![Global 5G Chipset Market](https://res.cloudinary.com/devmoveo/image/upload/v1707219482/skyquest/report/phpxJhIq6.jpg)
Report ID: SQMIG45I2067
Report ID:
SQMIG45I2067 |
Region:
Global |
Published Date: June, 2024
Pages:
162
|
Tables:
121 |
Figures:
77
The 5G chipset market is characterized by intense competition as companies strive to capitalize on the rapid adoption of 5G technology across the globe. Leading players in the market are at the forefront of innovation, developing high-performance chipsets for various applications including smartphones, automotive, IoT, and networking infrastructure. Qualcomm has the lion's share with its Snapdragon series, but MediaTek is significant too, aiming to deliver powerful and cheap chipsets simultaneously. While 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. Another prominent player like Unisoc and Marvell Technology Group whose stock has been steadily increasing is also looking to capture the market. The market is underpinned by the several factors namely the rising demand for high-speed internet connectivity, the expansion of applications of IoT and the development of smart cities and autonomous vehicles. The development of the 5G market over the next year is likely to lead to a more intensified competitive environment where companies will allocate significant resources to innovative research and development to stay ahead of the technological curve.
Top Players in the Global 5G Chipset Market
5G Chipset Market
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REQUEST FREE CUSTOMIZATION5G Chipset Market size was valued at USD 16.04 billion in 2019 and is poised to grow from USD 19.28 billion in 2023 to USD 92.05 billion by 2031, growing at a CAGR of 21.8% in the forecast period (2024-2031).
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.'
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.
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.
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.
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Report ID: SQMIG45I2067