In 2021, the global 5G chipset market demonstrated its potential with a size of US$ 13.9 billion. The market is set to embark on a remarkable journey, as projections indicate a substantial expansion to US$ 75.5 billion by 2030. This growth is underpinned by an impressive compound annual growth rate (CAGR) of 25.1% during the forecast period from 2022 to 2030.
Get a Free Sample PDF copy of the report @https://reportocean.com/industry-verticals/sample-request?report_id=Pol1317
Unlocking the Power of 5G Chipsets
5G chipsets, consisting of integrated circuits housing various electronic components, are pivotal in governing data flow management systems. They play a crucial role in ensuring efficient data processing within devices, making them essential components in the age of 5G technology.
Factors Influencing the Market
The 5G chipset market is poised for growth due to several key drivers:
- High-Speed Internet Demand: The market is expected to flourish owing to the increasing demand for high-speed internet. The wide-reaching network coverage for applications such as telemedicine, augmented reality, multiuser gaming, autonomous driving, distance learning, and telemedicine is expected to fuel market growth.
- Rising Need for Data Transfer: The surging demand for mobile broadband technology, high-speed data transfer, and data processing underpins the development of 5G wireless technology. Growing disposable incomes and the demand for smart technology further contribute to the market’s growth.
- Consumer Electronics and B2B Communication: The growing adoption of 5G technology in consumer electronic devices and business-to-business (B2B) communication systems presents significant growth opportunities for the 5G chipset market.
- Cost Constraints: However, the high cost of 5G chipsets may present challenges to the widespread adoption of the technology during the forecast period.
Impact of COVID-19
The COVID-19 pandemic left a significant imprint on the 5G chipset market. While it created challenges, it also led to an increase in demand for three-dimensional printing solutions across various industries. However, the pandemic brought about issues related to the shortage of skilled labor and delays or cancellations of projects due to lockdowns around the world.
Regional Analysis
The Asia-Pacific region is expected to dominate the 5G chipset market. Rapid innovations, strategic steps, and government efforts to roll out 5G technology provide a conducive environment for market growth. Furthermore, 5G networks are being established in numerous countries across the region, paving the way for significant global market contributions.
Key Market Competitors
Prominent companies in the 5G chipset market include:
- Qualcomm Incorporated
- Intel Corporation
- Huawei Technologies Co., Ltd.
- Samsung Electronics Co., Ltd.
- MediaTek Inc.
- Infineon Technologies AG
- Unisoc Communications, Inc.
- Xilinx Inc.
- Qorvo, Inc.
Market Segmentation
The global 5G chipset market is segmented based on frequency, processing node, end-users, and regions:
- Frequency Type:
- Sub-6GHz
- mmWave
- Sub-6GHz + mmWave
- Processing Node Type:
- 7 nm
- 10 nm
- Others
- End-users:
- Manufacturing
- Healthcare
- IT and telecom
- Energy and Utilities
- Automotive and Transportation
- Supply Chain and Logistics
- Government and Public Safety
- Agriculture
About Report Ocean
Report Ocean is a trusted provider of market research reports, delivering high-quality insights to clients across various industries. Their mission is to help clients achieve their top-line and bottom-line objectives, ultimately enhancing their market share in today’s competitive landscape. Report Ocean is a reliable source for innovative market research reports, offering a comprehensive solution to individuals, organizations, and industries seeking valuable market intelligence.