Global 5G Chipset Market Growth: Projected To Reach $68.68 Billion By 2029 With An Impressive 32.4% CAGR

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The Business Research Company's 5G Chipset Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, June 16, 2025 /EINPresswire.com/ -- The 5G chipset market size has seen explosive growth in recent years, escalating from a value of $16.88 billion in 2024 to $22.38 billion in 2025. This equates to a remarkable compound annual growth rate CAGR of 32.5%. Such growth in the historic period can be ascribed to the evolution of mobile communication standards, an ever-increasing demand for higher data transfer rates, the widespread adoption of internet of things IoT devices, accelerated development of mobile broadband services and the emergence of smart cities and connected infrastructure.

What's Fueling The Growth Of The 5G Chipset Market Going Forward?

By 2029, it is forecasted that the 5G chipset market value will bloom to $68.68 billion, demonstrating a consistent CAGR of 32.4%. An array of factors can be credited for this significant growth, including the implementation of 5G for industrial automation and IoT, extension of 5G networks for superior mobile connectivity, escalating demand for low-latency and high-bandwidth applications, the incorporation of 5G in autonomous vehicles and smart transportation, and the progressive deployment of 5G in remote and rural areas.

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What’s Driving The 5G Chipset Market Growth?

One driving force behind this rapid rate of growth is the expanding mobile data traffic, affirming its crucial contribution to the growth of the 5G chipset market. Mobile data traffic is the volume of data circulating across a network within the entire internet at any given point in time. The expansion of this mobile data traffic necessitates a significant improvement in mobile network performance and data connectivity, which 5G network generations are primed to deliver.

The Ericsson Mobility Report, published by the Telefonaktiebolaget LM Ericsson, a renowned networking and telecommunications product and service company from Sweden, estimates that global mobile data traffic is set to triple by 2029. 5G subscriptions are predicted to surpass 5.3 billion and average smartphone data consumption is projected to increase significantly from 21GB to 56GB per month between 2023 and 2029. The mounting mobile data traffic is primarily expected to drive the growth of the 5G chipset market.

What Key Player Strategies Are Driving The 5G Chipset Market?

The 5G chipset market is illustrated by numerous influential industry players such as Qorvo Inc., Qualcomm Technologies Inc., Huawei Technologies Co. Ltd., Samsung Electronics Co. Ltd., UNISOC Communications Inc., Intel Corporation, MediaTek Inc., Infineon Technologies AG, Xilinx Inc., NOKIA CORPORATION, Skyworks Solutions Inc., NXP Semiconductors, Advanced Micro Devices Inc., International Business Machines Corporation, Broadcom Inc., Marvell Technology Group Ltd., Analog Devices Inc., Renesas Electronics Corporation, Fujitsu Limited, Integrated Device Technology Inc., Texas Instruments Incorporated, STMicroelectronics N. V., Murata Manufacturing Co. Ltd., Cavium Inc., MACOM Technology Solutions Holdings Inc., Anokiwave Inc., Sequans Communications S. A., MaxLinear Inc., Inseego Corp., Sierra Wireless Inc., Telit Communications PLC, Quectel Wireless Solutions Co. Ltd., Fibocom Wireless Inc.

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What Are The Emerging Trends In The 5G Chipset Market?

Innovations in product development are surging as a primary trend within the 5G chipset market. Major market players are focusing on the development of exceptional products to solidify market growth. An instance of such innovation is the Snapdragon 4s Gen 2 chipset, launched by Qualcomm Technologies, Inc., a US-based wireless telecommunications product and service company, in July 2024. Designed to enhance the affordability of 5G smartphones, this chipset enables standalone SA 5G network compatibility at a significantly reduced price point, making advanced mobile technology accessible to a broader audience, particularly in emerging markets like India.

How Is The 5G Chipset Market Segmented?

Segmentation of the 5G chipset market as covered in the report is as follows:

- By Integrated Circuit: Radio Frequency Integrated Circuit RFIC, Application-Specific Integrated Circuit ASIC, Cellular Integrated Circuit Cellular IC, Millimeter Wave Integrated Circuit mmWave IC
- By Operational Frequency: Sub 6GHz, Between 26 and 39 Ghz, Above 39 Ghz
- By Vertical: Manufacturing, Energy And Utilities, Media And Entertainment, IT And Telecom, Transportation And Logistics, Healthcare, Other Verticals

Further subsegmentation includes:

- By Radio Frequency Integrated Circuit RFIC: Power Amplifiers PAs, Low Noise Amplifiers LNAs, Transmitters, Receivers
- By Application-Specific Integrated Circuit ASIC: Digital ASICs, Analog ASICs, Mixed-Signal ASICs
- By Cellular Integrated Circuit Cellular IC: Modems, Baseband Processors, RF Transceivers
- By Millimeter Wave Integrated Circuit mmWave IC: mmWave Transceivers, mmWave Amplifiers, mmWave Antennas

What Are The Regional Insights In The 5G Chipset Market?

In terms of regional insight, Asia-Pacific proved to be the dominant force within the 5G chipset market in 2024. Looking forward, the region is also expected to deliver the fastest growth over the forecast period, with the report also covering other key regions such as Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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