The multi-mode chipset markets share is predicted to grow at an impressive CAGR of 12.4% during the forecasted period. The global multi-mode chipset market is estimated to be worth around US$ 26.3 Billion by 2032, rising up from a net worth of US$ 7.3 Billion in 2021.
Multi-mode chipsets have emerged as a step forward in the domain of chipset technology. Companies around the world can now fulfil the growing demand for next-generation wireless applications thanks to the unique design specifications achieved by multi-mode chipset market players.
With the advent of 5G multi-mode chipset designs, a number of cutting edge technologies such as smart home devices, self-driving vehicle gadgets, cloud computing services, and next generation computing have been introduced in the market. Proliferation in use of such technologies in our daily lives is expected to accelerate the sales of multi-mode chipsets in the coming years.
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Key Segments
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By Application :
- Smartphones
- Tablets
- Wearable Device
- Others
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By Region :
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
How Strong is the Competitive Landscape for the Multi-mode Chipset Market?
Integrated chip manufacturers, predictably have been preparing for the modern age technologies with a slew of new chipsets and motherboards over the last few years. 5G technology promises to completely link the market to smartphones of citizens living in any part of the world. According to the new market research report on multi-mode chipset, accelerating 5G adoption will necessitate a robust strategy to be followed by devise and chipset manufacturing companies.
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What are the Recent Developments in the Field of Multi-mode Chipset Market?
- Qualcomm Technologies unveiled its next-generation modem in December 2018, which is specifically designed for IoT applications like security systems, asset trackers, smart city sensors, health monitors along with a variety of wearable devices. When compared to its predecessor, this multi-mode chipset modem is very cost effective resulting in 70% less battery consumption.
- In August 2018, Qualcomm informed about introducing its future flagship smartphone platform, which will have a system-on-chip (SoC) based on 7nm processing node type. It is regarded as the first of its kind 5G capable mobile platform for cellphones and other mobile devices that can be used with the 7nm SoC.
What is the Future Prediction for the Multi-mode Chipset Market According to Different Segments?
“As per the emerging trend in multi-mode chipset market, all the top performing economies are expected to fuel the global wearable devices segment at a growth rate of over 10%. These regional markets have a combined market value of US$ 4.8 Billion in the present year 2022 that is projected to become approximately US$ 17.8 Billion by the end of this forecast period in 2032.”
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Which are the Major Application Segments of the Multi-mode Chipset Market?
On account of growing utility of smartphones around the world, the smartphone segment is expected to dominate the global multi-mode chipset market over the forecast timeframe. A number of technological breakthroughs pertaining to high speed data networks and the introduction of higher generation electromagnetic frequency spectrums are expected to influence the multi-mode chipset market trends in the future.
Over the forecast years of 2022 to 2032 the smartphone segment is expected to grow at the fastest rate by witnessing a CAGR of 12.6% as per the multi-mode chipset market statistics. Almost 54% of the total global revenue generated by the multi-mode chipset manufacturers is incurred from its sale to the smartphone manufacturing companies. The net worth of this segment is anticipated to reach nearly US$ 14.4 Billion by the end of year 2032.
However, due to the increasing popularity of wearable devices or gadgets among the younger generation this segment of application is expected to provide a significant push to the multi-mode chipset adoption trends in the coming years.
Tablets and other smart screen gadgets constituting the remaining segment of the multi-mode chipset market size have also supplemented the sales of multi-mode chipset owing to the higher demand for quality network services by the users on these devices.
