5G Chipset Market Skyrocket: Staggering Growth Forecasted From $16.88 Billion in 2024 to $68.68 Billion in 2029
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What Recent and Projected Growth is Highlighted in Global 5G Chipset Market Analysis?
The 5G chipset market has exhibited momentous growth, surging from $16.88 billion in 2024 to a projected $22.38 billion in 2025. This upward trend represents a compound annual growth rate (CAGR) of 32.5%. Such formidable expansion is largely credited to pioneering developments in mobile communication standards, burgeoning demand for increased data transfer rates, and proliferation of internet of things (IoT) devices. Advances in mobile broadband services, the cultivation of smart cities, and burgeoning connected infrastructure also play integral roles in this growth.
Projections indicate this market’s exponential growth is poised to continue. By 2029, the 5G chipset market is forecasted to reach $68.68 billion, with a CAGR of 32.4%. Key drivers of this promising market expansion encompass the adoption of 5G in industrial automation and IoT, comprehensive 5G network growth for enhanced mobile connectivity, heightened demand for low-latency and high-bandwidth applications, and the integration of 5G in autonomous vehicles and smart transportation. The emerging trends within this forecast period include the development of energy-efficient and compact 5G chipsets and the rise of open ran (radio access network) architectures alongside an increase of 5G chipsets in rural and remote areas.
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What Key Factors Drive the 5G Chipset Market Growth?
The escalating mobile data traffic significantly drives the growth of the 5G chipset market. The expanding mobile data traffic necessitates improved mobile network performance and data connectivity, which will be maintained in future 5G network generations, thereby propelling the development of 5G chipsets. As evidence, the Ericsson Mobility Report from November 2023 predicts that global mobile data traffic will triple by the end of 2029, with 5G subscriptions eclipsing 5.3 billion and an average smartphone data consumption jump from 21GB to 56GB per month between 2023 and 2029. Such rising mobile data traffic is expected to fuel the growth of the 5G chipset market moving forward.
What Are the Major Segments in the 5G Chipset Market?
1) By Integrated Circuit: Radio Frequency Integrated Circuit (RFIC), Application-Specific Integrated Circuit (ASIC), Cellular Integrated Circuit (Cellular IC), Millimeter Wave Integrated Circuit (mmWave IC)
2) By Operational Frequency: Sub 6GHz, Between 26 and 39 Ghz, Above 39 Ghz
3) By Vertical: Manufacturing, Energy And Utilities, Media And Entertainment, IT And Telecom, Transportation And Logistics, Healthcare, Other Verticals
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Which Key Companies are Major Players in the 5G Chipset Market?
Major companies operating in the 5G chipset market include Qorvo Inc., Qualcomm Technologies Inc., Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., UNISOC Communications Inc., Intel Corporation, MediaTek Inc., Infineon Technologies AG, Xilinx Inc., NOKIA CORPORATION, Skyworks Solutions Inc., NXP Semiconductors, Advanced Micro Devices Inc., International Business Machines Corporation, Broadcom Inc., Marvell Technology Group Ltd., Analog Devices Inc., Renesas Electronics Corporation, Fujitsu Limited, Integrated Device Technology Inc., Texas Instruments Incorporated, STMicroelectronics N. V., Murata Manufacturing Co. Ltd., Cavium Inc., MACOM Technology Solutions Holdings Inc., Anokiwave Inc., Sequans Communications S. A., MaxLinear Inc., Inseego Corp., Sierra Wireless Inc., Telit Communications PLC, Quectel Wireless Solutions Co. Ltd., Fibocom Wireless Inc.
What Trends Are Emerging in the 5G Chipset Market?
Product innovations are surfacing as the key trend gaining popularity in the 5G chipset market. Major market players are developing innovative products to stimulate market growth. For example, in July 2024, Qualcomm Technologies, Inc. launched a Snapdragon 4s Gen 2 chipset, intended to power affordable 5G smartphones and enabling standalone (SA) 5G network compatibility at a price point as low as Rs 8,300. By enhancing 5G accessibility, Qualcomm ensures advanced mobile technology is available to a wider population, particularly in emerging markets like India.
Which Region Is the Largest and Fastest Growing in the 5G Chipset Market?
In 2024, Asia-Pacific was the largest region in the 5G chipset market and is also expected to be the fastest-growing region in the forecast period. The regions covered in the 5G chipset market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The 5G Chipset Market Report 2025 Offer?
A 5G chipset is an integrated circuit made up of electronic components that aids in connectivity to next-generation networks, ensuring 5G packet transmission and modelling the flow of information. 5G chipsets constitute key components added to 5G devices. The 5G Chipset Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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