Global 5G Chipsets Market Worth $17.11 Billion by 2026 - Strategic Partnerships with System Integrators in Developing Economies to Provide Lucrative Growth Opportunities
DUBLIN, Jan. 14, 2022 /PRNewswire/ -- The "Global 5G Chipset Market is further based on Industry Vertical, Product, Integrated Circuit, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global 5G Chipset Market is estimated to be worth USD 4.85 billion in 2021, and is expected to reach USD 17.11 billion by 2026, growing at a CAGR of 28.67%.
The market is anticipated to witness a growth in demand owing to rapid development in automated devices, drones, home automation devices, autonomous driving, multiuser gaming, videoconferencing, live streaming, telemedicine, and augmented reality. The significant advantages of 5G network would be its low latency and greater bandwidth. Higher bandwidth allows more data to flow through the network, while lower latency enables the time taken to travel from one point to another in the minimum amount of time.
Moreover, other favorable characteristics of 5G include very high coverage, low power consumption for mobile phones and IoT devices, and maximum network availability. An increase in mobile broadband usage is expected to drive the growth of the Global 5G Chipset Market. The demand for higher internet speed by the consumers met by the 5G network and increased demand for mobile data services is expected to boost the Global 5G Chipset Market remarkably.
Moreover, the establishment of the 5G standard requires very high infrastructure cost in the deployment of multiple low-power base stations to meet the growth in demand for higher network capacity. This is expected to restrict the market growth in the early stages.
On the other hand, the integration of 5G services with satellite communication and strategic partnerships with system integrators in developing economies provide lucrative growth opportunities for the market.
The Global 5G Chipset Market is segmented by IndustryVertical, Integrated Circuit, Frequency, Product, and Geography.
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
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