The "Global 5G Chipset Market, By Frequency Type, By Node, By Deployment, By Vertical, & By Region - Forecast and Analysis 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global 5G Chipset market was valued at USD 16.22 Billion in 2021, and it is expected to reach a value of USD 83.38 Billion by 2028, at a CAGR of more than 26.35% over the forecast period (2022 - 2028).
The important 5G device component is a 5G chipset. Since the chipset handles the data flow through the computer to ensure the correct operation of the machine. It enables users of these gadgets with a better experience as well as excellent access to the next generation networks. Consumers today prefer high-speed and smooth data access that drives industry growth. The development of the network coverage and the implementation of IoT in several applications are some other reasons which increase the market growth.
Several leading telecom operators all around world, including AT&T, Inc., Verizon Communications, and China Telecom Corporation Limited, are investing heavily in the deployment of 5G network infrastructure to provide high-speed connectivity to their customers. However, Governments of all across the world are focusing to implementing 5G technology and applications policies that have pushed operators globally into even stronger rivalry in 5G large-scale commercial deployment and vertical industries testing.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global 5G Chipset Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research.
This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
- Significant factors driving the growth of the global 5G chipset industry include an increase in demand for optical scanner solutions, as well as an increase in demand for high-speed internet and extensive network coverage. Furthermore, the proliferation of M2M/IoT connectivity is likely to drive growth in the 5G chipset market. However, significant investment and technological and infrastructure obstacles in the installation of 5G networks, as well as privacy and security concerns, are impeding market growth. On the contrary, a surge in government initiatives for smart city development in Asia-Pacific is likely to provide prospective growth opportunities for the 5G chipset market over the forecast period.
- Smartphone chipsets that support 5G are anticipated to be more expensive than those that support 4G today. From 2019, first-generation 5G chipsets were only available in high-end smartphones. Volume deployment of 5G devices based on second-generation chipsets is expected in 2020, and performance-optimized 5G devices will be available in 2021. Qualcomm only supports 5G on its flagship Snapdragon 8-series SoCs, which are found in a small number of premium handsets.
Key Market Trends
- The trend to use IoT-based applications is driving market growth. Intelligent cities and smart infrastructure are vital aspects of IoT applications. As organizations already utilize IoT to monitor equipment efficiency, the tendency to use IoT is likely to also increase requirements for 5G chipsets.
- The industries may enhance customer experience with the help of AI and 5G electronics and deploy customized intelligent solutions to support the system of industrial electronics, making the business environment smarter, and help exploration and innovation in a new sector.
- Qualcomm Inc.
- Intel Corporation
- Samsung Electronics Co. Ltd.
- Qorvo Inc.
- Huawei Investment & Holding Co. Ltd.
- Xilinx Inc.
- Analog Devices Inc.
- Nxp Semiconductors N.V.
- Marvell Technology Group
- Broadcom Inc.
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