Global 5G Chipset Market

5G Chipset Market Size, Share, Growth Analysis, By Frequency Type(sub-6GHz mm Wave, sub-6GHz+ mm Wave), By Node(7 nm, 10 nm), By Deployment(Telecom Base Station Equipment, Smartphones/Tablets, Single-mode Connected Vehicles, Connected Devices), By Vertical outlook(Manufacturing, Energy & Utilities, Media & Entertainment, IT & Telecom), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45I2067 | Region: Global | Published Date: July, 2001
Pages: 162 | Tables: 121 | Figures: 77

5G Chipset Market Insights

5G 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).

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.

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5G 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 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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Global 5G Chipset Market

Product ID: SQMIG45I2067