5G Chipset Global Market Report 2022: Industry to Reach $92.05 Billion by 2030 with 21.8% Annual Growth - ResearchAndMarkets.com | Business Wire
5G Chipset Global Market Report 2022: Industry to Reach $92.05 Billion by 2030 with 21.8% Annual Growth - ResearchAndMarkets.com
December 30, 2022 07:09 AM Eastern Standard Time
DUBLIN--(BUSINESS WIRE)--The "5G Chipset Market by IC Type, Operational Frequency, Product, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
“5G Chipset Market by IC Type, Operational Frequency, Product, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2021-2030”
The 5G chipset market size was valued at $13.26 billion in 2020, and is projected to reach $92.05 billion by 2030, registering a CAGR of 21.8% from 2021 to 2030. 5G chipset is the primary component of consumer devices, customer premises equipment, and network infrastructure equipment that enables the end-user to create a wireless network based on the 5G standard.
The growth of the 5G chipsets market is majorly driven by the rise in demand for high-speed internet and large network coverage coupled with proliferation of M2M/IoT connections.
Furthermore, increase in demand for mobile broadband services is anticipated to drive the market growth. However, privacy and security concern, high investment, and technological & infrastructure challenges in the implementation of 5G network act as a prime restraint of the market. On the contrary, surge in government initiatives for building smart cities in Asia-Pacific is anticipated to provide lucrative opportunities for the expansion of the 5G chipsets market during the forecast period.
According to 5G chipset market analysis, the devices segment was the highest contributor in 2020, due to surge in adoption of Internet of Things application. The consumer electronics and automotive and transportation segments collectively accounted for around 74.6% market share in 2020. Surge in adoption of next generation 5G network-based Internet of Things solution has led the growth of the consumer electronics and automotive and transportation segment; thereby, enhancing in the market growth.
Key Market Segments
By IC Type
· ASIC
· RFIC
· Cellular IC
· mmWave IC
By Operational Frequency
· Sub 6GHz
· Between 26 & 39 Ghz
· Above 39 Ghz
By Product