5G Chipset Market Will Hit at a Volume CAGR 41.0% From 2027 – Broadcom, Huawei Technologies, MediaTek, Nokia, Qualcomm Incorporated, Samsung Electronics, Telefonaktiebolaget LM, Ericsson and Xilinx

5G Chipset Market is estimated to account US$ 1.03 Bn in 2019 and is expected to grow at a CAGR of 41.0% during the forecast period 2020 – 2027, to account to US$ 22.86 Bn by 2027.

In the present scenario, 5G chipset is in the concluding phase of testing. These chipsets operate over data speed that is 50 to 100 times more than the 4G counterpart. The global 5G chipset market is majorly driven by exponentially growing needs of the consumer electronic devices that has boosted the manufacturing prospects and convergence of the electronics and automotive industry driving the quest for semiconductor industry.

However, the rapidly changing nature of technology requires consistent changes in semiconductors. Also, the growth of technologies including Artificial Intelligence, IoT and connected devices across industry verticals are projected to offer considerable opportunities to the players in the 5G chipset market.

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Top Dominating Key Players:

1. Broadcom, Inc.
2. Huawei Technologies Co., Ltd.
3. Infineon Technologies AG
4. International Business Machines Corporation
5. MediaTek Inc.
6. Nokia Corporation
7. Qualcomm Incorporated
8. Samsung Electronics Co., Ltd.
9. Telefonaktiebolaget LM Ericsson
10. Xilinx, Inc.

5G is gaining popularity as it is able to address a few key challenges of the network operators while offering mobile broadband. These challenges include cost-effective functionality for managing the ever-growing traffic on the network, aid to meet expectations of speed and quality over the network, and also monetize customer value in the highly competitive market landscape. In the past few years, the mobile data consumption has witnessed exponential growth.

On a global level, that data traffic rate has grown at an annual rate of approximately more than 65% over the last five years. Also, the exponential growth in data traffic over the internet is attributed to the growth in smartphone and other consumer electronic devices penetration that are able to be connected over the internet with the introduction of IoT.

The Governments of various emerging economies globally have realized the potentials of 5G solutions and its impact on the GDP of the country. Also, it is projected that owing to digitalization of businesses, huge jobs would be created that would render a positive impact on the economy. Tele Brasil, which is the Brazilian Telecommunications Association has signed an agreement with China, the US, European Union, Japan and South Korea to develop 5G technology in the country. Also, the Brazilian Government has established a partnership with Ericsson for building an innovation center focused on 5G and IoT.

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Some of the factors propelling the market for 5G chipsets include the rise in need for internet coverage with reduced power consumption, rise in the demand for high speed network, growing M2M/IoT connections, and rising in demand for mobile data services.

However, high cost of hardware in the terrestrial network densification is a key challenge that is restraining the growth of the 5G chipset market. Moreover, strategic alliances in the emerging economies is anticipated to be opportunistic for the 5G chipset market.

Global 5G Chipset Market Segmentation :

Global 5G Chipset Market – By Operation Frequency

• Sub-6 GHz
• Between 26 and 39 GHz
• Above 39 GHz

Global 5G Chipset Market – By Product

• Devices
• Customer Premises Equipment
• Network Infrastructure Equipment

Global 5G Chipset Market – By End-User

• Automotive & Transportation
• Energy & Utilities
• Healthcare
• Retail
• Building Automation
• Industrial Automation
• Consumer Electronics
• Public Safety & Surveillance

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What our report offers:

• Learn about the driving factors, affecting the market growth.
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• Envision the restrictions and restrains that are likely to hamper the market.

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This release was published on openPR.