GPS Ic Market Overview
As per MRFR analysis, the GPS Ic Market Size was estimated at 17.83 (USD Billion) in 2022.The Gps Ic Market Industry is expected to grow from 18.98(USD Billion) in 2023 to 33.2 (USD Billion) by 2032. The GPS Ic Market CAGR (growth rate) is expected to be around 6.41% during the forecast period (2024 - 2032).
Key GPS Ic Market Trends Highlighted
The GPS IC market is experiencing significant growth due to the increasing adoption of GPS technology across various industries. Key market drivers include the rise in demand for location-based services, the growing popularity of connected devices, and the expansion of the automotive sector. Opportunities for exploration lie in the development of high-precision GPS ICs, the integration of GPS with other technologies, and the expansion into emerging markets. Recent trends include the miniaturization of GPS ICs, the adoption of low-power designs, and integration of GPS with inertial sensors. These advancements are expected to continue shaping the market dynamics and drive further growth in the coming years.
Figure1: GPS IC Market, 2018 - 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
GPS IC Market Drivers
Increasing Demand for Location-Based Services
The GPS IC market Industry is primarily driven by the increasing demand for location-based services (LBS). LBS are used in a wide range of applications, including navigation, tracking, and mapping. The growing adoption of smartphones and other mobile devices has led to a surge in the demand for LBS, which in turn is driving the growth of the GPS IC market. Location-based services are becoming increasingly important in a variety of industries, including transportation, logistics and retail.For example, LBS can be used to track the location of vehicles in real-time, which can help to improve efficiency and reduce costs. LBS can also be used to track the movement of goods through the supply chain, which can help to improve inventory management and reduce waste. In the retail sector, LBS can be used to provide customers with personalized offers and discounts based on their location. The increasing demand for LBS is expected to continue to drive the growth of the GPS IC market in the coming years.As more and more devices are equipped with GPS capabilities, the demand for GPS ICs will continue to grow.
Advancements in GPS Technology
The GPS market Industry is also being driven by advancements in GPS technology. These advancements are making GPS ICs more accurate, more reliable, and more power-efficient. As GPS technology continues to improve, it is becoming increasingly valuable for a wide range of applications. One of the most significant advancements in GPS technology in recent years has been the development of multi-constellation GNSS receivers. These receivers can receive signals from multiple GNSS constellations, such as GPS, GLONASS and BeiDou.This provides a number of benefits, including improved accuracy, reliability, and availability. Another important advancement in GPS technology has been the development of low-power GPS ICs. These ICs are designed to consume less power than traditional GPS ICs, which makes them ideal for use in battery-powered devices. The advancements in GPS technology are expected to continue to drive the growth of the GPS IC market in the coming years. As GPS ICs become more accurate, more reliable and more power-efficient, they will become increasingly valuable for a wide range of applications.
Growing Adoption of IoT Devices
The GPS IC market Industry is being driven by the growing adoption of IoT devices. IoT devices are devices that are connected to the internet and can collect and share data. Many IoT devices are equipped with GPS capabilities, which allows them to track their location and share this information with other devices and services. The growing adoption of IoT devices is creating a new demand for GPS ICs. These ICs are essential for enabling IoT devices to track their location and share this information with other devices and services.The growing adoption of IoT devices is expected to continue to drive the growth of the GPS IC market in the coming years. As more and more IoT devices are deployed, the demand for GPS ICs will continue to grow.
Gps Ic Market Segment Insights
GPS IC Market Product Type Insights
The GPS IC Market is segmented by Product Type into Location-Based Services (LBS) ICs, Navigation ICs, Tracking ICs, Geofencing ICs and Time Synchronization ICs. Of these, the Navigation ICs segment accounted for a larger market share in 2023, and the segment is also anticipated to hold the dominant share during the forecast period. Growing demand for accurate and reliable navigation systems is influencing the growth of the segment. The Location-Based Services LBS ICs segment is also anticipated to grow at a higher CAGR owing to the increasing LBS adoption in several applications, including location-based advertising, process controls, tracking and management, automobile safety, and others.The Tracking ICs segment is gaining higher traction owing to the increasing adoption of wearable devices and the growing demand for real-time tracking solutions, with applications in healthcare, sports, and other related systems. The growth of the Geofencing ICs segment, with a moderate growth rate, is driven by the increasing demand for perimeter security and asset-tracking solutions in several applications.
