Pune, India, May 17, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global 5G Chipset Market Size was valued at USD 19.69 billion in 2022 and is projected to grow from USD 25.30 billion in 2023 to USD 218.04 billion by 2030, exhibiting a CAGR of 36.0% during the forecast period. This chipset is manufactured to transfer and carry high-speed internet data with a low-latency network. The fifth generation network chipset has lower latency than existing 4th generation (4G/ 4.5G/ 4.9G) LTE chipsets. It is also capable of offering higher efficiency and 10 to 100 times more data transfer than existing technology 4G technology, thus driving market proliferation. This information is provided by Fortune Business Insights, in its report titled, 5G Chipset Market Forecast, 2023-2030.
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Key Industry Development:
February 2022: Qualcomm Technologies, Inc. launched the new Snapdragon X70 5G Modem-RF System, its 5th generation modem-to-antenna 5G solution. The Snapdragon X70 unveils the world’s first 5G AI processor in a modem-RF system and enables users to harness the power of AI for breakthrough 5G performance with 10 Gigabit 5G downloads. It also promises low latency, incredible upload speeds, coverage, and power efficiency. It will allow global 5G operators to maximize spectrum resources for the best possible 5G connectivity.
Key Takeaways
- 5G chipset is a next generation high-end dedicated connectivity chipset device
- This chipset is manufactured to carry and transfer high-speed internet data with a low-latency network.
- 5G technology also increases overall smartphone and connected device performance.
- The growing use of 5G processors and chipsets in consumer electronics devices is driving the market globally.
Discover the Leading Players Featured in the Report:
“Companies leading the 5G chipset Market are Qualcomm Technologies, Inc. (U.S.), Broadcom (U.S.) , Unisoc Communications, Inc. (China), Mediatek Inc. (Taiwan), Intel Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), Huawei Technologies Co., Ltd. (China), Qorvo (U.S.) , Xilinx Inc. (U.S.), Infineon Technologies AG (Germany),”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 36.0% |
| 2030 Value Projection | USD 218.04 Billion |
| Base Year | 2022 |
| 5G chipset Market Size in 2022 | USD 190.6 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | Type, Frequency, Deployment Type, Industry Vertical and Geography |
| 5G chipset Market Growth Drivers | Adoption of IoT Technology to Boost Product Demand and Drive Market Growth |
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Drivers and Restraints:
Adoption of IoT Technology to Boost Product Demand and Drive Market Growth
The demand for high-speed and low-latency internet connections has been rising since the last decade, which, in turn, raises the need for high-speed internet networks and data transfer for rapid information processing. It also necessitates the adoption of 5G technology as it increases overall smartphone and connected device performance. For instance, according to a survey published by “Telecom-Talk”, the percentage of 5G smart phone users in the U.S. grew from 41% in 2021 to 63% in 2022. The rising adoption of advanced technologies, such as connected devices and IoT, has elevated the need for 5G chipsets in several consumer electronics, thus driving the 5G chipset market growth.
On the other hand, the high initial cost of adopting 5G chipsets will hinder market proliferation over the forecast timeframe.
Segments:
By Type
- Application Specific Integrated Circuit (ASIC)
- Radio Frequency Integrated Circuit (RFIC)
- Millimeter Wave Integrated Circuit (mmWave IC)
- Cellular Integrated Circuit (Cellular IC)
- Others
By Frequency
- Sub-6 GHZ
- 26-39 GHZ
- Above 39 GHz
By Deployment Type
- Smartphone/Tablets
- Connected Vehicles
- Connected Devices
- Broadband Access Gateway Devices
- Others
By Industry Vertical
- Energy and Utilities
- Manufacturing
- IT and Telecommunication
- Media and Entertainment
- Transportation and Logistics
- Consumer Electronics
Regional Insights:
Asia Pacific to Hold Major Share Stoked by Availability of Research & Development Facilities
Asia Pacific captured majority of the 5G chipset market share in 2022 owing to the availability of several chipset and advanced processor manufacturing units and research & development facilities in Japan, China, Taiwan, and South Korea. Moreover, developing economies, such as Australia, India, and Singapore, are focusing on enhancing their manufacturing capacity for chipsets, processors, and 5G devices, which will further aid market augmentation in the region..
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Competitive Landscape:
Product Launches by Industry Leaders to Aid Market Proliferation
Leading companies take various measures to strengthen their market position and maximize profits. Some of these measures include product launches, mergers and acquisitions, partnerships, and collaborations. For instance, in June 2021, Samsung Electronics, a leading consumer electronic products provider, launched its new 3GPP Rel.16 compliant chipsets, which are compatible with the next generation 5G mmWave radio frequency integrated circuit and 5G modem System-on-Chip (SoC). This product can effectively operate functions on a high-speed 5G low latency network.
FAQ’s
How big is the 5G chipset Market?
5G chipset Market size was USD 19.69 Billion in 2022.
How fast is the 5G chipset Market growing?
The 5G chipset Market will exhibit a CAGR of 36.0% during the forecast period, 2023-2030
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