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Report Overview
The global GNSS IC market reached around USD 209.30 Billion in 2023. The market is projected to grow at a CAGR of 10.20% between 2024 and 2032 to reach nearly USD 501.65 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The aviation sector contributes $3.5 trillion, accounting for 4.1% of the global gross domestic product.
- In 2023, the global automotive market experienced a significant surge, with vehicle sales witnessing a remarkable increase of 10.9%.
- It is anticipated that the total count of active IoT devices will surpass 25.4 billion by the year 2030.
Global GNSS IC Market Growth
The demand for air transport is projected to grow at an average rate of 3% annually over the next two decades. If this anticipated growth materialises, the air transport sector could contribute $1.7 trillion to the global GDP by 2038. The flourishing aviation sector and rising demand for air travel are significantly propelling the necessity for GNSS IC. As air traffic volumes rise and evolve, the need for precise navigation and real-time data becomes essential for effective flight management and safety. GNSS IC plays a vital role in sophisticated avionics systems, offering accurate positioning, collision avoidance, and improved communication capabilities. This demand is further amplified by technological advancements in aircraft, such as autonomous systems and next-generation air traffic control, which require high-performance GNSS solutions to guarantee reliability, safety, and operational efficiency in the rapidly expanding aviation sector.
In 2023, global car sales reached nearly 90 million units, an increase from 81 million in 2022, marking the highest figure since 2019. In China, auto sales climbed to 30.1 million units, reflecting an 11.9% rise compared to the previous year. The four largest European markets Germany, France, Italy, and Spain also experienced growth in new passenger registrations, with France, Italy, and Spain each reporting increases exceeding 16%. The growing demand for vehicles, especially those featuring advanced navigation and safety technologies, is a significant factor propelling the market. Contemporary vehicles are increasingly integrating GNSS technology to provide accurate navigation, real-time traffic information, and driver-assistance capabilities.
Compound Annual Growth Rate
Value in USD Billion
10.2%
2024-2032
GNSS IC Market Outlook
*this image is indicative*
Key Trends and Developments
Increasing adoption of navigation systems, expansion of the automotive sector, rising demand for enhanced connectivity, and proliferation of IoT devices are the major trends impacting the global GNSS IC market expansion
Expansion of the Automotive Sector
The rapid advancement of technology in the automotive sector has led to the development of sophisticated driver-assistance systems (ADAS) and self-driving vehicles. These innovations are designed to enhance the driving experience, improve safety, and reduce the likelihood of accidents.
Rising Demand for Consumer Electronics
The increasing popularity of GPS-enabled consumer electronics, such as fitness trackers and smartwatches, is significantly driving the growth of the market. As more consumers seek devices that offer precise location tracking and navigation capabilities, the demand for GNSS technology is surging.
Increasing Demand for Data Accuracy and Improved Connectivity
The increasing demand for enhanced connectivity and the necessity for real-time data access across various sectors are driving significant advancements in GNSS integrated circuit technology. As sectors such as transportation, agriculture, logistics, telecommunications, and smart cities evolve, they require more precise and reliable positioning and timing information to optimise their operations.
Expansion of IoT Applications
The rapid proliferation of IoT devices is significantly reshaping various sectors and urban environments. Among these devices, tracking systems and smart city solutions are particularly noteworthy, as they rely heavily on accurate location data to function effectively. This growing reliance on precise positioning has led to a heightened demand for GNSS IC.
Global GNSS IC Industry Segmentation
The EMR’s report titled “Global GNSS IC Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Device Type
- Smartphones
- Tablets and Wearables
- Personal Tracking Devices
- In-vehicle Systems
- Drones
- Others
Breakup by End Use
- Automotive
- Consumer Electronics
- Aviation
- Others
Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global GNSS IC Market Share
Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is projected to grow at a CAGR of 11.8% between 2024 and 2032 due to the robust growth of the aviation and automotive sectors in the region.
Leading Companies in the Global GNSS IC Market
Major players are focusing on the adoption of advanced technologies to gain a competitive edge in the market.
- MediaTek Inc.
- Qualcomm Inc
- Broadcom Inc.
- STMicroelectronics NV
- Intel Corporation
- Sony Group Corp.
- u-blox AG
- Furuno Electric Co., Ltd.
- Quectel Wireless Solutions Co., Ltd.
- Skyworks Solutions, Inc.
- Others
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 209.30 Billion.
The market is assessed to grow at a CAGR of 10.20% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024 -2032 to reach about USD 501.65 Billion by 2032.
The market is being driven by the increasing adoption of navigation systems and rising demand for consumer electronics.
The key trends aiding the market expansion include the rapid proliferation of IoT devices and the expansion of the automotive sector.
The major end uses of GNSS IC in the market are automotive, consumer electronics, and aviation, among others.
The major regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major players in the market are MediaTek Inc., Qualcomm Inc, Broadcom Inc., STMicroelectronics NV, Intel Corporation, Sony Group Corp., u-blox AG, Furuno Electric Co., Ltd., Quectel Wireless Solutions Co., Ltd., and Skyworks Solutions, Inc., among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Device Type |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
|
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