GNSS Chips Modules Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034
Page: 215 | Report Code: SE240610 | Research Suite: Report (PDF) & Market Data (Excel)
GNSS (Global Navigation Satellite System) chips and modules
our sophisticated components that are used to receive and process the received
signals from the satellite navigation systems like GPS, GLONASS, Galileo or
others. These chips and modules enables the devices
to determine their precise location, velocity, and time synchronization by
triangulating Signals from multiple satellites. They are critical in a wide
range of applications, including smartphones, automotive navigation systems,
drones, wearable devices and other various IoT devices. It helps in accurate
positioning information that is important for navigation, mapping, tracking and
timing, which plays an important role in both consumer electronics and
professional grade systems across diverse of industrial sectors.
MARKET
OVERVIEW
The market valuation of GNSS chips modules market was valued at approximately USD 7.9 billion in 2023 and is projected to reach USD 13.7 billion in 2034 exhibiting a CAGR of 6.5% during the forecast period of 2024-2034. GNSS chips & modules are essential for accurate and reliable positioning and navigation across a wide range of applications. The market is aligned with diverse sectors, which makes it a sustainable and growing market.
GROWTH
DRIVERS
The increase in demand for location-based services in the modern smartphones and connected devices which relies on GNSS technology for accurate positioning, which is one of the significant drivers of the market. According to Counterpoint, the global smartphone market grew by 6% year on year and reached around 296 million-unit shipments in Q1 2024. The smartphone industry has been steadily developing and growing since 2008, both in market size and in number of models and vendors. The global smartphone market revenue in 2023 was approximately USD 412 billion.
The wearables devices like fitness trackers, smartwatches and others, utilizes GNSS chips to provide accurate tracking of physical activity and location which is another significant driver of the market. The wearable industry has been growing at a fast pace in the last few years as around 150 million wearables were shipped worldwide in third quarter of 2023, which represents an increase in numbers as compared to the previous years. Approximately 492 million wearable units – smartwatches, fitness monitors, smart wearables, head-mounted displays and many other devices were sold in 2022 alone.
In 2024, global shipments of wearables, watches, wristbands, and other wearables were forecast to reach around 560 million units. This is a 10.5 percent year-over-year decrease compared to the previous year, according to Statista. The expansion of IoT devices and applications that requires precise geolocation data like assay tracking, fleet management, and smart agriculture, drives the market towards growth. According to IoT Analytics report, the total number of global IoT connections grew by 18% in 2022 to 14.3 billion active IoT endpoints. In 2023, IoT Analytics projects the global number of connected IoT devices to grow another 16%, to 16.7 billion active endpoints by 2027, there will likely be more than 29 billion IoT connections.
The growing demand for drones and UAV is
like the commercial drones with applications in agriculture, surveillance and delivery services, where these chips and modules
provides accuracy for navigation and position, boosts the market growth.
According to PwC report, the total market value of drone-powered solutions at
over USD 127 billion. The development and deployment of autonomous vehicles relies
heavily on GNSS chips for accurate navigation and safety, which contributes
towards the market growth. According to McKinsey, the autonomous driving, could
create USD 300 billion to USD 400 billion in revenue, by 2035.
MARKET
SEGMENTATION:
·
By Type – High Precision
GNSS Chips & Modules and Standard Precision GNSS Chips & Modules
·
By Size- Less Than 10mm X
10mm and Larger Than 10mm X 10mm
·
By Application -
Smartphones, Tablets, Personal Navigation Devices, In-Vehicle Systems, Wearable
Devices, Digital Cameras and Others
·
By Region- North America,
Europe, Asia Pacific, The Middle East and Africa, South America
GNSS
Chips Modules Market Segment By Type Review:
The high precision GNSS chips & modules provides positioning accuracy down to the centimeter or even millimeter level. These high-end solutions often integrate advanced technologies like real time kinematic (RTK), precise point positioning (PPP) and dual frequency capabilities. It is used in precision farming for automated machinery, variable rate applications and field mapping to enhance the productivity and reduce input cost. It is also essential for land surveying, construction and mapping projects that require precise measurements.
The standard precision GNSS chips
and modules provides meter level accuracy which is sufficient for many
general-purpose applications. These systems are widely used in consumer
electronics, basic navigation systems and location-based services. It is
integrated in smartphones, tablets and wearables for navigation, fitness
tracking, location-based services. It also used in vehicle navigation systems,
fleet management and logistics to track and route the vehicles efficiently.
GNSS
Chips Modules Market Segment By Size Review:
The less than 10mm X 10mm segment chips and modules are designed for applications where space constraints are critical. These compact solutions are typically used in small portable and variable devices where minimizing of size and weight is important. It is widely used into fitness tracker, smartwatches and other variable technology for tracking location activity and navigation. it is also utilized in IoT applications like asset tracking, personal navigation or smartphone devices where small form factor is a key requirement.
