The Asia Pacific 5G chipset market accounted for US$ 321.9 Mn in 2019 and is expected to grow at a CAGR of 44.4% over the forecast period 2019-2027, to account for US$ 8,674.0 Mn in 2027
NEW YORK, Jan. 13, 2020 /PRNewswire/ --
The Asia Pacific 5G chipset market accounted for US$ 321.9 Mn in 2019 and is expected to grow at a CAGR of 44.4% over the forecast period 2019-2027, to account for US$ 8,674.0 Mn in 2027. Driving factors such as a rise in demand for a reliable communication network and rapid growth in the developments of smartphones are anticipated to have a huge impact on the development of 5G chipset market in the coming years. Further, concerns around spectrum harmonization for 5G globally are expected to hinder the market growth in the coming years and have a high impact on the 5G chipset market in the shorter term. APAC is expected to be the fastest-growing region in the deployments of 5G infrastructures. The major 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, huge 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 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 the 5G chipset market in the region.
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The 5G chipset market is fragmented in nature due to the presence of several end-users, and the competitive dynamics in the market are anticipated to change during the coming years.In addition to this, various initiatives are undertaken by governmental bodies to accelerate the 5G chipset market further.
The governments of most of the economies in the APAC region are focusing on the advancement of 4G LTE in order to ensure a seamless transition into 5G technology.In APAC, China will lead the initial commercialization of 5G, due to the frequent adoption of advanced technology, huge population, and strong government support for 5G development in the country.
Furthermore, the government of Japan has funded about USD 300 million for promoting the Industrial Internet of Things (IIoT), with other technologies such as artificial intelligence, big data, and robotics. The government is supporting the advancement of faster fiber-optic cables for enabling these technologies that would form the backbone for the efficient working of 5G networks.
The 5G chipset market by product is segmented into devices, customer premises equipment, and network infrastructure equipment.During the forecast period of 2019 to 2027, the devices segment is anticipated to be the largest contributor in the 5G chipset market.
The penetration rate of mobile/smartphones is very wide in APAC region, as this region is the home of highly penetrated market across the world namely: Hong Kong, Taiwan, Japan, and Singapore.According to certain study it has been noticed that the China, Japan, and South Korea will drive the advancement of 5G technology.
Furthermore, Australia is harnessing the opportunities of the adoption of 5G Technology.
The overall 5G chipset market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the 5G chipset market.
It also provides an overview and forecast for the 5G chipset market based on all the segmentation provided with respect to the Asia Pacific region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the 5G chipset market. Some of the players present in 5G chipset market are Broadcom, Inc., Huawei Technologies Co., Ltd., International Business Machines Corporation, Infineon Technologies AG, Mediatek Inc., Nokia Corporation, Qualcomm Incorporated, Samsung Electronics Co., Ltd., Telefonaktiebolaget Lm Ericsson, and Xilinx, Inc. among others.
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