5g Chipset Market size is anticipated to reach USD 143.69 billion by 2030
The global 5G chipset market size was estimated at USD 39.32 billion in 2023 and is expected to grow at a CAGR of 20.7% from 2024 to 2030. Increasing demand for broad network coverage and high-speed internet and high use of Machine-to-Machine (M2M) communication technology are some of the major growth driving factors. In addition, the growing adoption of 5G networks in smart cities, automobiles, and the healthcare sector is also driving the demand for 5G chipsets. The surged use of connected cars, connected devices, smartphones, and tablets is further contributing to the market growth. The increasing penetration, adoption, and launch of 5G smartphones across the world is driving the demand for 5G chipsets. According to the GSMA’s The Mobile Economy 2023 report, 5G adoption is expected to increase owing to cheaper devices and new network deployments. By January 2023, there were around 229 commercial 5G networks across the globe, with more than 700 5G smartphone mo...