ID: MRFR/ICT/5682-HCR | 100 Pages | Published By Ankit Gupta on March 2023
The global 5G Chipset market USD 133.50 billion is expected to see enormous growth CAGR of 25.50% over the forecast period (2022-2030).
The global 5G Chipset market is expected to see enormous growth over the forecast period (2022–2030). The 5G microchip market was evaluated at USD 1.21 billion in 2017. The market is expected to grow at a swift speed, with a CAGR of 25.50% in the coming years. The market value is anticipated to reach around USD 133.50 billion by the end of 2030.
5G refers to the latest technology that is expected to increase the speed of wireless cellular networks. A 5G Chipset contains many microchips that make up the set. It helps transmit data across wireless networks swiftly. A 5G microchip set allows network providers to create one or more networks within a single 5G cellular network.
There has been a sharp increase in the number of internet and smartphone users around the world. Moreover, they are looking for high-speed internet provisions and low battery-consuming networks when accessing the internet. Only 5G cellular networks can make these provisions possible for the users. Hence, these factors act as a driving force to the 5G chipset market growth.
5G Chipset Market Covid-19 Analysis:
After the impact of Covid-19 across the globe, many large-scale businesses and industries suffered, except healthcare and life support products. The lockdown and physical distancing protocols also affected many small and big business institutions alike. However, the 5G chipset business seemed to make a lot of profit out of the situation.
This is because most families and friends were separated due to travel restrictions. Hence, the 5G high-speed networks help them stay connected. Moreover, post-Covid-19, the media & entertainment sector adopted online platforms for users to enjoy them at home. These factors contribute to the growth of the market. Hence, higher 5G chipset market sales are expected in the coming years.
5G Chipset Market Dynamics:
Many factors drive the growth of the 5G chipset market. Various mobile and PC applications such as multiplayer gaming, video conferencing, distance education, and augmented reality require high-speed internet and large span network coverage. Hence, 5G microchips are the ideal solution. The need for transmitting data across the globe faster and data processing efficiency is also driving the growth of the 5G chipset market.
Many countries have already adopted smart city, car, and home solutions across the globe. In such cases, the adoption of a 5G network will accelerate the growth of the country’s annual GDP by a large fraction in the long term. The deployment of 5G networks also extends various opportunities for consumers and industries. The rise of cellular IoT networks also leads to 5G chipset market growth.
There are a few factors that act as restraints to the growth of the 5G microchips market. The most important factor among them is the high cost of 5G chipsets. Since these networks offer numerous benefits to the users, they are highly expensive. There were only available for premium smartphone users in 2019. The higher the performance, speed, and quality, the more you need to pay for its deployment. These factors may slow down the 5G market growth.
As of now, not many phones support the use of 5G cellular networks. Only premium smartphones support 5G use and they are very expensive. Moreover, not many 5G mobile phones are available in the market. Hence, people cannot deploy 5G cellular data as much, despite the high demand for the network. So catering to the demands of the global population comes as a challenge for the 5G chipset providers.
The 5G microchips market value is anticipated to reach nearly USD 133.50 billion over the forecast period with a CAGR of around 25.50% CAGR from 2022-2030. The recorded market value of the market was around USD million in 2030. Over the few years, the market value has increased commendably due to the high demand for a 5G cellular network. Post-Covid-19, the market growth is expected to propel more with the need for high-speed and responsive wireless networks.
5G cellular network offers high-speed internet, quick data transmission across networks, and a larger span of network coverage. This chipset deployment is especially beneficial for users to communicate with friends and family overseas and improve their overall internet-user experience. Deployment of 5G helps increase the annual GDP of countries that enable smart city, home, and car provisions. It helps make your life easier with its various benefits.
The 5G chipset use reduces the network coverage and internet speed issues that people face in the 3G and 4G cellular networks. Moreover, the network traffic in them may cause poor or minimal data speed issues. This issue is eradicated in the 5G network, which offers an extremely high-speed network, across the globe.
