Global GNSS chips market to reach $8 bn by 2030

The global market for GNSS Chips estimated at US$5.5 Billion in the year 2022, is projected to reach a revised size of US$8 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2022-2030, according to Research And Markets.

Smartphones, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$6.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Tablets segment is readjusted to a revised 4.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 4.6% CAGR

The GNSS Chips market in the U.S. is estimated at US$1.6 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$1.4 Billion by the year 2030 trailing a CAGR of 4.6% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.

CT Bureau