REDDING, Calif., March 9, 2022 /PRNewswire/ -- According to a new market research report titled "5G Chipset Market by Application (Automotive & Transportation, Smart Factories, Smart Cities), Chipset Type, Frequency, Processing Node, Deployment Type, Vertical, and Geography — Global Forecast to 2027", published by Meticulous Research®, the 5G chipset market is expected to grow at a CAGR of 52.7% from 2020 to 2027 to reach $23.53 billion by 2027.

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5G chipsets are used in 5G network modems and devices for enabling high-speed data transmission with low latency, higher bandwidth, increased availability, and a more uniform user experience. It enables communication among several devices, machines, and objects. These chipsets are used in various equipment and devices, ranging from wireless network infrastructure and base stations to smartphone and IoT device applications. 5G chipset finds its application across multiple industry verticals.

The growing demand for high-speed data services, rapidly developing smartphone technology, and proliferation of IoT and connected devices are driving the growth of the 5G chipset market. Rising government initiatives to build smart cities and increasing partnership among major players offer lucrative growth opportunities for this market's growth. However, the high cost of equipment and fragmented spectrum harmonization model globally are expected to restrain the market's growth. The rising cybersecurity concerns, lack of adequate infrastructure, and high-power dissipation are expected to remain a major challenge for market growth.

Rising Government Initiatives to Build Smart Cities

The emergence of the Internet of Things (IoT) ecosystem is slowly transforming different areas of human life, involving sectors such as transport, health, energy, and security. In recent years, several IoT deployments and test beds have been proposed to create new smart infrastructures. Thus, many countries have started planning smart cities to address the urbanization challenge. Smart cities promote sustainable development with machines and objects connected with wireless technology and cloud for transmitting data where IoT applications receive, analyze, and manage data in real-time so that municipalities, enterprises, and citizens can make a better decision.

Governments of various countries are drafting smart cities to prepare for the future sustainable, easy living solutions such as 5G and IoT. In 2015, India launched its National Smart City Mission to develop 100 smart cities, which is expected to impact over 99.6 million people. The government approved over USD 14 billion for this mega project. Similarly, China has also planned to develop 500 smart cities across the Chinese national territory. This smart city plan is explicitly mentioned in the 13^th five years (2016-2020) plan of China.

Cisco, IBM, and Transportes Urbanos de Braga (TUB) partnered to develop Braga city of Portugal into a smart city. Moreover, companies like Microsoft and Oracle are developing technological solutions such as MS Azure IoT and Oracle Primavera. The growing investment of private players and government support with favorable policies for developing smart cities is driving the demand for 5G chipsets.

Meticulous Research^® has segmented the overall 5G chipset market based on application (automotive & transportation, smart factories, smart cities, gaming & entertainment, and smart retail), chipset type (application-specific integrated circuits, radio frequency integrated circuits, millimeter-wave technology chips, and field-programmable gate arrays), frequency (below 1GHz, sub 6GHz, and above 24GHz), processing node (7Nm, 8Nm, 10Nm, and others), deployment type (devices, network infrastructure equipment, customer premises equipment, and others), vertical (automotive, public transportation, energy & utilities, telecom & IT, industrial automation, consumer electronics, public safety, retail, public infrastructure, and others), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).

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Based on application, the 5G chipset market is segmented into automotive & transportation, smart factories, smart cities, gaming & entertainment, and smart retail. The smart cities segment commands the largest share of the overall 5G chipset market. The large market share of this segment is mainly due to the high demand for 5G-enabled devices and government initiatives to build smart cities with financial support from investors. With 5G, everything from smart sensors to self-driving cars can now communicate at incredibly fast speeds with low latency and without being tethered to an ethernet cable – resulting in more efficient systems and resources.

Based on chipset type, the 5G chipset market is segmented into application-specific integrated circuits, radio frequency integrated circuits, millimeter-wave technology chips, and field-programmable gate arrays. The application-specific integrated circuits segment dominates the overall 5G chipset market. The large market share of this segment is mainly due to their higher efficiency and better performance than other ICs. An ASIC device can replace a whole collection of standard off-the-shelf components in an electronic device, reducing the number of items on your bill of materials (BOM) and eliminating their costs. An ASIC can improve the overall performance of an electronic assembly in several very different ways: signal integrity; size, weight, and power (SWaP); intellectual property protection; and reliability.

