Wilmington, Delaware, United States, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The global market for 5G chipsets was estimated to have acquired US$ 28.8 billion in 2021. It is anticipated to advance with a rapid 15.1% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 114.4 billion.
Both individual and business customers prefer high-speed internet. Various businesses can benefit from 5G network's ultra-reliable and low-latency connection. It can increase the number of applications for current technology in both the industrial as well as consumer sectors.
Business apps and other digital services, including online gaming, video conferencing, and self-driving vehicles, function better when connected to a 5G network. It supports a number of 3GPP access technologies, particularly one or more 5G New Radio (NR) variations. These advantages are anticipated to increase demand for 5G networks, resulting in market expansion over the following several years.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 28.8 Bn | |
| Estimated Value | US$ 114.4 Bn | |
| Growth Rate - CAGR | 15.1% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 215 Pages | |
| Market Segmentation | Type, Processing Node, Frequency, Application, End-use Industry | |
| Regions Covered | North America,Europe,Asia Pacific,Middle East & Africa,South America | |
| Companies Covered | Analog Devices, Inc., Apple Inc., Huawei Device Co., Ltd., Intel Corporation, Keysight Technologies, MediaTek Inc., Nokia Corporation, Qorvo, Inc., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., Skyworks Solutions, Inc., u-blox, Unisoc (Shanghai) Technologies Co., Ltd. | |
Key Findings of Market Report
- During the forecast period, the Radio Frequency ICs (RFICs) type segment will likely dominate the market.
- In 2021, the sub-6GHz frequency band had a significant share—80.0%.
- In 2021, North America held a 30.0% share of the global market.
- From 2022 to 2031, Asia Pacific is expected to dominate the industry.
- Specialized uses for sub-6GHz bands include fixed wireless access, industrial IoT, and improved mobile broadband.
Market Trends for 5G Chipset
- In 2021, the sub-6GHz frequency band had the dominant share. Sales of 5G handsets are surging, and infrastructure investments in 5G are rising.
- The South Korean government declared intentions to invest over US$ 26.2 billion over the following four years to promote the 5G ecosystem. Several applications and industry sectors, including autonomous driving, IoT, smart cities, digital healthcare, as well as smart manufacturing, are expected to be supported by this initiative.
- Sub-6GHz describes frequency ranges utilized for the installation of 5G networks which fall below 6 GHz. They are referred to as "mid-band" frequencies and generally fall between 3GHz and 6GHz. Many network providers employ sub-6GHz bands to deliver 5G coverage across vast areas because these are apt to be use for wide area coverage.
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5G Chipset Market Regional Outlook
Various reasons are propelling the growth of the 5G chipset market in different regions. These are:
- From 2022 to 2031, Asia Pacific is expected to dominate the industry. Leading manufacturers' presence, the rapid uptake of 5G networks, and a growth in the use of 5G devices are all expected to boost regional market statistics.
- The need for 5G chipsets in Asia Pacific is anticipated to increase along with increased investment in 5G infrastructure. The Indian Ministry of Communications unveiled plans to invest around $30 billion to ensure that every the village in the nation can access 4G and 5G networks and to build a strong digital infrastructure there.
- In 2021, North America held a significant share. The need for 5G chipsets is rising in the consumer electronics, industrial, as well as automotive & transportation sectors due to the high penetration of 5G networks.
Global 5G Chipset Market: Key Players
Leading 5G chipset producers are putting their efforts into creating cutting-edge node-based chipsets with small transistors, better silicon area usage, and excellent power efficiency. They are also implementing a variety of organic and inorganic initiatives to grow their market share for 5G chipsets.
The following companies are well-known participants in the global 5G chipset market:
- Analog Devices, Inc.
- Apple Inc.
- Huawei Device Co., Ltd.
- Intel Corporation
- Keysight Technologies
- MediaTek Inc.
- Nokia Corporation
- Qorvo, Inc.
- Qualcomm Technologies, Inc.
- Samsung Electronics Co., Ltd.
- Skyworks Solutions, Inc.
- u-blox
- Unisoc (Shanghai) Technologies Co., Ltd.
Developments by the key players in the global market for 5G chipset are:
| Market Player | Year | Key Developments |
| MediaTek Inc. | 2022 |
|
| Qualcomm Technologies, Inc. | 2021 |
|
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Global 5G Chipset Market Segmentation
- Type
- Radio Frequency ICs (RFICs)
- System-on-Chips (SoCs)
- Application-specific Integrated Circuits (ASICs)
- Cellular ICs
- Millimeter-wave (mmWave) ICs
- Processing Node
- Up to 10 nm
- 11 nm to 28 nm
- Above 28 nm
- Frequency
- Sub-6GHz
- 24 GHz to 39 GHz
- Above 39 GHz
- Application
- Telecom Base Station Equipment
- Smartphones/Tablets
- Laptops and Computers
- Connected Vehicles
- Connected Devices
- Broadband Access Gateway Devices
- Others (AGVs, UAVs, Robots, etc.)
- End-use Industry
- Consumer Electronics
- Industrial
- Automotive & Transportation
- Healthcare
- Media & Entertainment
- Energy & Utilities
- Others (Research & Academia, Agriculture, etc.)
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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