The smartphone category was the largest contributor to the market, accounting for 75.0% revenue share, in 2016. During the forecast period, it is expected to advance at a 7.2% CAGR to garner $4,121.0 million by 2023.
Owing to the benefits offered by the internet of things (IoT) technology, such as the ease of handling emergency situations, augmented decision making, remote control access, time management, and cost trimming, it is being increasingly adopted by end users. IoT enables data exchange among buildings, vehicles, and other objects across the existing network infrastructure.
Based on application, the GNSS chip market is classified into timing and synchronization, LBS, mapping, surveying, navigation, telematics, and others. The fastest growth in the market is expected by the telematics classification during the forecast period. Therefore, the market has a bright future due to the wide application area of these chips.
- Personal Navigation Devices (PNDs)
- In-Vehicle Systems (IVSs)
- Others (Phablets, Wearable Devices and Digital Camera)