5G Chipset Market with highest growth in the near future by Top Players Broadcom, Huawei Technologies, Infineon Technologies, International Business Machines, MediaTek

The global 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.

Geographically, North America holds the largest 5G chipset market share, owing to rapid technological developments, numerous investments, and supportive Government policies in North American countries. However, Asia Pacific is projected to surpass North America over the forecast period. The government in this region are taking several initiatives such as investment funding are undertaken by the players to promote entire semiconductor industrial growth. The growth of in this region is driven by high demand for more semiconductor applications in automotive, industrial, consumer goods, and other electronic products including wireless, storage products.

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The List of Companies
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.

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.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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