Multi Gnss Receiver Chips Market to Register a Healthy Cagr 2030

Multi GNSS receiver chips process the signals broadcasted by multiple GNSS satellites to provide accurate user location, velocity, and precise time data. It also enables accurate positioning tracking of the devices. The features of GNSS receiver chips such as simultaneous tracking of line-of-sight and multiple reflections from each satellite results in a significant improvement in its ability to mitigate urban multipath, thus, offering a smooth navigation experience.

Multi GNSS Receiver Chips Market size was valued at USD 4,715.88 Million in 2021, registering a CAGR of 6.5% during the forecast period (2022-2030), and the market is projected to be worth USD 8,026.74 Million by 2030.

The market is driven by the increasing demand for accurate and reliable location-based services (LBS). LBS has become an integral part of various applications, including navigation, tracking, and mapping, which require precise location data.

Moreover, the rising adoption of wearable devices such as smartwatches, fitness trackers, and healthcare devices is also driving the market. These devices use Multi GNSS Receiver Chips to provide location-based services and track activities such as running, cycling, and swimming.

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Market Segment:

By Type

·         GPS/GNSS Receiver Chip

·         GPS/GNSS Receiver Module

By Frequency

·         Single Frequency

·         Dual Frequency

By Application

·         Camera

·         On-Board System

·         Outdoor Navigation Equipment

·         Smart Phone

·         Tablet

·         Wearable System

By End-Users

·         Automotive

·         Consumer Electronics

·         Aviation

The report includes a regional analysis and country analysis with the latest trends, along with the major key players including-

Broadcom, Furuno Electric, Huada Beidou, MediaTek Inc., Qualcomm Technologies, Inc., STMicroelectronics, U-blox, Wuhan Mengxin, Zhongke Microelectronics, Allystar Technology Co. Ltd.

The Asia-Pacific region is expected to witness the highest growth rate in the Multi GNSS Receiver Chips market during the forecast period. The growth is attributed to the increasing adoption of smartphones and wearables, especially in countries like China and India.

The Multi GNSS Receiver Chips market Outlook is expected significantly over the next few years in market growth segments in the industries and provide the users with a valuable market overview and insights to help them make strategic decisions for identifying core market applications.

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