Multi-Mode Chipset Market (Application - Smartphones, Tablets, Wearable Devices) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
Albany, NY -- (SBWIRE) -- 10/22/2018 -- 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.
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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.
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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.