5G Chipset Market to Grow at a CAGR of more than 21.8% until 2028
Growing deployment of 5G
infrastructure and proliferation of IoT and connected devices are expected to increase the
demand for 5G Chipset Market during the forecast period of 2024-2028.
According to TechSci Research report, “5G Chipset Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast 2018–2028”, the Global 5G Chipset
Market is expected to register a robust growth during the forecast period,
2024-2028. The 5G Chipset
Market is expected to increase in coming years owing to the rising demand for
high-speed data services, developing smartphone technologies, and government
initiatives for smart cities along with the partnerships among key players for
the proliferation of 5G deployment.
Moreover, various telecommunication
companies are investing in deploying a 5G network infrastructure to provide
high speed for their customers all across the globe, led to the widespread adoption
of 5G enabled devices across the globe, which would subsequently increase the
demand for 5G chipsets over the forecast period.
The growing
penetration of internet services in education, entertainment and health
monitoring is driving the demand for smartphones in the global market. To fulfil
these services unimpeded, several technological companies such as Fujitsu,
Broadcom and Qualcomm are investing in 5G technology which ultimately increases
the demand for 5G Chipsets globally.
Furthermore,
the prices of 5G smartphone chipsets are likely to be more expensive as
compared to 4G ones. Therefore, its high cost is one of the factors that hinders
the growth of Global 5G Chipset Market.
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"5G Chipset Market "
Global
5G Chipset Market is segmented into IC Type, Operational Frequency, Deployment
Type, Industry Vertical, and region.
On the basis of IC, the ASIC
segment is expected to be dominant in the Global 5G Chipset Market because ASIC
can offer lowering electricity supply cost, greater performance, and also
reduce the footprint of materials and increased reliability. Moreover, ASIC
offers higher security and proves to be cheaper than implementing design using
FPGA.
Furthermore, companies can
significantly lower their bill of materials and enhance the performance of
their 5G chipsets by adding an ASIC. In addition to being less expensive, an
ASIC-based product requires fewer electronic components and is easier to
manufacture. As fewer component vendors are involved in the creation of the
product thanks to the use of ASICs in 5G chipsets, production planning and
purchasing are also made easier. As a result of all these advantages provided
by ASIC, there is a growth in the demand for 5G chipsets and ASIC.
On the basis of industry
vertical, the consumer electronics and industrial automation are the prominent
segment in the Global 5G Chipset Market. The rise in demand for consumer
electronics such as smart televisions, smartphones, and other electronics
offers lucrative opportunities for the 5G chipset market, globally.
Additionally, due to shorter
product and company lifecycles and high business volatility, manufacturing organizations
worldwide are under a lot of strain. As the workforce ages and components
become more diverse and difficult to manufacture, profit margins are being
squeezed. The 5G network and the Internet of Things (IoT) are projected to
improve the business issues related to industrial automation. The improved
network gives manufacturers the chance to develop smart factories and make use
of cutting-edge technologies such as automation, augmented reality, machine
learning, and artificial intelligence (AI).
On the basis of regional analysis, North
America is expected to dominate the Global 5G Chipset Market owing to the high
rate of adoption of advanced technologies in the market. The development of
smart cities, smart industries, and smart households are all attracting
significant investment in the United States. The popularity of high-graphics
online gaming is rising at the same time among American customers.
Additionally, the nation is emerging as an early user of smart transportation
infrastructure and self-driving cars. All these advances are anticipated to
increase North American demand for 5G chipset components.
Major
market players operating in the Global 5G Chipset Market are:
- Broadcom Inc.
- Mediatek Inc.
- Intel Corporation
- Samsung Electronics Co.,
Ltd.
- Qorvo, Inc.
- Huawei Investment &
Holding Co., Ltd.
- Advanced Micro Devices,
Inc.
- Analog Devices, Inc.
- NXP Semiconductors N.V.
- Marvell Technology Group
- Qualcomm, Inc.
- Murata Manufacturing
Co., Ltd.
- Infineon Technologies
AG.
- MACOM Technology
Solutions Holdings Inc.Anokiwave
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“The fifth generation of cellular
technology, or 5G, is giving consumers and businesses opportunities they have
never had before. In order to support the rising demand for high-speed mobile
broadband, resilient 5G networks will be required. Furthermore, the need for 5G
chipsets is anticipated to rise globally as a result of increased government
efforts, rising mobile data traffic, and rising numbers of Internet of Things (IoT)-connected
devices.”, said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“5G Chipset Market
– Global Industry Size, Share, Trends, Opportunities, and Forecast 2018-2028, Segmented
By IC Type (ASIC, RFIC, Cellular IC and mmWave IC), By Operational Frequency
(Sub 6GHz, between 26 & 39 GHz, Above 39GHz), By Deployment Type (Device,
Customer Premises Equipment, and Network Infrastructure Equipment), By Industry
Vertical (Automotive & Transportation, Energy & Utilities, Healthcare,
, Consumer Electronics, Industrial Automation, and Others), By Region,
Competition”, has
evaluated the future growth potential of Global 5G Chipset Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global 5G Chipset Market.
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