With 17.4% CAGR, 5G Chipsets Market Growth to Surpass USD 81.0 billion

The 5G Chipsets market is estimated to reach USD 81.0 billion by 2028, growing at a CAGR of 17.4% from 2023 to 2028. The speed and reliability of 5G are expected to have a massive impact on machine-to-machine (M2M), IoT, and smartphones. 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 handle billions of nodes that are anticipated to ascend in the next couple of years to achieve effective communication.

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The Non-mobile segment is estimated to grow at healthy rate in the global 5G Chipsets market. Currently, the network capacity is incapable of handling M2M and human-based communications and 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., a 5G network). M2M communication technology will be widely used in heavy manufacturing 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.

Based on RFICs, RF Transceivers segment has been estimated to grow at the highest rate. An RF transceiver, an integral part of RFIC, is going through a thorough modification in design, size, and cost because of its requirement in technologies such as massive MIMO, beamforming, and multiband communication. RF transceivers are contributing to the changing dynamics of wireless communication by offering a wider frequency range that provides engineers with the flexibility to design applications across a broad frequency band.

Asia Pacific is growing at healthy rate in the global 5G Chipsets market. The growth of the 5G chipsets market in Asia Pacific is mainly driven by the growing number of developments (such as R&D activities, investments, and partnerships among companies) related to 5G in countries such as Japan, China, and South Korea. Companies such as ZTE (China), Huawei (China), Ericsson (Sweden), and Nokia (Finland) are heavily investing in 5G and initiating field trials with some of the leading mobile services carriers, such as China Mobile (China), SoftBank (Japan), and China Unicom (China). Such developments will create opportunities for the 5G chipsets market to grow in Asia Pacific.

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The continuous development of cellular networks has enabled users to experience faster data rates with low latency. The rapid rise in data volume has been largely driven by consumer demand for videos and business and consumer moves to use cloud services. With peak data rates of up to 20 gigabits per second (Gbps) and average data rates of more than 100 megabits per second (Mbps), 5G has the potential to be much faster than 4G. Above 4G, 5G has a higher capacity. A 100x increase in network efficiency and traffic capacity is what 5G supports. Thus, it is expected to gain sizable traction in the years to come.

News also Covered: https://finance.yahoo.com/news/5g-chipsets-market-worth-81-163000235.html

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