Rising Adoption of Technological Advancements such as Big Data and Augmented Reality Drives Europe GNSS Chip Market
Big data analytics can be used to analyze vast amounts of GNSS data, leading to a better understanding of user behavior, signal propagation, and error correction. This can inform the development of more accurate, efficient, and reliable GNSS chips. Also, big data can be used to personalize location-based services, making them relevant and valuable to users.This could boost demand for GNSS chips in various applications such as navigation, asset tracking, and geospatial mapping. In September 2022, a project named real-time integrity for GNSS using opportunistic receivers (RIGOUR) was started. This project demonstrates the feasibility and quantification of the benefits (with respect to existing Integrity systems) of "Real-time big data processing for GNSS Integrity" using large-scale simulations. It proposed activities aimed to assess new GNSS integrity concepts, namely:
- Satellite integrity: Massive use of general GNSS user terminals as a main source of input data to generate satellite integrity information from a GNSS Integrity Processor, with no or a reduced number of System reference stations.
Also, through the intuitive and immersive experience that augmented reality offers, surveyors can better understand the context and layout of the surveying site. During stakeout activities, this enhanced spatial awareness helps facilitate more informed decision-making. Thus, the combined influence of big data, augmented reality, and other factors is likely to propel the Europe GNSS chip market growth in the coming years.
Europe GNSS Chip Market Overview
The Europe GNSS chip market growth is primarily attributed to the rising volume of consumer electronics equipped with navigation and positioning features. In addition, rising demand for 4G and 5G network coverage, high-speed internet, and increasing penetration and sales of wearable devices across various global economies are the key factors projected to propel the demand for GNSS chips.In 2020, Europe held 25.7% of the global GNSS chip market share, and Germany accounts for a substantial share in the regional market, followed by the UK and France. Future growth perspectives are promising, as multi-GNSS applications and user uptake in Central and Eastern Europe are expected to increase. In addition, the increasing penetration in the aviation sector will positively influence the market growth, as flights were designed to use performance-based navigation (PBN), and already more than 460 EGNOS-enabled approaches are operational in Europe. GNSS is the leading means of obtaining position, navigation, and timing (PNT) information at sea. Multi-GNSS solutions are favored, with Europe being the third-largest worldwide market for maritime GNSS devices.
Several European countries have initiated projects to develop advanced UAVs, as the attainment of technology from abroad goes contrary to European industrial interests and compromises the EU's industrial autonomy. The "Euro drone Project" is one of the major projects in the region backed by the European Defense Agency; the project aims to provide a European MALE UAV by 2025. Germany, France, Italy, and Spain are among the countries that are at the forefront of these developments.
Europe GNSS Chip Market Segmentation
- The Europe GNSS chip market is segmented based on device, application, vertical, and country.
- Based on device, the Europe GNSS chip market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. The smartphones segment held the largest share in 2022.
- In terms of application, the Europe GNSS chip market is segmented into navigation and location-based services, mapping and surveying, telematics, timing and synchronization, and others. The navigation and location-based services segment held the largest share in 2022.
- By vertical, the Europe GNSS chip market is segmented into consumer electronics, automotive & transportation, military & defense, marine, and others. The consumer electronics segment held the largest share in 2022.
- Based on country, the Europe GNSS chip market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Rest of Europe dominated the Europe GNSS chip market in 2022.
- Qualcomm Inc, Broadcom Inc, Septentrio NV, Trimble Inc, Furuno Electric Co Ltd, MediaTek Inc, STMicroelectronics NV, Skyworks Solutions Inc, and u-blox Holding AG are some of the leading companies operating in the Europe GNSS chip market.
Market Highlights
- Based on device, the Europe GNSS chip market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. The smartphones segment held 56.4% share of the Europe GNSS chip market in 2022, amassing US$ 694.01 million. It is estimated to garner US$ 1.14 billion by 2030 to expand at 6.4% CAGR during 2022-2030.
- In terms of application, the Europe GNSS chip market is segmented into navigation and location-based services, mapping and surveying, telematics, timing and synchronization, and others. The navigation and location-based services segment held 57.0% share of the Europe GNSS chip market in 2022, amassing US$ 700.72 million. It is estimated to garner US$ 1.21 billion by 2030 to expand at 7.1% CAGR during 2022-2030.
- The consumer electronics segment held 41.5% share of Europe GNSS chip market in 2022, amassing US$ 510.07 million. It is predicted to garner US$ 910.78 million by 2030 to expand at 7.5% CAGR during 2022-2030.
- The Rest of Europe held 26.6% share of Europe GNSS chip market in 2022, amassing US$ 327.76 million. It is projected to garner US$ 681.08 million by 2030 to expand at 9.6% CAGR during 2022-2030.
Reasons to Buy
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- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe GNSS chip market, as well as those hindering it
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Table of Contents
Companies Mentioned
Some of the leading companies in the Europe GNSS Chip market include:- Qualcomm Inc
- Broadcom Inc
- Trimble Inc
- Furuno Electric Co Ltd
- MediaTek Inc
- STMicroelectronics NV
- u-blox Holding AG
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 139 |
Published | August 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 1.23 Billion |
Forecasted Market Value ( USD | $ 2.13 Billion |
Compound Annual Growth Rate | 7.1% |
Regions Covered | Europe |
No. of Companies Mentioned | 8 |