Nano GPS Chip Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 01/03/2017 -- GPS (global positioning system) was originally developed by the U.S. government for the military. Within a few years, the government allowed their usage by civilians. GPS satellite data usage is free and globally accessible, as long as the device and accompanying software are bought or rented. Nano GPS chip solutions are a pint-sized invention within the broader phenomenon of GPS solutions. The market for nano GPS chips is expected to expand substantially in the future. It is highly competitive and dominated by a few major players.
Nano GPS chips are equipped with features such as a real-time clock, noise amplifiers, surface acoustic waves, a temperature-controlled crystal oscillator, a power management unit, and radio frequency shielding, which contribute to the growth of this technology. It is capable of constant connectivity with improved marginal signal conditions and minimal power consumption. Nano GPS chip tracking devices prevent bike and car thefts, which is a key factor influencing the development of this market.
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Manufacturers have been investing in extensive research and development to find out how to minimize the size of the compact global navigation satellite system module without affecting the product's efficiency, sensitivity, power consumption, and performance. In the near future, sports and racing games techniques are also predicted to trigger the demand for transceiver chips. Individuals who need to keep track of their elderly parents use nano GPS chip trackers as well, which boosts the demand for them. Solar collar GPS trackers are designed for animals such as cattle, dogs, camels, elephants, and horses for wildlife tracking. Government initiatives to protect wildlife are contributing to the usage of this technology. Urban areas, however, have a poor satellite signal, which is either non-existent or severely weakened by meteorological conditions – a significant hindrance for the global nano GPS chip technology market.
In terms of applications, the market is divided into the commercial and industrial categories. Geographically, is it distributed over North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.
Demand for smart, commercial applications is growing. This includes products enabled with tracking solutions such as smart watches, digital cameras, trackers, and wearable devices. The increasing requirement for security systems, wearable products, and tracker devices also plays an important role in propelling the market.
The nano GPS chip technology is anticipated to grow extensively in North America and Asia Pacific, due to the wide employment of new technology in these regions. Developed countries such as the U.S., the U.K, India, China, Korea, Japan, Russia, and Germany are investing considerable capital in research and development in order to become well-equipped to adapt to this technology. The market in Asia Pacific is likely to expand rapidly at a later stage due to the presence of developing nations such as China and India here, which constantly invest in manufacturing electronic products. Hence, the overall nano chip market is projected to evolve significantly.
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It is a fragmented market with a few key players, including Shenzhen Zhonghe Electronics Co., Ltd, Shenzhen Esino Technology Ltd, and Dragon Bridge (SZ) Tech Co., Ltd in China, and OriginGPS in Israel.