Global 5G Chipset Market Size Forecast 2024 - 2033
7 May, 2024
The 5G chipset market has experienced substantial growth, surging from $12.87 billion in 2023 to $17.2 billion in 2024, reflecting a notable compound annual growth rate (CAGR) of 33.7%. This expansion is fueled by the evolution of mobile communication standards, heightened demand for faster data transfer, the proliferation of IoT devices, growth in mobile broadband services, and the development of smart cities and connected infrastructure. Looking forward, the market is poised for continued exponential growth, projected to reach $51.95 billion in 2028, with a CAGR of 31.8%. Key drivers include 5G adoption in industrial automation, IoT, and its integration across various sectors.
Major Driver In The 5G Chipset Market
The expansion of mobile data traffic plays a pivotal role in driving the growth of the 5G chipset market. With mobile data traffic projected to soar to 288EB per month by 2027, as reported by the Ericsson Mobility Report, the demand for enhanced mobile network performance becomes imperative, necessitating the advancement of 5G chipset technology to sustain future generations of 5G networks. The increasing reliance on mobile data usage is expected to be a key driver fueling the growth of the 5G chipset market in the coming years.
Request A Free Sample Of The Global 5G Chipset Market Report5G Chipset Market Competitive Landscape
Qorvo Inc., Qualcomm Technologies Inc., Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., UNISOC Communications Inc., Intel Corporation, MediaTek Inc., Infineon Technologies AG, Xilinx Inc., NOKIA CORPORATION, Skyworks Solutions Inc., NXP Semiconductors, Advanced Micro Devices Inc., International Business Machines Corporation, Broadcom Inc., Marvell Technology Group Ltd., Analog Devices Inc., Renesas Electronics Corporation, Fujitsu Limited, Integrated Device Technology Inc., Texas Instruments Incorporated, STMicroelectronics N. V., Murata Manufacturing Co. Ltd., Cavium Inc., MACOM Technology Solutions Holdings Inc., Anokiwave Inc., Sequans Communications S. A., MaxLinear Inc., Inseego Corp., Sierra Wireless Inc., Telit Communications PLC, Quectel Wireless Solutions Co. Ltd., Fibocom Wireless Inc.
Key 5G Chipset Market Trend
In the 5G chipset market, the predominant trend is the emergence of product innovations. Key market players are actively developing inventive products to drive market expansion. For example, in June 2021, Samsung Electronics, a South Korea-based electronics company, introduced 3GPP Rel.16 compliant chipsets, representing a new generation of 5G chipsets incorporating cutting-edge technologies. These chipsets, featuring a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip, aim to enhance power efficiency, performance, and the compactness of 5G solutions.
Get The Full Global 5G Chipset Market Report5G Chipset Market Segmentation
The 5g chipset market covered in this report is segmented –
1) By Integrated Circuit: Radio Frequency Integrated Circuit (RFIC), Application-Specific Integrated Circuit (ASIC), Cellular Integrated Circuit (Cellular IC), Millimeter Wave Integrated Circuit (mmWave IC)
2) By Operational Frequency: Sub 6GHz, Between 26 and 39 Ghz, Above 39 Ghz
3) By Vertical: Manufacturing, Energy And Utilities, Media And Entertainment, IT And Telecom, Transportation And Logistics, Healthcare, Other Verticles
By Geography:The regions covered in the 5g chipset market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.Asia-Pacific was the largest region in the 5G chipset market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The 5G Chipset Global Market Report 2024 furnishes information about the global 5g chipset market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.