According to the new research report published by The Insight Partners, titled “5G Chipset Market to 2027 – Global Analysis and Forecasts by Type (Operation Frequency (Sub-6 GHz, Between 26 and 39 GHz, Above 39 GHz)); Product (Devices, Customer Premises Equipment, and Network Infrastructure Equipment); End-User (Automotive & Transportation, Energy & Utilities, Healthcare, Retail, Building Automation, Industrial Automation, Consumer Electronics, and Public Safety & Surveillance).” The market is estimated to account for US$ 1.03 Bn in 2019 and is expected to grow at a CAGR of 41.0% during the forecast period 2020 – 2027, to account for US$ 22.86 Bn by 2027.
In the present scenario, 5G chipset is in the concluding phase of testing. These chipsets operate over data speed that is 50 to 100 times more than the 4G counterpart. The global 5G chipset market is majorly driven by exponentially growing needs of the consumer electronic devices that have boosted the manufacturing prospects and convergence of the electronics and automotive industry driving the quest for the semiconductor industry. However, the rapidly changing nature of technology requires consistent changes in semiconductors. Also, the growth of technologies including Artificial Intelligence, IoT, and connected devices across industry verticals are projected to offer considerable opportunities to the players in the 5G chipset market.
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5G is gaining popularity as it is able to address a few key challenges of the network operators while offering mobile broadband. These challenges include cost-effective functionality for managing the ever-growing traffic on the network, aid to meet expectations of speed and quality over the network, and also monetize customer value in the highly competitive market landscape. In the past few years, mobile data consumption has witnessed exponential growth. On a global level, that data traffic rate has grown at an annual rate of approximately more than 65% over the last five years. Also, the exponential growth in data traffic over the internet is attributed to the growth in smartphone and other consumer electronic devices penetration that are able to be connected over the internet with the introduction of IoT.
The Governments of various emerging economies globally have realized the potential of 5G solutions and its impact on the GDP of the country. Also, it is projected that owing to the digitalization of businesses, huge jobs would be created that would render a positive impact on the economy. Tele Brasil, which is the Brazilian Telecommunications Association has signed an agreement with China, the US, European Union, Japan, and South Korea to develop 5G technology in the country. Also, the Brazilian Government has established a partnership with Ericsson for building an innovation center focused on 5G and IoT.
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Rapid growth in the development of smartphones
The adoption of smartphones adoption continues to globally expand. This is fueled by the multimode 3G/4G LTE connectivity, robust mobile processors, advanced features of multimedia, and superior location awareness capabilities, among other features. Approximately, 1.5 billion smartphones were shipped in 2017, globally; which is consistent year-over-year. Most of the growth is projected in the emerging regions, where smartphones account for approximately 70% of the total handset shipments. Further, growth in the smartphone demand has also been driven by the variety of affordable and flexible data plans that are being offered by mobile operators.
Smartphone has become prominently in demand for social networking, gaming, music, email, and web browsing, among other functionalities. It is anticipated that the 5G connectivity would further drive innovations and would increase consumer demand by offering enhanced connectivity. The smartphone is replacing many of the conventional consumer electronics devices with its advanced capabilities and utility.
Encouraging government support and investments in the emerging economies
As soon as 5G was announced and its potential benefits were showcased at the global level, numerous countries have put their hand forward in ensuring a healthy evolution of this technology. A large number of global players have also ventured into the development, research, and innovations for the 5G technology globally. Some of the leading vendors, carriers, and stakeholders in the 5G chipset market include Qualcomm, Samsung Corporation, Ericsson, Nokia Networks, Huawei Telecommunications Inc., and ZTE Corporation who have formed partnerships with various stakeholders across the globe in funding for research & development of the 5G technology. 5G is proven to be a technological evolution that will have the potential to bridge a consumer’s physical, virtual and social worlds. The associated transformation
5G Chipset Market: Competitive Landscape and Key Developments
Broadcom, Inc., Nokia Corporation, MediaTek Inc., Xilinx, Inc., International Business Machines Corporation, Infineon Technologies AG, Huawei Technologies Co., Ltd., Qualcomm Incorporated, Telefonaktiebolaget LM Ericsson, and Samsung Electronics Co., Ltd are among the key players in the global 5G CHIPSET market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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