Beidou Navigation Satellite System Chips Market REPORT OVERVIEW
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The global beidou navigation satellite system chips market size is predicted to value at USD 393.53 million in 2021 and market is expected to reach 6633.19 million by 2031, exhibiting with a compound annual growth rate (CAGR) of 32.64% during the forecast period.
Beidou navigation satellite system chips are excellent navigation systems that provide highly precise navigating facilities to the users. It is used in surveying, autonomous driving, and mapping applications. It is a 22-nanometer chipset that is used extensively in satellites to drastically improve the navigation process. It can detect ghost areas and prevent signal loss. It is widely used in several defense applications because of its ability to provide signals in challenging environments and improve precision. It is used in automobiles, robots, and drones because of its excellent navigation system.
The satellite chips are used by Samsung and Huawei to provide excellent navigation to users. A rising focus on the development of advanced 5G infrastructure is expected to boost investments in advanced navigation chipsets. Beidou navigation satellite system chips are used in several civil engineering applications to get accurate details of a building by deploying drones using the chipset. Therefore, these factors may influence the progress of the beidou navigation satellite system chips market.
COVID-19 Impact: Chipset Shortage and Lack of Semiconductor Production to Hinder Market Progress
The COVID-19 pandemic has negatively affected various markets across the globe. The world is facing a massive chipset shortage because of the lack of manufacturers and a halt on production and transport. The allotment of chipsets to consumer electronics has negatively affected the production of chipsets for defense, navigation, and other systems. The lack of supply and lower sales are expected to hinder industry growth. The lack of raw materials and components required to manufacture advanced 22 nm chipsets is expected to adversely affect sales. However, relaxations and governments' investments in the production of beidou navigation systems are likely to influence growth. Manufacturers adopt production machinery, reduced capacities, and part-time shifts strategies to improve their operations and recover losses. The increasing demand for the system from the defense sector is expected to bolster sales. These factors may support the growth of this market during the pandemic.
LATEST TRENDS
"Development in 5G Infrastructure to Foster Market Growth"
Significant development of 5G infrastructure by governments globally is responsible for beidou navigation satellite system chips rising demand globally. Its incorporation in smartphones and automobiles is expected to boost its sales. Growing demand for high data speeds and increased travel activities have led to the adoption of advanced chipset and navigation systems that improve navigational systems. It is used in several drones for mapping solutions. A drone accurately gathers information regarding the surroundings and provides excellent navigation to drivers. It is used extensively in commercial vehicles such as trucks to safeguard drivers and goods. It provides precise directions to avoid accidents and successfully transports drivers to their destinations. The evolving consumer lifestyles and the adoption of high-quality electronics are expected to boost its adoption in smartphones. Companies such as Huawei, Xiaomi, Oppo incorporate advanced Beidou navigation in their smartphones to provide excellent navigation to their consumers.
The rapid adoption of 5G devices and modems is likely to foster the demand for Beidou systems in consumer electronics and automotive. The substantial demand for the navigation chipset system from aerospace & defense, drone manufacturing, and robotics is expected to fuel the growth of the beidou navigation satellite system chips market.
Beidou Navigation Satellite System Chips Market Segmentation
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- By Type Analysis
By type, the market is segmented into high precision and ordinary precision.
High precision is the leading segment because of the rising demand for highly precise navigation systems. It is used in commercial vehicles and defense applications because of beidou navigation satellite system chips' accuracy and reliability. Additionally, its incorporation in aerial drones is expected to boost the market growth.
- By Application
Based on application, it is divided into Special (security) Applications, Civil Industrial, Mass Consumption.
The defense application is the leading segment because of its efficiency to detect locations and subjects at long distances. It improves security, enhances navigation, and enables military forces to travel safely. It improves nighttime visibility and enables UAVs to detect hidden enemy base camps efficiently. These factors may influence the growth of the beidou navigation satellite system chips market.
DRIVING FACTORS
"Robust Demand from Defense Sector to Bolster Industry Growth"
Beidou navigation satellite system chips' rising demand from the defense sector is expected to bolster its sales drastically. It accurately detects subjects within a range of approximately 33 meters and provides accurate data to the defense sectors regarding enemy movement. It maps accurate data and provides users with advanced directions. It enhances the detection of movement patterns, changing terrains, and subject detection to enable forces to reach a destination with accuracy. It is used extensively by China to provide accurate navigation solutions to its forces. It improves travel during the night and prevents accidents and attacks. It is a highly efficient system that is used in unmanned aerial vehicles UAV systems to detect, monitor, and analyze base camps. It increases visibility and provides excellent protection against attacks, which, in turn, is expected to propel market growth.
