5G Chipset Market Size, Share and Industry Growth by 2027

 

The 5G chipset market is estimated to account US$ 1.03 Bn in 2019 and is expected to grow at a CAGR of 41.0% during the forecast period 2020 – 2027, to account to US$ 22.86 Bn by 2027.

Geographically, North America holds the largest 5G chipset market share, owing to rapid technological developments, numerous investments, and supportive Government policies in North American countries. However, Asia Pacific is projected to surpass North America over the forecast period. The government in this region are taking several initiatives such as investment funding are undertaken by the players to promote entire semiconductor industrial growth. The growth of in this region is driven by high demand for more semiconductor applications in automotive, industrial, consumer goods, and other electronic products including wireless, storage products.

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APAC is expected to be the fastest growing region in the deployments of 5G infrastructures. The primary reason for this is the high population density of China and India resulting in a large number of smartphone subscriptions, supporting government initiatives towards a digitalized economy, considerable investments in laying out optical fiber infrastructure that would connect to the backhaul of 5G networks and enhanced focus on concepts such as smart cities and smart buildings. China is the most populated country in the world, and a country with a large number of companies established. ZTE Corporation, Huawei Technologies, Inc. that are the two largest telecommunication companies in China are investing significant funds for the development of 5G technology. These new market initiatives and strategic partnerships are expected to continue during the forecast period, contributing to the high growth of 5G chipset market  in the region.

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