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

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.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

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:

  • Device Type
  • End Use
  • Region
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
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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

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