Nano GPS Chipset Market — Projected to Expand at a CAGR of 12.02% from 2018 to 2

Posted by RASHMI on May 29th, 2019

According to a new market research report published by Transparency Market Research titled ‘Nano GPS Chipset Market (Sensitivity: −165 dBm & Above and Below −165 dBm; Application: Smartphones, Wearables, UAVs, Asset Tracking, Personal Digital Assistants, Automotive, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ the global Nano GPS chipset market is expected to reach value of US$ 1,221.3 Mn by 2026.

The market is projected to expand at a CAGR of 12.02% from 2018 to 2026. According to the report, the global market is expected to continue to be influenced by rising popularity of GPS tracking devices and increasing demand for smartphones across the globe. North America is projected to lead the global market, with the market in the region expanding at a CAGR of above 11.40% between 2018 and 2026.

Recently, GPS tracking devices are increasingly becoming popular, as they are being used for asset tracking. GPS trackers are being used to track assets by their owners; to track vehicles by fleet operators; and also to track individuals and other tracking objects.

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Various chipset manufacturers are investing significantly in R&D activities for development of miniature GPS chipsets, as they consume low power. They can be used for applications wherein space is a constraint, for example, wearable devices. Also, various manufacturers of GPS trackers are introducing innovative miniature products. For instance, in February 2017, a startup introduced a GPS tracking device called ‘Ping,’ which is meant for tracking of vehicles, kids, pets, and other assets.