WILMINGTON, DE / ACCESSWIRE / June 1, 2023 / Transparency Market Research Inc. - The global 5G Chipset Market is expected to grow at a 14.7% CAGR from 2023 to 2031. A market valuation of US$ 114.4 billion is anticipated by the end of the forecast period.
The implementation of 5G networks significantly improves the efficiency of business applications and various digital services like online gaming, videoconferencing, and self-driving cars. It encompasses multiple 3rd Generation Partnership Project (3GPP) access technologies, including different variants of 5G New Radio (NR). These advantages are expected to generate increased demand for 5G networks, leading to market growth in the coming years.
The next-generation affordable 5G chipset solution is expected to offer enhanced efficiency and performance, unlocking new user experiences and enabling connectivity across different sectors. Additionally, the increasing demand for 5G network infrastructure solutions is driving market growth. These solutions enable the interconnection of emerging industries, leading to improved efficiency and cost reduction, ultimately contributing to the growth of the 5G chipset industry.
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Key Takeaways from the Market Report
- The global 5G chipset market is expected to be worth US$ 37.95 billion as of 2023.
- From 2023 to 2031, the market is expected to grow with a CAGR of 14.7%.
- By type, the radio frequency ICs (RFICs) segment is expected to dominate the market in 2023 by growing at a CAGR of 15% during the forecast period.
- By frequency, the sub-6GHz segment is expected to lead the market by accumulating over 81% market share in 2023. This segment is expected to grow with an impressive CAGR of 15.2% throughout the forecast period.
- Demand for 5G chipset in India is projected to grow at a CAGR of 14.9% during the forecast period.
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5G Chipset Market: Growth Drivers & Trends
- The advent of 5G is set to accelerate the adoption of connected devices in industries driving the fourth industrial revolution (Industry 4.0). This revolution, characterized by IoT and machine-to-machine connections, is boosting cellular connectivity and market growth.
- The proliferation of M2M/IoT connections is expected to generate notable market growth.
- Increasing demand for high-speed internet and vast network coverage is expected to fuel market expansion.
- The rising need for higher mobile broadband operational frequencies is expected to drive the expansion of the 5G chipset market in the forecast period.
5G Chipset Market: Regional Analysis
- The Asia Pacific is expected to dominate the market by accumulating over 37% market share in 2023. The demand for 5G chipsets in the region is expected to grow with a CAGR of 14.8% during the forecast period.
- The growth is attributed to rising 5G smartphone investments in the region. The increasing inclination towards smart manufacturing in emerging economies like China and India is anticipated to boost the adoption of 5G chipset components.
- United States is projected to accumulate over 25% market share in 2023 while growing at a CAGR of 14.5% throughout the forecast period.
- The United States is witnessing significant investments in smart homes, industries, and cities, along with a growing interest in high-graphics online gaming among consumers. The country is also leading in self-driving cars and smart transportation infrastructure. These factors are expected to drive the demand for 5G chipset components in the United States.
- The growth is further fueled by the increasing demand for IoT, M2M communications, mobile broadband, and other emerging applications. Also, the presence of major market players and the country's pioneering role in 5G adoption contribute to the regional market's growth prospects.
Prominent developments in the 5G chipset market domain by key players are as follows:
- MediaTek Inc. launched the Dimensity 8000 and Dimensity 8100 SoCs in March 2022 for high-end 5G smartphones. The Dimensity 8100 features four Arm Cortex-A78 cores clocked at 2.85GHz, and the Dimensity 8000 has four Cortex-A78 cores operating at 2.75GHz.
- In June 2021, Samsung Electronics introduced a new set of chipsets for their latest generation 5G solutions. The chipsets comprise a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, a second-generation 5G modem System-on-Chip (SoC), and an integrated chip known as Digital Front End (DFE)-RFIC. These chipsets are compliant with the 3GPP Rel.16 standard.
- In May 2021, Qualcomm Technologies, Inc. unveiled enhanced features and capabilities for the Qualcomm Snapdragon X65 5G Modem-RF System. The upgrades encompass improved power efficiency and expanded support for wider mmWave carriers
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5G Chipset Market- Key Segments
Type
- Radio Frequency ICs (RFICs)
- System-on-Chips (SoCs)
- Application-specific Integrated Circuits (ASICs)
- Cellular ICs
- Millimeter-wave (mmWave) ICs
Processing Node
- Up to 10 nm
- 11 nm to 28 nm
- Above 28 nm
Frequency
- Sub-6GHz
- 24 GHz to 39 GHz
- Above 39 GHz
Application
- Telecom Base Station Equipment
- Smartphones/Tablets
- Laptops and Computers
- Connected Vehicles
- Connected Devices
- Broadband Access Gateway Devices
- Others (AGVs, UAVs, Robots, etc.)
End-use Industry
- Consumer Electronics
- Industrial
- Automotive & Transportation
- Healthcare
- Media & Entertainment
- Energy & Utilities
- Others (Research & Academia, Agriculture, etc.)
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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