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Global Navigation Satellite System (GNSS) Chip Market Trends and Forecast

Market Size and Forecast:

• The global GNSS chip market size was valued at USD 193.53 million in 2023.

• The market is projected to reach USD 732.56 million by 2032, growing at a CAGR of 15.94% during the forecast period (2024-2032).

Industry Key Trends:

• Increasing Demand for Location-Based Services: The growing demand for location-based services (LBS) in various industries such as automotive, consumer electronics, and aviation is driving the growth of the GNSS chip market.

• Advancements in Technology: The development of advanced GNSS chip technologies such as multi-constellation support, high-sensitivity, and low-power consumption is expected to drive the growth of the market.

• Growing Adoption of Autonomous Vehicles: The increasing adoption of autonomous vehicles is expected to drive the growth of the GNSS chip market, as these vehicles rely heavily on GNSS technology for navigation and positioning.

• Rising Demand for Wearable Devices: The growing demand for wearable devices such as smartwatches and fitness trackers is expected to drive the growth of the GNSS chip market.

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Global Navigation Satellite System (GNSS) Chip Market Size and Share:

• The global GNSS chip market is highly competitive, with several players operating in the market.

• The market is dominated by players such as Qualcomm Technologies Inc., Mediatek Inc., and STMicroelectronics NV.

Global Navigation Satellite System (GNSS) Chip Market Statistics:

• The global GNSS chip market is expected to grow at a CAGR of 15.94% during the forecast period (2024-2032).

• The market is expected to reach USD 732.56 million by 2032.

Regional Trends:

• North America: The North American region is expected to dominate the global GNSS chip market during the forecast period. The region is home to several major players operating in the market, including Qualcomm Technologies Inc. and Broadcom Inc.

• APAC: The APAC region is expected to grow at the highest CAGR during the forecast period. The region is home to several emerging economies, including China and India, which are expected to drive the growth of the market.

• Europe: The European region is expected to grow at a significant CAGR during the forecast period. The region is home to several major players operating in the market, including STMicroelectronics NV and U-Blox Holdings AG.

• LAMEA: The LAMEA region is expected to grow at a moderate CAGR during the forecast period. The region is home to several emerging economies, including Brazil and South Africa, which are expected to drive the growth of the market.

• United States: The United States is expected to dominate the North American GNSS chip market during the forecast period.

• China: China is expected to drive the growth of the APAC GNSS chip market during the forecast period.

• Germany: Germany is expected to drive the growth of the European GNSS chip market during the forecast period.

• Brazil: Brazil is expected to drive the growth of the LAMEA GNSS chip market during the forecast period.

Global Navigation Satellite System (GNSS) Chip Market Segmentations:

• By Device Type:

• Smartphones

• Tablets and Wearables

• Personal Tracking Devices

• Low-Power Asset Trackers

• In-Vehicle Systems

• By End-User Industry:

• Automotive

• Consumer Electronics

Top Players in Global Navigation Satellite System (GNSS) Chip Market: