According to a new market research report published by Transparency Market Research titled ‘5G Chipset Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2026,’ the global 5G chipset market is estimated to be valued at US$ 1,571.9 Mn by 2019 and is expected to expand at a CAGR of 44.01% from 2019 to 2026, to reach value of US$ 20,195.8 Mn by the end of the forecast period.
Commercialization of the 5G technology across the globe to fuel the global 5G chipset market
Various telecom operators as well as chipset manufacturers are investing significantly in research and development activities for commercialization of the 5G technology. Telecom operators are collaborating with various network equipment providers as well as service providers to accelerate the commercialization of 5G. In November 2018, Huawei, a prominent network equipment company, announced to have signed 22 commercial contracts for 5G. The company is currently working with more than 50 carriers on 5G commercial trials. Furthermore, various chipmakers are introducing advanced 5G chipsets in the market in order to accelerate the adoption of 5G across the globe. For instance, in December 2018, Qualcomm, a prominent chipmaker launched its flagship Snapdragon 855 chip, which would facilitate use of the 5G technology in mobile phones.