5G Chipset Market to Witness the Highest Growth in Europe Region

The 5G chipset market is Europe is projected to grow from USD 1.2 billion in 2020 to USD 11.6 billion by 2027; it is expected to grow at a CAGR of 38.1% from 2020 to 2027.

The emerging application of 5G across the end-use sectors in the European region is driving the deployment of 5G networks. Germany is among the top five markets for industrial robots, with more than 28,000 robots shipped across sectors, including logistics and supply chain. This acts as a major driver for the 5G chipset market in Germany, as 5G will be used to communicate with robots.

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By type, RFIC segment is projected to hold the highest share in the Europe 5G chipset market during the forecast period

The 5G chipset market for RFIC, which includes RF transceivers and RF FE, is expected to account for the largest share in Europe. The mobile devices and telecommunication infrastructure segments are expected to be the major contributors to the growth of the RFIC market. The increasing number of RF transceiver ICs in smartphones is the key factor that is expected to drive the growth of the 5G chipset market for RFIC in Europe.

By end use, the automobile segment in Europe's 5G chipset market is stipulated to witness a high growth rate

5G is expected to play a crucial role in the transformation of the European automotive industry by developing new applications that are difficult to develop with the current generation of cellular technologies. 5G can allow system and application developers to build a wide range of applications; the major applications include vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), and vehicle-to-network (V2N). These applications of 5G would further help in the development of other applications, such as automated driving, digital logistics, and intelligent navigation. 5G network provides fast connectivity at low latency. Moreover, 5G network data transfer rate is higher than that of the previous generation. Hence, 5G will play an integral role in autonomous driving across Europe.

UK is projected to witness the highest market share in the Europe market from 2020 to 2027

In the UK, more cities are transforming into smart cities owing to favorable economic, social, and technological factors. The key focus sectors include transportation, energy, healthcare, and water. Some of the key smart cities in the UK include London, Bristol, Birmingham, Glasgow, Manchester, and Milton Keynes. The government is striving for more innovations in the development of smart cities and new technologies, including IoT and autonomous cars, which would provide considerable opportunities for 5G chipset providers to generate revenue.

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Key Players in the Market

The key players operating in the Europe 5G chipset market are Qualcomm, Inc. (US), Analog Devices (US), Qorvo, Inc. (US), Skyworks Solutions (US), and Huawei Investment & Holding Co., Ltd. (China) among others.
o In September 2022, German carrier Deutsche Telekom announced its plan to launch its own 5G smartphones across its European footprint with the aim of increasing consumer access to 5G. The T Phone 5G smartphone was produced in collaboration with Google and was commercially available from October 5 in Austria; Croatia; Czech Republic; Hungary; Montenegro; North Macedonia; Poland; Romania, and Slovakia. Deutsche Telekom also announced it plans to make the 5G smartphones available in Germany in early 2023.
o In May 2022, Qualcomm Technologies, Three Austria, and ZTE successfully executed a 5G network demonstration using a standalone (SA) coverage layer based on 700MHz (n28) and the world's first supplemental downlink (SDL) band 1400MHz (n75), significantly boosting rural throughput and the capacity of standalone mode NR.

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This release was published on openPR.