5G Chipset Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4219
5G Chipset Market size is set to experience fast growth from 2021 to 2027 accelerated by the widespread efforts to deploy 5G services and infrastructure. The rise of 5G is driven by the demand for highspeed wireless connectivity, seamless data transfer capabilities, and broader network coverage. The growth in 5G adoption and the subsequent rise in cellular IoT connections and mobile data traffic will foster the demand for 5G chipsets. These chipsets are used to enable the transmission of 5G packets on smartphones, IoT devices, portable hotspots, and PCs to deliver advanced mobile network capabilities.
Benefits of 5G technology such as greater data and information processing capability, improved network performance, and robust data connectivity are propelling the market growth. Modern wireless applications demand faster data rates with ultralow latency. The exponentially rising volumes of data due to the increase in video content, cloud acceptance, AI, IoT, and AR/VR applications will create a profitable outlook for 5G chipset suppliers. Also, smart city development project will open up promising opportunities for vendors globally.
Consumer electronics applications will account for a substantial share of the market through 2027. This is credited to the growing consumer demand for 5G-ready smartphones, laptops, and other mobile devices. Modern wireless applications such as teleworking, videoconferencing, distant learning, media streaming, and others rely heavily on highspeed and seamless internet connectivity. As a result, the demand for 5G chipsets in consumer tech is increasing. To meet this demand, manufacturers are expected to accelerating innovation efforts. For example, back in January 2019, Huawei had launched the Balong 5000 multimode 5G chipset to power wireless connections for smartphones and other devices.
North America 5G chipset market is predicted to progress at a rapid rate throughout the forecast period. The regional demand is led by the fast-growing automotive and consumer electronics sectors. Numerous major smartphone makers have already started rolling out 5G smartphones in the market. In addition, developments in the field of autonomous vehicles and smart connected cars are also gaining momentum. Ongoing 5G deployment efforts will further drive up this demand. For instance, in June 2021, the U.S. President Joe Biden announced a USD 65 billion investment to roll out new 5G broadband infrastructure across the region.
Qualcomm, Huawei, Intel, MediaTek, and Samsung Electronics are among the leading manufacturers of 5G chipsets in the world.
Latest market developments:
- Intel unveiled the new Atom P5900 system-on-chip (SoC) for 5G wireless base stations in February 2020. It is a 10 nm SoC that could play an important role in large-scale 5G rollouts.
- In February 2021, Qualcomm launched the Snapdragon X65, its latest 5G modem-RF chipset that boasts of 5G data rates of up to 10 Gbps.
- MediaTek rolled out the latest Dimensity 900 5G chipset in May 2021. The high-performance chipset supports ultra-fast FHD+ 120Hz displays and wi-fi 6 connectivity.
Opportunities & challenges amid COVID-19
The pandemic has given significant boost to the use of wireless applications including remote working, distancing, telemedicine, videoconferencing, and live streaming due to government enforced lockdown restrictions. These factors have had positive impact on the industry. However, the slowdown of 5G deployment efforts has posed numerous hurdles for manufacturers, besides other challenges such as supply chain issues, workforces shortages, and restrictions on movement.
5G chipset market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2021 to 2027 for the following segments:
Market, By IC Type
- Millimeter Wave IC
Market, By Frequency
- Low frequency
- High frequency
- Millimeter wave bands
Market, By Application
- Consumer electronics
- Retail and enterprises
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- South Africa
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