What is the global market size of 5G Chipset Market?

5G Chipset Market size was valued at USD 16.04 billion in 2021 and is poised to grow from USD 19.28 billion in 2022 to USD 92.05 billion by 2030, growing at a CAGR of 21.8% in the forecast period (2023-2030).

Who are the key vendors in the Global 5G Chipset Market?

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.'

What is the key driver of Global 5G Chipset Market?

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.

What is the key market trend for Global 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.

Which region accounted for the largest share in Global 5G Chipset Market?

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.

Global Machine Tools Market Size, Share, Growth Analysis, By Type(Lathe Machines, Milling Machines), By Technology(Computer Numerical Control (CNC), Conventional) - Industry Forecast 2024-2031

Report ID: SQMIG20I2151 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 66 | Figures: 75

Global Machine Tools Market Dynamics

Machine Tools Market Driver

One of the key factors propelling the expansion of the machine tool market is the rise in the necessity for automation technology in the industry sector. The market benefits from the rise in demand for productivity improvement, good quality, and short cycle times.
The market growth is accelerated by the rise in demand for mass manufacturing across a number of industries, including the aerospace and defense sectors. The market will expand as a result of the increase in the requirement for metal cutting tools caused by the use of metals in numerous sectors.

Machine Tools Market Restraint

High-end machine investment costs and trade restrictions among various areas are predicted to limit industry expansion. The machine tool market is expected to face challenges during the projected timeframe given the high maintenance requirements of this equipment.

Global Machine Tools Market Report Snapshots

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Machine Tools Market size was valued at USD 83.16 billion in 2019 and is poised to grow from USD 87.94 billion in 2023 to USD 137.43 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

To get a foothold in the stable China market, the major companies in the global machine tools market have chosen a variety of competitive strategies, including mergers and acquisitions. Leading businesses are also acquiring local and small brands in order to broaden their regional reach. A number of suppliers have begun to offer cutting-edge 5-axis machining equipment. For instance, in January 2021, the VARIAXIS i-800 NEO, a flexible 5-axis machining center, was introduced by Yamazaki Mazak. The MAZATROL Smooth Ai, a newly created CNC device, is included with the VARIAXIS i-800 NEO and provides increased basic performance. 'Yamazaki Mazak Corporation', 'DMG Mori Co Ltd.', 'Trumpf GmbH + Co. KG', 'Amada Co Ltd.', 'Okuma Corporation', 'JTEKT Corporation', 'Makino Milling Machine Co Ltd.', 'GF Machining Solutions', 'Haas Automation, Inc.', 'Doosan Machine Tools Co. Ltd.', 'Hyundai WIA Corporation', 'FANUC Corporation', 'Chiron-Werke GmbH & Co. KG', 'Hwacheon Machine Tool Co Ltd.', 'Schuler AG', 'Hermle AG', 'Sodick Co Ltd.', 'GROB-WERKE GmbH & Co. KG', 'Makino Asia Pte Ltd.', 'EMAG GmbH & Co. KG'

One of the key factors propelling the expansion of the machine tool market is the rise in the necessity for automation technology in the industry sector. The market benefits from the rise in demand for productivity improvement, good quality, and short cycle times.

Industry 4.0 is taking its toll on the machine tool market, which is attempting to link into smart systems, as it gains popularity all over the manufacturing segment. By minimizing idle time, Industry 4.0 has helped enhance the use of machine tools in manufacturing processes. Technological developments like the growing use of robotics and human-machine interaction are seen to have an impact on market growth at the moment. The demand for real-time connectivity is also fueling the emergence of smart factories that are cloud-enabled. As a result, the tool is an essential component of smart systems and is expected to boost the awareness of the product.

With a market share of more than 35% in 2021, Asia Pacific was the market leader. The necessity for machine tools has increased as a result of an increase in metal cutting operations as well as expansion in the petroleum & energy, automobile, and railway industries. For instance, China is one of the major consumers of machine tools. The Asia Pacific might be considered a significant market area for machine tools given factors.

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Global Machine Tools Market Size, Share, Growth Analysis, By Type(Lathe Machines, Milling Machines), By Technology(Computer Numerical Control (CNC), Conventional) - Industry Forecast 2024-2031

Global Machine Tools Market Dynamics

Global Machine Tools Market Report Snapshots

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What is the global market size of Machine Tools Market?

Who are the key vendors in the Global Machine Tools Market?

What is the key driver of Global Machine Tools Market?

What is the key market trend for Global Machine Tools Market?

Which region accounted for the largest share in Global Machine Tools Market?

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