PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1213639
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1213639
According to SPER Market Research, the Global 5G Chipset Market is estimated to reach USD 224.29 billion by 2032 with a CAGR of 26.95%.
Over the span of the forecast period, it is anticipated that demand for ultra-reliable, low-latency data networks that can enable seamless connectivity would increase significantly. As a result, the 5G chipset is quickly becoming a necessary component of contemporary telecommunications hardware. The most recent smartphones, laptops, base stations, modems, and routers all contain 5G chipsets. In order to enable better Vehicle-to-Everything (V2X) communication, these chipsets are also being used in connected vehicles that are being implemented as a component of autonomous vehicle systems.
A significant driver of market expansion is anticipated to be the rising demand for 5G-capable smartphones throughout the projected period. Leading smartphone manufacturers are investing actively in vertical integration to diversify their revenue streams in response to the increased demand for 5G smartphones
Leading economies like China, the U.S., and Japan have temporarily halted their business and industrial operations due to the fast-spreading COVID-19. This has impeded the production and sales of 5G chipsets worldwide. As a result, it is anticipated that throughout the projection period, market growth would decelerate. Furthermore, governments in important European nations are having a very tough time advancing the 5G commercialization process so that their citizens may receive increased internet bandwidth. For instance, the COVID-19 epidemic in the nation has forced the French government to postpone the 5G auction process for telecom providers. It is therefore predicted to hinder the adoption of 5G devices in the nation, thereby impeding the growth of the market as a whole.