Taiwan: According to data released by European GNSS Agency (GSA), the total market value of GNSS-enabled devices is expected to grow from EUR 133 billion to EUR 167 billion in 2012, and EUR 244 billion by 2020.
According to the GSA, road and LBS (location based services) will become the two market sectors with the highest revenue generated from 2010 to 2020, accounting for 56.4 percent and 42.8 percent of the total revenue during this period, respectively.
The road segment includes personal navigation devices and in-vehicle systems, while the LBS segment includes GNSS-enabled mobile phones and services, the agency reported.
Pascal Viaud, co-chair of the European Chamber of Commerce Taipei’s (ECCT) Technology Committee said, “Taiwan has a strong position in electronics and micro-electronics manufacturing. It also has an integrated supply chain of electronics with China and “go-to-market” expertise in the Greater China area”.
A total of 18.06 million cars were sold in China in 2010, and the annual growth of the China automobile market is forecasted at 12 percent to 15 percent in the coming years, according to the GSA.
The penetration rate of electric vehicles, which include telematics components and systems, will increase from less than 0.5 percent in 2014 to over 6.5 percent in 2020, indicating a lot of business opportunities in the Chinese GNSS-enabled device market, the agency predicted.
Source: Focus Taiwan