5G Chipset Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
5G Chipset Market: Overview
5G chipsets are meant for next-gen networks in paving the ear of super-fast connectivity of consumer devices, network infrastructure equipment, and premise equipment. The growing application of 5G chipsets in electronic design automation (EDA) software products is boosting the market. The proliferation of use of 5G devices in multimedia and AI applications is a key aspect shaping the research and development avenues in the 5G chipset market. 5G chipsets are being utilized in premium and flagship smartphones. Emerging 5G New Radio initial standards have also shaped the prospects of the market. The focus is on meeting precision high-speed digital interfaces.
Some of the key product types in the 5G chipset market are modem and RFIC, including RF transreceivers. Key end-use industries in the 5G chipset market are telecommunication, mobile devices, automobile, and non-mobile devices.
Some of the application areas where developments in the 5G chipsets market are showing promise are customer premises equipment, small cell, and macro cell base station.
5G Chipset Market: Key Trends
The market proposition for 5G system-on-chips (SoCs) for flagship smartphones has increased. The growing demand for 5G multimode devices is a key trend boosting the prospects in the 5G chipset market. Manufacturing of these chipsets has also received an impetus on the back of high-bandwidth data transmission systems, paving way to 5G mobile platforms. The emergence of new digital interconnect standards is expected to boost the market. The growing demand for smartphones that incorporate on-device AI based on 5G chipsets is a key trend. Rapid penetration of cellular IoT connections is boosting the 5G chipset market.
Emerging 5G networks for IIoT is a key trend bolstering the prospects in the 5G chipsets market. The growing use of graphics-intensive features in smartphones has boosted the adoption of 5G chipsets among phonemakers. The market is also boosted by the growing traction of integrated 5G modem in developing next-gen networks.
5G Chipset Market: Competitive Development Analysis and Key Developments
A globally prominent semiconductor company and U.S. public multinational corporation Qualcomm has sought to consolidate their position in 5G chipset market by unveiling 5G chipsets for low-end 5G device makers. The company has announced in early 2020 that it will release first 5G chipset in the 6-series, the Qualcomm Snapdragon 690 5G Mobile Platform. The new platform is especially designed for on-device AI and is therefore open up new vistas in the 5G chipsets market. Also, the company is leaning on developing 5G platforms that spur the penetration of 5G devices across various industry verticals around the world. To put things in perspective, the company asserted zealously that 5G-powered devices will be accessible to over 2 billion smartphone users globally.
Such developments are looked with enthusiasm. Some of the smartphone makers looking to harness the potential of such platforms in the 5G chipset market are LG Electronics, HMD Global, Motorola, TCL, Wingtech, and SHARP. These companies are also focused on developing 5G mobile platforms with sleek form factors. Some 5G chipset manufacturers are also harnessing the potential of advanced device design-verification testing.
5G Chipset Market: Regional Assessment
North America has emerged as a highly lucrative region in the 5G chipset market. The emergence of the region in the global arena has been propelled by the growing application of 5G chipsets in small cell application and the presence of advanced telecommunication infrastructure. Demand for 5G FWA networks has also accounted for high revenues in the region market.
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