Figure2: GPS IC Market, By Product Type, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gps Ic Market Application Insights
Consumer electronics industry's end use of the application segment in the GPS IC market is poised to hold a significant share of the market, owing to the forecast rise in demand for smartphones, tablets, laptops and personal navigation devices. Production and sales of these consumer electronics are expected to rise in the coming years due to enhanced features such as built-in GPS IC. The automotive industry end use segment is expected to hold a lesser but still significant share of the market since passenger vehicles, commercial vehicles, and 2-wheelers are increasingly being mandated to be fitted with GPS ICs in order to locate, track, and recover stolen automobiles and to ensure passenger safety.Industrial applications, such as asset tracking and fleet management, are likely to drive market growth for the industrial application end use segment, whereas the healthcare end use segment is forecast to increase the market demand for GPS IC by the development of GPS-enabled important medical applications such as patient monitoring and emergency response systems. Defense and aerospace applications, such as military operations, navigation, and situation awareness systems, are anticipated to drive market growth in military and other defense systems.
GPS IC Market Device Type Insights
Device Type Segment Insight and Overview The Device Type segment in the GPS IC Market is expected to witness significant growth in the coming years. Smartphones are projected to dominate the segment, driven by the increasing adoption of location-based services, navigation apps, and ride-sharing services. The Wearable Devices sub-segment is also anticipated to experience substantial growth due to the rising popularity of fitness trackers, smartwatches and other wearable devices that utilize GPS for location tracking and activity monitoring.In-vehicle navigation Systems are expected to maintain a steady growth rate, fueled by the demand for advanced navigation systems in new vehicles. Telematics Devices and Industrial IoT Devices are projected to contribute to the segment's growth as well, owing to the increasing adoption of telematics and IoT solutions in various industries, including transportation, logistics, and manufacturing. The GPS IC Market revenue from the Device Type segment is expected to reach USD 22.5 billion by 2024, driven by the growing demand for GPS-enabled devices across various end-use industries.
GPS IC Market End User Insights
The GPS Ic Market is segmented into various end users such as individuals, businesses, government agencies, military, and first responders. Among these segments, individuals are expected to hold the largest market share due to the increasing adoption of GPS-enabled devices such as smartphones, tablets, and wearable devices. Businesses are also expected to contribute significantly to the market growth due to the adoption of GPS-based solutions for fleet management, asset tracking, and field service management. Government agencies are expected to invest in GPS technology for public safety, defense, and infrastructure development.The military segment is also expected to contribute to the market growth due to the increasing demand for GPS-based navigation and communication systems. First responders are also expected to adopt GPS technology for emergency response and disaster management. Overall, the GPS IC market is expected to grow significantly in the coming years due to the increasing adoption of GPS technology across various end-user segments.
Gps Ic Market Technology Insights
The GPS Ic Market is segmented by Technology into Positioning System (GPS), Navigation Satellite System (GNSS), Assisted GPS (A-GPS), Inertial Navigation System (INS), and Radio Frequency Identification (RFID). Among these, the GPS segment accounted for the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. The growing adoption of GPS technology in various applications, such as navigation, surveying, and tracking, is driving the growth of this segment. The GNSS segment is expected to witness significant growth over the forecast period, owing to the increasing demand for high-accuracy positioning and navigation solutions in various industries.The A-GPS segment is also expected to exhibit substantial growth, driven by the increasing adoption of smartphones and other mobile devices that incorporate A-GPS technology for location-based services. The INS segment is projected to grow at a steady pace, supported by the growing demand for inertial navigation systems in aerospace and defense applications. The RFID segment is expected to witness moderate growth over the forecast period, owing to its increasing adoption in supply chain management, inventory tracking, and asset management applications.
Gps Ic Market Regional Insights
The regional segmentation of the GPS Ic Market offers valuable insights into the market's geographical distribution. North America held the largest market share in 2023, accounting for around 38.4% of the revenue. This dominance is attributed to the presence of major technology companies and the early adoption of advanced technologies in the region. Europe followed closely, with a market share of approximately 31.2%. The region's mature automotive industry and growing demand for navigation systems contribute to its significant share.APAC is projected to witness the highest growth rate during the forecast period, owing to the increasing adoption of smartphones and the expansion of the automotive sector in emerging economies like China and India. South America and MEA represent smaller but growing markets, with their market share expected to expand in the coming years.
