[FURL=https://www.industryarc.com/Research/Gnss-Chip-Market-Research-505349?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]GNSS Chip Market[/FURL]GNSS Chip market size is estimated to reach US$ 5.98 billion by 2026 and grow at a CAGR of 6.5% during 2021-2026. Increasing implementation of GNSS chips for mapping and surveying tasks such as tracking unfamiliar locations, suitable for mining, agriculture and construction is stimulating GNSS Chip market growth. The growth of GNSS Chip market is majorly attributed to growing demand for tracking current location of moving objects, assets or individuals to collect real-time information for safety and security purposes. Growth in emergency locator transmitters attached to an aircraft for search and rescue operations are contributing to the growth of market.Key Takeaways
Smartphones accounted for the largest market share in 2020 and is estimated to dominate the market during 2021-2026 owing to rising integration of GNSS chips on smartphones for navigation purpose
Automotive industry is estimated to witness the highest growth during 2021-2026 owing to rising penetration of GNSS chips into automated guided vehicles. (AGV)
APAC is estimated to dominate the GNSS Chip market between 2021-2026 due to rising popularity of consumer electronics devices for gaining real-time information about precise positions of assets or individuals.
Increasing demand for asset tracking solutions and rising adoption of unmanned vehicles are analyzed to boost the growth of GNSS chip market during the forecast period 2021-2026.
Download Sample Report @ [FURL]https://www.industryarc.com/pdfdownload.php?id=505349[/FURL]
GNSS Chip Market Segment Analysis- By Geography
By Geography, GNSS Chip Market has been segmented into North America, Europe, APAC, South America and RoW. APAC accounted for the largest GNSS chip market share of 33% in 2020 and is estimated to dominate the GNSS Chip Market from 2021 to 2026. APAC's major manufacturers of consumer electronics are focused on introducing new and creative products that require real-time information to monitor and record precise positions using different devices, such as smartphones, wearable devices, tablets, and so on. Consequently, the continuing developments in technology in the consumer electronics industry and the increasing popularity of wearable devices, IoT technologies deliver a range of new devices and service offerings that will make it easier for customers to live and work; hence driving the market growth.
GNSS Chip Market Drivers
Rising demand for industrial asset tracking solutions
Increasing demand for unmanned aerial vehicles
GNSS Chip Market Landscape
GNSS Chip top 10 companies include Qualcomm Incorporated, STMicroelectronics NV, MediaTek Inc., U-Blox Holding AG, Broadcom Limited, Intel Corporation, Furuno Electric Co., Ltd., Skyworks Solutions, Inc., Quectel Wireless Solutions Co., Ltd., Navika Electronics among others.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.