According to the report by Expert Market Research (EMR), the global 5G Chipset Market Size is projected to grow at a CAGR of 65.1% between 2023 and 2028. Aided by the rising demand for high-speed data services and the increasing application of 5G chipsets in various industries, the market is expected to grow significantly by 2028.
5G chipsets are critical components enabling 5G communication standards, allowing devices to connect to 5G networks with higher speed, lower latency, and improved flexibility compared to previous generations. These chipsets play a crucial role in powering devices, ranging from smartphones and laptops to IoT devices and base stations, facilitating seamless connections and high-speed data transmission.
The surging consumer demand for high-speed data services and connectivity is driving the global 5G chipset market growth. As societies become increasingly digitised, consumers are seeking faster data speeds, improved network reliability, and lower latency. This demand, coupled with the growth of IoT devices and the continued rollout of 5G networks, has resulted in a substantial increase in the demand for 5G chipsets.
The expanding applications of 5G chipsets in various industries also significantly contribute to the 5G chipset market expansion. In the automotive industry, 5G chipsets enable advanced features like autonomous driving and vehicle-to-everything (V2X) communication. The manufacturing sector utilises 5G for smart factories and Industry 4.0 initiatives, while the healthcare industry employs 5G connectivity for telemedicine and remote patient monitoring.
Furthermore, the proliferation of IoT devices has necessitated the need for 5G chipsets. As IoT devices demand fast and reliable connectivity for optimal performance, the advent of 5G has been crucial in facilitating this need. From smart homes and wearable devices to industrial sensors and autonomous vehicles, the use of 5G chipsets is pervasive and growing.
Additionally, the ongoing development and adoption of 5G network infrastructure across the globe have led to increased attention on 5G chipsets as a key enabling technology. With nations and telecom operators investing heavily in the 5G rollout, the 5G chipset market demand is expected to surge further.
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5G Chipset Market Segmentation
The market can be divided based on chipset type, operational frequency, end use, and region.
Market Breakup by Chipset Type
• Application-Specific Integrated Circuits (ASIC)
• Radio Frequency Integrated Circuit (RFIC)
• Millimetre Wave Technology Chips
• Field-Programmable Gate Array (FPGA)
Market Breakup by Operational Frequency
• Sub-6 GHz
• Between 26 and 39 GHz
• Above 39 GHz
Market Breakup by End Use
• Consumer Electronics
• Industrial Automation
• Automotive and Transportation
• Energy and Utilities
• Healthcare
• Retail
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global 5G chipset companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• MediaTek Inc.
• Samsung Electronics Co. Ltd
• Qualcomm Technologies, Inc.
• Nokia Corporation
• Huawei Device Co., Ltd.
• Intel Corporation
• Others
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