According to a recent report published by Allied Market Research, titled,"5G Chipsets Market by IC Type, Operational Frequency, Product and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020 - 2026,"the global 5G Chipsets market is expected to be $2,120.0 million in 2020, and is projected to reach $22,929.0 million by 2026, growing at a CAGR of 48.7% from 2020 to 2026.
Asia-Pacific is expected to dominate the market, followed by North America. In 2020, the U.S. is expected to dominate the North America market and Germany is expected to lead the overall market in Europe. While, in Asia-Pacific, China is expected to dominate the market.
Proliferation of M2M/IoT connections and increase in demand for mobile broadband services drive the growth of the market. However, high investment and technological & infrastructure challenges in the implementation of 5G network and privacy & security concern impedes this growth. In the near future, rise in government initiatives for building smart cities in the Asia-Pacific is expected to create lucrative opportunities for the key players operating in this market.
Key Findings of the 5G Chipsets Market:
- Based on IC type, the ASIC segment is expected to lead the global 5G chipset market in 2020.
- Asia-Pacific is expected to hold a major market share in 2020.
- By industry vertical, the consumer electronics segment is anticipated to dominate the market in 2020.
- Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
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