5G Chipset Market Segment Overview:
The global 5G Chipset market is divided into various segments such as by type, product, operational frequency, and vertical. Given below are the important 5G Chipset market segments:
By Operational Frequency:
5G Chipset Market Regional Analysis:
Based on region, the global 5G Chipset market is divided into North America, Europe, Asia Pacific, and Middle East & Africa. Among them, the Asia Pacific region is anticipated to dominate the global market with the highest share during the 5G Chipset market forecast. Countries such as China are moving forward in the innovation and development of 5G networks. These measures prove to increase the annual GDP of the countries by a large fraction. Moreover, the implementation of 5G expands opportunities for consumers and businesses alike.
5G Chipset Market Competitive Landscape:
The 5G microchips industry is dominated by a few companies that play a vital role in the growth of the market. These mobile encryption market companies are called key companies. They contribute to the largest share of the market profit. The key companies contribute to the growth of the market by using strategies such as product launches, technological advancements & developments, and collaborations.
5G Chipset Market Key Players:
Listed below are some of the major companies of the global 5G microchips market:
Qualcomm introduced the Snapdragon 750G 5G Mobile Platform in September 2020. It is the latest 5G mobile phone platform in the 7 series. It offers a 5G wireless network with HD resolution gaming and AI features.
In July 2020, the company introduced the Snapdragon 865 Plus 5G Mobile Platform. This platform helps offer better performance to enable supreme gameplay and Qualcomm elite gaming experience. It offers a global 5G network, high speed, and AI provisions.
Moreover, Qualcomm launched the first-ever 5G robotics platform with AI. This platform fuelled the growth of various AI-enabled robots and drones, for use in industries, enterprises, and other professional services. They were highly powerful, high-computing, and power-efficient.
This report caters all information about the growth of the global 5G Chipset market over the forecast period. There are different sections presented that help to get full-fledged information such as opportunities, challenges, drivers, COVID 19 analysis, regional analysis, competitive landscape, and others. All the information is collected from reliable primary and secondary sources to provide the expected details of the 5G Chipset market analysis.
|Market Size||USD 133.50 Billion by (2030)|
|CAGR||25.50% from (2022-2030)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Operational Frequency|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Analog Devices Inc (US), Broadcom Inc (US), Huawei Technologies Co., Ltd (China), MACOM Technology Solutions Holdings Inc (US), Cavium Inc (US), Telefonaktiebolaget LM Ericsson Class B (Sweden), Fujitsu Ltd (Japan), ZTE Corporation (China), Hewlett Packard Enterprise Co (US), KT Corp (South Korea)|
|Key Market Opportunities||Asia-pacific is expected to dominate the 5G chipset market during the forecast period. \r\n The commercialization and deployment of 5G tend to provide a broad set of opportunities for both the enterprises as well as the consumers.|
|Key Market Drivers||The factors supporting the growth of 5G chipsets market include the growing demand for high-speed internet, and need for reduced power consumption and latency rate while accessing mobile internet.|
MACOM Technology Solutions Holdings Inc (US), Huawei Technologies Co., Ltd (China), Telefonaktiebolaget LM Ericsson Class B (Sweden), and Cavium Inc (US) are prompting market advancement.
A CAGR of 25.50% is estimated to put the market’s growth into perspective in the forecast period.
The Asia Pacific region is estimated to create a promising scope for expansion in the coming period.
The need for high-speed internet is expected to motivate the market in the upcoming period.
The improvement in connected devices is estimated to guide the growth pace in the global market.
5G chipsets enable rapid increase in amount of data transmitted over wireless systems
5G is the latest cellular technology which is expected to increase speed and responsiveness of the wireless network. With the implementation of 5G data, data transmitted over wireless broadband connections travels as high as expected to travel at maximum rate of 20 Gbps.
The 5G microchip market was evaluated at USD 1.21 billion in 2017. The market is expected to grow at a swift speed, with a CAGR of 25.50% in the coming years. The market value is anticipated to reach around USD 133.50 billion by the end of 2030.