"Rising Adoption of the Navigation System in Smartphones to Bolster Market Growth"
The rising adoption of beidou systems in smartphones is expected to boost its demand drastically. It is used by original equipment manufacturers (OEMs) such as Oppo, Xiaomi, and Huawei because of its efficiency and accuracy as compared to GPS systems. It utilizes advanced satellite pattern detection to improve navigation systems and boost operational efficiency. The rising demand for advanced navigational systems is expected to boost its demand from several industries globally. The incorporation of advanced systems is expected to bolster the product's demand drastically. It is a reliable option as compared to alternative solutions and boosts the accuracy exponentially. Rapid digitization and 5G development in China are expected to boost the product's demand drastically. These factors may drive the beidou navigation satellite system chips market growth.
RESTRAINING FACTORS
"Higher Investments and Availability of Alternative Resources to Impede Market Growth"
Higher Investments and related to beidou navigation satellite system chips' incorporation in automobiles and smartphones is expected to reduce its demand from small manufacturers. Further, the adoption of alternative navigation services such as GPS, GLONASS, and others is expected to reduce sales. These factors are likely to hamper the market growth drastically.
Beidou Navigation Satellite System Chips Market REGIONAL INSIGHTS
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"Rapid Adoption of the Navigational System in China to Boost Market Growth in Asia-Pacific"
Regionally, the market is segmented into Europe, North America, Latin America, Asia-Pacific, and the Middle East & Africa.
Asia Pacific is expected to dominate the beidou navigation satellite system chips market share because of the rising adoption of the navigation chipset in China. Beidou navigation satellite system's adoption in smartphones, automotive, and defense applications is expected to boost its sales. The development of 5G infrastructure and rising transport activities is expected to increase its adoption in the electronics sector. Several manufacturers are expected to incorporate beidou navigation chipset in their smartphones because of its accuracy. The incorporation of the chipset in aerial drones is expected to boost its demand from the civil industry. These factors are likely to foster market growth.
North America is expected to hold the second-largest market share because of the presence of developed digital infrastructure in the U.S. The rapid adoption of advanced self-driving cars and the incorporation of artificial intelligence technologies are expected to provide users with real-time location data. Its rising demand from the defense, automotive, and construction industries is likely to boost the growth of the industry.
In Europe, the emergence of several semiconductors manufacturing industries is expected to increase beidou navigation satellite system chips' demand. The adoption of the technology in commercial vehicles such as touring vehicles is expected to facilitate its demand. These factors can influence growth in the industry.
KEY INDUSTRY PLAYERS
"Companies Incorporate Advanced Technologies to Increase Adoption and Reinforce their Stance "
The prominent companies operating in the market incorporate advanced software technologies such as artificial intelligence (AI) and machine learning (ML) technologies to improve their product's responsiveness and provide real-time updates of a subject or location. This strategy enables companies to improve their navigational data management function and improve responsiveness, which, in turn, may help them reinforce their stance. Further, the incorporation of research and development enables manufacturers to develop high-quality silicone chipsets that boost the product's detection capability and range. This strategy can improve their brand image. Additionally, the incorporation of expansion strategies allows companies to reach new markets and satisfy their navigational requirements.
List of Market Players Profiled
- Unicorecomm
- Wintec
- Techtotop
- Ublox
- RunXin Information Technology
- Huatek
- Hwa Create
- Raco
INDUSTRY DEVELOPMENT
- August 2020: Pakistan Armed Forces announced the incorporation of China's BeiDou navigation system for civil and military applications.
REPORT COVERAGE
The report highlights the top segments and the latest market trends. It comprehensively studies the impact of COVID-19 and the driving and restraining factors. This report observes the strategies devised by the major players and the regional developments. Additionally, it informs the readers regarding the factors that are responsible for the progress of the industry.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 393.53 Million in 2021 |
Market Size Value By |
US$ 6633.19 Million by 2031 |
Growth Rate |
CAGR of 32.64% from 2021 to 2031 |
Forecast Period |
2022-2031 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the beidou navigation satellite system chips market size expected to touch by 2031?
Based on our research, the global beidou navigation satellite system chips market size is expected to reach 6633.19 million by 2031.
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What CAGR is the beidou navigation satellite system chips market size expected to exhibit by 2031?
The beidou navigation satellite system chips market size is expected to exhibit a CAGR of 32.64% during the forecast period.
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Which are the driving factors of the beidou navigation satellite system chips market?
Robust demand for the navigation system from the defense sector and its rising adoption of smartphones are the driving factors of this beidou navigation satellite system chips market.
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Which are the top companies operating in the beidou navigation satellite system chips market?
Unicorecomm, Wintec, Techtotop, Ublox, RunXin Information Technology, Huatek, Hwa Create, and Raco are the top companies operating in the beidou navigation satellite system chips market.
