Global Multimedia Chipsets Market to Reach US$40.9 bn by 2023, Driven by Escalating Demand for Consumer Electronics

Transparency Market Research, in a report titled “Multimedia Chipsets Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” states that the global multimedia chipsets market is anticipated to expand at a 6.60% CAGR from 2015 to 2023, rising from a value of US$22.9 bn in 2014 to US$40.9 bn by 2023.Multimedia chipsets deal with video and audio processing and are used in a wide range of electronic devices. The use of these chipsets reduces the cost of the devices and also helps differentiate them from other electronic devices.

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Multimedia chipsets facilitate better video resolution and faster transmission of data in a cost-effective way. The growing demand for portable and handheld consumer electronic devices and their declining prices have resulted in the rapid growth of the multimedia chipsets market. The increase in disposable income in several developing countries has also contributed to the global market. In contrast, the high fixed cost associated with the setting up of a production unit is hampering the growth of the multimedia chipsets market. Nevertheless, the mounting demand for wearable devices is a massive opportunity that players hope will help overcome the shortcomings of the market.

By function, the multimedia chipsets market is bifurcated into graphics chipsets and audio chipsets. Graphics chipsets hold the largest share in the overall market owing to the increasing demand from the gaming industry and the rising trend of watching videos and movies online.

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On the basis of application, the multimedia chipsets market is divided into set-top box and IPTV, digital cable TV, handheld devices, home media players (video and audio), and others. Accounting for the largest share in 2014, handheld devices dominate the multimedia chipsets market, driven by the surging demand for tablets, smartphones, and gaming consoles.

The global multimedia chipsets market is geographically segmented into Europe, North America, Latin America, the Middle East and Africa, and Asia Pacific. Accounting for 46.04% of the global market in 2014, Asia Pacific dominates the multimedia chipsets market in terms of revenue. The market in this region is projected to expand at a 6.80% CAGR from 2015 to 2023, fueled mainly by the rising investment in the system on chip manufacturing technology. Asia Pacific is also a major hub for manufacturers of semiconductors, further augmenting the multimedia chipsets market in this region. North America is the second largest multimedia chipsets market and in 2014 accounted for a 22.21% share in terms of revenue.

The Middle East and Africa market for multimedia chipsets was the most rapidly expanding regional segment in 2014, driven primarily by the increasing IPTV and set-top box subscriptions and the rising demand for satellite TV.

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Some of the leading players actively participating in the global multimedia chipsets market are Realtek Semiconductor Corp., Intel Corporation, Advanced Micro Devices Inc., Qualcomm Inc., Cirrus Logic Inc., and NVIDIA Corporation. These players have been profiled in the report based on attributes such as company overview, financial standing, business strategies, recent developments, and a SWOT analysis.

Global Multimedia Chipsets Market by Function

Audio chipsets
Graphics chipsets

Global Multimedia Chipsets Market by Application

Digital cable TV
Set top box and IPTV
Home media players (audio and video)
Handheld devices
Others

Global Multimedia Chipsets Market by Geography

North America
U.S
Others
Europe
U.K
Italy
France
Others
Asia Pacific
China
India
Japan
Others
Middle East and Africa
Latin America

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