The 5G chipset market is expected to grow from USD 12.8 billion in 2020 to USD 67.2 billion by 2027, at a CAGR of 26.7%. The major factors driving the growth of the 5G chipset market are the growing demand for high-speed internet and broad network coverage, increasing cellular IoT connections, and an increase in mobile data traffic. However, the high cost of the 5G chipset is expected to restrain the growth of the market.
RFIC to account for largest
share of 5G chipset market during forecast period
RFIC which includes RF transceiver and RF FE segment is expected
to witness highest CAGR in coming years. The mobiles devices and
telecommunication infrastructure segments are expected to be the major
contributors to the growth of the RFIC market. The increasing number of RF
transceiver ICs in smartphones is the key factor expected to drive the growth
of the 5G chipset market for RFIC. The deployment of mmWave ICs in 5G infrastructure
equipment and the high bandwidth offered by mmWave technology are expected to
support the market growth.
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10 to 28 nm segment to witness
highest growth in 5G chipset market in coming years
Advancements in the fabrication process are supporting the
improvements in ICs, which has made electronic devices smaller and more power
optimized. The 5G chipset market by process node has been segmented into less
than 10 nm, 10–28 nm, and above 28 nm. Some of the major process nodes on which
5G chipset components such as modems and RFICs are manufactured include 5 nm, 7
nm, 10 nm, 14 nm, 28 nm, 45 nm, 60 nm, and so on. 5G chipsets with process node
between 10 and 28 nm mostly include baseband processors for 5G infrastructure
and RFIC components.
Sub-6 GHz is attributed to hold
largest market size of 5G chipset market from 2020 to 2027
5G devices operating in the Sub-6 GHz spectrum band are likely
to play an important role in delivering widespread coverage and supporting
multiple use cases. Companies such as Huawei and ZTE do 90% of their work in
sub-6 GHz. Sub-1 GHz frequency support 5G services in urban, suburban, and
rural areas and may find its role in IoT services. This spectrum is likely to
help 5G services reach hard-to-reach and populated public areas. Spectrum from
1 to 6 GHz is used for coverage and capacity applications of 5G.
Automotive segment is likely to
grow at the highest CAGR during the forecast period.
5G is expected to play a crucial role in the transformation of
the automotive industry through the development of new applications that are
difficult to develop with the current generation of cellular technologies. 5G
can allow system and application developers to develop a wide range of
applications; the major applications include vehicle-to-vehicle (V2V),
vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), and vehicle-to-network
(V2N). These applications of 5G would further help in the development of other
applications, such as automated driving, digital logistics, and intelligent
navigation.
APAC to have highest CAGR in 5G chipset market during forecast period
The 5G chipset market in APAC is foreseen to grow at a
significant rate. The growth of the 5G chipset market in APAC is mainly driven
by increasing developments (such as R&D activities, investments, and
partnerships among companies) related to 5G in countries such as Japan, China,
and South Korea. 5G has been launched in 9 countries, and 12 others have
planned to roll out in the near future in Asia Pacific. China is one of the
major countries involved in the development of 5G network infrastructure. The
Chinese government has been quick off the mark in coordinating and stimulating
5G research in China.
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