What is the global market size of 5G Chipset Market?

5G Chipset Market size was valued at USD 16.04 billion in 2021 and is poised to grow from USD 19.28 billion in 2022 to USD 92.05 billion by 2030, growing at a CAGR of 21.8% in the forecast period (2023-2030).

Who are the key vendors in the Global 5G Chipset Market?

In terms of the competitive landscape, a few companies have dominated this market due to their strong product portfolios and key strategic decisions. To strengthen their position in the market for 5G chipsets, companies are employing a variety of strategies, including new product development and strategic collaborations. Simultaneously, key smartphone manufacturers, such as Apple Inc., are focusing on vertical integration to expand their product portfolios with 5G-enabled devices. Market incumbents are focusing aggressively on developing new and innovative products, expanding overall product portfolios, and gaining a significant market share. 'Qualcomm Technologies, Inc.', 'Samsung Electronics Co., Ltd.', 'MediaTek Inc.', 'Intel Corporation', 'Xilinx Inc.', 'Infineon Technologies AG', 'Huawei Technologies Co. Ltd.', 'Broadcom Inc.', 'Qorvo Inc.', 'Nokia Corporation', 'Ericsson AB', 'Fujitsu Limited', 'Analog Devices Inc.', 'Murata Manufacturing Co., Ltd.', 'NXP Semiconductors N.V.', 'Marvell Technology Group Ltd.', 'Texas Instruments Inc.', 'ZTE Corporation', 'Renesas Electronics Corporation', 'Unisoc Communications Inc.'

What is the key driver of Global 5G Chipset Market?

The speed and reliability of 5G are expected to have a significant impact on machine-to-machine (M2M) and Internet of Things (IoT). Better connectivity for smooth communication and low power requirements are key reasons for the increased adoption of new M2M technologies. To achieve effective M2M communication, mobile networks' existing capacity must be able to handle billions of nodes that are expected to ascend in the coming years. The network capacity is currently insufficient to handle M2M and human-based communications, as well as their various communication patterns such as latency time. As a result, a next-generation cellular network for mobile communication is required, with hyper-connectivity and increased bandwidth (e.g., 5G network). M2M communication technology will be widely used in heavy manufacturing and process industries (e.g., food industries) to improve process efficiency and reduce human interference with machines. As a result, M2M communication is expected to drive the 5G chipset market.

What is the key market trend for Global 5G Chipset Market?

Intelligent cities and smart infrastructure are vital aspects of IoT applications. As organizations already utilize IoT to monitor equipment efficiency, the tendency to use IoT is likely to also increase requirements for 5G chipsets.

Which region accounted for the largest share in Global 5G Chipset Market?

The Asia Pacific region held the highest share of global 5G chipset market in 2021. As a result, 5G smartphone investments have grown in the region. Over the forecast period, the growing preference for smart manufacturing in emerging economies such as China and India is expected to drive the adoption of 5G chipset components.

5G Chipset Market Size, Share, Growth Analysis, By Type(Modems, and RFICs), By Operating Frequency(Sub-6 GHz, and 24-39 GHz), By End-User(Telecommunication Infrastructure (Macro Cells, Small Cell, Customer Premises Equipment (CPE)), Mobile Devices (Smartphones), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45I2067 | Region: Global | Published Date: June, 2024
Pages: 162 | Tables: 121 | Figures: 77

5G Chipset Market Insights

Global 5G Chipset Market size was valued at USD 16.04 Billion in 2022 and is poised to grow from USD 19.54 Billion in 2023 to USD 94.63 Billion by 2031, growing at a CAGR of 21.8% in the forecast period (2024-2031).

The widespread use of high-speed internet and increasing adoption of communication technologies are some of the major growth drivers affecting the adoption of 5G networks in automobiles, smart cities and healthcare sector. Increased use of communication connected cars, connected devices, smartphones and tablets further contribute to the growth of the market.

