LTE Chipset Market Trends, Growth, Industry & Revenue [2031]

Report Description

The LTE chipset market size was USD 3.69 Bn in 2022 and is likely to reach USD 417.18 Bn by 2031, expanding at a CAGR of 69.1% during 2023–2031. Technological advancements in IEEE protocols are major driver of the market.

Emergence of several chipset solutions has led to the evolution of network delivering pervasive connectivity from voice to data centric networks. LTE chipsets offer a wireless communication standard for high speed data transfer. They enhance the capacity per site and minimize the cost per GB, which is anticipated to properly the market during the forecast period.

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LTE chipset solution includes a high performance processor, baseband, a transfer sewer, and an array of peripherals for multimedia and connectivity system. LTE chipset solutions are ideal for devices such as tablets, smartphones, mobile Hotspots, USB dongles, and ultra-books.

The demand for LTE chipset is projected to rise due to increasing need for high data transfer speed, mobility, and enhanced applications. Commercially available LTE chips have accomplished field trials, IOT testing, and certification from tier one manufacturer companies globally.

LTE Chipset Market dynamics

• Rising demand for high-speed internet and large network coverage for several applications such as autonomous driving, multi-user gaming, distance learning, video conferencing, telemedicine, and live streaming is expected to propel the market.

• Increasing demand for mobile broadband connection, high-speed data transfer, information processing is driving the use of LTE technology.

• LTE chipset enhances mobile network performance abilities and reduces the gap between poor to minimal network coverage and data connectivity that persists in current network generations.

• Growing demand for high speed has a massive impact on machine to machine and IOT.

• Network capacity is incapable of handling M2M, human-based communication, and different communication patterns such as latency time.

• M2M communication is expected to drive the LTE chipset market.

• High cost of LTE chipset for mobile devices and increasing price of smartphone devices impedes the market.

• Increasing adoption of technology and artificial intelligence in the coming years is likely to create opportunities in the market. In

• Rise in the demand for IOT platforms is projected to create lucrative opportunities in the IOT LTE chipsets industry.

Impact of Covid-1

The covid-19 pandemic has had an adverse effect on the LTE chipset manufacturing facilities in Asia Pacific. The manufacturing units have temporarily shut, leading to a significant demand and supply gap.

Scope of LTE Chipset Market Report:

The report on the global LTE chipset market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

LTE Chipset Market Segment Insights:

On the basis of component, the market is segmented into hardware, software, and services. The hardware segment further divided into discrete cellular modem, mobile processor, 3GP IoT chipset. The mobile processor segment is expected to hold a major share of the market during the forecast period due to the increase in the number of smartphone users, adoption of new technologies, and high demand for mobile processor.

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Based on product technology, the LTE chipset market is segregated into LTE Advanced, LTE-TD, and LTE- FDD. The LTE advanced segment holds a key share of the market due to its features and efficiency. The LTE FDD segment is estimated to expand at a high CAGR during the forecast period.

In terms of end-users, the market is classified as tablets, smartphones, mobile Hotspots, and USB dongles. The smartphones segment is projected to account for a key share of the market during the forecast period due to the increase in the number of smartphone users and rapid adoption of new technologies.

On the basis of regions, the global LTE chipset market is fragmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominates the market and is expected to account for a dominant share of the market during the forecast period.

This region is led by the US followed, which accounts for a share of the regional market due to the presence of wireless network infrastructure and strong demand for low cost, performance LTE chipsets from IoT application.

The market in Asia Pacific is projected to expand at a high CAGR during the forecast period due to the high number of mobile subscriber in the region. China dominates the market in Asia Pacific with a share of 41% in 2020. Presence of key players in Asia Pacific such as Marvell Technology, Inc., HUAWEI TECHNOLOGIES INDIA PRIVATE LIMITED, Renesas Electronics Corporation, and SAMSUNG fuels the market in the region.