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LONDON, GREATER LONDON, UNITED KINGDOM, June 23, 2025 /EINPresswire.com/ -- The Business Research Company’s Latest Report Explores Market Driver, Trends, Regional Insights - Market Sizing & Forecasts Through 2034
The global navigation satellite system GNSS chip market has witnessed robust growth in the past few years, rising steeply from $5.83 billion in 2024 to an expected $6.25 billion in 2025, at a compound annual growth rate CAGR of 7.3%. Various factors have contributed to this growth, including the rise of satellite navigation systems, increase in adoption in consumer devices, government initiatives endorsing investments, and the surging adoption in the sectors of agriculture and surveying. Additionally, the rise in autonomous vehicles has significantly impacted the market space.
What Is The Projected Future Growth Of The GNSS Chip Market Size?
Projections for future growth of the GNSS chip market are quite optimistic. The market size is forecasted to grow to $7.83 billion in 2029 at a CAGR of 5.8%. This continued growth can be traced back to the increasing demand for accurate real-time data, high permeation of consumer electronic devices, the expansion of the internet of things IoT, advancements in satellite constellations, and the integration of multiple satellite systems.
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What Are The Key Drivers Propelling The Growth Of The GNSS Chip Market?
Looking at key industry trends, there appears to be a significant focus on advanced signal processing and machine learning, 5G integration and connectivity, miniaturization and low-power design, multi-constellation and multi-frequency support, and integration with inertial navigation systems INS. Moreover, the swelling demand for consumer electronics is projected to drive the GNSS chip market forward. Consumer electronics is an industry dedicated to designing, developing, and producing electronic devices for personal use. GNSS chips in these devices enable precise location services, enhancing navigation and location-based functionalities in devices from smartphones to wearables. This allows for crucial information to be provided for intense scenarios such as emergency response and search and rescue operations.
What Key Player Strategies Are Driving The GNSS Chip Market?
Leading companies in the GNSS chip market include Sony Group Corporation, Intel Corporation, Qualcomm Technologies Inc., Broadcom Inc., Fujitsu Limited, Thales Group, Mediatek Inc., STMicroelectronics N.V., Hexagon, Skyworks Solutions Inc., Trimble Inc., Belden Inc, Quectel Wireless Solutions Co. Ltd, Topcon Corporation, Furuno Electric Co. Ltd, U-blox Holdings AG, Telit Communications PLC, NovAtel Inc., STONEX Srl, Rakon Limited, Hemisphere GNSS, SparkFun Electronics, Harxon Corporation, Septentrio N.V., LOCOSYS Technology Inc., Syntony GNSS, ComNav Technology Ltd., Hunan Bynav Technology, Tallysman Wireless Inc., OriginGPS Ltd.
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What Are The Emerging Trends In The GNSS Chip Market?
It is clear that the GNSS chip market industry's major players are focusing on developing innovative products, with advanced technological solutions such as wide-area real-time kinematics technology, to enhance their market standing. This technology supports precise and real-time positioning over a large geographic area.
How Is The GNSS Chip Market Segmented?
The GNSS chip market is broadly segmented by device type, application, and vertical, and further divided into subsegments. By device type, it includes smartphones, tablets and wearables, personal tracking devices, low-power asset trackers, in-vehicle systems, drones, and other device types. Applications span across navigation, mapping, location-based services, surveying, telematics, timing and synchronization, and other applications. Vertically, it finds use in consumer electronics, construction, agriculture, automotive, military and defense, marine, and transport.
What Are The Regional Insights In The GNSS Chip Market?
The Asia-Pacific region had the largest market share in the GNSS chip market in 2024 and is also projected to be the quickest-growing region in the forecast period. The other regions covered in the market report are Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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