US GNSS Chip Market Share, Trends, Revenue, Growth Strategy, Challenges, Opportunities, Key Players, CAGR Status and Future Competition Till 2033: SPER Market Research
Market Overview and Market Insights: Global navigation satellite systems (GNSS) are constellations of satellites that transmit signals from orbit to GNSS receivers, which give position, navigation, and time information. It is composed of satellite navigation systems including GPS, GLONASS, Beidou, and Galileo and offers users worldwide precise real-time location and timing services. There are now three fully operational GNSS systems in use globally. Russia’s Global Orbiting Navigation Satellite System (GLONASS) ranks second, followed by the European Union’s Galileo system and the United States’ Global Positioning System (NAVSTAR). In addition, it has many applications in location-based services, agriculture, maritime navigation, and other fields.
Based on SPER Market Research, the report titled “United States GNSS Chip Market Size – By Device, Application, and Vertical – Regional Analysis, Competitive Strategies, and Segment Forecast to 2033″ indicates that the U.S. GNSS chip market is projected to attain a value of USD XX billion by 2033, growing at a CAGR of XX%.
Drivers: Because GNSS chips are increasingly being used for mapping and surveying applications including tracking uncharted territory, agriculture, and construction, the market for GNSS chips is booming. A major factor driving the growth of the GNSS Chip market is the growing requirement to track the current location of moving objects, assets, or people in order to obtain real-time information for safety and security measures. Due to the increasing number of emergency locator transmitters installed on aeroplanes for search and rescue operations, the market is growing. The availability of multiple atomic clocks in GNSS chips that concentrate on clock synchronisation to determine precise geographical position, speeding up commercial vehicle tracking systems, is driving the growth of the US GNSS Chip market.
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Restraints: The main obstacles are concerns about security and the expensive price of GNSS chips. For high-precision applications, GNSS chips are expensive. The commercial spread of GNSS chips is constrained by small businesses’ inability to adopt new technology. Coverage is often limited in many places due to natural impediments such as buildings, trees, and mountains. This reduces the use of GNSS technology and has an impact on location data accuracy. Furthermore, other technologies like Bluetooth and Wi-Fi-based technologies are available that hinder the expansion of this market. There are several circumstances in which such alternative technologies can offer greater precision at a lesser price. When it comes to cybersecurity, workers in national security and defence institutions have difficulties when using GNSS technology.
COVID-19 Impact: The COVID-19 pandemic had a profound effect on the GNSS chip industry in the United States. Early lockdowns and disruptions in the supply chain hampered production, which affected the availability of GNSS chips in several businesses. However, as the pandemic progressed, GNSS technology became increasingly important for supporting public health initiatives and logistics. GNSS-enabled devices were frequently utilised to keep tabs on quarantine compliance, track contacts, and help with the provision of essentials, especially in rural areas. The healthcare industry’s growing need for location-based services and supply chain optimisation also contributed to the growth. GNSS technology was also used more frequently as last-mile deliveries and autonomous transportation systems expanded. Due to this shift, GNSS chip development and adoption accelerated.
California (Western region) dominates the United States GNSS Chip Market due have high concentration of research institutions and a supportive ecosystem for R&D. Major players in the market are Qualcomm Incorporated, Broadcom Limited, STMicroelectronics NV, MediaTek Inc., Intel Corporation.
United States GNSS Chip Market Segmentation:
By Device: Based on the Device, United States GNSS Chip Market is segmented as; Smartphones, Tablets, Personal Navigation Devices, In-Vehicle systems and others.
By Application: Based on the Application, United States GNSS Chip Market is segmented as; Navigation and Location-Based Services, Mapping and Surveying, Telematics, Timing and Synchronization, Others.
By Vertical: Based on the Vertical, United States GNSS Chip Market is segmented as; Consumer Electronics, Automotive and Transportation, Military and Defense, Marine, Others.
By Region: This research also includes data for Eastern Region, Western Region, Southern Region and Northern Region.
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