![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
Based on SkyQuest in-depth study, we found that the North America market is leading the global 5G chipset market and can be attributed to its excellent telecommunication infrastructure and the fact that the region has been quick to make use of advanced technology first. The U.S. and Canada regions have benefited from several major telecommunications and 5G chipset companies becomes a solid intrinsic for the market growth in this region. Apart from that Ma governmental policies and investments in 5G sector essentially are a kindle that serves for market expansion all over the US. The urgent need for the high-speed Internet and the 5G connectivity in both the automotive and the healthcare sectors and entertainment are major reasons contributing to their leadership in the 5G chipset market.
Asia Pacific area is observed to be the fastest growing 5G chipset market, this phenomenon is happening largely because of the rapid growth in telecommunications infrastructure in countries such as Japan, China and Singapore. Developed countries have been rapid to deploy 5G networks and thus act as a catalyst for innovation in 5G technologies. Urbanization in this region not only bring high population density but also becomes a factor for better mobile networks due to the increased demand for more advanced technology. Besides, the dominance of 5G chipset market leaders and continuous investments in research and development initiatives in countries like China and South Korea have amplified the speed of growth in this region. The encouragement of innovation should logically bring 5G technology up to the status of major platform capable of catering to innovative application needs in this area.
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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