5g Chipset Market expected to grow at a CAGR of 20.7% from 2024 to 2030

The global 5G chipset market size was estimated at USD 39.32 billion in 2023 and is expected to grow at a CAGR of 20.7% from 2024 to 2030. Increasing demand for broad network coverage and high-speed internet and high use of Machine-to-Machine (M2M) communication technology are some of the major growth driving factors. In addition, the growing adoption of 5G networks in smart cities, automobiles, and the healthcare sector is also driving the demand for 5G chipsets. The surged use of connected cars, connected devices, smartphones, and tablets is further contributing to the market growth.

The increasing penetration, adoption, and launch of 5G smartphones across the world is driving the demand for 5G chipsets. According to the GSMA’s The Mobile Economy 2023 report, 5G adoption is expected to increase owing to cheaper devices and new network deployments. By January 2023, there were around 229 commercial 5G networks across the globe, with more than 700 5G smartphone models launched, including more than 200 in 2022. Thus, with the growing number of 5G smartphone launches worldwide, the demand for 5G chipsets is expected to rise between 2024 and 2030.

Gather more insights about the market drivers, restrains and growth of the Global 5g Chipset Market

5G Chipset Market Report Highlights

Based on type, the RFICs segment dominated the market in 2023. The rising complexity of smartphones, which necessitates the use of additional RF transceiver ICs to support numerous antennas for features such as 4G/5G connection, Wi-Fi, Bluetooth, GPS, and NFC, is a major factor driving the segment growth.
Based on operating frequency, the Sub-6 GHz segment dominated the market in 2023. Increasing use of Sub-6 GHz technologies to provide comprehensive coverage in urban and rural regions, since these frequency bands offer more range and penetration than higher mmWave bands, is a primary factor driving the segment growth.
Based on processing node type, the 7 nm segment dominated the market in 2023. The increasing use of the 7 nm technology node in chip design, which offers lower power consumption, greater switching performance, and higher density, is a primary factor driving the segment growth.
Based on deployment type, the smartphones segment dominated the market in 2023. The segment's growth is mostly attributed to the rising customer demand for mobile connection that is both quicker and more dependable.
Based on vertical, the IT telecommunication segment dominated the market in 2023. Significant factors influencing the segment growth include major manufacturers' extensive efforts in developing 5G chipset modules for telecom base stations, and other communication equipment’s.
The Asia Pacific region dominated the market in 2023 owing to the rising demand for high-speed connection by consumers and the growing usage of modern technologies such as IoT, AI, and cloud computing.
In September 2023, Qualcomm Technologies, Inc. announced an agreement with Apple Inc. to provide Snapdragon 5G Modem-RF Systems for upcoming smartphone releases spanning 2024 through 2026. This partnership reinforces Qualcomm Technologies, Inc.’s continued dominance in 5G technologies and product innovation.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

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Segments Covered in the Report

Grand View Research has segmented the global 5G chipset market based on type, operating frequency, processing node type, deployment, vertical, and region:

5G Chipset Type Outlook (Revenue, USD Million, 2019 - 2030)

Modems
RFICs
- RF Transceivers
- RF FE
Others

5G Chipset Operating Frequency Outlook (Revenue, USD Million, 2019 - 2030)

Sub-6 GHz
24-39 GHz
Above 39 GHz

5G Chipset Processing Node Type Outlook (Revenue, USD Million, 2019 - 2030)

7 nm
10 nm
Others

5G Chipset Deployment Type Outlook (Revenue, USD Million, 2019 - 2030)

Telecom Base Station Equipment
Smartphones/Tablets
- Single-Mode
  - Standalone
  - Non-Standalone
- Multi-Mode
Connected Vehicles
- Single-Mode
  - Standalone
  - Non-Standalone
- Multi-Mode
Connected Devices
- Single-Mode
  - Standalone
  - Non-Standalone
- Multi-Mode
Broadband Access Gateway Devices
- Single-Mode
  - Standalone
  - Non-Standalone
- Multi-Mode
Others
- Single-Mode
  - Standalone
  - Non-Standalone
- Multi-Mode