5G Chipset Market Worth $143.69 Billion by 2030: Grand View Research, Inc.
NEWS PROVIDED BY
May 09, 2023, 05:59 ET
SHARE THIS ARTICLE
·
·
·
·
·
·
SAN FRANCISCO, May 9, 2023 /PRNewswire/ -- The global 5G chipset market size is estimated to reach USD 143.69 billion by 2030, exhibiting a CAGR of 20.3% from 2023 to 2030, according to a new study by Grand View Research, Inc. With the increasing demand for 5G-enabled devices, there is a growing need for more powerful and efficient 5G chipsets that can support these devices. To improve performance and efficiency, many chipsets are being designed with built-in Artificial Intelligence (AI) capabilities, which allow devices to process data more quickly and accurately and make more intelligent decisions.
Key Industry Insights & Findings from the report:
· The RFICs segment dominated the market in 2022. The rising complexity of smartphones, which necessitates the use of additional RF transceiver ICs to support numerous antennas for features such as 4G/5G connection, Wi-Fi, Bluetooth, GPS, and NFC, is a major factor driving the segment growth.
· The Sub-6 GHz segment dominated the market in 2022. Increasing use of Sub-6 GHz technologies to provide comprehensive coverage in urban and rural regions, since these frequency bands offer more range and penetration than higher mmWave bands, is a primary factor driving the segment growth.
· The 7 nm segment dominated the market in 2022. The increasing use of the 7 nm technology node in chip design, which offers lower power consumption, greater switching performance, and higher density, is a primary factor driving the segment growth.
· The smartphones segment dominated the market in 2022. The segment's growth is mostly attributed to rising customer demand for mobile connection that is both quicker and more dependable.
· The IT & Telecommunication segment dominated the market in 2022. Significant factors influencing the segment growth include major manufacturers' extensive efforts in developing 5G chipset modules for telecom base stations, and other communication equipment
· The Asia Pacific region dominated the market in 2022 owing to This is rising demand in in high-speed connection by consumers and the growing usage of modern technologies such as IoT, AI, and cloud computing.