The multi-mode chipset market is projected to reach a valuation of US$ 26.3 Bn by 2032 from US$ 8.2 Bn in 2022. It will rise rapidly at a CAGR of 12.4% throughout the forecast period.
The increasing deployment of LTE networks around the world, quick technological advancements in cellular connection, and the popularity of devices that support 5G NR with integrated gigabit LTE are all contributing to the global multi-mode chipset market’s growth.
Further, the demand for multi-mode chipsets rose rapidly as telecommunications companies worldwide started concentrating on delivering faster data transmission speeds than 4G services. This characteristic has piqued the interest of telecommunications operators all over the world in deploying 5G services. As a result, the sales of multi-mode chipset are anticipated to rise throughout the forecast period.
Moreover, some of the most well-known chipset manufacturers have begun commercialising 5G by focusing on Gigabit LTE.
The demand for multi-mode chipset is predicted to rise due to technical improvements. Furthermore, due to this reason, the sales of these chipset is also anticipated to rise.
Countries leading the initial wave of commercial 5G deployments have prioritised funding the development of advanced chipsets. Multi-mode is a popular choice among industry participants. Futher, this will likely boost the sales of multi-mode chipsets during the forecast period.
Over the years, new multi-mode architecture for 5G networks has made progress. It has opened the path for advancements in wireless communication systems. The efforts to reveal 5G SoC designs for smartphones are a good example.
Moreover, these designs will also include cutting-edge AI, broadening the market for chipset advancements. Additionally, in recent years, there has been an increase in demand for cutting-edge multimedia and visual experiences in virtual reality and augmented reality applications.
Key Takeaways:
- The smartphone segment is likely to lead the global multi-mode chipset marketwith a CAGR of 12.6%.
- The U.S. is anticipated to dominate the oil and gas data management software market with a CAGR of 13.5%.
- North America is anticipated to hold the largest market share. It is expected to grow at a CAGR of 13.9% during the forecast period.
- Most telecom carriers in a number of European nations are now supplying technologically advanced chipsets for smart devices.
- United Kingdom is anticipated to witness high growth potential in the multi-mode chipset marketwith a CAGR of 11.7%.
- Demand for multi-mode chipset in APAC is expected to remain focused in China and India.
- India’s multi-mode chipset market is expected to develop at the CAGR of 14.6% throughout the projection period.
- Rising Demand for High-speed Internet and Wide Network Coverage to Boost the Chipset Market
Competitive Landscape:
Moreover, some of the multi-mode chipset market key players profiled in the study are HiSilicon Technologies, Intel Corporation, Qualcomm Technologies Inc., Samsung Group, and MediaTek.
With 5G multi-mode chipset designs, a few players have entered the race. Further, a growing number of 5G products, such as smart home devices, self-driving vehicle, gadgets, cloud services, and next-generation computing, are generating new growth opportunities for the multi-mode chipset market.
Recent Developments
- Qualcomm announced the Snapdragon 750G 5G Mobile Platform. This is a new 5G mobile platform in the 7-series that supports 5G with spectacular HDR gaming and on-device AI, in September 2020.
- Qualcomm announced the Snapdragon 8cx Gen 2 5G compute platform in September 2020. This is the company’s most powerful and efficient compute platform. The platform is built on the unique first-generation Snapdragon 8cx 5G computing platform.
Meanwhile, these insights are based on a report on Multi-mode Chipset Market by Fact.MR.
