The multimedia chipsets market
is intensely competitive, characterized by the high levels of
competition among top players to constantly diversify their offerings in
the two primary segments-graphics chipsets and audio chipsets, notes
Transparency Market Research (TMR). The markets for both the segments
features a fairly consolidated landscape with a vast scope of product
differentiation. In the graphics chipsets market, the top three
players-Advanced Micro Devices, Inc., NVIDIA, and Intel—held a
combinedly whopping share of 98.2% in 2014. The top three makers of
audio chipsets jointly held a substantial share of 69.4% in the same
year, finds TMR. These leading players are Realtek Semiconductor
Corporation, Qualcomm, and Cirrus Logic, Inc. These players are in
constant pursuit of diversifying their products and are focused on
developing innovative products for a variety of multimedia applications,
in order to consolidate their shares in various regions.
Fueled by low investment required for
entering the market, the threat of entry from new players is expected to
intensify in the coming years, observes TMR. A number of players are
collaborating with various chip makers and forming partnership
agreements to bring down the high cost of setting of manufacturing units
in the initial years. Competitive pricing and the development of
high-performance multimedia chipsets are the key strategies adopted by
several players to gain a competitive edge over others.
Witnessing ample growth opportunities in
the gaming industry and accelerating adoption of multimedia chipsets in
wearable devices, the global multimedia chipsets market is projected to
rise at a CAGR of 6.6% from 2015 to 2023, in terms of revenue. Growing
at this pace, the market is predicted to reach a valuation of US$40.99
bn by the end of the forecast period.
Regionally, currently Asia Pacific
dominates the global market and is expected to retain its lead
throughout the forecast period. The growth is expected to be driven by
the substantial and steady demand for hand-held multimedia devices,
IPTV, and set top boxes. Based on function, the market is led by the
graphics chipsets segment and is predicted to remain so throughout the
forecast period, primarily attributed to their growing applications in
video streaming functionalities in consumer electronics.
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Rising Wave of Next-Generation Smartphones and Wearable Devices Boost Market
The rapidly rising demand for
cost-effective, highly functional hardware in a variety of mobile
devices, including smartphones and wearable, is a key factor driving the
market. The growing demand for feature-rich multimedia handsets in the
areas of gaming and consumer electronics is vastly propelling the demand
for advanced multimedia chipsets. These chipsets enable marked form
factor reductions and high-quality video streaming in various wireless
devices. In addition, their architecture enables multitasking on these
multimedia devices, thereby bolstering their demand. The coming wave of
sophisticated wearable devices and smartphones is a key trend expected
to boost the multimedia chipsets market. The rapidly increasing
internet penetration in several emerging economies has further
accentuated the demand for these electronic devices.
Increased Standardization of Hardware in Consumer Electronic May Limit Prospects
The growing prominence of system-on-chip
architecture has expedited the market for hardware components to mature
faster, calling for increased standardization of hardware components.
This further translates into high rate of commoditization. This has led a
number of IT product development companies to focus on investing on new
system software, rather than in chip making. These factors are likely
to hinder the multimedia chipsets market to an extent.
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