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Report: 5G Chip Market To Grow to Almost $23 Billion by 2027
The global 5G chipset market -- currently estimated at apx.$1.03 billion in 2019 -- is expected to grow at a compounded annual growth rate (CAGR) of 41 percent over the next seven years to reach $22.86 billion by 2027, according to research firm Reportlinker.
According to the report, smart phones, industrial manufacturing, automotive, defense and consumer electronics are the industries that will lead the demand.
"A key trend that will prominently affect the 5G chipset market in the coming years is the emergence of industrial and residential use cases in the forecast period. This factor is expected to boost the 5G chipset market," a summary of the report stated. "The networks have evolved to handle use cases with different demands on data rates, mobility, scalability, latency, security, integrity, availability, and reliability."
"Such demands can be met with the help of distributed cloud architecture, which allows the applications to be deployed at a central, distributed and edge sites, to meet specific use case requirements," it continued.
The full report is available for purchase here.
About the Author
Becky Nagel is the former editorial director and director of Web for 1105 Media's Converge 360 group, and she now serves as vice president of AI for company, specializing in developing media, events and training for companies around AI and generative AI technology. She's the author of "ChatGPT Prompt 101 Guide for Business Users" and other popular AI resources with a real-world business perspective. She regularly speaks, writes and develops content around AI, generative AI and other business tech. Find her on X/Twitter @beckynagel.