The larger than 10mm X 10mm are
used in applications where enhanced performance and additional features are
required. These modules often offers enhanced
performance additional processing power and integration capabilities than the
less than 10mm X 10 mm segment. It is integrated into vehicle navigation
systems, telematics units and ADAS for precise positioning and navigation. It
is employed in heavy machinery agricultural equipment and other industrial
applications were robust and reliable positioning is needed.
GNSS
Chips Modules Market Segment By Application Review:
Smart the largest user of GNSS chips and modules, as they leverage this technology for navigation, location-based services and emergency response and smartphones. This technology is used for turn-by-turn navigation apps like ride hailing and food delivery and emergency services just like E911 in the US and eCall in Europe. The tablets uses this module for similar application but also cater to niche markets like field service, navigation, mapping and education uses. The personal navigation devices are standalone devices that are used for more automotive and auto navigation and professional use by delivery and logistics companies.
The GNSSS
technology in the in-vehicle systems are crucial for navigation, telematics and
autonomous driving applications in built-in navigation systems fleet management
and positioning in autonomous driving systems. The wearables like smartwatches
and fitness trackers utilizes this technology for tracking physical activity,
health monitoring and navigation which provides precise location data for
fitness tracking and outdoor activities. The high-end digital camera uses GNSSS
for geotagging photos which enables the users to capture exact locations,
valuable for wildlife and environmental monitoring and tourism.
GNSS
Chips Modules Market Regional Analysis:
North America is a valuable market driven by the factors like the presence of technological hub like Silicon Valley in United Sates coupled with the presence of key global companies like Qualcomm and Broadcom. Europe is another valuable market driven by the smart city initiatives like EU Cities Mission and SmartEnCity. The Europe’s Galileo GNSS program is one of the significant drivers of the market in this region.
Asia Pacific is a rapidly growing market driven by the factors like rapid industrialization and urbanization. The region is a major hub for manufacturing the consumer electronics including smartphones and wearables devices that are major users of GNSS chips. The Middle East and Africa is a growing market due to factors like the presence of a robust oil and gas industry that relies on GNS technology for exploration, drilling and transportation for accurate positioning and navigation, as it is critical in these operations coupled with infrastructure projects like smart city initiatives. South America is a promising market driven by the presence of mining industry and agriculture sector that uses GNSS technology for precise farming techniques, mapping and logistics.
Key
Challenges:
The multipath effects occurs when the GNSS signals reflects
off surfaces like buildings or mountains, which causes signal delays and
inaccuracies. This may significantly kindly affect the accuracy of GNSS based
systems in urban environments, complicating the use of this technology for
precise applications like surveying and autonomous vehicles. The GNSS chips and
modules used in mobiles devices and IoT applications often requires significant
power to operate effectively which may limit the battery life of the devices.
Competitive
Landscape:
In the highly competitive GNSS Chips Modules Market,
companies are investing heavily in research and development to innovate and
improve the product and services. They are also collaborating, forming strategi
partnerships, or acquiring other companies to gain access to new market
segments, enhance distribution networks, and increase market share. Recent
developments includes – Qualcomm Technologies Inc.
and Alps Alpine Co. Ltd announced a camera-based sensing and positioning device
called ViewPose, in January 2021. SkyTraq Technology developed GPSGNSS chipsets
and modules for vehicle navigation and tracking, in December 2021.
QuetellaunchedLC29H dual band multi collection and LC76G single band compacted
GNSS modules, in June 2022. Trimble and Qualcomm collaborated for GNSS
technology Trimble RTX, in March 2022.
Global
Key Players:
·
Qualcomm
·
Furuno Electric
·
LOCOSYS Technology Inc.
·
Broadcom
·
Mediatek
·
U-blox
·
STM (STMicroelectronics)
·
Intel Corporation
·
Quectel Wireless Solutions
·
Navika Electronics
· Other Players
Attributes |
Details |
Base Year |
2023 |
Trend Period |
2024 – 2034 |
Forecast Period |
2024 – 2034 |
Pages |
215 |
By Type |
High Precision GNSS
Chips & Modules and Standard Precision GNSS Chips & Modules |
By Size |
Less Than 10mm X 10mm
and Larger Than 10mm X 10mm |
By Application |
Smartphones, Tablets,
Personal Navigation Devices, In-Vehicle Systems, Wearable Devices, Digital
Cameras and Others |
By region |
North America, Europe,
Asia Pacific, the Middle East and Africa, and South America |
Company Profiles |
Qualcomm, Furuno
Electric, LOCOSYS Technology Inc., Broadcom, Mediatek, U-blox, STM
(STMicroelectronics), Intel Corporation, Quectel Wireless Solutions, Navika
Electronics , Other Players |
Edition |
1st edition |
Publication |
June 2024 |