Nano Gps Chip Market Analysis
The Nano GPS chip market size is predicted to touch USD 94.41 billion at a 15.86% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. GPS chips offer users with time data and instantaneous location anywhere on earth. Nano GPS chips are an innovation in the ample variety of GPS solutions. They are so tiny that they easily fit into currency notes but go unnoticed. These chips are equipped with alluring features like a radio frequency shielding, power management unit, temperature-controlled crystal oscillator, surface acoustic waves, noise amplifiers, and real-time clock. Lower power, sensitive, and others are the different types of Nano GPS chips and have wide applications in personal computers (PC), smartphones, personal digital assistant (PDA), tablets, and others.
Various factors are propelling the global nano GPS chip market share. According to the recent MRFR report, such factors include burgeoning demand for such solutions, rising adoption in different verticals, and increasing demand for digitalization of business operations.
On the contrary, the impact of the COVID-19 pandemic may limit the global nano GPS chip market growth over the forecast period.
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Nano Gps Chip Market Key Players
Eminent contenders profiled in the global Nano GPS chip market report include ATMEL Corporation (U.S.), Unicore Communications, Inc. (China), OLinkStar Co., Ltd. (China), Fujitsu (Japan), Analog Devices Inc. (U.S.), VLSI Solution (Finland), Dragon Bridge (SZ) Tech Co., Ltd (China), Shenzhen Zhonghe Electronics Co., Ltd (China), Shenzhen Esino Technology Ltd. (China), and OriginGPS Ltd. (Israel), among others. Industry players have incorporated several strategies to remain at the forefront and also cater to the consumer's burgeoning needs such as partnerships, joint ventures and collaborations, mergers and acquisitions, new product launches, extensive research & development activities, novel product developments, contracts, strategic alliances, geographic expansions, and others.
Nano Gps Chip Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global Nano GPS chip market based on application and type.
By type, the global Nano GPS chip market is segmented into lower power, sensitive, and others. Of these, the sensitive segment will lead the market over the forecast period at a high CAGR due to the growing demand for high accuracy applications.
By application, the global Nano GPS chip market is segmented into personal computers (PC), smartphones, personal digital assistant (PDA), tablets, and others. Of these, smartphones are predicted to dominate the market over the forecast period.
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Nano Gps Chip Market Regional Analysis
By region, the global Nano GPS chip market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Among these, North America is predicted to have the lions share in the market over the forecast period with Canada and the US having the utmost share. The presence of several key players, the presence of well-established and sustainable economies, well-established infrastructure, higher penetration of devices, and availability of better connectivity are adding to the global Nano GPS chip market growth in the region.
The global Nano GPS chip market in the APAC region is predicted to grow at a fast pace over the forecast period. Burgeoning demand for such solutions across various industry verticals across various countries are adding to the global Nano GPS chip market growth in the region.
The global Nano GPS chip market in Europe is predicted to have sound growth during the forecast period and in the Rest of the World is predicted to have steady growth over the forecast period.