The global multi-mode chipset market was valued at around US$ 4,509.7Mn in 2017 and is anticipated to register a stable CAGR of over 11% during the forecast period 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled "Multi-Mode Chipset Market" - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 -2026." increasing deployment of LTE networks, rapid technological advancement in the field of cellular connectivity, and growing popularity of devices that support 5G NR with integrated gigabit LTE has increased the penetration and growth of the multi-mode chipset market globally. The market in North America is expanding at a significant CAGR of 11.9% on the backdrop of numerous technological innovations in cellular connectivity and increasing popularity of smartphones.
Increasing Deployment of LTE networks to Drive Market Growth
The growing necessity for wireless communication networks offering high capacity and speed has increased the deployment of LTE networks. Various telecommunication operators across the world are deploying advanced LTE networks in order to deliver seamless mobility, low latency, high efficiency, over-the-air encryption, and improved bandwidth support. Telecom operators from North America are continuously taking efforts to introduce advanced technologies such as LTE and 5G to improve the speed of connectivity in order to meet the increasing consumer demand for high speed data networks. In February 2017, Qualcomm Technologies, Inc. announced the expansion of "Qualcomm Snapdragon X50 5G" modem family to include 5G New Radio (NR) multi-mode chipset solutions to address a wide range of use cases and deployment scenarios. Key trends prevalent in the multi-mode chipset market are multi-mode chipsets for smart devices, 5G technology devices, miniaturized multi-mode chipsets, and multi-mode chipsets with IoT connectivity.
Smartphone Segment to Dominate the Global Multi-Mode Chipset Market
The application segment is divided into smartphones, tablets, wearable devices and others. Smartphones segment is anticipated to dominate the market owing to growing popularity of smartphones around the globe. Various technological advancements such as high speed data networks and emergence of 5G are shaping the future communications on mobiles. These factors are expected to boost the growth of the multi-mode chipset market. Smartphone segment is anticipated to expand at the highest CAGR of 11.6% during the forecast period 2018 to 2026. Wearable devices segment is projected to expand at a significant CAGR over the forecast period owing to the growing adoption of wearable devices for various activities such as health fitness tracking, sports, and vehicle tracking.
Growing Adoption of Multi-Mode Chipset due to Technological Advancements in Cellular Connectivity and increasing Penetration of 5G Devices in China, India, South Africa, Brazil, and Taiwan to Create More Opportunities in the Market
Geographically, the global multi-mode chipset market is divided into five major geographical regions, including North America, Europe, Asia Pacific, South America, and Middle East &Africa. In 2017, North America was the topmost revenue generating region followed by Asia Pacific. Telecom operators from North America are continuously taking efforts to introduce advanced technologies such as LTE and 5G to improve the speed of connectivity in order to meet the continuously increasing consumer demand for high speed data networks. The U.S. held the highest market share in 2017 in North America and is estimated to expand at a considerable CAGR during the forecast period. The market in Europe is anticipated to grow at a significant CAGR during the forecast period owing to the increasing deployment of technologically advanced chipsets for smart devices. The multi-mode chipset market in Asia Pacific is further expected to grow at the highest CAGR of 13.2% over the forecast period. Factors such as growing technological innovations and increasing adoption of devices that support 5G network are expected to drive the Asia Pacific multi-mode chipset market. Middle East & Africa and South America are expected to expand at a substantial pace due to the growing investments in the development of cellular connectivity in the regions.
Key Players Such as Intel Corporation, Qualcomm Technologies Inc., and Samsung Group are Likely to Continue to Lead the Global Multi-Mode Chipset Market
The company profiling of key players in the global multi-mode chipset market includes company overview, major business strategies adopted, SWOT analysis, and market revenues for years 2016 to 2018. The key players profiled in the global multi-mode chipset market includes HiSilicon Technologies Co. Ltd., Intel Corporation, Qualcomm Technologies Inc., Samsung Group, MediaTek, Spreadtrum Communications, Marvell Technology Group, Altair Semiconductor Inc., Broadcom Corporation, and GCT Semiconductor Inc. Various players are establishing partnerships to provide technologically advanced multi-mode chipsets on a large scale in order to meet the continuous increasing demand for high speed data networks.
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