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GNSS Chip Market 2021: Top Companies Analysis & More

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PaulLui

According to our latest market study on “GNSS Chip Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Device, Application, and Vertical,” the market is projected to reach US$ 8,324.27 million by 2028 from US$ 5,669.00 million in 2021; it is expected to grow at a CAGR of 5.6% from 2021 to 2028.

The global navigation satellite system (GNSS) is a constellation of satellites that broadcasts signal from space, and transmits positioning and time data to GNSS receivers. The receivers then combine the data with other sensors to identify other aspects such as location, speed, and altitude. The precision and accuracy of such chips are mostly determined by the visible range of satellites. As a result, several governments are attempting to deploy regional constellations to improve navigation and mapping services. Only five countries—China, Russia, the US, India, and Japan—and the European Union have GNSS systems on the market.

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GNSS system users expect near-instantaneous position exchange. The standard location makes this exchange difficult as at least four satellites must be recognized and their whole data must be obtained. Data transmission and reception might take minutes, hours, or fail under poor signal circumstances or extreme settings. However, by combining GNSS receiver data with information from mobile network cells, the performance can be improved to benefit various IoT applications. Low-power GNSS chips are projected to be in high demand as the number of consumer products with navigation and positioning functionalities increases. Currently, technologically advanced wearable devices are in high demand. About half of the world's population wears tech-advanced wearable gadgets, such as fitness bands and smartwatches. GNSS chips are widely used in these devices to provide exact location information to users while running, walking, or driving.

For more details visit here @ https://www.theinsightpartners.com/reports/gnss-chip-market

GNSS Chip Market: Device Overview                                                                                                    

Based on device, the GNNS chip market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. In 2021, the smartphones segment led the market and accounted for a larger market share.

About Us:                                                                                                           

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Contact Person: Sameer Joshi

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