Global Navigation Satellite System (GNSS) is an electronic device that uses radio signals from orbiting satellites to determine the location on the ground, and provides advanced navigation and location-based services for a variety of consumer’s electronic devices such as smart phones, tablets & wearables and others. GNSS chip supports all the timings and positioning solutions in the devices. The GNSS chip has high accuracy with increased number of satellites compared to GPS, which provide only positioning, making it durable for market.
The companies involved in the manufacturing of GNSS Chip are focus on maximizing the sensitivity for indoor signals, which provide more accurate results. This development will help the GNSS Chip to penetrate more in the market. The GNSS Chip find their applications in diverse sectors such as automotive, aerospace & defense, maritime, rail, and agriculture.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The major factors that impacts the GNSS Chip market growth includes emerging demand for GNSS Chip in consumer electronics, increase in the use of GNSS Chip in the consumer electronics devices such as smartphones for tracking and navigation purpose.
In Agricultural sector, the GNSS Chip is used as tractor guidance and monitoring functions in various automobiles used in agriculture. GNSS Chip also provide installation of monitoring of devices, and complete precision farming system includes the integration of the guidance devices with farming equipment, and integration of the whole system with the farm management software and database. Hence, the need for the GNSS Chip in the agricultural sector will drive the demand for GNSS Chip in the market.
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Rise in adoption of IOT technology for automated solution in the vehicles and increase in demand for UAV’s is various application such as drones make use of GNSS Chip for navigation, Thus, the rise IOT technology and UAV’s surge the demand for GNSS Chip in the market. However, high prices of GNSS Chip devices due to advancement in technology and difficulty in receiving signals for indoor operations may restraint the growth of the GNSS Chip in the market.
The GNSS Chip Market trends are as follows:
Rising demand for IOT:
The Internet of Things (IoT) is the technology, which provide function not only for computers, but also various devices with built-in computing capabilities are interconnected. In order to provide real-time data in IOT running devices GNSS chips are integrated with devices include self-driving cars, drones, smart sensors, connected homes and integrated wearable. The Internet of Things technology provides many new opportunity and service options to make life and work easier for consumers. The Internet of Things plays an important role in various navigation, healthcare and automotive applications, includes from site information management to real-time location tracking. These devices are intended for navigation, automotive and medical applications. Therefore, the rise in popularity of GNSS products based on the Internet of Things is driving the growth of the GNSS chip market.
Wide-scale demand for unmanned aerial vehicles (UAVs) in several applications:
In countries such as Canada, Australia, the United States and other countries can obtain permits or licenses to operate for UAV for commercial purposes; these UAV are embedded with GNSS chips that can track and record data in real time. For an instance in 2012, the Federal Aviation Administration (FAA) authorized first responders, including law enforcement agencies, to fly UAV weighing less than 25 pounds to depths of less than 400 feet. This is a step is consider huge step toward commercializing the operation of UAV such as drones. Furthermore, the manufacturing company is developing UAV built into GNSS chips and tailored for specific applications. Since drones are unmanned vehicles, it is important to track their location, which is easily achieved through GNSS technology. Thus, rise in the use for UAV in various regions ultimately provide demand for GNSS chips in the market.
Market Scope and Structure Analysis:
|Market size available for years||2020–2030|
|Base year considered||2020|
|Forecast unit||Value (USD)|
|Segments covered||device type, applications, end-user and region|
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Key Benefits of the Report:
- This study presents the analytical depiction of the GNSS Chip Market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the GNSS Chip Market share.
- The current market is quantitatively analyzed from 2020 to 2030 to highlight the GNSS Chip Market growth scenario.
- Porter’s Five Forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed GNSS Chip Market analysis based on competitive intensity and how the competition will take shape in coming years.
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