Westford USA, June 12, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that 5G Chipset Market will attain a value of USD 92.05 Billion by 2031, with a CAGR of 21.8% over the forecast period (2024-2031). It is anticipated that the next-generation, least expensive 5G chipset solution will offer new levels of performance and efficiency, opening up new user experiences and connecting new industries. Furthermore, the 5G chipset market outlook is driven by the growing need for 5G network infrastructure solutions, which enable increased efficiency and cost reduction by facilitating the integration of new sectors.
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5G Chipset Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $19.28 Billion |
| Estimated Value by 2031 | $92.05 Billion |
| Growth Rate | Poised to grow at a CAGR of 21.8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Frequency Type, Node, Deployment and Vertical Outlook |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Adoption 5G chipset intelligent cities, smart infrastructure and 5G chipsets |
| Key Market Opportunities | The emergence of private 5G networks to address wireless communication requirements in industrial IoT |
| Key Market Drivers | 5G and IoT are transforming connectivity and efficiency in industry |
7 nm Node Dominates 5G Chipset Market Enhanced Performance and Efficiency Drive Adoption
The global 5G chipset market is dominated by the 7 nm node due to faster data processing and lower power consumption as it offers better performance. In order to achieve maximum device performance and connectivity whilst at the same time competing effectively, it has been widely embraced by manufacturers which are increasingly demanding in terms of speed and responsiveness for 5G networks.
Meeting Diverse Connectivity and Technological Needs Boosts Demand for Sub-6 GHz Frequency Type
Due to its equal coverage as well as capacity the sub-6 GHz type of frequency tends to provide balanced coverage throughout. This type has much broader or consistent coverage including penetration towards buildings that will lead to its deployment into various regions which range from cities to remote areas for various sorts of connectivity purposes as it continues satisfying these needs widely across many sectors.
Growing Demand for Broadband Services from Emerging Countries Allowing Asia Pacific to Hold a High Market Share
Asia Pacific (APAC), the biggest sector in the market, is mainly pushed by the strong government support and rapid technological advancements within the region especially China, South Korea and Japan; it has been at the forefront of the world in the adoption of 5G with widespread network rollouts and a high proportion of 5G enabled device uptake. In the Asia Pacific Region only South Korea performs better than Malaysia when it comes to 5G performance.
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5G Chipset Market Insight
Drivers:
- 5G and IoT are Transforming Connectivity and Efficiency in Industry
- High use of M2M Communication Technology
- Escalating Demand for High-Speed Internet and Advanced Data Services
Restraints:
- Rising Costs and Market Trends from High-End to Volume Deployment
- Fragmented Spectrum Allocation
- Integrating 5G into Mid-Range SOC in Smartphones
Prominent Players in 5G Chipset Market
The following are the Top 5G Chipset Companies
- Qualcomm Technologies, Inc. (US)
- MediaTek Inc. (Taiwan)
- Huawei Technologies Co., Ltd. (China)
- SAMSUNG (South Korea)
- Broadcom (US)
- Infineon Technologies AG (Germany)
- MACOM (US)
- u-blox (Switzerland)
- Sivers IMA (Sweden)
- Unisoc (Shanghai)
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Key Questions Answered in Global 5G Chipset Market Report
- What is the estimated market size for 5G chipsets worldwide by 2031, and what is the anticipated compound annual growth rate (CAGR) for the 2024–2031 projection period?
- Why is the global market for 5G chipsets dominated by the 7 nm node?
- Which region's robust government support and quickening technological breakthroughs are expected to propel it to a dominant position in the 5G chipset market?
This report provides the following insights:
- Analysis of key drivers (Better connectivity for smooth communication & low power requirements, increased adoption of new M2M technologies, mobile networks' existing capacity to handle billions of nodes are expected to ascend in the coming years and hyper-connectivity & increased bandwidth), restraints (Increased initial deployment expenses for manufacturers & mobile device producers, high chipset costs may restrict research and restricted coverage area requires diverse spectrum licensing schemes), opportunities (5G networks offer low-latency communication & high reliability, ensuring communication infrastructure meets the stringent requirements of industrial environments and transmission of massive amounts of data at faster speeds), and challenges (Design challenge arises due to higher frequencies and sophisticated design techniques to overcome these limitations) influencing the growth of 5G chipset market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the 5G chipset market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the 5G chipset market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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