USD 27.18 billion
Report ID: SQMIG45I2067 | Region: Global | Published Date: November, 2022 | Pages: 162 | Tables: 121 | Figures: 77
5G Chipset Market size was valued at USD 27.18 billion in 2021 and is poised to grow from USD 43.04 billion in 2022 to USD 92.05 billion by 2030, growing at a CAGR of 21.8% in the forecast period (2023-2030).
A 5G chipset is a specialized component of customer premises equipment and network infrastructure equipment that allows the end user to create a wireless network based on 5G network specifications. The proliferation of internet-connected devices raises the need for a completely new wireless infrastructure known as 5G. Fifth-generation wireless (5G) is the mobile network generation that follows the current 4G LTE mobile network. These networks extend broadband wireless Operational Frequency beyond mobile internet to the Internet of Things (IoT) and critical communications segments, allowing for a global perception of complete connectivity.
The 5G chipset market is expected to grow significantly during the forecast period due to proliferation of M2M/IoT connections. Furthermore, the market is growing due to an increase in demand for high-speed internet and extensive network coverage. Furthermore, an increase in demand for mobile broadband operational frequency is expected to drive 5G chipset market growth during the forecast period.
Several leading telecom operators all around world, including AT&T, Inc., Verizon Communications, and China Telecom Corporation Limited, are investing heavily in the deployment of 5G network infrastructure to provide high-speed connectivity to their customers. However, Governments of all across the world are focusing to implementing 5G technology and applications policies that have pushed operators globally into even stronger rivalry in 5G large-scale commercial deployment and vertical industries testing.
US 5G Chipset Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 27.18 billion
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Global 5G chipset market is segmented based on frequency type, node type, deployment type, vertical outlook, and region. Based on frequency type, 5G Chipset Market is categorized into sub-6GHz mmWave, sub-6GHz+ mmWave. Based on node type, 5G Chipset Market is categorized into: 7 nm, 10 nm. Based on deployment type, 5G Chipset Market is categorized into telecom base station equipment, smartphones/tablets, single-mode connected vehicles, connected devices, broadband access gateway devices. Based on vertical outlook 5G Chipset Market is categorized into manufacturing, energy & utilities, media & entertainment, IT & telecom, transportation & logistics, and healthcare. Based on region, 5G Chipset Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
5G Chipset Market Analysis by Node Type
In terms of value, the 7 nm segment dominated the market in 2020, accounting for 64.2% of the market. This is due to key players' initial focus on developing 5G chipset components with a 7nm processing node. Leading market players such as MediaTek Inc., Huawei Technologies Co. Ltd., Intel Corporation, and Qualcomm Incorporated are focusing their initial efforts on developing 5G chipset components with a 7nm processing node. Furthermore, these market players are currently focused on manufacturing 7 nm and 10 nm chipset processing nodes to support high band frequencies.
Modern communication networks, on the other hand, are expected to face heavier loads as they serve multiple applications at the same time. This would necessitate the creation of a new chipset capable of faster processing speeds. As a result, the 10 nm segment is expected to grow at a rapid pace over the forecast period. Furthermore, as self-driving cars become more common, the need for seamless connectivity between vehicles will grow, and higher processing nodes will be required to develop 5G chipset components.
5G Chipset Market Analysis by Frequency Type
In 2020, Sub-6 GHz is attributed to hold largest market size of 5G chipset market. 5G devices operating in the Sub-6 GHz frequency region are expected to play a key role in providing comprehensive coverage and enabling a wide range of use cases. Companies like Huawei and ZTE do 90% of their work in sub-6 GHz. Sub-1 GHz frequencies provide 5G services in urban, suburban, and rural locations, and they may also play a role in IoT services. This spectrum will most likely aid in the delivery of 5G services to hard-to-reach and densely populated public places. 5G coverage and capacity applications employ spectrum from 1 to 6 GHz
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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.
The market in the United States is expected to grow significantly in the coming years. The United States is seeing significant investment in smart homes, smart industries, and smart cities. At the same time, consumers in the United States are becoming more interested in high-graphics online gaming. Furthermore, the country is emerging as a pioneer in self-driving cars and smart transportation infrastructure. All of these developments are expected to increase demand for 5G chipset components in the United States.
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5G Chipset Market Drivers
5G Chipset Market Restraint
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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.
Top Players in the Global 5G Chipset Market
5G Chipset Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, it has been identified that rapidly increasing demand for ultra-reliable and low-latency data networks capable of providing wireless integration is expected to drive market growth over the forecast period, as is the growing demand for high-speed data networks with a latency of less than 1ms to ensure seamless connectivity for mission-critical applications such as Machine-to-Machine (M2M) communication.
|Market size value in 2021||USD 27.18 billion|
|Market size value in 2030||USD 43.04 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global 5G Chipset Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global 5G Chipset Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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