PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550560
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550560
The Global 5G Chipset Market is estimated to be valued at US$ 32.05 Bn in 2024 and is expected to reach US$ 108.52 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 19% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 32.05 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 19.00% | 2031 Value Projection: | US$ 108.52 Bn |
5G technology promises faster speeds and lower latency compared to its predecessor 4G LTE. The increasing demand for 5G smartphones and mobile broadband services is expected to drive the need for 5G chipsets that can support applications ranging from augmented reality/virtual reality to autonomous driving. 5G networks are also intended to enable better connectivity solutions for IoT devices. As countries focus on deploying 5G infrastructure to take advantage of the economic benefits that come with it such as job creation and innovation, major chipset manufacturers are ramping up production to fulfil the growing requirements of telecom operators as well as smartphone OEMs.
The key drivers fueling the global 5G chipset market growth include growing demand for mobile broadband services, proliferation of IoT connections, need for ubiquitous connectivity in urban and rural areas, and government initiatives to develop smart infrastructure. On the other hand, high investment costs involved in 5G deployment and concerns around electromagnetic spectrum allocation are hampering the market growth. However, emerging opportunities lie in expanding adoption of edge computing technology, remote work arrangements necessitated by the pandemic, and rise of industries like autonomous vehicles that depend on low-latency solutions. Major players are investing in R&D to advance chip design and manufacturing processes to bring down prices. Partnerships between chipmakers and network equipment providers are also on the rise to enable a faster rollout of 5G networks globally.
This report provides in-depth analysis of the global 5G chipset market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global 5G chipset market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Altiostar, Analog Devices, Inc., Anokiwave, Inc., Broadcom Inc., Huawei Technologies Co., Ltd., Infineon Technologies AG, Intel Corporation, Marvell Technology Group Ltd., MediaTek Inc., Nokia, Qualcomm Technologies, Inc., Qorvo, Inc., Renesas Electronics Corporation, Samsung Electronics Co., Ltd., and Texas Instruments Incorporated
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global 5G chipset market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global 5G chipset market