Multi GNSS Receiver Chips Market Research, Outlook, Trends & Forecast to 2030

Multi GNSS Receiver Chips Market Insights:

In a recent research report by Market Research Community, the Multi GNSS Receiver Chips market is expected to surpass USD 8,026.74 Million by the year 2030, from USD 4,715.88 Million in 2021.

Multi GNSS receiver chips process the signals broadcasted by multiple GNSS satellites to provide accurate user location, velocity, and precise time data. It also enables accurate positioning tracking of the devices. The features of GNSS receiver chips such as simultaneous tracking of line-of-sight and multiple reflections from each satellite results in a significant improvement in its ability to mitigate urban multipath, thus, offering a smooth navigation experience.

The Multi GNSS Receiver Chips Market Industry is expected to grow in the coming years, driven by the increasing demand for precise navigation and positioning services in various industries, such as automotive, aviation, and maritime. The growing adoption of Internet of Things (IoT) devices and the increasing use of location-based services in mobile applications are also expected to contribute to the growth of the market.

By frequency, dual frequency segment is estimated to grow at a highest CAGR of 6.7% during the forecast period. Dual frequency GNSS receiver chips can obtain centimeter-level reliable positioning accuracy. Dual frequency receiver chips have access to the maximum number of constellations and signals which allows these chips to offer the best positioning availability along with the highest accuracy and resilience in challenging and multiple environments.

Moreover, these chips generally give more information to the receiver in comparison to single-frequency chips, thereby reducing the error rate. Another major benefit of using dual-frequency GNSS is the availability of backup in case of a system failure. Thus, these benefits of dual frequency chips are increasing their adoption in the automotive, aviation, and marine sectors for use in navigation, telematics, communication, infotainment, and other related systems.

According to the Ministry of Industry and Information Technology of China, the electronic manufacturing sector in China was valued at USD 2.2 trillion in 2021, representing a significant growth of 14.7% year-on-year. Meanwhile, according to Invest India, the electronics industry in India was valued at USD 118 billion in 2021, with domestic electronic production reaching up to USD 9.9 billion.

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Among these, Samsung is the most important smartphone manufacturer in South Korea, which conducts IC design, smartphones, and printed circuit boards (PCB) manufacturing.

Factors such as the increasing development of new technologies in the electronics sector, rise in disposable income, and surging penetration of smartphones, laptops, and other consumer devices with advanced features in Asia-Pacific are some of the key aspects driving the growth of the electronics sector in the region. Thus, the surging growth of the electronics industry in the region will drive the demand for multi GNSS receiver chips for use in the production of electronic products such as smartphones, laptops, tablets, and other consumer electronics devices. The use of GNSS receiver chips in consumer electronic devices helps in acquiring accurate user location, velocity, and precise time data. It also allows accurate positioning tracking of the devices. This will further accelerate the growth of the market in the Asia-Pacific region.

Market Segment:

By Type (GPS/GNSS Receiver Chip and GPS/GNSS Receiver Module)

By Frequency (Single Frequency and Dual Frequency)

By Application (Camera, On-Board System, Outdoor Navigation Equipment, Smart Phone, Tablet, Wearable System, and Others)

By End-Users (Automotive, Consumer Electronics, Aviation, and Other End-user Industries)

By Region

North America: U.S., Canada, Mexico

Europe: Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe

Asia Pacific: China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific

Latin America: Brazil, Argentina, Chile, Rest of Latin America

The Middle East and Africa: GCC, Turkey, Israel, Rest of MEA

The Multi GNSS Receiver Chips market Outlook is expected significantly over the next few years in market growth segments in the industries and provide the users with a valuable market overview and insights to help them make strategic decisions for identifying core market applications.

Lastly, the report includes a regional analysis and country analysis with the latest trends, along with the major key players including Broadcom, Furuno Electric, Huada Beidou, MediaTek Inc., Qualcomm Technologies, Inc., STMicroelectronics, U-blox, Wuhan Mengxin, Zhongke Microelectronics, Allystar Technology Co. Ltd.

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