Global 5G Chipset Market to Reach US$ 78.3 Billion by 2032, Impelled by Increasing Demand for High-Speed Internet

September 18, 2023 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled “5G Chipset Market Report by Chipset Type (Application-Specific Integrated Circuits (ASIC), Radio Frequency Integrated Circuit (RFIC), Millimeter Wave Technology Chips, Field-Programmable Gate Array (FPGA)), Operational Frequency (Sub 6 GHz, Between 26 and 39 Ghz, Above 39 Ghz), End User (Consumer Electronics, Industrial Automation, Automotive and Transportation, Energy and Utilities, Healthcare, Retail, and Others), and Region 2024-2032,” the global 5G chipset market size reached US$ 6.0 Billion in 2023. A 5G chipset is a critical component powering the next generation of wireless communication technology. It serves as the core of devices that connect to the 5G network, enabling seamless and high-speed data transmission. These chipsets are engineered to handle the advanced requirements of 5G, such as ultra-low latency, massive device connectivity, and gigabit-level data rates. By integrating sophisticated technologies such as beamforming, MIMO (Multiple-Input Multiple-Output), and advanced signal processing, 5G chipsets empower devices to access the remarkable capabilities of 5G networks. These chipsets are pivotal for smartphones, the Internet of Things (IoT), autonomous vehicles, smart cities, and industrial automation, ushering in a new era of connectivity and data-driven innovation.

Global 5G Chipset Market Trends:

The global 5G chipset market is experiencing an unprecedented surge in growth, propelled by the increasing demand for high-speed and low-latency connectivity. Concurrent with this, the proliferation of data-intensive applications, such as streaming 4K videos to real-time gaming and industrial IoT, is fueling the need for 5G chipsets to enable faster download and upload speeds. Moreover, the expanding digital transformation of industrial operations is contributing to the market’s growth as 5G support massive IoT connections and critical applications. Concurrent with this, the expanding adoption of smart factory solutions that rely on 5G chipsets to enable real-time monitoring and control of production processes, optimizing efficiency and quality, is creating a positive outlook for market expansion. Additionally, the expanding use of 5G chipsets in the automotive sector for the development of connected and autonomous vehicles, revolutionizing transportation with enhanced safety features and vehicle-to-vehicle communication, is strengthening the market growth. Furthermore, the implementation of favorable government initiatives and investments are presenting remunerative opportunities for the market as various countries around the world are recognizing the strategic importance of 5G technology and are fostering the deployment of 5G networks. Looking forward, the market value is projected to reach US$ 78.3 Billion by 2032, expanding at a CAGR of 31.5% during 2024-2032.

Market Summary:

Based on the chipset type, the market is segmented into application-specific integrated circuits (ASIC), radio frequency integrated circuit (RFIC), millimeter wave technology chips, and field-programmable gate array (FPGA).
On the basis of the operational frequency, the market has been classified into sub 6GHz, between 26 and 39 GHz, and above 39 GHz.
Based on the end user, the market is categorized into consumer electronics, industrial automation, automotive and transportation, energy and utilities, healthcare, retail, and others.
On a regional basis, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being Broadcom Inc, Huawei Technologies Co., Ltd., Infineon Technologies Ag, Intel Corporation, Mediatek Inc, Nokia Corporation, Qorvo, Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd. and Xilinx Inc.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment: Chipset Type Operational Frequency End User Region
Chipset Types Covered	Application-Specific Integrated Circuits (ASIC), Radio Frequency Integrated Circuit (RFIC), Millimeter Wave Technology Chips, Field-Programmable Gate Array (FPGA)
Operational Frequencies Covered	Sub 6 GHz, Between 26 and 39 Ghz, Above 39 Ghz
End Users Covered	Consumer Electronics, Industrial Automation, Automotive and Transportation, Energy and Utilities, Healthcare, Retail, Others
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Broadcom Inc, Huawei Technologies Co., Ltd., Infineon Technologies Ag, Intel Corporation, Mediatek Inc, Nokia Corporation, Qorvo, Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd., Xilinx Inc, etc.
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Global 5G Chipset Market to Reach US$ 78.3 Billion by 2032, Impelled by Increasing Demand for High-Speed Internet

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