5G Chipset Market is Anticipated to Document a Prodigious CAGR of 25.5% During the Period of 2022-2032

According to a recent study done by FMI, the 5G chipset market is expected to reach US$ 180 Billion by 2032, up from US$ 21 Billion in 2022, expanding at a high CAGR of 25.5%. This study explains that the rising demand for high-speed internet and large network coverage for several applications, such as distance learning, autonomous driving, multiuser gaming, videoconferencing, live streaming, telemedicine, and augmented reality, is expected to propel the growth of the 5G chipset market.

The speed and reliability of 5G are expected to have a massive impact on machine-to-machine (M2M) and IoT. Key reasons for the increased adoption of new M2M technologies are better connectivity for smooth communication and low power requirement. The existing capacity of mobile networks must be able to handle billions of nodes that are expected to ascend in the next couple of years to achieve effective M2M communication.

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Currently, the network capacity is incapable of handling M2M and human-based communications, as well as their different communication patterns such as latency time. For this reason, a next-level cellular network for mobile communication, featuring hyper-connectivity and larger bandwidth, is required (e.g., 5G network).

M2M communication technology will be widely used in heavy manufacturing industries and process industries (e.g., food industries) to increase the efficiency of different processes and reduce human interference with machines. M2M communication is thus expected to drive the 5G chipset market.

Key Takeaways from the Market Study

Global 5G chipset market worth to experience over 8x growth until 2032
By frequency, sales of sub-6 GHz 5G chipsets to accelerate at a 23.2% value CAGR
Asia Pacific to be the most opportunistic region for market growth, registering a CAGR of 25.5%
U.S to emerge as the dominant market, yielding US$ 69 Billion in value by 2032
China to be the most lucrative market in APAC, documenting a 24.6% CAGR
Japan & South Korea to yield dollar opportunities worth US$ 10 Billion and US$ 7 Billion respectively

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Competitive Landscape

Players in the global 5G Chipset Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market. Some of the recent developments among the key players are:

In September 2020, Qualcomm launched a new 5G mobile platform in the 7-series, the Snapdragon 750G 5G Mobile Platform, which enables 5G with brilliant HDR gaming and on-device AI.
In June 2020, Nokia announced a collaboration with Broadcom for the custom system-on-chip solutions for the vendor's ReefShark-powered portfolio.

In June 2021, Samsung Electronics unveiled a new range of new chipsets that will be embedded into the company's next generation 5G solutions. The new 3GPP Rel.16 compliant chipsets consist of a third generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, a second generation 5G modem System-on-Chip (SoC) and a Digital Front End (DFE)-RFIC integrated chip.
Know More About What the 5G Chipset Market Repost Covers

Future Market Insights offers an unbiased analysis of the global 5G chipset market, providing historical data for 2015-2021 and forecast statistics from 2022-2032.

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Key Segments Covered In The 5G Chipset Market Report

5G Chipset Market by Type:

5G Chipset Modem
5G Chipset RFIC
5G Chipset Market by Process Node:

5G Chipsets less than 10 nm
5G Chipsets between 10-28 nm
5G Chipsets above 28 nm
5G Chipset Market by Frequency:

Sub-6 GHz 5G Chipset
24-39 GHz 5G Chipset
Above 39 GHz 5G Chipset
5G Chipset Market by Application:

5G Chipset for Telecommunications
5G Chipset for Mobile Devices
5G Chipset for Non-Mobile Devices
5G Chipset for Automobiles
5G Chipset Market by Region:

North America 5G Chipset Market
Latin America 5G Chipset Market
Europe 5G Chipset Market
Asia Pacific 5G Chipset Market
Middle East and Africa 5G Chipset Market

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years

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This release was published on openPR.