At 9.8% CAGR, Asia Pacific GNSS Chip Market is Projected to be Worth US$ 3,532.74 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific GNSS chip market was valued at US$ 1,670.45 million in 2022 and is expected to reach US$ 3,532.74 million by 2030, registering a CAGR of 9.8% from 2022 to 2030. Upsurging need for accuracy in real-time data and growing use of IoT technology in autonomous vehicles

Real-time, accurate location data is crucial for various navigation and mapping applications, including ride-hailing services, delivery drones, and precise driving directions. GNSS chips enable these applications by providing real-time positioning information. GNSS surveying technologies offer a wide range of accuracy levels and approaches to satisfy the needs of many applications. Single point positioning (SPP) offers simple location; real-time kinematic (RTK) and post-processing kinematic (PPK) offer centimeter-level precision, and Differential Positioning (DGPS) enhances accuracy. Owing to its, lower latency, and real-time corrections, RTK stands out as the most accurate approach. High accuracy in surveying operations can be attained with the help of sophisticated data processing software, integrated sensor systems, and high-end GNSS receivers with multi-constellation and multi-frequency capabilities. Through a comprehensive understanding of the various GNSS surveying techniques and suitable equipment selection, experts can guarantee precise and dependable outcomes for their projects. Thus, the increasing demand for real-time, accurate data drives the Asia Pacific GNSS chip market growth. In addition, the emergence of technological advances and new applications propels the need for reliable and efficient GNSS solutions.

On the contrary, low accuracy of signals in underground and indoor environments hampers the growth of Asia Pacific GNSS chip market.

Based on device, the Asia Pacific GNSS chip market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. The smartphones segment held 54.4% share of the Asia Pacific GNSS chip market in 2022, amassing US$ 908.83 million. It is estimated to garner US$ 1,822.54 million by 2030 to expand at 9.1% CAGR during 2022–2030.

In terms of application, the Asia Pacific GNSS chip market is segmented into navigation and location-based services, mapping and surveying, telematics, timing and synchronization, and others. The navigation and location-based services segment held 59.9% share of the Asia Pacific GNSS chip market in 2022, amassing US$ 1,000.20 million. It is estimated to garner US$ 2,126.67 million by 2030 to expand at 9.9% CAGR during 2022–2030.

By vertical, the Asia Pacific GNSS chip market is segmented into consumer electronics, automotive & transportation, military & defense, marine, and others. The consumer electronics segment held 45.5% share of Asia Pacific GNSS chip market in 2022, amassing US$ 759.82 million. It is predicted to garner US$ 1,628.39 million by 2030 to expand at 10.0% CAGR during 2022–2030.

Based on country, the Asia Pacific GNSS chip market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 27.5% share of Asia Pacific GNSS chip market in 2022, amassing US$ 459.37 million. It is projected to garner US$ 797.74 million by 2030 to expand at 7.1% CAGR during 2022–2030.

Key players operating in the Asia Pacific GNSS chip market are Qualcomm Inc, Skytraq Technology Inc, Broadcom Inc, Septentrio NV, Trimble Inc, Furuno Electric Co Ltd, MediaTek Inc, STMicroelectronics NV, Skyworks Solutions Inc, and u-blox Holding AG, among others.

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