Based on frequency, the 5G chipset market is segmented into below 1GHz, sub 6GHz, and above 24GHz. The sub 6GHz segment commands the largest share of the overall 5G chipset market. The large market share of this segment is mainly due to the potential to support large bandwidth and high-speed data transfer, which is crucial for massive machine-type communication such as industrial IoT. 

Based on processing node, the 5G chipset market is segmented into 7Nm, 8Nm, 10Nm, and others. The 7Nm processing node segment commands the largest share of the overall 5G chipset market. The large market share of this segment is mainly due to its higher logic density for a greater number of transistors to be fitted on the chip and lower requirement of supply voltage for working.

Based on deployment type, the 5G chipset market is segmented into devices, network infrastructure equipment, customer premises equipment, and others. The devices segment commands the largest share of the overall 5G chipset market. The large market share of this segment is mainly due to the growing numbers of 5G-enabled devices launching in the market. It includes 5G-enabled smartphones, laptops, tablets, and smart wearables, among others.

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Based on vertical, the 5G chipset market is segmented into automotive, public transportation, energy & utilities, telecom & IT, industrial automation, consumer electronics, public safety, retail, public infrastructure, and others. The consumer electronics segment dominates the overall 5G chipset market. The large market share of this segment is mainly due to the increased adoption of e-health, wellness apps, e-learning, public sector data access & similar digital utility services; increased frequency of video calling & video conferencing services due to COVID-19; and growing mobile subscription with 5G connectivity.

Geographically, the global 5G chipset market is segmented into five major regions—Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. The Asia-Pacific region commands the largest share of the global 5G chipset market. The key factors driving the growth of 5G chipset market in this region are major technology players manufacturing 5G chipsets, higher consumption due to high population, and higher adoption and proliferation of technology. The mobile network operators in this region are expected to invest $331 billion for 5G deployment during 2020-2025, contributing to the growth in this region. The presence of a large population of the region and their increasing disposable income due to the region's economic growth has influenced the demand for 5G-enabled smart devices such as smartphones, tablets, PCs, AR/VR headsets, etc. China has deployed approximately 480,000 5G base stations in 50 plus cities, supporting a large share of Asia-Pacific. In Asia-Pacific, China accounted for the largest share of the 5G chipset market.

The top three key players operating in the global 5G chipsets market are Qualcomm Technologies Inc. (U.S.), Huawei Technologies Co. Ltd. (China), and Intel Corporation (U.S.). These players continuously focus on agreements & partnerships, acquisitions, and product launches to increase their respective market shares.  

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Scope of the Report

5G Chipset Market, by Application

• Automotive & Transportation
• Connected Vehicles
• Smart Infotainment
• Freight information System
• Smart Traffic Management
• Smart Parking
• Passenger Information Management
• Smart Factories
• Asset Monitoring
• Workforce Management
• Robotics
• Inventory Management
• Smart Cities
• Waste Management
• Smart Utilities
• Smart Building
• Smart Public Safety
• Smart Healthcare
• Smart Education
• Gaming & Entertainment
• Cloud-based Gaming
• AR/VR
• OTT TV
• Smart Retail 
• Store Analytics
• Smart Dressing Rooms
• Video Surveillance & Safety

5G Chipset Market, by Chipset Type

• Application-specific Integrated Circuits (ASIC)
• Radio Frequency Integrated Circuits (RFIC)
• Millimeter-wave Technology Chips
• Field Programmable Gate Arrays (FPGA)

5G Chipset Market, by Frequency

• Below 1Ghz
• Sub 6Ghz
• Above 24Ghz

5G Chipset Market, by Processing Node

• 7 Nm
• 8 Nm
• 10 Nm
• Others

5G Chipset Market, by Deployment Type

• Devices
• Network Infrastructure Equipment
• Customer Premise Equipment
• Others

5G Chipset Market, by Verticals

• Automotive
• Public Transportation
• Energy & Utility
• Telecom & IT
• Industrial Automation
• Consumer Electronics
• Public Safety
• Retail
• Public Infrastructure
• Others

5G Chipset Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific 
• China
• Japan
• South Korea
• India
• Rest of Asia-Pacific
• Latin America
• Middle East & Africa

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