhibit 42: Chart on In-vehicle systems - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on In-vehicle systems - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on In-vehicle systems - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on In-vehicle systems - Year-over-year growth 2022-2027 (%)

• 6.6 Personal tracking devices - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Personal tracking devices - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Personal tracking devices - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Personal tracking devices - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Personal tracking devices - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Device 
• Exhibit 54: Market opportunity by Device ($ million)
• Exhibit 55: Data Table on Market opportunity by Device ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 56: Chart on Type - Market share 2022-2027 (%)
• Exhibit 57: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 58: Chart on Comparison by Type
• Exhibit 59: Data Table on Comparison by Type

• 7.3 Consumer electronics - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Consumer electronics - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Consumer electronics - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Consumer electronics - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Consumer electronics - Year-over-year growth 2022-2027 (%)

• 7.4 Automotive and transportation - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Automotive and transportation - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Automotive and transportation - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Automotive and transportation - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Automotive and transportation - Year-over-year growth 2022-2027 (%)

• 7.5 Military and defense - Market size and forecast 2022-2027 
• Exhibit 68: Chart on Military and defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Data Table on Military and defense - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Chart on Military and defense - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on Military and defense - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027
• Exhibit 72: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 75: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 76: Market opportunity by Type ($ million)
• Exhibit 77: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 79: Chart on Market share by geography 2022-2027 (%)
• Exhibit 80: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 81: Chart on Geographic comparison
• Exhibit 82: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 83: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 87: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 91: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 99: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 103: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 107: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Russia - Market size and forecast 2022-2027
• Exhibit 111: Chart on Russia - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on Russia - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on Russia - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Russia - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027
• Exhibit 115: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 116: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 117: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 118: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 South Korea - Market size and forecast 2022-2027
• Exhibit 119: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 120: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 121: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 122: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 123: Market opportunity by geography ($ million)
• Exhibit 124: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 125: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 126: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 127: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 128: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 129: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 130: Matrix on vendor position and classification

• 12.3 Analog Devices Inc. 
• Exhibit 131: Analog Devices Inc. - Overview
• Exhibit 132: Analog Devices Inc. - Business segments
• Exhibit 133: Analog Devices Inc. - Key news
• Exhibit 134: Analog Devices Inc. - Key offerings
• Exhibit 135: Analog Devices Inc. - Segment focus

• 12.4 Broadcom Inc. 
• Exhibit 136: Broadcom Inc. - Overview
• Exhibit 137: Broadcom Inc. - Business segments
• Exhibit 138: Broadcom Inc. - Key news
• Exhibit 139: Broadcom Inc. - Key offerings
• Exhibit 140: Broadcom Inc. - Segment focus

• 12.5 Furuno Electric Co. Ltd. 
• Exhibit 141: Furuno Electric Co. Ltd. - Overview
• Exhibit 142: Furuno Electric Co. Ltd. - Business segments
• Exhibit 143: Furuno Electric Co. Ltd. - Key news
• Exhibit 144: Furuno Electric Co. Ltd. - Key offerings
• Exhibit 145: Furuno Electric Co. Ltd. - Segment focus

• 12.6 Futurlec 
• Exhibit 146: Futurlec - Overview
• Exhibit 147: Futurlec - Product / Service
• Exhibit 148: Futurlec - Key offerings

• 12.7 Hexagon AB 
• Exhibit 149: Hexagon AB - Overview
• Exhibit 150: Hexagon AB - Business segments
• Exhibit 151: Hexagon AB - Key news
• Exhibit 152: Hexagon AB - Key offerings
• Exhibit 153: Hexagon AB - Segment focus

• 12.8 Intel Corp. 
• Exhibit 154: Intel Corp. - Overview
• Exhibit 155: Intel Corp. - Business segments
• Exhibit 156: Intel Corp. - Key news
• Exhibit 157: Intel Corp. - Key offerings
• Exhibit 158: Intel Corp. - Segment focus

• 12.9 MediaTek Inc. 
• Exhibit 159: MediaTek Inc. - Overview
• Exhibit 160: MediaTek Inc. - Product / Service
• Exhibit 161: MediaTek Inc. - Key news
• Exhibit 162: MediaTek Inc. - Key offerings

• 12.10 Oxford Technical Solutions Ltd. 
• Exhibit 163: Oxford Technical Solutions Ltd. - Overview
• Exhibit 164: Oxford Technical Solutions Ltd. - Product / Service
• Exhibit 165: Oxford Technical Solutions Ltd. - Key offerings

• 12.11 Qualcomm Inc. 
• Exhibit 166: Qualcomm Inc. - Overview
• Exhibit 167: Qualcomm Inc. - Business segments
• Exhibit 168: Qualcomm Inc. - Key news
• Exhibit 169: Qualcomm Inc. - Key offerings
• Exhibit 170: Qualcomm Inc. - Segment focus

• 12.12 Quectel Wireless Solutions Co. Ltd.
• Exhibit 171: Quectel Wireless Solutions Co. Ltd. - Overview
• Exhibit 172: Quectel Wireless Solutions Co. Ltd. - Product / Service
• Exhibit 173: Quectel Wireless Solutions Co. Ltd. - Key offerings

• 12.13 Skyworks Solutions Inc. 
• Exhibit 174: Skyworks Solutions Inc. - Overview
• Exhibit 175: Skyworks Solutions Inc. - Product / Service
• Exhibit 176: Skyworks Solutions Inc. - Key offerings

• 12.14 SparkFun Electronics 
• Exhibit 177: SparkFun Electronics - Overview
• Exhibit 178: SparkFun Electronics - Product / Service
• Exhibit 179: SparkFun Electronics - Key offerings

• 12.15 STMicroelectronics NV 
• Exhibit 180: STMicroelectronics NV - Overview
• Exhibit 181: STMicroelectronics NV - Business segments
• Exhibit 182: STMicroelectronics NV - Key news
• Exhibit 183: STMicroelectronics NV - Key offerings
• Exhibit 184: STMicroelectronics NV - Segment focus

• 12.16 Trimble Inc. 
• Exhibit 185: Trimble Inc. - Overview
• Exhibit 186: Trimble Inc. - Business segments
• Exhibit 187: Trimble Inc. - Key offerings
• Exhibit 188: Trimble Inc. - Segment focus

• 12.17 u blox 
• Exhibit 189: u blox - Overview
• Exhibit 190: u blox - Business segments
• Exhibit 191: u blox - Key offerings
• Exhibit 192: u blox - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist
• Exhibit 193: Inclusions checklist
• Exhibit 194: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 195: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 196: Research methodology
• Exhibit 197: Validation techniques employed for market sizing
• Exhibit 198: Information sources

• 13.5 List of abbreviations 
• Exhibit 199: List of abbreviations

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