The Europe GNSS chip market was valued at US$ 1,230.32 million in 2022 and is expected to reach US$ 2,131.32 million by 2030; it is estimated to register at a CAGR of 7.1% from 2022 to 2030.
Rising Adoption of Technological Advancements such as Big Data and Augmented Reality Drives Europe GNSS Chip Market
Big data analytics can be used to analyze vast amounts of GNSS data, leading to a better understanding of user behavior, signal propagation, and error correction. This can inform the development of more accurate, efficient, and reliable GNSS chips. Also, big data can be used to personalize location-based services, making them relevant and valuable to users. This could boost demand for GNSS chips in various applications such as navigation, asset tracking, and geospatial mapping. In September 2022, a project named real-time integrity for GNSS using opportunistic receivers (RIGOUR) was started. This project demonstrates the feasibility and quantification of the benefits (with respect to existing Integrity systems) of "Real-time big data processing for GNSS Integrity" using large-scale simulations. It proposed activities aimed to assess new GNSS integrity concepts, namely:
Europe GNSS Chip Market Overview
The Europe GNSS chip market growth is primarily attributed to the rising volume of consumer electronics equipped with navigation and positioning features. In addition, rising demand for 4G and 5G network coverage, high-speed internet, and increasing penetration and sales of wearable devices across various global economies are the key factors projected to propel the demand for GNSS chips.
In 2020, Europe held 25.7% of the global GNSS chip market share, and Germany accounts for a substantial share in the regional market, followed by the UK and France. Future growth perspectives are promising, as multi-GNSS applications and user uptake in Central and Eastern Europe are expected to increase. In addition, the increasing penetration in the aviation sector will positively influence the market growth, as flights were designed to use performance-based navigation (PBN), and already more than 460 EGNOS-enabled approaches are operational in Europe. GNSS is the leading means of obtaining position, navigation, and timing (PNT) information at sea. Multi-GNSS solutions are favored, with Europe being the third-largest worldwide market for maritime GNSS devices.
Several European countries have initiated projects to develop advanced UAVs, as the attainment of technology from abroad goes contrary to European industrial interests and compromises the EU's industrial autonomy. The "Euro drone Project" is one of the major projects in the region backed by the European Defense Agency; the project aims to provide a European MALE UAV by 2025. Germany, France, Italy, and Spain are among the countries that are at the forefront of these developments.
Europe GNSS Chip Market Revenue and Forecast to 2030 (US$ Million)
Europe GNSS Chip Market Segmentation
The Europe GNSS chip market is segmented based on device, application, vertical, and country.
Based on device, the Europe GNSS chip market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. The smartphones segment held the largest share in 2022.
In terms of application, the Europe 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 the largest share in 2022.
By vertical, the Europe GNSS chip market is segmented into consumer electronics, automotive & transportation, military & defense, marine, and others. The consumer electronics segment held the largest share in 2022.
Based on country, the Europe GNSS chip market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Rest of Europe dominated the Europe GNSS chip market in 2022.
Qualcomm Inc, Broadcom Inc, Septentrio NV, Trimble Inc, Furuno Electric Co Ltd, MediaTek Inc, STMicroelectronics NV, Skyworks Solutions Inc, and u-blox Holding AG are some of the leading companies operating in the Europe GNSS chip market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,230.32 Million |
| Market Size by 2030 | US$ 2,131.32 Million |
| CAGR (2022 - 2030) | 7.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Device
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe GNSS Chip Market is valued at US$ 1,230.32 Million in 2022, it is projected to reach US$ 2,131.32 Million by 2030.
As per our report Europe GNSS Chip Market, the market size is valued at US$ 1,230.32 Million in 2022, projecting it to reach US$ 2,131.32 Million by 2030. This translates to a CAGR of approximately 7.1% during the forecast period.
The Europe GNSS Chip Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe GNSS Chip Market report:
The Europe GNSS Chip Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe GNSS Chip Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe GNSS Chip Market value chain can benefit from the information contained in a comprehensive market report.
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