Nano GPS Chip Market: Global Industry Analysis and Forecast (2023-2029)

Nano GPS Chip Market was valued at US$ 7.92 Bn in 2022, and the total Nano GPS Chip revenue is expected to grow at a CAGR of 12.6% for the period 2022-2029, reaching nearly US$ 18.18 Bn in 2029.
Nano GPS Chip Market Overview:
The GPS stands for the global positioning system, which is a satellite navigation system used to detect the locations and on-time information of climatic conditions. Because of technological advancement, nano-sized GPS chips come into existence. Due to Its small size and high accuracy is increasingly used in the navigation of planes, ships, cars, and military purposes. Digitization of industrial applications and increasing demand for commercial applications with tractable systems are drawing the growth of the nano GPS chips market. As a result, the global nano GPS market is expected to reach US$ 18.18 Bn by 2029.To know about the Research Methodology:- Request Free Sample Report
Nano GPS Chip Market Dynamics:
The increasing attraction of population toward smart home appliances, rising investment in research and developments, and growing focus toward IoT devices are driving the growth of the market. The use of nano GPS chips in smart devices helps in finding the positions of devices in all environments by using smart information and reducing complexity. The growth of the sports and racing sector are expected to trigger the growth of the market. These nano GPS chips are increasingly used in sports cars and bikes for tracking and detection of their locations. In 2022, the USA stood at first place by having more racing tracks, followed by Italy, Japan, and Spain.

The growing need for GPS systems in the healthcare industry for senior emergency help is fuelling the market growth. This nano GPS is used to calculate the shortest time for tracking routes, monitor temperature, monitor driving, and plans routes for the disabled. In 2022, Balco Properties Ltd is the leading producer of medical alert systems by integrating GPS chips.

Growing demand for animal tracking in agriculture-dependent countries like India and New Zealand, and government initiatives for the protection of wildlife are adding an advantage to the nano GPS market growth. In 2022 US is the largest country to use live tracking devices by a share of 38.3%. In December 2022, Herddogg, a major in animal tracking systems developed the “StarDogg” tracking device, which uses Swarn technologies satellite connectivity to detect the animals. These are some recent developments expected to drive market growth.

Presence of poor satellite signals in rural areas, chip are power-hungry devices that drain the battery in 8 to 12 hours so the regular requirement of battery replacement or recharge, these signal does not pass through the solid structures as a result of this issue the users are unable to utilize GPS service in indoors or underwater or in dense tree regions or underground stores or places, etc. these are factors slowing the growth of the nano GPS chip market.
Nano GPS Chip Market Segmentation:
Based on Type, Nano GPS Chip Market is sub-segmented into sensitivity and Low Power. The sensitivity segment dominates the global market and it held a share of 51 % in 2022. Apart from the size, these nanochips offer a higher sensitivity range of up to 165dBm for tracking and time to first fix (TTFF) of less than 1 second. As a result of these features, the nano GPS chips are increasingly used in wearable devices, asset tracking, precision agriculture, fleet management, and the law enforcement sector. Slowing demand for the low power segment is due to continuous battery failure and sudden failure at the time of working.Based on the Application, the Nano GPS Chip Market is sub-segmented into Smartphones, Wearable’s, UAVs, and Automotive. The smartphone segment dominates the global market and was valued at US$ 423.03 Mn. in 2022. Increasing production of smartphone production, increasing disposal income and increasing internet users are driving the nano GPS chips market growth. Rising utilization of smartphones in transportation services like ola and uber and growing demand to track the exact climatic condition of the region are fuelling the market growth. In 2022, HONG KONG stood at first place by importing more smartphones worth US$ 20.7 Bn, followed by China (16.7 Bn.) and the US (14 Bn.). Wearable devices stood second place in the nano GPS market because of their low power capacity, high cost, and presence of high-security risk.
Nano GPS Chip Market Regional Insights:
In 2022, North America held the largest share in the nano GPS chips controller market. The main factors propelling the growth of the market in this region are rising dependency on IoT devices, high disposable income, and growing attention toward exercise activities. Nano GPS chips integrated smart watches and phones are helping in identifying and tracking each person and their utilization in pet tracking is boosting the global market. Furthermore, the presence of global power i.e. United States and its spending on defense equipment’s are channeling the growth of the GPS market. In 2022, the US government spent around US$ 1.71 Bn. on GPS programs for country security.

The objective of the report is to present a comprehensive analysis of the global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Nano GPS Chip Market dynamics, structure by analyzing the market segments and projecting the Global Nano GPS Chip Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Nano GPS Chip Market make the report investor’s guide.
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Nano GPS Chip Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US$ 7.92 Bn.


Forecast Period 2023 to 2029 CAGR:
12.6%
Market Size in 2029:
US$ 18.18 Bn.


 Segments Covered:
by Type
• Sensitivity
• Low power


by Application
• Smartphones
• Wearable’s
• UAVs and Automotive



Nano GPS Chip Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Nano GPS Chip Market Key Players are:
• Broadcom Corporation
• Intel Corporation
• Furuno Electric Co., Ltd.
• Qualcomm Incorporated
• STMicroelectronics N.V.
• Mediatek Inc.
• U-Blox Holdings AG
• Skyworks Solutions, Inc.
• Eagle Uav Services
• Misfit Inc.
• Hemisphere GNSS
• Quectel Wireless Solutions Co., Ltd.
• Navika Electronics
• OriginGPS Ltd
• Shenzhen Esino Technology Ltd
• Shenzhen Zhonghe Electronics Co., Ltd
• Dragon Bridge (SZ) Tech Co., Ltd
• VLSI Solution
• Analog Devices Inc
• Fujitsu
• OLinkStar Co., Ltd
• Unicore Communications, Inc
• ATMEL Corporation
Frequently Asked Questions:
1. Which region has the largest share in Global Nano GPS Chip Market?
Ans: Asia-Pacific held the largest share in 2022.

2. What is the growth rate of the Global Nano GPS Chip Market?
Ans: The Global Nano GPS Chip Market is growing at a CAGR of 12.6% during the forecasting period 2023-2029.

3. What segments are covered in Global Nano GPS Chip Market?
Ans: Global Nano GPS Chip Market is segmented into type and application.

4. What is the study period of this market?
Ans: The Global Nano GPS Chip Market is studied from 2022 to 2029.