Dublin, Nov. 18, 2024 (GLOBE NEWSWIRE) -- The "5G Chipset - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for 5G Chipset was estimated at US$18.7 Billion in 2023 and is projected to reach US$583.5 Billion by 2030, growing at a CAGR of 63.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
What Is Fueling the Growth of the 5G Chipset Market?
The growth of the 5G chipset market is driven by several key factors. One of the primary drivers is the increasing demand for 5G-enabled smartphones and other consumer electronics. As 5G networks expand globally and more people seek faster mobile data speeds, manufacturers are integrating 5G chipsets into a wider range of devices. The demand for faster download and upload speeds, smoother streaming, and enhanced gaming experiences has pushed manufacturers to develop powerful chipsets that can handle these requirements. Leading tech companies are investing heavily in 5G research and chipset development to stay competitive, further accelerating market growth.
Another major factor fueling the market's expansion is the rise of IoT applications across industries. In manufacturing, healthcare, transportation, and logistics, 5G chipsets are essential for enabling real-time communication between machines and devices. The low latency and massive connectivity of 5G allow businesses to deploy smart solutions that improve efficiency and automation. For example, smart factories use 5G-powered IoT devices to monitor and optimize production processes, while autonomous vehicles rely on 5G chipsets to communicate with their surroundings and make split-second decisions. As more industries adopt IoT solutions, the demand for robust 5G chipsets capable of supporting these networks is growing rapidly.
The ongoing development of edge computing and AI-based applications is also contributing to the surge in 5G chipset demand. 5G networks enable faster processing of data at the edge - closer to where it is generated - reducing latency and improving the performance of applications that require real-time analytics, such as smart cities, connected healthcare, and autonomous systems.
Additionally, the increasing reliance on cloud services, which are supported by 5G's high-speed data transfer capabilities, is pushing companies to upgrade their infrastructure with 5G chipsets that can handle the massive influx of data. As businesses and consumers alike continue to adopt 5G technology, the chipset market is set for exponential growth, driven by the need for faster, more reliable connectivity across every aspect of the digital world.
What Challenges Are Slowing the Widespread Adoption of 5G Chipsets?
Several challenges are slowing the widespread adoption of 5G chipsets despite their promising potential. One of the most significant challenges is the complexity and cost of producing these advanced chips. 5G chipsets require cutting-edge technology to support higher data rates, multiple frequency bands, and more complex communication protocols. Developing and manufacturing these chipsets involve significant research and development (R&D) investments, as well as the use of advanced semiconductor processes that can be expensive. This has led to higher prices for 5G-enabled devices, which may deter some consumers and industries from upgrading immediately, especially in regions where 4G networks still meet current needs.
Another challenge is power consumption. While 5G offers faster speeds and lower latency, it requires more power to operate efficiently, particularly when supporting multiple frequency bands and managing high data loads. 5G chipsets, therefore, need to strike a delicate balance between performance and energy efficiency. Managing heat and battery life in 5G-enabled devices remains a concern, especially in smaller, portable devices like smartphones and wearables.
Additionally, global supply chain disruptions and semiconductor shortages have impacted the availability of 5G chipsets, slowing down production and limiting supply. Compatibility with existing infrastructure is another hurdle, as many regions are still in the process of upgrading to 5G networks. Until 5G networks are fully rolled out and standardized globally, the adoption of 5G chipsets will be slower in regions with limited coverage.
Why Are 5G Chipsets Crucial for the Growth of IoT And Smart Devices?
5G chipsets are crucial for the growth of the Internet of Things (IoT) and smart devices because they provide the high-speed, low-latency connectivity needed for millions of connected devices to operate seamlessly in real time. In the IoT ecosystem, where sensors, devices, and machines must communicate and exchange data constantly, 5G chipsets ensure that these interactions occur with minimal lag and maximum reliability. This is particularly important in sectors like manufacturing, where smart factories rely on IoT devices to monitor production processes and equipment health in real time, enabling predictive maintenance and reducing downtime.
Additionally, in smart cities, 5G chipsets power the connected infrastructure that manages everything from traffic lights and public safety systems to environmental monitoring, helping cities operate more efficiently and sustainably. In the consumer space, 5G chipsets are transforming how smart devices function in homes and personal environments. From connected refrigerators and smart thermostats to wearables and health-monitoring devices, 5G-enabled devices can now offer faster responses, more advanced features, and enhanced connectivity.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global 5G Chipset Market such as Analog Devices, Anokiwave, Broadcom, Cavium, Ericsson and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the 7 nm Processing Node segment, which is expected to reach US$398.7 Billion by 2030 with a CAGR of a 63.9%. The 10 nm Processing Node segment is also set to grow at 64.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $5.8 Billion in 2023, and China, forecasted to grow at an impressive 59.3% CAGR to reach $74.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 92 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $18.7 Billion |
| Forecasted Market Value (USD) by 2030 | $583.5 Billion |
| Compound Annual Growth Rate | 63.5% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- 5G Chipset - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand for High-Speed Connectivity Propels Growth in 5G Chipset Development
- Increased Adoption of IoT Devices Expands Market Opportunities for 5G Chipsets
- Advancements in Smart Devices and Wearables Drive Demand for Compact, Energy-Efficient 5G Chipsets
- Shift Toward Autonomous Vehicles Spurs Growth in High-Performance 5G Chipsets for Automotive Applications
- Growing Focus on Edge Computing Accelerates the Adoption of 5G Chipsets in Enterprise Solutions
- Rising Popularity of Streaming and Cloud Gaming Platforms Generates New Demand for 5G-Enabled Chipsets
- Growing Need for Low Latency in Industrial Automation Drives Demand for Advanced 5G Chipset Solutions
- Increased Focus on Smart City Initiatives Throws Spotlight on 5G Chipsets for Public Infrastructure
- Push for AI-Driven Applications Expands the Addressable Market for High-Performance 5G Chipsets
- Rising Demand for Enhanced Mobile Broadband Drives Adoption of 5G Chipsets in Consumer Electronics
- Advancements in Semiconductor Technologies Propel Innovation in 5G Chipsets for High-Speed Data Transmission
- Evolution of Connected Healthcare Systems Fuels Market Growth for 5G Chipsets in Telemedicine
- Increased Demand for Network Slicing and Virtualization Technologies Strengthens the Market for 5G Chipsets
FOCUS ON SELECT PLAYERS: Some of the 36 companies featured in this Global 5G Chipset market report include
- Analog Devices
- Anokiwave
- Broadcom
- Cavium
- Ericsson
- Fujitsu
- Hewlett Packard Enterprise
- Huawei Technologies
- IBM
- Infineon Technologies
- Integrated Device Technology
- Intel
- Korea Telecom
- Macom Technology Solutions
- Nokia
- Qorvo
- Qualcomm Technologies
- Samsung Electronics
- ZTE Corporation
For more information about this report visit https://www.researchandmarkets.com/r/x5e463
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