Global Nano GPS Chip Market

  • 4100.00 Dollar US$
  • Published date: October 23, 2019
    • Pune, Pune, Maharashtra, India

Global Nano GPS Chip Market was valued US$ XX Bn in 2018 and is expected to reach XX Bn by 2026, at a CAGR of 12.00 % during a forecast period.


 


Global Nano GPS Chip Market


 


Growing penetration of electronic, wearable, and connecting devices across the globe, rising demand for accurate and real-time data, increasing demand for high-speed Internet and network coverage like 4G/5G are some of the prominent factors behind the growth of the global nano GPS chip market. Additionally, increasing demand for digitization and nano GPS chip solutions in industrial application and rise in demand for commercial devices enabled with tracking features are expected to drive the global nano GPS chip market.


 


On the other hand, the requirement of high initial investments is expected to limit the growth of the global nano GPS chip market. The agriculture sector deploys Nano GPS Chip systems in the area of application like tractor guidance, monitoring automatic steering-wheel movements. Furthermore, the farmers have to accept the high price of devices and equipment used for precision farming as an initial investment. The nano GPS chip technology-enabled devices are used in navigation and mapping applications are expensive.


 


Smartphones are expected to hold the dominant position in the global nano GPS chip market. These Chips are extensively used for applications like location-based services (LBS), online games, and mobile geographic information systems (GISs. Smartphones are estimated to share significant growth in the global nano GPS chip market during the forecast period owing to the growing demand in developing countries and the requirement for real-time information pertaining to the exact location of vehicles, individuals, and other assets. The demand for nano GPS chip is increasing owing to the miniaturization of smartphones.


 


A UAV segment is expected to grow at a XX % rate of CAGR during the forecast period. The nano GPS chip is used to deliver precise positioning, the in-vehicle systems are mounted on excavators, dozers, graders, and scrapers, which are used in the construction industry. Nano GPS chip is measured as ideal for navigation applications and also capable of providing real-time information pertaining to the current status of the vehicles and guiding the drivers accordingly.

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