Global 5G chipset market in terms of revenue was estimated to be worth USD 36.3 billion in 2023 and is poised to reach USD 81.0 billion by 2028, growing at a CAGR of 17.4% from 2023 to 2028. The new research study consists of an industry trend analysis of the market.
Key features fueling the growth of 5G Chipsets are the major factors driving the growth of the 5G chipset market are the growing demand for high-speed internet with better network coverage, increasing cellular and M2M IoT connections, and an increase in adoption of 5G in automobiles.
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Driver: Increased demand for high-speed internet
Rising demand for high-speed internet and extensive network coverage for several applications is likely to benefit the market in the forecast period. Growing distance learning, autonomous driving, multiuser gaming, and videoconferencing are anticipated to augment the 5g chipset market. Other factors include rising live streaming, increasing demand for telemedicine, and the growing popularity of augmented reality. For instance, in June 2021, Reliance Jio (Mumbai) collaborated with NXP Semiconductor (Netherlands) to implement a 5G NR O-RAN small cell solution incorporating NXP’s Layerscape multicore processors. The combined solution powered new RAN networks that delivered high performances.
Restraint: High cost of 5G Devices
The cost of 5G-capable smartphone chipsets will probably be higher than the price of existing 4G chipsets. In 2019, only high-end smartphones were equipped with first-generation 5G chipsets. Mass deployment in 2020–2021 was based on second- and third-generation chipsets. Only a small number of high-end smartphones employ Qualcomm's flagship Snapdragon 8-series Processor, which only supports 5G. By making its 7-series and 6-series lineups available on 5G, the business dramatically increased its 5G selection. For mid-range smartphones, Snapdragon 765 and Snapdragon 690 are already available. The 4-series chipset, which are utilized in less expensive phones was launched for to a larger audience. MediaTek and Qualcomm are anticipated to decrease the prices more in future.
Opportunity: Rising demand from autonomous cars, smart cities, and healthcare sector
5G network offers different features such as high-speed data transfer rate, low latency, and consistent connectivity-all easily manageable with previous-generation technology. These features are useful across various industries. For instance, in autonomous cars/connected cars, the low latency of 5G networks is critical to implement safety systems and real-time V2V and V2I communications. In smart cities, there are dense arrays of wireless sensors that enable various services and applications, right from environmental services and pollution monitoring to security surveillance, traffic management, and smart parking. Apparently, 5G infrastructure plays an integral role in meeting various requirements of several connected devices and numerous sensors that are being deployed.
Challenge: Design challenges in RF Front Modules
Demand for wireless communication systems with robust transmitting and receiving performance is growing tremendously as society shifts toward emerging technologies. The increase in efficiency increases the operating time in battery-powered products, thereby reducing the electric consumption of wireless base stations and similar applications. It is up to the RF device designer to balance and mitigate sensitivities to operating conditions while providing an easily implementable device that can accommodate the varied requirements of the targeted applications. Therefore, it is challenging to accommodate all the evolving technologies while designing robust RF semiconductor devices.
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