Portland, OR, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “5G Chipset Market by IC Type (ASIC, RFIC, Cellular IC, and mmWave IC), Operational Frequency (Sub 6Hz, Between 26 & 39 GHz, and Above 39 GHz), Product (Devices, Customer Premises Equipment, and Network Infrastructure Equipment), and Industry Vertical (Automotive & Transportation, Energy & Utilities, Healthcare, Retail, Consumer Electronics, Industrial Automation, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2026.” According to the report, the global 5G chipset market would contribute $2.12 billion in 2020 and is expected to reach $22.93 billion by 2026, growing at a CAGR of 48.7% from 2020 to 2026.
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Advent of automated devices, rise in demand for mobile broadband services, and ease in availability of M2M/IoT connections drive the growth in the market. However, high initial investment and privacy & security concerns hamper the market growth. On the other hand, increase in initiatives by governments to develop smart cities would offer new opportunities in the industry.
The ASIC segment is estimated to account for the largest market share in 2020, contributing nearly half of the total market revenue, owing to surge in demand for customized chips. However, the mmWave IC segment would grow at the fastest CAGR of 55.3% during the forecast period, owing to huge demand for ICs in the automotive market.
Based on operational frequency, the between 26 and 39 GHz frequency segment would witness the highest growth rate, registering the CAGR of 60.6% from 2020 to 2026, owing to its capabilities to serve multiple 5G devices and availability of frequency band. However, the sub 6GHz frequency segment held the largest share in the market in 2020, accounting for more than three-fourths of the total share, owing to operation of most of the consumer electronics devices such as laptops and smartphones under this frequency.
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Asia-Pacific region contributed to the highest market share, accounting for more than one-third of the total market share, owing to surge in initiatives by government to build smart cities in the region.
Leading market players analyzed in the research include Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., Intel Corporation, Qorvo, Broadcom, Xilinx Inc., Huawei Technologies Co., Ltd., Mediatek Inc., Nokia Corporation, and Infineon Technologies AG.