Portland, OR, March 08, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global 5G modems market generated $845.3 million in 2021, and is estimated to reach $10.8 billion by 2031, witnessing a CAGR of 29.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $845.3 Million |
| Market Size in 2031 | $10.8 Billion |
| CAGR | 29.1% |
| No. of Pages in Report | 277 |
| Segments Covered | Modem Type, Mode, Application, and Region |
| Drivers | Surge in adoption of connectivity, digital applications, and wearable technology |
| The rise in demand for high-speed internet and large network coverage | |
| The increase in demand of 5G modems like Qualcomm x65 for mobile broadband operational frequency | |
| Opportunities | Upgrading existing supporting infrastructure, including modems, towers, and other supporting infrastructure |
| Rise in government initiatives for building smart cities in Asia-Pacific | |
| Restraints | High investment and technological & infrastructure challenges in the implementation of 5G network |
| Privacy and security concerns |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic severely impacted the growth of the 5G modems market. Key players operating in the 5G modems industry temporarily witnessed a slowdown, owing to a lack of availability of skilled professionals to develop 5G modems solutions, leading to a decline in revenues for the financial year 2020 to 2021.
- Considering the inputs from various industry experts belonging to the various stages of the value chain, such as OEMs, suppliers, integrators, end users, and distributors, and the financial release of various companies in the 5G modems ecosystem, it is calculated that the market has experienced a decline during 2019–2020.
- However, it is expected that the market will recover from 2021 and remain in the growth stage during the forecast period.
- A rise in penetration of the Internet of Things across industrial, manufacturing, and commercial sectors is expected to drive the growth of the 5G modems market share during the forecast period.
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The report offers a detailed segmentation of the global 5G modems market based on modem type, mode, application, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on modem type, the internal/integrated segment held the largest share in 2021, accounting for nearly 90% of the global 5G modems market and would dominate the market in terms of revenue through 2031. The external segment is estimated to witness the fastest CAGR of 33.6% during the forecast period.
In terms of mode, the single-mode segment captured the largest market share of more than two-thirds of the global 5G modems market in 2021 and is expected to lead the trail during the forecast period. However, the multimode segment is likely to achieve the fastest CAGR of 31.35% through 2031.
Based on application, the mobile and tablets segment held the largest share in 2021, accounting for nearly two-fifths of the global 5G modems market and would dominate the market in terms of revenue through 2031. The automotive segment, however, is estimated to witness the fastest CAGR of 31.28% during the forecast period.
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Based on region, the market in Asia-Pacific was the largest in 2021, accounting for more than one-third of the global 5G modems market and is likely to maintain its dominance during the forecast period. However, the market in LAMEA is expected to manifest the highest CAGR of 31.82% from 2022 to 2031. The other regions analyzed in the study include Europe and North America.
Leading players of the global 5G modems market analyzed in the research include Xilinx, Huawei Technologies Co., Ltd., Spreadtrum Communications, Qorvo, Inc., Samsung Electronics Co. Ltd., MediaTek, Inc, Infineon Technologies AG, Intel Corporation, Nokia Corporation, and Qualcomm Technologies.
The report analyzes these key players of the global 5G modems market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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