The rise, adoption and rollout of 5G smartphones across the globe is driving the demand for 5G chipsets. According to the GSMA’s The Mobile Economy 2023 report, 5G adoption is expected to increase due to the deployment of cheaper devices and new networks. By January 2023, there were around 229 commercial 5G networks across the globe, with more than 700 5G smartphone models launched, including more than 200 in 2022. Thus, with the growing number of 5G smartphone launches worldwide, the demand for 5G chipsets is expected to rise between 2024 and 2031.

US 5G Chipset Market is poised to grow at a sustainable CAGR for the next forecast year.

5G Chipset Market Report Snapshots

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The 5G chipset market is characterized by fierce competition as companies seek to take advantage of the rapid deployment of 5G technology worldwide. Samsung Exynos is also a very important part of the market in Asia, especially because of its Asia base. Huawei, which is known for its Kirin chipsets, even though it is facing international trade bans, continues in the process of developing its innovation. The 5G solutions that Intel are devoted to the markets of infrastructure and data centre. 'Qualcomm Technologies, Inc. (US) ', 'MediaTek Inc. (Taiwan) ', 'Samsung Electronics Co., Ltd. (South Korea) ', 'Qorvo Inc. (US) ', 'Huawei Investment & Holding Co. Ltd. (China) ', 'Xilinx Inc. (US) ', 'NXP Semiconductors N.V. (Netherlands) ', 'Marvell Technology Group (US) ', 'Skyworks Solutions, Inc. (US) ', 'Texas Instruments Incorporated (US) ', 'Murata Manufacturing Co., Ltd. (Japan) ', 'Renesas Electronics Corporation (Japan) ', 'Infineon Technologies AG (Germany) ', 'MACOM (US) ', 'U-blox (Switzerland) ', 'Sivers IMA (Sweden) ', 'Unisoc (Shanghai) Technologies Co., Ltd. (China) ', 'Cadence Design Systems, Inc. (US) ', 'Fibocom Wireless Inc. (China) ', 'Quectel (China)'

The demand for high-speed and low-density internet connections has been on the rise for the past decade. This increases the need for high-speed Internet connections, and faster data rates motivate the use of 5G network technology. All 5G technologies for smartphones and connected devices the performance is improved. For example, in October 2022, Telecom Talk, a conversation about telecommunications, released a research report. According to its report, the average smart device user spends 312 minutes/day on 5G smart devices in the U.S., which is 37 minutes/day more than 4G smart device users.

Increasing Use of Innovative Devices Across Verticals in Various Industries Is Driving the Market Expansion: Over the past two decades, various brands have shifted their businesses to digital platforms. So, digitizing all industry verticals is one of the top priorities. This digitization includes the use of state-of-the-art high-tech technologies such as the internet of industrial things, industrial automation and artificial intelligence. The ease in use of advanced technologies requires fast and seamless internet connectivity, which can be enabled with 5G to enable chipsets. Furthermore, these 5G processors and chipsets are widely used for real-time communication of vehicle-to-vehicle and pedestrian communication in hybrid and electrically connected vehicles. Moreover, 5G chipsets are widely used in manufacturing for better communication between brands and device manufacturers. These constant uses of chipsets are driving the global market.

Asia-Pacific dominated the marketplace, with a proportion of 41.20% in 2023. This is because of rapid increase in excessive-pace connectivity and the substantial adoption of advanced technologies which include IoT, AI and cloud computing and 5G chipsets use. This trend is driving the boom of new programs in areas such as city a smart, health, schooling and transportation. Additionally, Asia-Pacific has many main producers of 5G chipsets, which drives innovation and competitiveness inside the local marketplace.

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5G Chipset Market Insights

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What is the global market size of 5G Chipset Market?

Who are the key vendors in the 5G Chipset Market?

What is the key driver of 5G Chipset Market?

What is the key market trend for 5G Chipset Market?

Which region accounted for the largest share in 5G Chipset Market?

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