Global GNSS Chip Market: Overview
A global navigation satellite system (GNSS) allows the function of pinpointing the geographical position of a user’s receiver located anywhere on the earth. GNSSs make use of a group of orbiting satellites operating in synchronicity with a ground stations network. Currently, there has three systems in operation, viz. the global orbiting navigation satellite system (GLONASS) of the Russian Federation, global position system (GPS) of the U.S., and Galileo of Europe. The precision of GNSS could vary as per the particular technologies employed. For instance, the U.S. prevented enemy militants from using its positioning information via the intentional degradation of GPS signals.
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Global GNSS Chip Market: Key Trends
Expected to grow at a decent CAGR, the world GNSS chip market is envisaged to bolster its growth on the back of factors such as the surging popularity of IoT and soaring demand for 4G and 5G network coverages and high-speed Internet. Besides this, the elevating need for real-time and accurate data, connecting and wearable devices, and high penetration of electronics are anticipated to set a propelling demand in the market.
Vendors are also predicted to capitalize on a handsome demand for GNSS chips as in-vehicle systems have started taking precedence in the construction sector. With the ability to direct drivers appropriately and offer real-time data related to the current status of vehicles, in-vehicle systems find extensive usage in navigation applications. The use of GNSS chips pertains to the task of providing precise positioning.
However, high initial investment could discourage demand in the international GNSS chips market. For instance, navigation and mapping applications generally require the employment of expensive GNSS technology-enabled devices. Nonetheless, manufacturers can gain a strong impetus in their growth as the demand for GNSS receiver increases in the construction industry for the purpose of providing accurate positioning of loading materials and information on construction sites to enable optimized operations. The rising demand for connected cars that implement GNSS chips to enable communication with each other through the Internet access could also offer profitable opportunities in the market.
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Global GNSS Chip Market: Market Potential
Late in March 2017, Telit is proud to announce the introduction of its newborn GNSS modules featuring an integrated antenna in the SE868xx-Ax series. The antenna is capable of permitting simpler integration without the use of external components and flaunts features such as radio frequency (RF) sensitivity increase. As the SE868xx-Ax family offers various options, clients can design once and interchangeably mount the most fitting solution to the right environment. This allows for the selection of proper technologies during transition without the need to redesign the complete application.
Global GNSS Chip Market: Regional Outlook
Asia Pacific is prognosticated to be the pick of the regional markets for GNSS chips due to the towering popularity of wearable devices and technological developments in industries such as consumer electronics. With China becoming a major hub for consumer electronics demanding GNSS chips at a high rate, Asia Pacific is prophesied to gain a lasting traction. Moreover, it is worth mentioning that Asia Pacific is a home to some of the leading names in the wearable devices and consumer electronics sectors such as LG Electronics Inc., Sony Corp., Panasonic Corp., and Samsung Electronics Co. Ltd. Howbeit, there could be opportunities arising from other regions as well, such as North America and Europe.
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Global GNSS Chip Market: Competitive Landscape
Players operating in the international GNSS chip market could be taking to business expansion and product enhancement through collaborations, acquisitions, and new product developments and launches. Top companies such as Intel Corporation, STMicroelectronics N.V., and Qualcomm Incorporated are expected to outshine other enterprises in the market.