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Albany, New York, May 10, 2019 (GLOBE NEWSWIRE) -- A fierce competition among myriad players exists in the global 5G chipset market, observes Transparency Market Research (TMR). This fragmented competitive landscape of the global 5G chipset market showcases the rivalry between several scales of players, who are constantly focusing on launching new products. However, these players are also seen highly investing on the development of products.
Constant product innovations and launching of these products tactfully are a couple of famous strategies adopted by most of the players in the global 5G chipset market. Such strategies help the market players in enhancing their brand image as well as gain a competitive edge. Moreover, such topmost players are engaging themselves in forming several strategic alliances with telecom operators from different regions. This approach is mainly to conduct 5G trials for accelerating the deployment of the 5G technology. For instance, Samsung’s approach in building chip using power-efficient 10-nanometer technology was the big hit in 2018. Renowned players’ names in the global 5G chipset market include Broadcom, Analog Devices, Huawei Technologies Co., Qualcomm Technologies., and Nokia Corporation.
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TMR’s analysts predict that the global 5G chipset market is anticipated to expand at a stellar 44.01% during the assessment period. Experts further estimate the valuation of the market in the end of the forecast period, which reveals the worth of US$ 20,195.8 mn. The market is valued at US$1,571.9 mn in 2019.
In terms of types, 7nm chipset segment is gaining traction in the global 5G chipset market as its manufacturing process is preferred by chipmakers. Moreover, the usage of 7nm chipset helps in reducing the overall chip size and offers efficient performance and ow power consumption. Region Wise, North America holds the maximum share in the global 5G chipset market. Rapid commercialization of the 5G technology makes the region dominate the global 5G chipset market.
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Surging Demand for Efficient and High Speed Internet Boosts Market
The 5G technology – fifth generation wireless connection is being designed in order to enhance the speed of wireless networks and responsiveness globally. The popularity and demand of the 5G chipset market can be attributed to the increasing demand for high-speed internet and broad network coverage combined with less power consumption. 5G chipset enables the transmission of 5G packet on portable hotspots, smartphones, IoT devices, notebook PCs. However, rapid proliferation of devices using the moderate speed of internet fuels the demand for a new wireless infrastructure known as 5G. All these factors are majorly propelling expansion in the global 5G chipset market.
Furthermore, the growth of the global 5G chipset market is further bolstered by the soaring demand for advanced technologies include machine-to-machine communication, artificial intelligence, and connected cars. Additionally, increasing IoT/M2M connections and rising demand for mobile data services are also providing major impetus to the growth of the global 5G chipset market. Along with these, growing number of research and development activities in network design and 5G technology are providing lucrative opportunities for the market players, which in turn is also influencing the growth of the global 5G chipset market.
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Rapid Global Commercialization of 5G Technology Fillips Market
Several telecom operators are merging with numerous network equipment services and providers for accelerating the commercialization of 5G. Huawei – a well-known network equipment company had announced to have signed total of 22 commercial 5G contracts in November 2018. Recently, the company is working with above 50 carriers on commercial trials of 5G. Moreover, a large number of chipmakers in the global 5G chipset market are also introducing latest 5G chipsets for fueling the adoption of 5G worldwide.
The review is based on a market research report by TMR, titled, “5G Chipset Market (Type - 7nm, 10nm; End user - Consumer Electronics, Industrial Automation, Automotive and Transportation, Health Care, Media and Entertainment, Energy and Utilities; Deployment - Devices, Customer Premises Equipment, Network Infrastructure Equipment) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2026”.
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The segmentation of global 5G Chipset market is based on:
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