Figure2: GPS IC Market, By Regional, 2023 & 2032 (USD billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
GPS Ic Market Key Players And Competitive Insights
Major players in GPS Ic Market are continuously involved in the development of innovative GPS Ic Market products to cater to the evolving needs of the customers. Leading GPS IC market players are focusing on expanding their presence in emerging markets and strengthening their distribution networks to increase their market share. The GPS IC market industry is witnessing a trend of consolidation, with major players acquiring smaller companies to expand their product portfolios and gain access to new technologies. Joint ventures and partnerships are also common in the GPS market industry, as companies seek to leverage the strengths of their partners to gain a competitive advantage. The competitive landscape of the GPS IC market is expected to remain dynamic, with new entrants and innovations continuously shaping the market.A leading company in the GPS Ic Market is Broadcom. The company offers a wide range of GPS Ic Market products, including GPS Ic Market chipsets, modules, and software. Broadcom's GPS Ic Market products are used in a variety of applications, including smartphones, tablets, laptops, and automotive systems. The company has a strong presence in key markets around the world and is well-positioned to continue growing its market share in the coming years.In addition to Broadcom, other major players in the GPS Ic Market include Qualcomm, MediaTek, and Skyworks Solutions. Qualcomm is a leading provider of wireless communication technologies and products. The company's GPS Ic Market products are used in a wide range of devices, including smartphones, tablets, and laptops. MediaTek is a fabless semiconductor company that designs and manufactures a variety of integrated circuits, including GPS Ic Market chips. The company's GPS Ic Market products are used in a variety of devices, including smartphones, tablets, and wearable devices. Skyworks Solutions is a leading provider of analog and mixed-signal semiconductors. The company's GPS Ic Market products are used in a variety of applications, including smartphones, tablets, and automotive systems.
Key Companies in the GPS Ic Market Include
GPS Ic Market Industry Developments
The GPS IC market is anticipated to grow steadily in the coming years, driven by increasing demand for GPS-enabled devices in various applications such as navigation, tracking, and surveying. The market is expected to witness significant growth in the automotive sector, with the rising adoption of advanced driver assistance systems (ADAS) and autonomous vehicles. Additionally, the growing popularity of wearable devices and the increasing use of GPS technology in smartphones and tablets are contributing to the market growth. Key players in the market include Qualcomm, Broadcom, and STMicroelectronics, among others. Recent developments include the launch of new GPS ICs with enhanced accuracy, power efficiency, and integration capabilities. The market is expected to witness continued growth in the future, driven by the increasing adoption of GPS technology in various industries and the development of innovative applications.
Gps Ic Market Segmentation Insights
Gps Ic Market Product Type Outlook
- Location-Based Services (LBS) ICs
- Navigation ICs
- Tracking ICs
- Geofencing ICs
- Time Synchronization ICs
Gps Ic Market Application Outlook
- Consumer Electronics
- Automotive
- Industrial
- Healthcare
- Defense and Aerospace
Gps Ic Market Device Type Outlook
- Smartphones
- Wearable Devices
- In-Vehicle Navigation Systems
- Telematics Devices
- Industrial IoT Devices
Gps Ic Market End User Outlook
- Individuals
- Businesses
- Government Agencies
- Military
- First Responders
Gps Ic Market Technology Outlook
- Positioning System (GPS)
- Navigation Satellite System (GNSS)
- Assisted GPS (A-GPS)
- Inertial Navigation System (INS)
- Radio Frequency Identification (RFID)
Gps Ic Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
17.83(USD Billion) |
| Market Size 2023 |
18.98(USD Billion) |
| Market Size 2032 |
33.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.41% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
NXP Semiconductors, Qualcomm, Infineon Technologies, Broadcom, Analog Devices, Texas Instruments, Rohm, MediaTek, Renesas Electronics, Taiwan Semiconductor Manufacturing Company, Samsung, STMicroelectronics, Sony |
| Segments Covered |
Product Type, Application, Device Type, End User, Technology, Regional |
| Key Market Opportunities |
Next-generation connectivity 5GAdvanced positioningIndoor navigation |
| Key Market Dynamics |
Rising demand for GNSS Miniaturization Integration with other technologies Proliferation of IoT devices Advancements in GPS technologies |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The GPS IC Market is expected to reach USD 18.98 billion in 2023 and is projected to grow at a CAGR of 6.41% to reach USD 33.2 billion by 2032.
Asia Pacific is expected to dominate the GPS IC Market throughout the forecast period due to the increasing demand for GPS-enabled devices in countries such as China, India, and Japan.
GPS ICs are used in a wide range of applications, including navigation, tracking, surveying, and mapping. They are also used in various industries such as automotive, consumer electronics, and industrial.
The key competitors in the GPS IC Market include Qualcomm, Broadcom, STMicroelectronics, u-blox, and Skyworks Solutions.
The growth of the GPS IC Market is driven by the increasing demand for GPS-enabled devices, the growing adoption of IoT devices, and the increasing use of GPS technology in various industries.
The GPS IC Market faces challenges such as the availability of alternative technologies, the high cost of GPS ICs, and the stringent regulatory environment.
The key trends in the GPS IC Market include the miniaturization of GPS ICs, the integration of GPS ICs with other technologies, and the increasing use of GPS ICs in autonomous vehicles.
The GPS IC Market is expected to grow at a CAGR of 6.41% from 2024 to 2032.
The GPS IC Market presents opportunities for growth in the areas of autonomous vehicles, IoT devices, and wearable devices.
The GPS IC Market faces threats from the availability of alternative technologies, the high cost of GPS ICs, and the stringent regulatory environment.
