The global nano GPS chip market is expected to have a significant growth during the forecast period. The increase in the manufacturing and consumption of smartphones, and a wide range of application of nano detection chips are the key factors driving the growth of the global nano GPS chip market. Moreover, increased demand for digitization and need of high-performance electronic devices are further augmenting the growth of the nano GPS chip market. Furthermore, the rapid rise in the use of smart phones, constant need of an individual to stay in touch with one another propels the demand of nano GPS chip. Government is also taking initiatives to ensure and protect natural wildlife by driving the use of Nano GPS chip technology. Increasing demand for security system and tracking devices also play an important role in the growth of the nano GPS chip market.
A nano GPS chip is an integrated circuit that is very small where every particle of matter plays a major role. Nano GPS chips are equipped with noise amplifiers, real-time clock, a power management unit, and radio frequency shielding. A nano GPS chip is useful for vehicle navigation that is capable of receiving information from GPS satellite and then accurately calculates the geographical location. Nano GPS chip is capable of connecting other vehicles with the improved marginal signal condition without using much power. Owing to the small size of GPS chip, it can be fabricated in smartwatches and fitness trackers.
The nano GPS chip market is segmented on the basis of type and application. On the basis of type it is segmented by sensitivity and low power whereas, on the basis of application the market is segmented into Tablet, PC, PDA, Smartphones, Digital Cameras and Tracking Devices. Smartphones hold the largest market share as it is used by a large part of the population globally, and is easily accessible to all.
Geographically, North America is the leading nano GPS chip market. Asia-Pacific is the emerging market owing to the adoption of nano GPS chip, supportive government programme, and new product launches with the application of nano GPS chip. However, the lack of skilled labor and sometimes poor signal quality can hinders the growth of the nano GPS chip market.
Leading players of the global nano GPS chip market are Fujitsu, Unicore Communication, Analog Devices, Beijing oLinkStar Co., Ltd., ATMEL Corporation, Infineon Technologies AG, Shenzhen Zhonghe Electronics Co., Ltd, Shenzhen Esino Technology Ltd, Dragon Bridge (SZ) Tech Co., and OriginGPS among others.
Global LED Grow Lights Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation Forecast 2024