New York, US, June 22, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global 5G Processor Market - Information by Spectrum, End User and Region - Forecast till 2027” the market is expected to cross USD 18.5 Billion in 2025 growing at a CAGR of 18.3%.
Market Scope:
The onset of COVID-19 had a positive impact on the 5G processor market share. With increasing IT & telecom sectors and the digital transformation of economies, the already-competitive telecom and manufacturing sectors geared up phenomenally. The Coronavirus pandemic also fostered digitization and automation across the manufacturing sectors globally, disrupting supply chains and workforce management.
Many organizations digitized their business processes, including supply chain & product management, sales & marketing, and others. This proliferation of automation further increased the need for 5G networks with high reliability, cloud-based apps, and connected devices. The market is witnessing a constant uptick over the past few months, and solution providers are making substantial investments to foster R&D activities to develop and improve 5G processor performances.
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Dominant Key Players on 5G Processor market covered are:
- Samsung Electronics Co. Ltd.
- Hisilicon (Huawei)
- Apple Inc.
- UniSoc Communication
- Intel Corporation
- Qualcomm
- AMD
- MediaTek
- Spreadtrum
- ARM
- Imagination Technologies
- Nvidia
Market USP exclusively encompassed:
Market Drivers
The global 5G processor market is growing at a rapid pace. The market growth attributes to the increasing demand for exceptional data transfer speeds with reduced cyclic redundancy check times. The proliferation of 5G technology, alongside the advances in technologies AI and IoT, contributes to the growth of the market. Moreover, growing uses of connected wearable devices and rapid digitization in manufacturing sectors drive market growth.
Increasing government initiatives promoting the development of IoT-based modules create significant market opportunities. Besides, substantial investments by major 5G processor manufacturers for developing SoCs and devices that can transfer data in real-time influence the market growth. Resultantly, the 5G processor market is projected to continue garnering significant traction across the globe.
Browse In-depth Market Research Report (111 Pages) on 5G Processor:
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Segmentation of Market Covered in the Research:
The 5G processor market forecast is segmented into spectrum, end-user, and region. The spectrum segment is sub-segmented into gigabit LTE, nature, mmWave, and others. The end-user segment is sub-segmented into telecommunication, manufacturing, automotive, consumers, and others. The region segment is sub-segmented into the Americas, Europe, Asia Pacific, and rest-of-the-world.
Regional Analysis
North America dominates the global 5G processor market with the presence of a large number of 5G processor providers and development centers in the region. Besides, the huge and robust telecommunication sector, alongside the manufacturing industry with high automation levels, the huge automotive industry and smart device market in the region drive the market growth. The North American 5G processor market is estimated to maintain its position throughout the assessment period.
Europe holds the second-best position globally in terms of 5G processor market revenue. The increasing digitalization and automation across industry verticals boost the market size, demanding reliable internet connectivity.
The Asia Pacific region is witnessing a spurring rise in the 5G processor market value. Factors such as adopting 5G technology and AI/ML acceleration increase the region's market shares. The market rise is also driven by and the presence of key technology providers and rapidly growing manufacturing sectors in the region.
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Industry Trends
Telecommunication sectors worldwide witnessed the advent of 5G slated to change the game of networks. The requirement for strong supporting infrastructure to relay data from 5G processors over large distances is another key driving force behind the growth of the market. 5G processors offer overwhelming advantages in terms of transmission speed and accuracy.
With the rising global requirement for device interconnectivity and large critical data transfer, the 5G processors market is expected to perceive a strong growth during the forecast period. Telecommunications is the largest market within this segment and the primary market driver for 5G processors. Finding extensive uses in smartphones, 5G processors are bound to revolutionize this industry.
The demand from various telecommunication corporations is also fueling the innovation within the 5G processor market. Besides, rising smart city projects revolutionize the 5G processor industry, employing smart devices to gain data and insights to manage assets, resources, and services better. Companies that have already invested in the 5G field would gain a massive competitive advantage and new opportunities.
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