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5G Chipset Market Report 2024 To 2033 | Size, Key Players Qorvo Inc., Qualcomm Technologies Inc., Huawei Technologies Co. Ltd.
5G Chipset Market Outlook
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According to The Business Research Company's, The 5g chipset market size has grown exponentially in recent years. It will grow from $12.87 billion in 2023 to $17.2 billion in 2024 at a compound annual growth rate (CAGR) of 33.7%. The growth in the historic period can be attributed to evolution of mobile communication standards, increasing demand for higher data transfer rates, proliferation of internet of things (iot) devices, growth of mobile broadband services, development of smart cities and connected infrastructure.
The 5g chipset market size is expected to see exponential growth in the next few years. It will grow to $51.95 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%. The growth in the forecast period can be attributed to adoption of 5g in industrial automation and iot, expansion of 5g networks for enhanced mobile connectivity, rise in demand for low-latency and high-bandwidth applications, integration of 5g in autonomous vehicles and smart transportation, growing deployment of 5g in rural and remote areas. Major trends in the forecast period include emergence of mmwave technology in 5g chipsets, development of energy-efficient and compact 5g chipsets, integration of artificial intelligence (ai) in 5g chipset design, focus on open ran (radio access network) architectures, implementation of 5g chipsets for fixed wireless access (fwa).
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Market Drivers and Trends:
The growing mobile data traffic is significantly contributing to the growth of the 5G chipset market. Mobile data traffic refers to the amount of data flowing across a network within the entire internet at a given point in time. The expanding mobile data traffic necessitates improved mobile network performance and data connectivity, which will be maintained in future 5G network generations, thereby propelling the development of 5G chipsets. For instance, according to the Ericsson Mobility Report, a Sweden-based telecommunications company, global mobile data traffic is estimated to reach 288EB per month, a growth by a factor of around 4.4 by 2027. Therefore, the growing mobile data traffic is expected to propel the growth of the 5G chipset market going forward.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Qorvo Inc., Qualcomm Technologies Inc., Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., UNISOC Communications Inc., Intel Corporation, MediaTek Inc., Infineon Technologies AG, Xilinx Inc., NOKIA CORPORATION, Skyworks Solutions Inc., NXP Semiconductors, Advanced Micro Devices Inc., International Business Machines Corporation, Broadcom Inc., Marvell Technology Group Ltd., Analog Devices Inc., Renesas Electronics Corporation, Fujitsu Limited, Integrated Device Technology Inc., Texas Instruments Incorporated, STMicroelectronics N. V., Murata Manufacturing Co. Ltd., Cavium Inc., MACOM Technology Solutions Holdings Inc., Anokiwave Inc., Sequans Communications S. A., MaxLinear Inc., Inseego Corp., Sierra Wireless Inc., Telit Communications PLC, Quectel Wireless Solutions Co. Ltd., Fibocom Wireless Inc.
5G Chipset Market 2024 Key Insights:
• The 5g chipset market size is expected to see exponential growth in the next few years. It will grow to $51.95 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%.
• Surging Mobile Data Traffic Fuels Robust Growth In The 5G Chipset Market
• Pioneering Product Innovations Propel The 5G Chipset Market Forward
• Asia-Pacific was the largest region in the 5G chipset market in 2023
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