PUBLISHER: SkyQuest | PRODUCT CODE: 1225674
PUBLISHER: SkyQuest | PRODUCT CODE: 1225674
Global 5G Chipset Market was valued at USD 16.21 billion in 2021 and it is expected to reach at USD 85.0 billion by 2028, with CAGR of 26% over the forecast period (2022-2028).
Over the projection period, the market is likely to increase as a result of the rising need for high-speed data networks with a latency of less than 1ms to provide smooth connectivity for mission-critical applications, such as Machine-to-Machine (M2M) communication. For smartphones, laptops, routers, and telecom base stations that support 5G, a chipset component is necessary. Users of these devices can connect to next-generation networks and benefit from improved experiences thanks to this 5G chipset module.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global 5G Chipset market and various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global 5G chipset market is segmented based on frequency type, node type, deployment type, vertical outlook, and region. Based on frequency type, it is categorized into sub-6GHz mmWave, sub-6GHz+ mmWave. Based on node type, it is categorized into: 7 nm, 10 nm. Based on deployment type, it is categorized into telecom base station equipment, smartphones/tablets, single-mode connected vehicles, connected devices, broadband access gateway devices. Based on vertical outlook it is categorized into manufacturing, energy & utilities, media & entertainment, IT & telecom, transportation & logistics, and healthcare. Based on region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Leading telecom companies throughout the world, such as AT&T, Inc., Verizon Communications, and China Telecom Corporation Limited, are making substantial investments in the construction of a 5G network infrastructure in order to offer its customers extremely fast access. For instance, in November 2018, Nokia Corporation and three significant Chinese telecom providers-China Telecom Corporation Limited, China Mobile Limited, and China United Network Communications Group Co., Ltd.-agreed to the deployment of high-speed network infrastructure. The deal is estimated to be worth USD 2.2 billion. The adoption of 5G-capable devices is anticipated to be encouraged by such expenditures in creating next-generation network infrastructure, which will ultimately increase demand for 5G chipset components over the forecast period.
Chipsets for smartphones that support 5G are expected to cost more than those that support 4G at the moment. First-generation 5G chipsets were restricted to high-end smartphones starting in 2019. 2020 is the anticipated year for the mass deployment of second-generation chipset-based 5G devices, while 2021 is the anticipated year for the release of performance-enhanced 5G devices. Only Qualcomm's flagship Snapdragon 8-series SoCs, which are featured in a select few high-end smartphones, support 5G. By incorporating 5G into its 7-series and 6-series products, the company plans to significantly expand its 5G lineup. Snapdragon 765 and Snapdragon 690 are already available for mid-range smartphones. But, the company hasn't disclosed any plans for 4-series chipsets, which are used in cheaper phones.
The Internet of Things (IoT) is still growing because to the numerous smart grid, smart infrastructure, and smart city projects that are being implemented globally. By 2028, the number of IoT connections is expected to surpass 3 billion. In order to decrease overall downtime and improve operational efficiency, a number of industrial organisations have begun implementing IoT devices to track machine performance in real-time. Over the projected period, the consequent rise in demand for IoT devices is anticipated to fuel the market for new 5G chipset modules.