5G Chipset Market is poised to grow at a CAGR of over 44.95% during the forecast period of (2020-2030)
Constant development of technology linked with surge in the adoption of smart devices with further evolution of wireless infrastructure along with telecommunication industry are expected to drive the growth of 5G chipset industry during the forecast period of 2020-2030.
The 5G Chipset Market is expected to grow at the CAGR of 44.95% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
5G chipset is integrated system which is a collection of electronic components. It is the 5th generations of the chipset which helps in the fast data processing and make the entire process smooth. These chipsets are used in the deployment of 5G technology. It is widely used in the IT and telecommunication industry to process the large amount of data in a short period of time along with that it is also used in computer functions.
According to the report, there has been constant evolution of technology along with development of infrastructure taking place over the forecast period. In addition to that surge in the telecommunication & IT industry promoting the adoption of smart devices. There has been growth in the demand of wireless technology along with rapid developing mobile networks & generations. The amplified use of IoT as well as growing automation is also expected to enhance the market growth. Moreover, surge in the broadband services linked with growing internet penetration with low power consumption by the smart devices tends to bring change in market trend over the forecast period.
However, challenges with technical designing of chip as well as high cost of the 5G chipsets may act as restrain for the 5G chipset market. On the contrary, constant expansion of applications, along with increase in strategic partnerships in the market is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of product, the 5G chipset market is fragmented into Devices, Customer Premises Equipment, and Network Infrastructure Equipment. In 2019, Devices segment is expected to hold the dominant position which is expected to be maintained over the forecast period.
On the basis of IC types, the 5G chipset market share is segmented into ASIC, RFIC, Cellular IC, and mmWave IC. ASIC segment dominates the global 5G chipset market in terms of market share and will be the dominant during the forecasted period.
On the basis of Operational frequency, the 5G chipset market is categorised into Sub 6GHz, Between 26 & 39 Ghz, and Above 39 Ghz. Sub 6GHz accounts for the major market share over the forecast period and dominates the market growth. The growth is contributed by the wide coverage of different applications in that segment is likely to lead the market over the forecast period.
Based on Industry Vertical, the 5G chipset market is classified into Automotive & Transportation, Energy & Utilities, Healthcare, Retail, Consumer Electronics, Industrial Automation, and Others. Consumer electronics is expected to show significant growth and dominate the market growth in terms of CAGR till 2030.
North America is likely to account for the highest market size & share of the 5G chipset market in the forecast period 2020–2030 owing to the surging demand of wireless networks, technological advancement as well as rapid automation. Moreover, surge in building automation along with the use of smart devices are also expected to fuel the market growth. Europe accounts for the second leading position in the 5G chipset market size. Asia Pacific is expected to be the fastest developing region in the 5G chipset market which is majorly driven by the rapid development of telecommunication and IT industry along with the development of mobile networks an generations for the efficient processing of large data. In addition, there has been amplified inclination towards IoT, fast developing infrastructure are further expected to anticipate the market growth.
According to the report, some the key players in the 5G chipset market are Qualcomm Technologies Inc., Samsung Electronics Co. Ltd, Huawei Technologies Co. Ltd, Integrated Device Technology Inc., MediaTek Inc., Qorvo Inc., Nokia Corporation, MACOM Technology Solutions Holdings Inc., Xilinx Inc., Advanced Micro Devices, Inc., Broadcom Inc., Anokiwave Inc., Cavium Inc., Infineon Technologies AG, NXP Semiconductors NV, Analog Devices, Inc., Intel Corporation, and Texas Instruments, Inc..
Browse key industry insights from the report at https://www.nextmsc.com/report/5g-chipset-market in detail along with the table of contents:
Key Insights from the 5G Chipset Market Report:
- Asia Pacific is the fastest growing 5G Chipset market owing to the rising demand for the 5G chipset from telecommunication & IT industry, development of wireless infrastructure along with rapid automation and presence of developing economies.
- The consumer electronics dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Qualcomm Technologies Inc., Samsung Electronics Co. Ltd, Huawei Technologies Co. Ltd, Integrated Device Technology Inc., MediaTek Inc., Qorvo Inc., Nokia Corporation, MACOM Technology Solutions Holdings Inc., Xilinx Inc., Advanced Micro Devices, Inc., Broadcom Inc., Anokiwave Inc., Cavium Inc., Infineon Technologies AG, NXP Semiconductors NV, Analog Devices, Inc., Intel Corporation, and Texas Instruments, Inc.
The report 5G Chipset market – segmented by type, applicationand geography
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