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Global Nano GPS Chip Market was Valued at US$ 5.23 Bn in 2021, Growing at an Estimated CAGR of 15.43% Over the Forecast Period; A Report by Absolute Markets Insights

Published On 25 Apr 2022 05:04 PM


Everything that is small and still serves the purpose becomes a hit. We have witnessed this over the years, right from television sets, computers to smartphones. Almost everything has got smaller and has managed to become more efficient. Nano technology has changed the dynamics of every sector and this is evident from its rising demand. Today nano technology is an integral part of various devices and this drives the growth of the Global nano GPS chip market. The COVID-19 pandemic hindered the growth of the global nano GPS chip market. Its growth graph had a sudden hurdle, which is definitely being taken care of. The companies operating in this market are trying to find a solution to compress the present-day navigation system across the globe.

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The surging demand for GPS chips in asset and fleet tracking is driving the growth of the global nano GPS chip market. Several issues related to theft of vehicles and bicycles also can be kept at bay by integrating nano GPS technology. Along with this, the surging demand for various solutions based on nano-GPS and digitalization is helping this market take giant strides on the path of progress. One of the major issues faced by the global nano GPS chip market is lack of awareness. Despite being accessible and affordable, many industries in developing countries are yet to tap on the technology to reap its benefits. Nano GPS technology is not being promoted and this is definitely one region where the manufacturers need to focus on.

Irrespective of couple of hiccups, the future has exciting things for the Global nano GPS chip market and this is primarily due to the surging demand for wearable devices like smartwatches and health-monitoring devices. These smartwatches are trending in youngsters and several leading companies are manufacturing them.

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Key Takeaways - Global Nano GPS Chip Market

  • On the basis of offering, the services segment of the global nano GPS chip market is forecasted to witness growth at a faster rate. The reason behind this is that the nature of revenue generated by this segment is recurring, which helps the market make constant money.
  • In today’s time, the awareness about animal health has increased and this is why many people are using GPS tags at an extensive rate. Issues like theft can also eliminated through this. Additionally, their health also can be monitored in real-time.
  • The direct distribution channel segment makes most of the money for the global nano GPS chip market as many companies prefer buying products with this technology directly from the manufacturers
  • The region of Asia Pacific is forecasted to witness growth at the fastest rate for the global nano GPS chip market. Countries like China and India have a biggest end user segment. The demand for latest smartphones is high in the region as companies are being able to deliver them at an affordable rate. This immensely contributes to the growth of this market.

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Some of the major players operating in the global nano GPS chip market are listed below:

  • Analog Devices Inc
  • ATMEL Corporation
  • Broadcom Corporation
  • Dragon Bridge (SZ) Tech Co. Ltd
  • Eagle Uav Services
  • Fujitsu
  • Furuno Electric Co., Ltd.
  • Hemisphere GNSS
  • Intel Corporation
  • Mediatek Inc.
  • Misfit Inc.
  • Navika Electronics
  • OLinkStar Co., Ltd
  • OriginGPS Ltd
  • Qualcomm Incorporated
  • Quectel Wireless Solutions Co., Ltd
  • Shenzhen Esino Technology Ltd
  • Shenzhen Zhonghe Electronics Co., Ltd
  • Skyworks Solutions, Inc.
  • STMicroelectronics N.V.
  • U – Blox Holdings AG
  • Unicore Communications, Inc
  • VLSI Solution
  • Other Market Participants

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Global Nano GPS Chip Market

By Offering

  • Products
  • Services

By Application

  • Smartphones/ Tablets
  • Wearables
  • Fleet Management
  • Pet Tracking
  • Asset Tracking
  • Others

By Sales Channel

  • Direct
  • Indirect

By Region

  • North America (U.S., Canada, Mexico, Rest of North America)
  • Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
  • Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
  • Latin America (Brazil, Argentina, Rest of Latin America)  

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Press Release Provided By: Absolute Markets Insights