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The rising emphasis on the growth of smart cities is the main factor driving the GNSS chip market all around the world. The advance of smart cities denotes an urban development vision to integrate IoT technology and ICT in a secure means for managing the resources of the city in an effective manner. Rapid urbanization all around the world is leading to the snowballing focus on more sustainable kinds of cities.

 Because of this, governments of numerous nations are more and more funding smart city projects. GNSS chips are utilized as a key enabler in smart city infra, in addition to in well-organized city planning and upkeep. Hence, the fast urbanization, in the company with the growing emphasis on the progress of smart cities, is responsible for the GNSS chip market growth.

The market is categorized into transport, automotive, consumer electronics, agriculture, construction, marine and military, and defense. Among all of these verticals, the automotive one has the largest demand in the GNSS chip market. As a result of the increasing technological improvements in connected vehicles, the need for GNSS-enabled applications and services in the automotive sector is constantly rising at a global level.

Smart Cities use big data and IoT for the exchange of digital info and communication for improvising the city services regarding performance, excellence, and well-being of citizens. The applications associated with Smart City are advanced keeping in mind the development of urban flow management. The number of people living in cities will be doubled by 2050. The urban population will reach six billion by 2050. This will surge the enormous pressure on the accessible resource

The GNSS chip market is categorized into, tablets, smartphones, PND, in-vehicle systems, and others. Among these, smartphones are the market dominator and will continue like this in the coming years as well. This has much to do with the increasing demand for smartphones, as a result of their falling prices in the global market, particularly in developing nations. The falling prices are directly responsible for the people buying more smartphones and thus propelling the demand for navigation chips.

The major companies in the GNSS chip market are focusing on the introduction of products and partnerships to increase their standing. Chip manufacturers are focusing more and more on strategic associations with tech providers to syndicate each other’s know-how and offer enhanced GNSS chips. The main market players include Broadcom Limited, Qualcomm Incorporated Intel Corporation, Skyworks Solutions Inc., Furuno Electric Co. Ltd., Quectel Wireless Solutions Co. Ltd., NXP Semiconductors, Navika Electronics, MediaTek Inc., and U-blox Holding AG.

A key factor driving the growth of the GNSS chip market is the growing popularity of AR, which refers to a technology that integrates the machine-generated digital information with the real-time user environment. The market for AR is expected to grow at a rapid pace in the coming years due to the increasing demand for it in various sectors, such as retail, medical, architecture, and e-commerce, globally. As GNSS plays an important role in AR by allowing the formation of a direct link between the surrounding reality and digital objects, the growing popularity of AR is driving the market across the globe.

The increasing demand for wearable and connected devices and electronics, and the growing requirement for accurate and instantaneous data are driving the demand for GNSS chip technology.