Market Scope
The Nano GPS chip market is all set to gain favorable grounds between 2017 and 2023 (evaluation period), believes Market Research Future (MRFR). We will provide COVID-19 impact analysis with the report, detailing the key developments that followed the coronavirus disease outbreak.
Top Boosters and Main Barriers
The COVID-19 impact has resulted in imposition of lockdown, quarantines and travel bans, along with disruption in supply chains; chaos in the stock market; and financial crunch faced by various businesses worldwide. Amid the escalating uncertainty, technology and semiconductor vendors remain focused on their engagement with customers and prospects, long-term investments, and are exploring markets for better stability. Advanced technologies such as the Internet of Things, 5G, intelligent edge and high-performance computing can help the Nano GPS chip market remain resilient despite the novel coronavirus.
Since the advent of SARS-CoV-2, the need for better internet connectivity as well as cheaper priced smart wireless sensor networks has risen exponentially, which work in favor of the Nano GPS Chip Market. The pandemic has also boosted the growth of digitization and the demand for NANO GPS chip solutions across various industries, which could help the market recover in the coming time. The market also stands to profit from the soaring demand for commercial devices that have tracking features. This market is further enriched by the high demand for tablet, smartphones, and various digital devices worldwide.
Furthermore, surge in product innovations along with new launched remain the primary strategies being taken up by the leading firms, which could create lucrative opportunities for the nano GPS chip market. For instance, in July 2020, iQOO launched its latest iQOO U1 featuring the Snapdragon 720G chipset that supports GPS coupled with dual-SIM, micro USB port and 3.5mm audio jack.
Market Segmentation
The nano GPS chip market has been considered for type as well as application.
The types of Nano GPS chips in the market are sensitivity, low power, and more.
The applications of these chips are personal digital assistant (PDA), tablets, personal computers (PC), smartphones, and others. The smartphones segment could possibly take the lead, given the escalating sales of these consumer electronics around the globe. The mounting demand for smart wearable devices as well as tracking gadgets can be another important reason backing the market growth.
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Regional Study
The Nano GPS chip market size has been evaluated with respect to APAC/Asia Pacific, Europe, North America, along with RoW/Rest of the World.
North America currently remains the market leader, with Europe and APAC clinching the second and third spots, respectively. The most profitable markets in North America are identified to be Canada and the U.S., thanks to the frequent technological innovations and the rising consumption of nano GPS chip solutions across diverse industries. With a well-developed IT infrastructure that facilitates quicker implementation of the latest technologies and the increasing spending by manufacturers on research and development for reduction of the chip size can also foster the business growth in the region. The leading manufacturers are vastly focused on enhancing the product’s sensitivity, efficiency, performance and power consumption, which also favors the regional market. Over the coming years, it is expected that the racing games and sports techniques can boost the demand for transceiver chips, which means better higher growth prospects in North America.
The APAC market is steadily expanding backed by the significant contribution of emerging countries like India and China that spend considerably on manufacturing advanced and better featured electronic products. The surge in government initiatives pertaining to wildlife protection also contributes to the rising use of Nano GPS chips in the region.
Renowned Industry Competitors
The contenders competing to gain a higher Nano Gps Chip market share include OLinkStar Co., Ltd. (China), VLSI Solution (Finland), Analog Devices Inc. (U.S.), Fujitsu (Japan), Shenzhen Esino Technology Ltd. (China), OriginGPS Ltd. (Israel), Dragon Bridge (SZ) Tech Co., Ltd (China), Shenzhen Zhonghe Electronics Co., Ltd (China), ATMEL Corporation (U.S.), Unicore Communications, Inc. (China), and more.
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