Growing deployment of 5G infrastructure and proliferation of IoT and connected devices are expected to increase the demand for 5G Chipset Market during the forecast period of 2024-2028.
According to TechSci Research report, “5G Chipset Market – Global Industry Size, Share, Trends, Opportunity, and Forecast 2018–2028”, the Global 5G Chipset Market is expected to register a robust growth during the forecast period, 2024-2028. The 5G Chipset Market is expected to increase in coming years owing to the rising demand for high-speed data services, developing smartphone technologies, and government initiatives for smart cities along with the partnerships among key players for the proliferation of 5G deployment.
Moreover, various telecommunication companies are investing in deploying a 5G network infrastructure to provide high speed for their customers all across the globe, led to the widespread adoption of 5G enabled devices across the globe, which would subsequently increase the demand for 5G chipsets over the forecast period.
The growing penetration of internet services in education, entertainment and health monitoring is driving the demand for smartphones in the global market. To fulfil these services unimpeded, several technological companies such as Fujitsu, Broadcom and Qualcomm are investing in 5G technology which ultimately increases the demand for 5G Chipsets globally.
Furthermore, the prices of 5G smartphone chipsets are likely to be more expensive as compared to 4G ones. Therefore, its high cost is one of the factors that hinders the growth of Global 5G Chipset Market.
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Global 5G Chipset Market is segmented into IC Type, Operational Frequency, Deployment Type, Industry Vertical, and region.
On the basis of IC, the ASIC segment is expected to be dominant in the Global 5G Chipset Market because ASIC can offer lowering electricity supply cost, greater performance, and also reduce the footprint of materials and increased reliability. Moreover, ASIC offers higher security and proves to be cheaper than implementing design using FPGA.
Furthermore, companies can significantly lower their bill of materials and enhance the performance of their 5G chipsets by adding an ASIC. In addition to being less expensive, an ASIC-based product requires fewer electronic components and is easier to manufacture. As fewer component vendors are involved in the creation of the product thanks to the use of ASICs in 5G chipsets, production planning and purchasing are also made easier. As a result of all these advantages provided by ASIC, there is a growth in the demand for 5G chipsets and ASIC.
On the basis of industry vertical, the consumer electronics and industrial automation are the prominent segment in the Global 5G Chipset Market. The rise in demand for consumer electronics such as smart televisions, smartphones, and other electronics offers lucrative opportunities for the 5G chipset market, globally.
Additionally, due to shorter product and company lifecycles and high business volatility, manufacturing organizations worldwide are under a lot of strain. As the workforce ages and components become more diverse and difficult to manufacture, profit margins are being squeezed. The 5G network and the Internet of Things (IoT) are projected to improve the business issues related to industrial automation. The improved network gives manufacturers the chance to develop smart factories and make use of cutting-edge technologies such as automation, augmented reality, machine learning, and artificial intelligence (AI).
On the basis of regional analysis, North America is expected to dominate the Global 5G Chipset Market owing to the high rate of adoption of advanced technologies in the market. The development of smart cities, smart industries, and smart households are all attracting significant investment in the United States. The popularity of high-graphics online gaming is rising at the same time among American customers. Additionally, the nation is emerging as an early user of smart transportation infrastructure and self-driving cars. All these advances are anticipated to increase North American demand for 5G chipset components.
Major market players operating in the Global 5G Chipset Market are:
- Broadcom Inc.
- Mediatek Inc.
- Intel Corporation
- Samsung Electronics Co., Ltd.
- Qorvo, Inc.
- Huawei Investment & Holding Co., Ltd.
- Advanced Micro Devices, Inc.
- Analog Devices, Inc.
- NXP Semiconductors N.V.
- Marvell Technology Group
- Qualcomm, Inc.
- Murata Manufacturing Co., Ltd.
- Infineon Technologies AG.
- MACOM Technology Solutions Holdings Inc.Anokiwave
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“The fifth generation of cellular technology, or 5G, is giving consumers and businesses opportunities they have never had before. In order to support the rising demand for high-speed mobile broadband, resilient 5G networks will be required. Furthermore, the need for 5G chipsets is anticipated to rise globally as a result of increased government efforts, rising mobile data traffic, and rising numbers of Internet of Things (IoT)-connected devices.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“5G Chipset Market – Global Industry Size, Share, Trends, Opportunities, and Forecast 2018-2028, Segmented By IC Type (ASIC, RFIC, Cellular IC and mmWave IC), By Operational Frequency (Sub 6GHz, between 26 & 39 GHz, Above 39GHz), By Deployment Type (Device, Customer Premises Equipment, and Network Infrastructure Equipment), By Industry Vertical (Automotive & Transportation, Energy & Utilities, Healthcare, , Consumer Electronics, Industrial Automation, and Others), By Region, Competition”, has evaluated the future growth potential of Global 5G Chipset Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global 5G Chipset Market.
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