GPS (Global Positioning System) Chips Market Size Projections Indicate a CAGR of 17.93%, Envisioned to Attain a Value of USD 721.36 Million by 2030

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NEW YORK, United States, July 27, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “GPS (Global Positioning System) Chips Market – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030” in its research database. According to the latest research study, the global GPS (Global Positioning System) Chips Market size was valued at around USD 189.67 million in 2022. The market is expected to grow above a CAGR of 17.93% and is anticipated to reach over USD 721.36 million by 2030.

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GPS (Global Positioning System) Chips Market Overview:

GPS chips are electronic components that enable devices to determine their precise location on Earth’s surface by receiving signals from GPS satellites. These chips are indispensable for location-based services, including mapping software, monitoring devices, and navigation systems, among others. Utilising a system of satellites that orbit the Earth, this technology functions. These satellites perpetually transmit signals containing timestamps and precise location data. Trilateration, a technique employed by GPS processors in receiving devices, allows for the determination of the device’s location. Due to the growing demand for digitalization in industrial applications, the GPS (global positioning system) semiconductor market is growing.

The GPS processors are used to receive satellite-based GPS signals. It is possible to transmit data from the processors to the controlling computers or mobile phones. Usually, a GPS monitoring programme is loaded to display the location of the chip. Due to their diminishing size and weight, nearly all electronic devices can now incorporate GPS processors. The market for GPS (global positioning system) processors is expanding due to a rise in demand for tracking devices and security systems, as well as an increase in smartphone consumption and production. In addition, the increase in commercial vehicles and the accelerated adoption of digital media will accelerate market expansion.

Key Insights from Primary Research

  • As per the analysis, the GPS (Global Positioning System) Chips market share is likely to grow above a CAGR of around 17.93% between 2023 and 2030.
  • The GPS (Global Positioning System) Chips market size was worth around USD 189.67 million in 2022 and is estimated to hit approximately USD 721.36 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • The increasing automotive industry is expected to drive the GPS chips market growth during the forecast period.
  • Based on the application, the mobile phone segment is expected to capture a significant market share over the forecast period.
  • Based on the end user, the automotive industry is expected to grow significantly during the forecast period.
  • Based on region, the Asia Pacific is expected to dominate the market over the forecast period.

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GPS (Global Positioning System) Chips Market: Growth Drivers

  • Increasing demand for GPS-Enabled wearable devices drives the market growth

The expansion of the GPS chip market is predicted to be fueled by the development of GPS-enabled consumer wearable devices, including fitness trackers, smartwatches, apparel, and footwear. Due to rising disposable income, customer demand for convenience, and rising fitness & health consciousness, consumer wearable technology is becoming more and more popular. Through wearable technology, the rise of fitness monitoring bands affects the fitness industry. Fitness trackers are used more commonly because they help people establish daily objectives, remain motivated, get the most out of their workouts, and regularly check their fitness. Thus, this is expected to drive market growth during the forecast period.

GPS (Global Positioning System) Chips Market: Restraints

  • Privacy concerns act as a major restraint on the market growth

The tracking of exact positions might include sensitive data, hence the usage of GPS chips poses privacy issues. The gathering, storing, and use of location data received by GPS chips may be limited in some areas by laws and user preferences about privacy and data protection. Manufacturers of GPS chips and application developers must take user privacy issues into account while developing their products. Thus, privacy is the major concern that hampers the GPS chips industry growth over the forecast period.

Competitive Players

The report contains qualitative and quantitative research on the global GPS (Global Positioning System) Chips Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness.

Some of the main players in the global GPS (Global Positioning System) Chips market include;

  • Unictron Technologies Corporation.
  • Broadcom
  • SPK ELECTRONICS CO. LTD. Maxim Integrated
  • SparkFun Electronics
  • FURUNO ELECTRIC CO. LTD.
  • ROADPOINT LIMITED
  • Skyworks Solutions Inc.
  • SkyTraq Technology Inc.
  • Central Electronics Limited
  • NovAtel Inc.
  • ROAD POINT INDIA
  • Isecuro
  • ESINO
  • SHENZHEN ZHONGHE ELECTRONIC CO. LTD.
  • OriginGPS Ltd.
  • Shenzhen Dragon Bridge Technology Co. Ltd
  • VLSI Solution Oy
  • Analog Devices Inc.
  • Shenzhen Eelink Communication Technology Co. Ltd.
  • ThinkRace Technology

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GPS (Global Positioning System) Chips Market: Segmentation

The global GPS (Global Positioning System) Chips industry is segmented based on product type, application, end-user, and region.

