With the growing use of technology around the world, satellite navigation systems are becoming increasingly important. One such system is Bei Dou, which is quickly emerging as a leader in this field. In this article, we'll explore what makes Bei Dou unique, its various applications and the market for Bei Dou chips.
Drivers of the Bei Dou Navigation Satellite System Chips Market
The drivers of the Bei Dou Navigation Satellite System Chips Market are as follows:
1. Growing Demand for High-Precision Positioning Services: The Bei Dou Navigation Satellite System (BDS) provides more accurate and reliable positioning services than traditional GPS technologies, which makes it an attractive choice for various applications such as autonomous driving, precision agriculture, and drone navigation. This is driving the demand for Bei Dou chips.
2. Government Support: China’s government has been actively promoting the development of BDS technology and infrastructure, which is helping to boost the adoption of Bei Dou chips in the market.
3. Improved Performance and Low Cost: Bei Dou chips offer improved performance compared to traditional GPS chips while being available at a lower cost, making them attractive to consumers and businesses alike.
4. Expansion of Industrial Applications: The increasing availability and affordability of Bei Dou chips is enabling their use in various industrial applications such as geospatial mapping, surveying, asset tracking, monitoring systems, etc., further spurring market growth.
Advantages of the Bei Dou Navigation Satellite System Chips Market
Some of the advantages of the Bei Dou Navigation Satellite System Chips Market are as follows:
1. Improved Accuracy: The Bei Dou system provides superior accuracy and reliability than other satellite navigation systems, as it provides much higher accuracy in location tracking and guidance. This helps to ensure that the navigation signals are more accurate and reliable for vehicles, ships, and aircraft.
2. Enhanced Performance: The Bei Dou system offers enhanced performance over other satellite navigation systems, with increased data transmission speeds and better signal reception. This helps to improve the performance of different applications such as positioning, navigation, and communication.
3. Cost-Effectiveness: The Bei Dou system is much more cost-effective than other satellite navigation systems, due to its lower power consumption requirements and fewer components needed for building a complete network. This helps to reduce overhead costs associated with operating a satellite navigation system.
4. Multi-region Coverage: The Bei Dou system provides multi-region coverage across Asia Pacific countries such as China, India, Japan, Australia, and more. This helps to make it more widely available for use in various parts of the world.
Market Value and CAGR of the Bei Dou Navigation Satellite System Chips Market (2022-2032)
The market value and CAGR of the Bei Dou Navigation Satellite System Chips Market are expected to reach $2.72 billion and 17% respectively by 2032.
The market is expected to experience significant growth over the forecast period owing to the increase in demand for precision navigation with Bei Dou satellite systems, and increasing government initiatives for Baidoo-enabled GPS applications.
Key players in the Bei Dou Navigation Satellite System Chips Market
The key players of the Bei Dou Navigation Satellite System Chips Market are:
1. Novatel Inc.
2. Raytheon Anschutz GmbH
3. Furuno Electric Co., Ltd.
4. Nevco Technology, Inc.
5. Rockwell Collins, Inc.
6. Kongsberg Maritime AS
7. SST Technology Corporation
8. Thales Group
9. Trimble Navigation Limited
10. Topcon Corporation
Market Analysis into type, application, end user and region of Bei Dou Navigation Satellite System Chips Market
The most demanded product of the Bei Dou Navigation Satellite System Chips Market is expected to be chipsets. Chipsets are the most important components of a receiver and thus they are expected to drive market growth during the forecast period.
the Bei Dou Navigation Satellite System Chips Market is segmented into Automotive, Aerospace & defence, Industrial, Consumer Electronics and Others. The automotive segment is expected to dominate the market in terms of value and volume due to increasing demand for automotive navigation systems. Growing demand for vehicle safety systems such as lane departure warning systems (LDWS) and advanced driver assistance systems (ADAS) is further driving the market for Bei Dou Navigation Satellite System chips.
Based on end users, the Bei Dou Navigation Satellite System Chips Market is divided into government, commercial and personal users. The government sector holds a significant share of this market due to its wide adoption of navigation technologies. This sector uses Bei Dou Navigation Satellite Systems in various applications such as military operations, surveillance and mapping purposes. The commercial sector has also witnessed increased adoption of these chips due to their applications in transportation services like logistics and fleet tracking purposes. The personal user segment includes individuals who use these chips for recreational activities such as location-based gaming and navigation purposes.
Regionally, North America dominates the global Bei Dou Navigation Satellite System due to its availability of technology and companies.
Impact of Covid-19 on the Bei Dou Navigation Satellite System Chips Market
The Bei Dou Navigation Satellite System (BDS) is a Chinese satellite navigation system. It consists of three phases, with the final phase having a total of 35 satellites in orbit. The first two phases of the BDS were completed in December 2011 and December 2012, respectively.
The third and final phase of the BDS was originally planned for completion in 2020 but has been delayed due to the Covid-19 pandemic. The impact of Covid-19 on the BDS has been two-fold. Firstly, the pandemic has caused a delay in the production of BDS chips, as factories in China have been forced to close or operate at reduced capacity. This has led to a shortage of BDS chips, which has driven up prices and made it difficult for manufacturers to obtain enough chips to meet demand. Secondly, the pandemic has also led to a reduction in demand for BDS chips, as many potential customers have put off purchasing decisions due to economic uncertainty.
Despite these challenges, the BDS remains on track to be fully operational by 2025. And while the pandemic has had a negative impact on the market for BDS chips in the short term, it is expected that demand will rebound once the pandemic is over and businesses return to normal operations.
Key developments in the Bei Dou Navigation Satellite System Chips Market
- In January 2020, the China Satellite Navigation Office announced that the Bei Dou Navigation Satellite System (BDS) had achieved full operational capability. This milestone marked the completion of a three-phase development process for the system, which began in 2000.
- The Bei Dou Navigation Satellite System is the world’s only regional navigation satellite system and has been adopted by both civilian and military users worldwide. The system currently consists of 32 satellites providing positioning, navigation, and timing services with accuracies of up to 10 meters.
Bei Dou Navigation Satellite System Chips Market Scope :
|Revenue forecast in 2032
|USD 2.72 Billion
|CAGR of 17% during 2022-2032
|by Type, By Application, End Users, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Novatel Inc., Raytheon Anschutz GmbH, Furuno Electric Co., Ltd. , Nevco Technology, Inc. , Rockwell, Collins, Inc. , Kongsberg Maritime AS . SST Technology Corporation , Thales Group ,Trimble, Navigation Limited , Topcon Corporation
Key Segment of Bei Dou Navigation Satellite System Chips Market
By Type Overview ($ Billion)
• Ordinary Precision
• High Precision
By Application Overview ($ Billion)
• Special (security) Applications
• Civil Industrial
• Mass Consumption
By End-User Overview ($ Billion)
• Manufacturing companies
By Region Overview ($ Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa