The North America 5G chipset market accounted for US$ 455.7 Mn in 2019 and is expected to grow at a CAGR of 42.9% over the forecast period 2019-2027, to account for US$ 7934.4 Mn in 2027. Increase in demand for a more robust, reliable and lower latency communication network and exponential growth in the developments of smartphones are the major factors that are propelling the growth of 5G chipset market. However, the increasing concerns about spectrum harmonization for 5G are restricting the market growth. Moreover, increasing government initiatives towards 5G technology in developing economies are anticipated to boost the 5G chipset market growth in the coming years.
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A large number of global players have also ventured into developing, research and innovations for the 5G technology globally. Some of the leading vendors, carriers and stakeholders in the 5G chipset market include Qualcomm, Samsung Corporation, Ericsson, Nokia Networks, Huawei Telecommunications Inc. and ZTE Corporation who have formed partnerships with various stakeholders across the globe in funding for research & development of the 5G technology.
In response to these business opportunities, the Governments of various emerging economies globally have realized the potential of 5G and impact this technology has on GDP. Also, it is projected that owing to digitalization of businesses, major jobs would be created that would have a positive impact on the economy.
The 5G chipset market is fragmented in nature due to the presence of several end-users, and the competitive dynamics in the market are anticipated to change during the coming years. In addition to this, various initiatives are undertaken by governmental bodies to accelerate the 5G chipset market further. The streamlining of regulations in three key areas influence the development of 5G over the next decade in the North American region.
These three key areas include spectrum, infrastructure, and economics. The US operators believe that there is a need for a regulatory framework for sufficient availability of 5G spectrum. The Federal Communications Commission (FCC) is, therefore, focusing on getting the mmWave spectrum to auction.
Also, it has been identified to frame a regulatory policy that would reduce the barriers for the deployment of small cells in the North American region. The US operators also state that the investment needed for 5G infrastructure deployment needs to be supported by a long-term policy. This will aid in fueling the investments in the US infrastructure and increase the business activities in other major industries; this could, in turn, spur additional demand for services provided by US operators.
The operation frequency segment of the 5G chipset market is further categorized into sub-6 GHz, between 26 and 39 GHz, and above 39 GHz. The sub-6GHz of 5G chipset market led the market in 2019 and is expected to continue its dominance during the forecast period. 5G chipset manufacturers present in the market are taking initiatives to propel the growth of 5G chipset. For instance, in 2019, MediaTek plans to roll out new 5G SoC by 2020. This chip is compatible with standalone and non-standalone 5G networks, which operates in the sub-6 GHz frequency. With an evolution of 5G networks, it is expected that it would further positively impact the deployment of broad range of spectrum bands.
In this, utilization of spectrum bands which are below 6 GHz is the vital aspect of facilitating deployment of reliable network coverage.
The overall 5G chipset market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the 5G chipset market. It also provides an overview and forecast for the 5G chipset market based on all the segmentation provided with respect to the North American region. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
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The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the 5G chipset market. Some of the players present in 5G chipset market are Broadcom, Inc., Huawei Technologies Co., Ltd., International Business Machines Corporation, Infineon Technologies AG, Mediatek Inc., Nokia Corporation, Qualcomm Incorporated, Samsung Electronics Co., Ltd., Telefonaktiebolaget Lm Ericsson, and Xilinx, Inc. among others.
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