![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
In March 2024, Qualcomm has announced the upcoming launch of a new chipset, likely to be the Snapdragon 8s Gen 3, positioned as a flagship product. This advanced System-on-Chip (SoC) is expected to drive market growth by enhancing the performance and capabilities of next-generation devices. With its cutting-edge technology, the Snapdragon 8s Gen 3 will enable faster processing speeds, improved energy efficiency, and enhanced connectivity features, making it highly attractive to manufacturers and consumers alike. This innovation is set to fuel demand for high-performance devices in sectors such as smartphones, tablets, and IoT, thereby significantly expanding Qualcomm's market presence and influence.
In March 2024, Qualcomm has announced plans to launch a 5G smartphone priced under Rs 10,000 by the end of the year. The company confirmed its collaboration with telecom companies and manufacturers in India to develop this affordable smartphone. This initiative is poised to significantly expand the market by making 5G technology more accessible to a broader consumer base, driving the adoption of 5G services, and stimulating growth in the smartphone and telecom sectors.
In February 2024, HFCL has partnered with Taiwanese fabless chipmaker MediaTek to integrate the MediaTek T750 chipset into its 5G indoor consumer premises equipment (CPE). This collaboration will significantly enhance the performance and capabilities of HFCL's 5G CPE, ensuring faster and more reliable connectivity for consumers. By leveraging MediaTek's advanced chipset technology, HFCL can offer superior 5G solutions, driving market growth by meeting the increasing demand for high-speed internet access in indoor settings. This strategic partnership positions HFCL to capitalize on the expanding 5G market and reinforces its competitive edge in providing cutting-edge communication solutions.
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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