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Global 5G Chipset Market Projected to Grow at 32.1% CAGR, Reaching $67.94 Billion by 2029
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.What Will the 5G Chipset Industry Market Size Be by 2025?
The size of the 5G chipset market has witnessed substantial growth lately. The market value is projected to increase from $16.88 billion in 2024 to $22.29 billion in 2025, showing a compound annual growth rate (CAGR) of 32.0%. This substantial growth in the past period can be linked to the progression of mobile communication frameworks, a rise in demand for faster data transfer rates, the influx of internet of things (IoT) devices, the expansion of mobile broadband services, and the creation of smart cities and interconnected infrastructure.
What's the Long-Term Growth Forecast for the 5G Chipset Market Size Through 2029?
The value of the 5G chipset market is anticipated to surge significantly in the coming years, with projections placing it at $67.94 billion in 2029, sustaining a compound annual growth rate (CAGR) of 32.1%. This growth during the forecast period could be attributed to factors like industrial automation and Internet of Things (IoT) adopting 5G, the expansion of 5G networks to improve mobile connectivity, increasing demand for applications with less latency and higher bandwidth, integrating 5G in self-driving vehicles and smart transportation, and growing 5G deployment in remote and rural regions. Leading trends throughout this period include the entry of mmWave technology in the 5G chipset sector, the creation of compact and energy-efficient 5G chipsets, the integration of artificial intelligence (AI) into 5G chipset design, a focus on open ran (radio access network) structures, and the implementation of 5G chipsets for fixed wireless access (FWA).
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What Are the Key Growth Drivers Fueling the 5G Chipset Market Expansion?
The surge in mobile data traffic is a significant driver of the growth in the 5G chipsets industry. The volume of data moving across networks at any one time, referred to as mobile data traffic, is increasing. This acceleration necessitates better mobile network performance and data connectivity, key features of future 5G networks that will fuel the evolution of 5G chipsets. For instance, a report by Telefonaktiebolaget LM Ericsson, a networking and telecommunications company based in Sweden, predicted in November 2023 that global mobile data traffic will triple by 2029. The report further expects 5G subscriptions to exceed 5.3 billion and the average smartphone data consumption to increase from 21GB to 56GB per month between 2023 and 2029. Consequently, the upsurge in mobile data traffic is anticipated to fuel the expansion of the 5G chipset market in the future.
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What Are the Key Trends Driving 5G Chipset Market Growth?
The 5G chipset market is currently witnessing a surge in product innovations, a trend that's proving popular among market dominants. Big players are formulating creative products to foster market growth. For example, Qualcomm Technologies, Inc., an American firm specializing in wireless telecommunications products and services, introduced the Snapdragon 4s Gen 2 chipset in July 2024. The chipset's purpose is to fuel cost-effective 5G smartphones, providing standalone (SA) 5G network compatibility for as low as Rs 8,300. Its importance is underscored by its potential to boost 5G accessibility, thereby making state-of-the-art mobile technology reach broader audiences, particularly in evolving markets such as India. This also sets up a competitive landscape against MediaTek in the budget-prioritized sector.
How Is the 5G Chipset Market Segmented?
The 5G chipsetmarket covered in this report is segmented -
1) By Integrated Circuit: Radio Frequency Integrated Circuit (RFIC), Application-Specific Integrated Circuit (ASIC), Cellular Integrated Circuit (Cellular IC), Millimeter Wave Integrated Circuit (mmWave IC)
2) By Operational Frequency: Sub 6GHz, Between 26 and 39 Ghz, Above 39 Ghz
3) By Vertical: Manufacturing, Energy And Utilities, Media And Entertainment, IT And Telecom, Transportation And Logistics, Healthcare, Other Verticals
Subsegments:
1) By Radio Frequency Integrated Circuit (RFIC): Power Amplifiers (PAs), Low Noise Amplifiers (LNAs), Transmitters, Receivers
2) By Application-Specific Integrated Circuit (ASIC): Digital ASICs, Analog ASICs, Mixed-Signal ASICs
3) By Cellular Integrated Circuit (Cellular IC): Modems, Baseband Processors, RF Transceivers
4) By Millimeter Wave Integrated Circuit (mmWave IC): mmWave Transceivers, mmWave Amplifiers, mmWave Antennas
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Which Companies Are Leading the Charge in 5G Chipset Market Innovation?
Major companies operating in the 5G chipset market include 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.
Which Regions Are Leading the Global 5G Chipset Market in Revenue?
Asia-Pacific was the largest region in the 5G chipset market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the 5G chipset market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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