The global 5G chipset Market is estimated to account US$ 1.03 Bn in 2019 and is expected to grow at a CAGR of 41.0% during the forecast period 2020 – 2027, to account to US$ 22.86 Bn by 2027.
In the present scenario, 5G chipset is in the concluding phase of testing. These chipsets operate over data speed that is 50 to 100 times more than the 4G counterpart. The global 5G chipset market is majorly driven by exponentially growing needs of the consumer electronic devices that has boosted the manufacturing prospects and convergence of the electronics and automotive industry driving the quest for semiconductor industry. However, the rapidly changing nature of technology requires consistent changes in semiconductors. Also, the growth of technologies including Artificial Intelligence, IoT and connected devices across industry verticals are projected to offer considerable opportunities to the players in the 5G chipset market.
5G is gaining popularity as it is able to address a few key challenges of the network operators while offering mobile broadband. These challenges include cost-effective functionality for managing the ever-growing traffic on the network, aid to meet expectations of speed and quality over the network, and also monetize customer value in the highly competitive market landscape. In the past few years, the mobile data consumption has witnessed exponential growth. On a global level, that data traffic rate has grown at an annual rate of approximately more than 65% over the last five years. Also, the exponential growth in data traffic over the internet is attributed to the growth in smartphone and other consumer electronic devices penetration that are able to be connected over the internet with the introduction of IoT.
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The Governments of various emerging economies globally have realized the potentials of 5G solutions and its impact on the GDP of the country. Also, it is projected that owing to digitalization of businesses, huge jobs would be created that would render a positive impact on the economy. Tele Brasil, which is the Brazilian Telecommunications Association has signed an agreement with China, the US, European Union, Japan and South Korea to develop 5G technology in the country. Also, the Brazilian Government has established a partnership with Ericsson for building an innovation center focused on 5G and IoT.
Some of the factors propelling the market for 5G chipsets include the rise in need for internet coverage with reduced power consumption, rise in the demand for high speed network, growing M2M/IoT connections, and rising in demand for mobile data services. However, high cost of hardware in the terrestrial network densification is a key challenge that is restraining the growth of the 5G chipset market. Moreover, strategic alliances in the emerging economies is anticipated to be opportunistic for the 5G chipset market.
Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘5G Chipset Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.
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Rapid growth in the developments of smartphones
The adoption of smartphones adoption continues to globally expand. This is fueled by the multimode 3G/4G LTE connectivity, robust mobile processors, advanced features of multimedia, and superior location awareness capabilities, among other features. Approximately, 1.5 billion smartphones were shipped in 2017, globally; which is consistent year-over-year. Most of the growth is projected in the emerging regions, where smartphones account for approximately 70% of the total handset shipments. Further, growth in the smartphone demand has also been driven by the variety of affordable and flexible data plans that are being offered by the mobile operators.
Smartphone has become prominently in-demand for social networking, gaming, music, email, and web browsing, among other functionalities. It is anticipated that the 5G connectivity would further drive innovations and would increase the consumer demand by offering enhanced connectivity. The smartphone is replacing many of the conventional consumer electronics devices with its advanced capabilities and utility.
Encouraging government support and investments in the emerging economies
As soon as 5G was announced and its potential benefits were showcased at global level, numerous countries have put their hand forward in ensuring a healthy evolution of this technology. A large number of global players have also ventured into developing, research and innovations for the 5G technology globally. Some of the leading vendors, carriers and stakeholders in the 5G chipset market include Qualcomm, Samsung Corporation, Ericsson, Nokia Networks, Huawei Telecommunications Inc. and ZTE Corporation who have formed partnerships with various stakeholders across the globe in funding for research & development of the 5G technology. 5G is proven to be a technological evolution that will have the potential to bridge a consumers physical, virtual and social worlds. The associated transformation into the digital world will bring in business opportunities to a plethora of industry verticals in true sense.
The List of Companies – 5G Chipset Market
The report also focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years. Some of the key players included in the global 5G chipset market are Broadcom, Inc., Nokia Corporation, MediaTek Inc., Xilinx, Inc., International Business Machines Corporation, Infineon Technologies AG, Huawei Technologies Co., Ltd., Qualcomm Incorporated, Telefonaktiebolaget LM Ericsson, and Samsung Electronics Co., Ltd. among others.
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Some of the market initiatives were observed to be most adopted strategy in the global 5G chipset market. Few of the recent market initiatives are listed below:
2019: Skyworks Solutions, Inc. announced that MediaTek is utilizing its Sky5 suite for their new 5G reference platforms. Specifically, Skyworks’ complete 5G front-end architecture is being combined with MediaTek’s 5G baseband chipset to deliver highly integrated solutions targeting open market mobile products.
2019: Nokia uses processor core from the Intel. Nokia utilizes updated silicon technology for its ReefShark chipsets and therefore collaborated with Intel. Intel has its own silicon manufacturing unit which assists Nokia to power its new 5G network solutions.
2019: China Telecom and Ericsson with the help of MediaTek’s commercial chipset-based terminal has accomplished a 5G Standalone end-to-end data call. This achievement is made on the 5G trial network of a service provider in Hangzhou.
2019: Keysight Technologies, Inc. announced the industry’s first successful demonstration of a 5G New Radio (NR) IP data transfer call using MediaTek’s Helio M70 Multi-Mode Modem with integrated baseband.
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