The ever-increasing demand for broad network coverage and high-speed internet, with reduced power consumption and latency, will augment the growth of the global 5G chipset market during the projection period, revealed the latest report by ResearchAndMarkets.com
With 5G networks to be rolled out soon, the network providers and the smartphone OEMs are gearing up for the transition phase.
The next-gen of technology demands improvement in data speed. The demand for connectivity is expected to be driven by trends like autonomous cars, smart cities, industrial automation, and IoT (Internet of Things).
The 5G network relies on the cloud and arrays of the small antenna to provide ultra-speed data for mobile communication. The network band will be different than that of 4G (LTE) band, so smartphone OEMs are looking to equip handsets with 5G enabled modem chipsets for end-to-end communication. The major manufacturers of 5G chipsets for handsets are Qualcomm, Samsung, Intel, Mediatek, and Huawei. Qualcomm claims its Snapdragon 855 series is the world’s first real 5G chipset.
The market for 5G chipsets is expected to witness tremendous growth over the forecast period from 2019 to 2024. Further, the 5G chipset market is set to experience exponential growth because of its wide range of applications.
Studies and research on this subject introduced a wide range of areas and spheres where 5G chipsets will have major applications. With the latest technological developments, the market has spread its operations and applications from North America to Asia and Europe, and all across the globe. 5G technologies facilitate all the necessary network advancements to completely automate the manufacturing process. Significantly lower latency alongside much faster speeds allows for critical applications being used securely, opening up a wide range of new opportunities.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and the Middle East and Latin America. Asia-Pacific held the highest revenue share in the market in 2018. The Asia-Pacific region has large number of companies supplying 5G chipsets. In this region, Japan, Korea, and China are the key countries from where demand is being generated, and the majority of the players are located.
However, the North American region held the second-largest share of the global market and is expected to offer the substantial market potential for the 5G chipset market. Since North America is a quick adopter of technological advancements the 5G chipset market has swiftly formed a strong base in the region. High demand for advanced technologies such as artificial intelligence, machine-to-machine communication, and connected cars will provide huge opportunities for the development of the 5G chipset market in North America.
The Report Includes:
- 91 data tables and 60 additional tables
- A descriptive study with a trend analysis of the global 5G chipset market
- Analyses of global market trends with data from 2018, estimates for 2019, and projections of compound annual growth rates (CAGRs) through 2024
- Quantitative data covering global 5G chipset market in terms of end-use, material type, spectrum bands, deployment type and geographical region
- Regional dynamics of the global 5G chipset market covering North America, Europe, Asia-Pacific, South America and the rest of the world (RoW)
- A holistic view of 5G chipset industry, the key developments, major drivers and trends, and challenges that affect the market and the supplier landscape
- Revenue details and market share analysis of major manufacturers of the 5G chipset
- Comprehensive company profiles of leading market players, including Analog Devices Inc., Ericsson Inc., Intel Corp., Microsoft Corp. and Samsung Electronics Co. Ltd.
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