5G Chipset Market is estimated to account US$ 1.03 Bn in 2019 and is expected to grow at a CAGR of 41.0% during the forecast period 2020 – 2027, to account to US$ 22.86 Bn by 2027.
Geographically, North America holds the largest 5G chipset market share, owing to rapid technological developments, numerous investments, and supportive Government policies in North American countries. However, Asia Pacific is projected to surpass North America over the forecast period. The government in this region are taking several initiatives such as investment funding are undertaken by the players to promote entire semiconductor industrial growth.
The growth of in this region is driven by high demand for more semiconductor applications in automotive, industrial, consumer goods, and other electronic products including wireless, storage products.
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Top Dominating Key Players:
- Broadcom, Inc.
- Huawei Technologies Co., Ltd.
- Infineon Technologies AG
- International Business Machines Corporation
- MediaTek Inc.
- Nokia Corporation
- Qualcomm Incorporated
- Samsung Electronics Co., Ltd.
- Telefonaktiebolaget LM Ericsson
- Xilinx, Inc.
APAC is expected to be the fastest growing region in the deployments of 5G infrastructures. The primary reason for this is the high population density of China and India resulting in a large number of smartphone subscriptions, supporting government initiatives towards a digitalized economy, considerable investments in laying out optical fiber infrastructure that would connect to the backhaul of 5G networks and enhanced focus on concepts such as smart cities and smart buildings. China is the most populated country in the world, and a country with a large number of companies established. ZTE Corporation, Huawei Technologies, Inc. that are the two largest telecommunication companies in China are investing significant funds for the development of 5G technology. These new market initiatives and strategic partnerships are expected to continue during the forecast period, contributing to the high growth of 5G chipset market in the region.
Rapid growth in the developments of smartphones
The adoption of smartphones adoption continues to globally expand. This is fueled by the multimode 3G/4G LTE connectivity, robust mobile processors, advanced features of multimedia, and superior location awareness capabilities, among other features. Approximately, 1.5 billion smartphones were shipped in 2017, globally; which is consistent year-over-year. Most of the growth is projected in the emerging regions, where smartphones account for approximately 70% of the total handset shipments. Further, growth in the smartphone demand has also been driven by the variety of affordable and flexible data plans that are being offered by the mobile operators.
Smartphone has become prominently in-demand for social networking, gaming, music, email, and web browsing, among other functionalities. It is anticipated that the 5G connectivity would further drive innovations and would increase the consumer demand by offering enhanced connectivity. The smartphone is replacing many of the conventional consumer electronics devices with its advanced capabilities and utility.
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Encouraging government support and investments in the emerging economies
As soon as 5G was announced and its potential benefits were showcased at global level, numerous countries have put their hand forward in ensuring a healthy evolution of this technology. A large number of global players have also ventured into developing, research and innovations for the 5G technology globally. Some of the leading vendors, carriers and stakeholders in the 5G chipset market include Qualcomm, Samsung Corporation, Ericsson, Nokia Networks, Huawei Telecommunications Inc. and ZTE Corporation who have formed partnerships with various stakeholders across the globe in funding for research & development of the 5G technology.
Operation Frequency Insights
The 5G chipset market by operation frequency is segmented into sub-6 GHz, between 26 and 39 GHz, and above 39 GHz. Sub-6 GHz segment dominates the 5G chipset market heavily and is expected to continue its dominance throughout the forecast period from 2020 – 2027. With continuous development taking place for the deployment of 5G, required testing related to 5G chipset, equipment, and other devices is growing. Along with testing of these devices, it also creates several challenges for sub-6 GHz and millimeter frequencies.
Global 5G Chipset Market Segmentation :
Global 5G Chipset Market – By Operation Frequency
- Sub-6 GHz
- Between 26 and 39 GHz
- Above 39 GHz
Global 5G Chipset Market – By Product
- Customer Premises Equipment
- Network Infrastructure Equipment
Global 5G Chipset Market – By End-User
- Automotive & Transportation
- Energy & Utilities
- Building Automation
- Industrial Automation
- Consumer Electronics
- Public Safety & Surveillance
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