5G Chipset Market 2030: Navigating Challenges and Opportunities

The global 5G chipset market was valued at USD 39.32 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 20.7% from 2024 to 2030. Key factors driving this growth include the increasing demand for extensive network coverage and high-speed internet, as well as the rising utilization of Machine-to-Machine (M2M) communication technology. Additionally, the growing integration of 5G networks in smart cities, automotive applications, and the healthcare sector is further propelling the demand for 5G chipsets. The heightened use of connected devices, including cars, smartphones, and tablets, is also significantly contributing to market expansion.

The widespread penetration and adoption of 5G smartphones around the globe are fueling the demand for 5G chipsets. According to the GSMA’s report, "The Mobile Economy 2023," the adoption of 5G technology is expected to rise due to the availability of more affordable devices and the rollout of new networks. By January 2023, approximately 229 commercial 5G networks had been established worldwide, along with over 700 models of 5G smartphones being launched, including more than 200 in 2022 alone. As the number of 5G smartphone launches continues to increase globally, the demand for 5G chipsets is anticipated to rise significantly between 2024 and 2030.

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

Type Segmentation Insights

The RFICs segment was the leading contributor to the market in 2023, accounting for 45.09% of the global revenue. A significant factor driving the growth of this segment is the increasing demand for RF transceiver integrated circuits (ICs) in smartphones. As mobile data traffic continues to rise, there is a corresponding need for higher bandwidth and faster data rates, which necessitates the use of advanced RF transceiver ICs that can handle a broader range of frequency bands and modulation schemes. Furthermore, the growing complexity of smartphones, which require multiple RF transceiver ICs to support various antennas for functions like 4G/5G connectivity, Wi-Fi, Bluetooth, GPS, and NFC, is also playing a crucial role in the expansion of this segment.

Looking ahead, the modems segment is expected to experience substantial growth between 2024 and 2030. A key factor driving this growth is the integration of 5G modems into system-on-chip (SoC) designs. This integration not only enhances performance and reduces power consumption but also streamlines the design process for device manufacturers. Additionally, the demand for advanced modem designs capable of supporting faster data rates and lower latency is being propelled by the increasing need for high-quality video streaming and low-latency applications such as gaming and virtual reality.

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