5G Chipset Market Outlook 2031
The 5G Chipset Market was USD 3.62 Billion in 2022 and is likely to reach USD 404.93 Billion by 2031, expanding at a CAGR of 68.9% during 2023 – 2031. The growth of the market is attributed to growing demand for broad network coverage and high-speed data due to increasing mobile data traffic and use of cellular Internet of Things technology (IoT).
5G refers to 5th generation wireless network, which is considered to be advanced version of network system after 1G, 2G, 3G, and 4G. It is an iteration of cellular technology, planned to boost the speed and responsiveness of wireless networks. A chipset, as a key part of data flow management system, is a set of electronic components that make integrated circuit to be effective and manage flow of information that passes through a device for a proper working of device. 5G chipset gives users access to the enhanced and next generation network by allowing the connectivity through transmission on portable hotspots, IoT devices, smartphones, telecom base stations, and laptops.
The COVID-19 pandemic outbreak hampered the global 5G chipset market due to breakage of supply chain, slow production, and shutdown of manufacturing plants. The market is expected to recover soon as major economies allowed manufacturing plants to resume their work with limited workforce capacity and ease in lockdown due to sharp decline in the virus cases globally.
5G Chipset Market Trends, Drivers, Restraints, and Opportunities
- Rising investment in 5G network infrastructure deployment by leading IT & telecom companies across emerging economies is key factor driving the market growth.
- Growing trend of 5G-enabled smartphones and consumers’ preference for high speed internet networking system with several advantages using smartphones is projected to drive the market expansion during the forecast period.
- Increasing issues regarding privacy concern and data security over the next generation network around the globe act as major challenges that can restrict the market growth.
- Escalating cost of 5G chipset for smartphones can hamper the market growth during the projected timeline.
- Growing requirement for high bandwidth connectivity to establish seamless communication between machines service is projected to create significant growth opportunities for the market.
Scope of 5G Chipset Market Report
The report on the global 5G chipset market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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5G Chipset Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Processing Nodes (10nm, 7nm, and Others), Verticals (Healthcare, IT & Telecom, Energy & Utilities, Transportation & Logistics, Media & Entertainment, Manufacturing, and Others), Frequencies (mmWave, Sub-6GHz + mmWave, and Sub-6GHz), and Deployments (Connected Devices [Multi-mode and Single Mode {Non-standalone and Standalone}], Smartphones/Tablets [Multi-mode and Single Mode {Non-standalone and Standalone}], Broadband Access Gateway Devices [Multi-mode and Single Mode {Non-standalone and Standalone}], Connected Vehicles [Multi-mode and Single Mode {Non-standalone and Standalone}], Telecom Base Station Equipment, and Others [Multi-mode and Single Mode {Non-standalone and Standalone}]
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Intel Corp.; Samsung Electronics Co., Ltd.; Infineon Technologies AG; Xilinx Inc.; Qualcomm Inc.; Huawei Technologies Co., Ltd.; MediaTek Inc.; Qorvo, Inc.; and Unisoc Communications, Inc.
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5G Chipset Market Segment Insights
7nm segment is expected to grow at a rapid pace
Based on processing nodes, the global 5G chipset market is divided into 10nm, 7nm, and others. The 7nm segment is expected to grow at a rapid pace during the forecast period attributed to the focus of key players to develop 7nm processing node initially. However, the 10nm segment is anticipated to expand at a substantial CAGR in the coming years due to need of modern communication device with higher processing speed as they have to accommodate multiple applications at a same time.
Manufacturing segment is projected to expand at a considerable CAGR
In terms of verticals, the market is segmented into healthcare, IT & telecom, energy & utilities, transportation & logistics, media & entertainment, manufacturing, and others. The IT & telecom segment is expected to account for a major market share during the projected timeline owing to wide investment by key players in 5G chipset modules for broadband gateway devices, telecom base stations, and other communication devices.
On the other hand, the manufacturing segment is projected to expand a considerable CAGR during the projected period due to need of establishing wireless seamless communication between sensors, actuators, and robots, which are the main parts of manufacturing process.
Sub-6GHz segment is estimated to account for a significant market share.
On the basis of frequencies, the global 5G chipset market is segregated into mmWave, sub-6GHz + mmWave, and sub-6GHz. The sub-6GHz segment is estimated to account for a significant market share during the forecast period owing to rising offering by key market players for 5G chipset components supporting sub-6GHz band for connected cars, smartphones, and laptops. However, the mmWave segment is expected to grow at significant growth rate in the coming years due to increasing chipset demand that supports mmWave frequency.
Smartphones/Tablets segment is anticipated to grow at a robust pace
Based on deployments, the market is fragmented into connected devices, smartphones/tablets, broadband access gateway devices, connected vehicles, telecom base station equipment, and others. The connected devices, smartphones/tables, and broadway access gateway devices segments are further equally divided into multi-mode and single-mode, while the single-mode sub-segment is further segregated into non-standalone and standalone.
The smartphones/tablets segment is anticipated to grow at a robust pace due to growing demand of 5G enabled smartphones for advanced video calling option, online gaming, and watching ultra-high-definition videos. However, the telecom base station equipment segment is anticipated to expand at a substantial CAGR during the forecast period in the coming years due to increasing demand of next generation 5G chipsets components, since high rate of investments in deploying next generation telecom network infrastructures.
Asia Pacific is anticipated to constitute a key market share
In terms of region, the global 5G chipset market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period owing to rising investment in telecom base stations supporting 5G new radio frequencies and 5G enabled smartphones in the region.
However, the North America market is anticipated to expand at a rapid pace during the forecast period due to high rate of investments in smart cities, smart home, and smart industries. All these developments are projected to boost the demand of 5G chipset in the region.
Segments
The global 5G chipset market has been segmented on the basis of
Processing Nodes
Verticals
- Healthcare
- IT & Telecom
- Energy & Utilities
- Transportation & Logistics
- Media & Entertainment
- Manufacturing
- Others
Frequencies
- mmWave
- Sub-6GHz + mmWave
- Sub-6GHz
Deployments
- Connected Devices
- Multi-mode
- Single Mode
- Non-standalone
- Standalone
- Smartphones/Tablets
- Multi-mode
- Single Mode
- Non-standalone
- Standalone
- Broadband Access Gateway Devices
- Multi-mode
- Single Mode
- Non-standalone
- Standalone
- Connected Vehicles
- Multi-mode
- Single Mode
- Non-standalone
- Standalone
- Telecom Base Station Equipment
- Others
- Multi-mode
- Single Mode
- Non-standalone
- Standalone
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Intel Corp.
- Samsung Electronics Co., Ltd.
- Infineon Technologies AG
- Xilinx Inc.
- Qualcomm Inc.
- Huawei Technologies Co., Ltd.
- MediaTek Inc.
- Qorvo, Inc.
- Unisoc Communications, Inc.
Competitive Landscape
Key players competing in the global 5G chipset market are Intel Corp.; Samsung Electronics Co., Ltd.; Infineon Technologies AG; Xilinx Inc.; Qualcomm Inc.; Huawei Technologies Co., Ltd.; MediaTek Inc.; Qorvo, Inc.; and Unisoc Communications, Inc.
Companies are focusing on various strategies such as strategic collaboration, developing new and innovative product, investment in research & development to develop multi-mode 5G chipset components, and improving their overall product portfolios for expanding their market share. In 2018, Intel Corp. invested USD 28.7 billion in research & development for developing innovative and new technologies. In February 2019, Qualcomm Inc. introduced the Snapdragon X55 5G modem, which supported the mmWave and sub-6GHz bands
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