Valuation Voyage: GNSS Chip Market's Journey to $9.7 Billion by 2032

The global navigation satellite system GNSS Chip Industry is experiencing robust growth, fueled by its high demand within the semiconductor and electronics industry. As of 2022, the market’s estimated worth stood at an impressive US$ 5.2 billion, with projections indicating a substantial increase to reach a valuation of US$ 9.7 billion by 2032. This phenomenal expansion is primarily attributed to the burgeoning opportunities presented by the GNSS chip industry.

GNSS chips are also more functional than GPS in terms of high precision and number of satellites. It can receive signals from multiple satellite navigation systems, whereas GPS chips only receive signals from the GPS system and merely offers positioning.

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For example, if a GPS chip is obstructed by a tall building or a mountain, it may find it difficult to receive signals from enough satellites to determine its position accurately. On the contrary, in case of a GNSS chip, it can receive signals from other satellite navigation systems and determine the user’s position more accurately.

To meet this objective, manufacturers are focusing on improving the accuracy of GNSS chips by increasing the sensitivity of indoor signals. This new development will facilitate accurate results for indoor positioning and navigation, making GNSS chips an attractive choice for customers.

One key application of GNSS chip technology in Industry 4.0 is in the area of asset tracking and management.

By using GNSS chips, automotive manufacturers can track the location of vehicles and components throughout the production process. This information can be used to optimize production schedules, reduce lead times, and improve inventory management.

GNSS chips can be used in automotive predictive maintenance to monitor vehicle performance in real-time. This helps manufacturers to identify potential issues before they become critical, which reduces downtime and improves product reliability.

Key Takeaways from GNSS Chip Market

The global GNSS chip market exhibited a moderate CAGR of around 7.5% during the historical period 2017 to 2021.
Asia Pacific GNSS chip market is projected to be worth US$ 4.9 billion in 2032.
The USA GNSS chip market is set to create an absolute $ growth of US$ 574.5 million till 2032.
Based on device, the smartphone segment is anticipated to steadily grow at a CAGR of 6.4% from 2022 to 2032.
Based on vertical, the automotive segment witnessed prominent growth at a CAGR of 7.0% from 2017 to 2021.

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“As manufacturers adopt GNSS technology for predictive maintenance and autonomous driving applications, the automotive vertical will prove to become a high revenue earning segment.” – Says a lead analyst.

Competitive Landscape: GNSS Chip Industry

The top market players in the industry are exploring innovative ways to deliver high-quality goods and expanding their product lines. This includes focusing on patenting innovations and broadening product portfolios to stay ahead of competition.

Key Players

Qualcomm Incorporated
STMicroelectronics NV
Mediatek Inc.
U-Blox Holding
Broadcom Limited
Intel Corporation

For instance,

In June 2022, the high-performance single-band ultra-low power GNSS positioning module LC76G was launched by a Chinese company—Quectel.

The LC76G is a GNSS chip that comes with an inbuilt SAW filter and an integrated LNA. It can be directly attached to a passive patch antenna, and it offers a filter against unwanted interference. As a result, the LC76G provides great performance, even while driving through crowded urban canyons.

Get More Exclusive Insights into GNSS Chip Market Study

Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the GNSS Chip Industry , presenting historical market data (2017 to 2021) and forecast statistics for the period from 2022 to 2032.

The study reveals extensive growth in the GNSS Chip Industry in terms of device (smartphones, tablets, personal navigation devices, and in-vehicle systems), application (navigation, mapping, surveying, location-based services, telematics, and timing and synchronization), vertical (consumer electronics, construction, agriculture, automotive, military, and defense, marine, and transport) and region.

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GNSS Chip Market Outlook by Category

By Device: