The global 5G Chipset Market size is expected to reach USD 66.45 billion by 2028, according to a new study by Grand View Research, Inc. It is expected to expand at a CAGR of 69.1% from 2021 to 2028. The rapidly rising demand for ultra-reliable and low-latency data networks capable of delivering seamless connectivity is estimated to boost market growth over the forecast period. As such, the 5G chipset is turning out to be an integral part of modern telecommunication equipment. 5G chipsets can be found in the latest smartphones, laptops, base stations, modems, and routers. These chipsets are also being installed in connected vehicles deployed as part of autonomous vehicle systems to provide improved Vehicle-to-Everything (V2X) connectivity.
The growing popularity of 5G-enabled smartphones is
emerging as a major factor that is estimated to propel market growth over the
forecast period. Key smartphone manufacturers are responding to the growing
demand for 5G smartphones by aggressively investing in vertical integration in
order to diversify their businesses and augment revenues. For instance, in July
2019, Apple, Inc. acquired Intel Corporation’s smartphone modem business
segment for USD 1.0 billion. The acquisition was primarily focused on
developing 5G chipset components for Apple Inc.’s new upcoming 5G-enabled
iPhone.
5G chipset components are expected to play a crucial
role in smart city projects by facilitating seamless connectivity for smart
infrastructure, smart grids, smart streetlights, and building energy automation
devices. These chipsets are also poised to become an integral part of the
manufacturing sector by enabling ultra-low latency and high-reliability
connectivity for various critical applications, such as remote process
monitoring and control. The growing deployment of these chipsets to provide robust
connectivity for Machine to Machine (M2M) communications in the manufacturing
sector is anticipated to drive the market over the forecast period.
With the rapidly spreading COVID-19, leading economies
such as China, the U.S., and Japan have temporarily shut down their businesses
and industrial operations. As a result, this has hampered the global 5G chipset
production and sales. Thus, it is estimated to see a slowdown in the overall
market growth during the forecast period. Furthermore, in key European
countries, governments are facing major difficulties in progressing the 5G
commercialization process in order to deliver enhanced data bandwidth to their
people. For instance, currently, the France government has postponed the 5G
auction process for telecom operators amid the outbreak of COVID-19 in the
country. As a result, it is anticipated to impede the adoption of 5G devices in
the country, thereby hampering the overall market growth over the forecast
period.
Moreover, rising concerns over the security of the
data being exchanged over fifth-generation networks are expected to hinder the
market growth. Particularly in countries such as the U.S., the U.K., and
Germany, governments are highly concerned about data security and privacy
issues. Several governments have also drafted stringent regulations and
policies to ensure the security of the data being transferred over
fifth-generation networks.
Related Press Release@ 5G Chipset Market Report
5G Chipset Market Report
Highlights
- The U.S. market held a 93.3% share in 2020. This is attributed to the
enormous investments in developing 5G chipsets by key market players such
as Qualcomm Incorporated; Intel Corporation; and Qorvo, Inc.
- Asia Pacific is anticipated to register the highest CAGR from 2021
to 2028. The growth is attributed to rapidly increasing demand for
5G-enabled smartphones, along with the increasing massive investments in
building 5G network infrastructure by key players, such as Huawei
Technologies Co., Ltd.
- By deployment type, in 2020, the smartphones/tablets segment held
the largest share of nearly 55.0% due to an initial focus on developing 5G
chipsets for smartphone applications, such as accessing UHD video and
Augmented reality (AR)/ Virtual Reality (VR) gaming
- Several key market players are significantly focusing on R&D
investments to develop new 5G chipsets, such as multi-mode chipsets and
single-mode standalone chipsets. This strategy is anticipated to help
market players to expand their overall product portfolios and market
presence
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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