The 5G chipset market in the Asia Pacific is expected to grow from US$ 321.9 Mn in 2019 to US$ 8,674.0 Mn by the year 2027, with a CAGR of 44.4% from the year 2019 to 2027.
Driving factors such as a rise in demand for a reliable communication network and rapid growth in the developments of smartphones are driving the growth of the 5G chipset market. Further, encouraging government investments to develop 5G technology is expected to facilitate significant growth opportunities for the 5G chipset market. The adoption of smartphone adoption continues to expand globally. This is fuelled by the multimode 3G/4G LTE connectivity, robust mobile processors, advanced features of multimedia, and superior location awareness capabilities, among other features. Approximately 1.5 billion smartphones were shipped in 2017, globally, which is consistent year-over-year. Most of the growth is projected in the emerging regions, where smartphones account for approximately 70% of the total handset shipments. Further, growth in the smartphone demand has also been driven by a variety of affordable and flexible data plans that are being offered by mobile operators. Smartphone has become prominently in-demand for social networking, gaming, music, email, and web browsing, among other functionalities. It is anticipated that the 5G connectivity would further drive innovations and would increase consumer demand by offering enhanced connectivity. This is expected to proliferate the market for 5G chipset.
On the basis of operation frequency, the 5G chipset market is segmented into sub-6 GHz, between 26 and 39 GHz, and above 39 GHz. The 5G network is expected to bring convenience to the next generation. The network providers and chip manufacturers are seeking forward to conduct test trials for the broad spectrum of bands. With the higher frequency of the band, the internet connection would be higher. Continuous advents made in IoT has led to increasing its adoption in the enterprise application such as healthcare, manufacturing, and many more. The sub-6 GHz segment led the 5G chipset market in 2019 and is anticipated to dominate the market in the forecast period.
China dominated the 5G chipset market in 2019 and is expected to dominate the market with the highest share in the Asia Pacific region through the forecast period. Strong backing from the government is helping propel 5G in China. For instance, 5G is quoted amongst the strategic priority in the list of government’s 13th Five-year Plan. The government has awarded grants to technology heavyweights such as Huawei and ZTE, which has received nearly US$72 Mn for the 5G technological development. The country’s largest telecommunication providers projects to spend around US$ 411 Bn to roll out 5G by 2030. Also, the IIoT is expected to be a 5G’s most vital use case in assisting China’s “Made in China 2025” initiative. Moreover, the Ministry of Industry and Information Technology (MIIT) of China has sanctioned the testing of 5G technology by using 4.8-5.0 GHz, 24.75-27.5 GHz, and 37-42.5 GHz spectrum bands. The figure given below highlights the revenue share of the rest of Asia Pacific in the 5G chipset market in the forecast period:
Exhibit: Rest of Asia Pacific 5G Chipset Market Revenue and Forecast to 2027 (US$ Mn)
ASIA PACIFIC 5G CHIPSET MARKET SEGMENTATION
By Operation Frequency
By Product
By End-User
By Country
5G Chipset Market - Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 321.9 Million |
| Market Size by 2027 | US$ 8,674.0 Million |
| CAGR (2019 - 2027) | 44.4% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Operation Frequency
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific 5G Chipset Market is valued at US$ 321.9 Million in 2019, it is projected to reach US$ 8,674.0 Million by 2027.
As per our report Asia Pacific 5G Chipset Market, the market size is valued at US$ 321.9 Million in 2019, projecting it to reach US$ 8,674.0 Million by 2027. This translates to a CAGR of approximately 44.4% during the forecast period.
The Asia Pacific 5G Chipset Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific 5G Chipset Market report:
The Asia Pacific 5G Chipset Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific 5G Chipset Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific 5G Chipset Market value chain can benefit from the information contained in a comprehensive market report.
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