The global 5G chipset market size is estimated to reach $21.8 million by 2025, exhibiting a CAGR of 69.7% from 2020 to 2025, according to a new study by Grand View Research (www.grandviewresearch.com).
The rapidly rising demand for ultra-reliable and low-latency data networks capable of delivering seamless connectivity is estimated to boost the market growth over the forecast period, adds the research group. As such, 5G chipset is turning out to be an integral part of modern telecommunication equipment.
5G chipsets can be found in the latest smartphones, laptops, base stations, modems, and routers. These chipsets are also being installed in connected vehicles deployed as part of autonomous vehicle systems to provide improved Vehicle-to-Everything (V2X) connectivity. Key suggestions from the Grand View Research report:
° The U.S. regional market is anticipated to reach $283.4 million by 2019 owing to the aggressive investments being made by key market players on developing 5G chipset components.
° The Asia Pacific regional market is anticipated to register a CAGR of 74.4% owing to the growing demand for 5G-enabled smartphones and aggressive investments on rolling out fifth-generation network infrastructure by key players, such as Huawei Technologies of China.
° The smartphones/tablets segment is estimated to reach USD 627.07 million by 2019 owing to the initial focus on developing 5G chipset components for smartphones applications, such as UHD video, augmented reality (AR) gaming, and virtual reality (VR) gaming, among others.
° Key market players are increasingly focusing on developing new 5G chipset components, such as multi-mode chipsets and single-mode standalone chipsets, as part of the strategy to expand the product portfolio and strengthen the foothold in the market.