Based on the product type, the global market is bifurcated into simple type, professional type, and others. Based on the application, the global GPS (Global Positioning System) Chips industry is divided into navigation, mobile phone, and others. The mobile phone segment is expected to capture a significant market share over the forecast period.

Based on the end user, the market is segmented into consumer electronics, automotive, military and defense, transportation, aerospace, and others. The automotive industry is expected to grow significantly during the forecast period. In ADAS applications, GPS chips are used to increase driving convenience and safety.

Regional Analysis:

  • Asia Pacific is expected to dominate the market during the forecast period

Asia-Pacific is expected to dominate the global market during the prediction period. The regional expansion is a result of the expanding automotive industry. This region is home to three of the world’s greatest automobile markets: China, Japan, and South Korea. Developing automotive industries in these and other countries in the region are driving the demand for GPS chips, particularly for telematics, connected vehicles, and in-car navigation systems. China is the largest market, followed by India and South Korea.

China will dominate the Asia-Pacific connected vehicle market due to the proliferation of connectivity features in the newest automobile models. With rising technological advantages in ICT, data processing, and platform services, secure industrial investment, a highly focused industrial strategy, and central government support, China’s domestic market will determine the future of the associated vehicle industry. According to the National Development and Reform Commission, by 2021, one out of every two new automobiles sold in China will have intelligent autonomous capabilities. Consequently, this is anticipated to drive market expansion over the forecast period.

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Key questions answered in this report:

  • What is the market size and growth rate forecast for GPS (Global Positioning System) Chips industry?
  • What are the main driving factors propelling the GPS (Global Positioning System) Chips Market forward?
  • What are the leading companies in the GPS (Global Positioning System) Chips Industry?
  • What segments does the GPS (Global Positioning System) Chips Market cover?
  • How can I receive a free copy of the GPS (Global Positioning System) Chips Market sample report and company profiles?

Report Scope:

Report Attribute Report Details
Market Size in 2022 USD 189.67 Million
Market Forecast in 2030 USD 721.36 Million
Growth Rate CAGR of 17.93%
Base Year 2022
Forecast Years 2023- 2030
Key Companies Covered Unictron Technologies Corporation., Broadcom, SPK ELECTRONICS CO. LTD. Maxim Integrated, SparkFun Electronics, FURUNO ELECTRIC CO. LTD., ROADPOINT LIMITED, Skyworks Solutions Inc., SkyTraq Technology Inc., Central Electronics Limited, NovAtel Inc., ROAD POINT INDIA, Isecuro, ESINO, SHENZHEN ZHONGHE ELECTRONIC CO. LTD., OriginGPS Ltd., Shenzhen Dragon Bridge Technology Co. Ltd, VLSI Solution Oy, Analog Devices Inc., Shenzhen Eelink Communication Technology Co. Ltd., and ThinkRace Technology among others.
Segments Covered By Product Type, By Application, By End User, and By Region
Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Customization Scope Avail customized purchase options to meet your exact research needs.


Browse Complete Report Here | GPS (Global Positioning System) Chips Market By Product Type (Simple Type, Professional Type, And Others), By Application (Navigation, Mobile Phone, And Others), By End User (Consumer Electronics, Automotive, Military, And Defense, Transportation, Aerospace, And Others) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030

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The global GPS (Global Positioning System) Chips market is segmented as follows:

By Product Type

  • Simple Type
  • Professional Type
  • Others

By Application

  • Navigation
  • Mobile Phone
  • Others

By End User

  • Consumer Electronics
  • Automotive
  • Military and Defense
  • Transportation
  • Aerospace
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Southeast Asia
  • The Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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What Reports Provides:

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market

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