Global Multi-Mode Chipset Market Set to Reach USD17.2 Billion by 2031, Fueled by 5G Adoption and Wireless Connectivity Demand | HiSilicon Technologies, Intel Corporation, Qualcomm Technologies Inc., Samsung Group

The global multi-mode chipset market is poised for remarkable growth over the coming decade. Valued at US$ 5.8 billion in 2022, the industry is expected to grow at a compound annual growth rate (CAGR) of 13.0% from 2023 to 2031, reaching an estimated valuation of US$ 17.2 billion by the end of 2031. This surge is fueled by the accelerating adoption of 5G technology, increased R&D investments, and the growing demand for versatile wireless connectivity solutions that support multiple communication standards.

Market Overview: A multi-mode chipset is an integrated circuit that supports several wireless communication technologies within a single chip. This includes Wi-Fi, Bluetooth, 3G, 4G, and increasingly 5G networks. By integrating these capabilities, multi-mode chipsets enable devices to seamlessly switch between different network types, enhancing connectivity and device versatility.
These chipsets play a pivotal role in modern electronics by supporting a wide range of applications from smartphones and tablets to wearable devices and IoT gadgets allowing them to operate efficiently in diverse network environments.

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Market Drivers & Trends

Increase in Adoption of 5G Devices
The growing global rollout of 5G networks is the primary catalyst for the multi-mode chipset market. Telecommunication companies worldwide are aggressively deploying 5G infrastructure to meet the soaring demand for high-speed data transfer and low latency. Multi-mode chipsets supporting 5G and legacy networks enable devices to utilize faster and more reliable communication channels, propelling market demand.

R&D of New Products
Continuous innovation in chipset technology has led to the development of advanced multi-mode chipsets with improved power efficiency, higher data transmission rates, and better interoperability. These innovations support emerging technologies such as autonomous vehicles, smart home appliances, cloud computing, and next-generation computing systems. For instance, Samsung's launch in 2021 of third-generation mmWave RFIC chips and 5G modem SoCs highlights the market's push towards advanced chipsets.

Latest Market Trends

• 5G and Legacy Network Integration: Multi-mode chipsets are evolving to support simultaneous operation on 5G and earlier network generations, ensuring smooth transitions and broad compatibility.
• Enhanced Power Efficiency: Chipset manufacturers are focusing on reducing power consumption to extend device battery life without compromising performance.
• Advanced Security Features: With increasing connectivity, robust security measures integrated at the chipset level are gaining importance to protect sensitive data.
• Generative AI Integration: Qualcomm's recent release of chips tailored for generative AI in mobile devices marks a trend toward specialized multi-mode chipsets that cater to AI workloads and immersive experiences such as AR/VR.

Key Players and Industry Leaders

The multi-mode chipset market is highly competitive, with several key players driving innovation and market expansion:
• HiSilicon Technologies
• Intel Corporation
• Qualcomm Technologies Inc.
• Samsung Group
• MediaTek
• Spreadtrum Communications
• Marvell Technology Group
• Altair Semiconductor, Inc.
• Broadcom Corporation
• GCT Semiconductor Inc.
These companies are heavily investing in R&D to develop reliable, high-performance chipsets that support full automation, ensure network security, and cater to the increasing need for fast connectivity.

Recent Developments

• In February 2024, VeriSilicon partnered with Innobase to launch a dual-mode 5G RedCap/4G LTE modem solution, enhancing connectivity options for a variety of devices.
• In October 2023, Qualcomm introduced two new chips optimized for generative AI applications on PCs, laptops, and flagship Android phones, underscoring the role of multi-mode chipsets in enabling next-gen AI-driven devices.
• In January 2023, Bharat Sanchar Nigam Limited (BSNL) collaborated with Echelon Edge to establish a private 5G network in India, leveraging multi-mode chipset technology for enterprise LTE and 5G services.

Market Opportunities

• Expanding 5G Infrastructure: As more countries accelerate 5G deployment, the demand for compatible multi-mode chipsets will continue to rise, especially in emerging markets.
• IoT and Smart Devices: Growth in smart home devices, wearables, and IoT applications presents opportunities for multi-mode chipsets that support diverse connectivity needs.
• Automotive Industry: The rise of connected and autonomous vehicles calls for chipsets that can handle multiple communication protocols, driving innovation and adoption in this sector.
• AI and AR/VR Integration: The increasing use of AI and immersive technologies in consumer electronics will require specialized multi-mode chipsets capable of handling complex data processing and communication simultaneously.

Future Outlook

The global multi-mode chipset market is expected to witness sustained growth through 2031. The ongoing transition to 5G, combined with innovations in chipset design, will continue to push market expansion. Industry players will likely focus on improving chipsets' power efficiency, security, and AI capabilities to meet the evolving demands of smart devices and automated systems. Emerging economies are also anticipated to become key growth hubs due to increasing investments in telecommunications infrastructure.

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Market Segmentation
• By Application:
o Smartphones
o Tablets
o Wearable Devices
o Others (IoT devices, automotive, smart home gadgets)
• By Region:
o North America
o Europe
o Asia Pacific
o Middle East & Africa
o South America

Regional Insights

North America leads the global market with the largest share as of 2022, thanks to rapid urbanization, a well-developed industrial sector, and strong demand for advanced communication technologies. The U.S. national strategy to roll out 5G and Canada's domestic production of 5G-capable devices have strengthened the region's market position. Mexico is also emerging as a strategic player through innovative business models promoting 5G chipset adoption.
The Asia Pacific region, with its vast population and aggressive 5G rollout in countries like China, India, and South Korea, presents a high-growth market for multi-mode chipsets. Europe's focus on 5G infrastructure and the Middle East's investment in smart city projects are further driving demand.

Why Buy This Report?

This comprehensive market report offers:
• In-depth market analysis with historical data from 2017 to 2021 and forecasts through 2031
• Detailed segmentation and regional insights to identify lucrative growth opportunities
• Profiles of key players with strategic overviews, product portfolios, and recent developments
• Qualitative and quantitative analyses including Porter's Five Forces, value chain, and trend evaluations
• A robust competition landscape to aid strategic decision-making and investment planning

Frequently Asked Questions

Q: What is a multi-mode chipset?
A: A multi-mode chipset is a single integrated circuit that supports multiple wireless communication standards such as Wi-Fi, Bluetooth, 3G, 4G, and 5G within one chip.
Q: What is driving the growth of the multi-mode chipset market?
A: The primary drivers include the increasing adoption of 5G-enabled devices, ongoing R&D for advanced chipsets, and growing demand for versatile wireless communication solutions.
Q: Which region dominates the multi-mode chipset market?
A: North America currently holds the largest market share, due to extensive 5G deployment and strong industrial development.
Q: Who are the leading companies in the multi-mode chipset market?
A: Key players include HiSilicon Technologies, Intel Corporation, Qualcomm Technologies, Samsung Group, MediaTek, and Broadcom Corporation.
Q: How will 5G affect the multi-mode chipset market?
A: The global deployment of 5G networks will significantly boost demand for multi-mode chipsets capable of supporting faster, more reliable communication and legacy network compatibility.

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