According to a new market research report published by Transparency Market Research titled ‘5G Chipset Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2026,’ the global 5G chipset market
is estimated to be valued at US$ 1,571.9 Mn by 2019 and is expected to
expand at a CAGR of 44.01% from 2019 to 2026, to reach value of US$
20,195.8 Mn by the end of the forecast period.
Commercialization of the 5G technology across the globe to fuel the global 5G chipset market
Various telecom operators as well as
chipset manufacturers are investing significantly in research and
development activities for commercialization of the 5G technology.
Telecom operators are collaborating with various network equipment
providers as well as service providers to accelerate the
commercialization of 5G. In November 2018, Huawei, a prominent network
equipment company, announced to have signed 22 commercial contracts for
5G. The company is currently working with more than 50 carriers on 5G
commercial trials.
Furthermore, various chipmakers are
introducing advanced 5G chipsets in the market in order to accelerate
the adoption of 5G across the globe. For instance, in December 2018,
Qualcomm, a prominent chipmaker launched its flagship Snapdragon 855
chip, which would facilitate use of the 5G technology in mobile phones.
Rising demand for high speed to propel the global 5G chipset market
Demand for high-speed Internet has been
increasing globally for the last few years, especially in developing
economies such as India and China. The primary factor responsible for
this rise in demand is the increase in demand for on-demand video
streaming. In order to satisfy this surging demand for high-speed data,
smartphone makers are engaging in the development of smartphones with 5G
capabilities.
Furthermore, chipmakers are forming
partnerships with phone manufacturers to provide them with 5G chipsets
to be installed in their smartphones. For instance, Qualcomm, a leading
chipmaker, has partnered with 19 phone makers to supply 5G chipsets to
them.
Asia Pacific market to expand at a rapid pace owing to increasing number of smartphone users in the region
In terms of geography, the global 5G
chipset market has been divided into North America, Europe, Asia
Pacific, Middle East & Africa, and South America. North America is
estimated to be the leading region of the global market by 2019,
followed by Europe. The market in Asia Pacific is projected to expand at
the maximum CAGR from 2019 to 2026 owing to the rising number of
smartphone users and increasing demand for high-speed Internet in the
region.
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