The unprecedented growth pace of global navigation satellite system chip market is quite evident from Qualcomm’s recent launch of chipsets for Android smart phones. Equipped with ISRO’s NavIC GPS, these chipsets are also likely to support the expansively used global navigation satellite system, thus offering a positive growth trajectory to the overall GNSS chip market over the forthcoming years. These chips are abundantly used by some of the major industries including military, automotive, aviation, airlines, and surveying for facilitating smooth communication.
GNSS chip market is observing profitable gains owing to the expanding urbanization and extensive adoption of technology. Not to mention, burgeoning demand for low power portable devices and point of care devices deployed with advanced technologies would further expand the global market share in the ensuing years. Global Market Insights, Inc., predicts that the GNSS chips market is set to accrue notable gains in the upcoming years, characterized by the below mentioned trends:
Heightened demand for unmanned aerial vehicles
One of the recent fads in the GNSS chip market is the mounting demand for unmanned aerial vehicles. Unmanned aerial vehicle is a system which is being remotely operated by an autonomous computer for monitoring, mapping of large-scale areas, and real-time assessment. One of the prominent application areas that generate huge demand for GNSS chips across these vehicles is mapping of areas affected by natural disasters.
Incorporation of advanced technology in wearable devices
Technologically advanced wearable devices are a thing of the present now. Today, almost more than 50 per cent of the global population has been using tech-advanced wearable devices, such as fitness bands, smart watches, etc. GNSS chips are majorly being integrated into these devices to give precise locations to the user even while running, walking, or driving, allowing them to stay connected with their closed ones.
An exemplary model for the same is an offering by FollowMe, an iOS application which has been developed to track the location of user’s friends and relatives, thereby reducing the security risks. It is noteworthy to mention, that this technology is also being used by several research companies to survey the market by determining more flexibility than the conventionally used surveying tools.
Increasing chip demand across automotive industry
A trillion-dollar business space- the automotive industry has emerged as a remunerative vertical across the global GNSS chip market, courtesy- rising sales of GPS enabled automobiles. With emergence of automobiles enabled with innovative functionalities, deployment of GPS has been immensely benefitting the autonomous driving technology, which determines the user lane and direction and to navigate in vivid directions. These satellite systems also allow users to track live and accurate locations.
Booming demand across Europe
The global GNSS chip industry is diversified into Europe, North America, Asia Pacific, and the ROW. Amidst this ongoing share battle, Europe is anticipated to emerge as a profitable growth ground for the GNSS chip industry. Thanks to the ever-expanding automotive industry and the robust presence of large number of satellites across the region.
In fact, as per various reports, one of the most prominent satellite navigation systems of Europe, Galileo, boasts of a maximum number of satellites with ultra-high frequencies. As a matter of fact, today, there are over more than 30 companies that are currently producing Galileo ready chips across and outside Europe. Considering the smartphone market, there are more than 20 electronic companies which have already begun producing Galileo enabled models, offering a thrust to the Europe GNSS chip market.
Also, it is noteworthy to mention that Galileo is a GNSS available for both commercial and civilian use. A fully deployed Galileo system consists of 30 operational satellites and around 6 in-orbit spares. As per credible sources, Galileo began offering Early Operational Capability from 2016 and was expected to reach full operational capability by 2020, which remains a question of debate due to the outbreak of dreaded COVID-19.