Fort Collins, Colorado, Oct. 24, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the 5G Chipset Market size was valued at USD 39.5 Billion in 2022 and is expected to have a market size of USD 229.2 Billion by 2032 at a CAGR of 19.3%.
The semiconductor chips enable data aggregation, distribution, and processing among cloud, edge, and terminal, bringing the digital world comprised of communication chips, cellular networks, mobile terminals, and software platforms. The growing technological advancements in network infrastructure technologies have resulted in the development of 5G networks. Besides, 5G wireless technology delivers ultra-low latency, higher multi-Gbps peak data speeds, more dependability, massive network capacity, and more uniform user knowledge to its end-users.
The growing demand for 5G in various industries such as electronics, healthcare, and aerospace & defense is driving its adoption. According to the GSMA Mobile Economy Report 2022, there is a continuous increase in smartphone users worldwide, with a decline in 4G adoption and a rise in 5G adoption. The demand for 5G-enabled smartphones is also increasing, and chipset manufacturers are making technological advancements to provide affordable 5G chipsets to expand the reach of 5G connectivity. It is expected that 5G users will surpass 1 billion by 2025, making it a significant driving factor in the 5G chipset market.
The adoption of ADAS systems in the automobile industry in both developed and developing economies is contributing to the growth of the 5G chipset market. This is due to the heavy reliance of these systems on the 5G chipset, which uses mm-wave IC to assist in various features such as lane change, blind spot detection, adaptive cruise control, cross-traffic alert, and automotive emergency braking in challenging environmental conditions.
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Segmentation Overview:
The global 5G chipset market has been segmented into type, frequency, end-user, and region. In the 5G chipset market, mm-wave ICs dominate due to their widespread use in mobile phones and autonomous vehicles. The sub-6 GHz category also has a significant market share, primarily used in mobile phones for network coverage. 5G connectivity is crucial for M2M communication and IoT in smart cities and automation, with the United States accounting for half of the total mobile connections.
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5G Chipset Market Report Highlights:
- The global 5G chipset market growth is anticipated at a CAGR of 19.3% by 2032.
- The demand for 5G network infrastructure solutions is boosting growth, enabling the interconnection of new industries and improving efficiency while reducing costs.
- North America is the leading market due to its role in advancing technology and the presence of major players such as Intel, Qualcomm, and Broadcom.
- Some prominent players in the 5G chipset market report include Qualcomm Technologies, Inc., Intel Corporation, MediaTek Inc., Huawei Technologies Co., Ltd., Samsung Electronics Co. Ltd, Broadcom, Advanced Micro Devices, Inc., Skyworks Solution, Inc., Analog Devices, Inc., Xilinx, Murata Manufacturing Co. Ltd., Unisoc Technologies Co., Ltd., Sivers IMA, Arm Limited, Fibocom Wireless Inc., and Quectel among others.
Industry Trends and Insights:
- To enhance their IoT solutions, Quectel Wireless Solutions and MikroElektronika have released the LC29H series RTK Click Boards.
- TSINGHUA UNIGROUP has appointed Mr. Ma Daojie as Chairman of UNISOC to strengthen its strategic planning and management.
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5G Chipset Market Segmentation:
- By Type: mmWave IC, Application-specific Integrated Circuits, Radio Frequency Integrated Circuit, Cellular IC, Field-programmable Gate Array
- By Frequency: Sub – 6 GHz, 24-29 GHz, Above 39GHz
- By Industry: Automotive, Energy, Healthcare, Consumer Electronics, Industrial Automation and Others
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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