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 vice president of Web & Digital Strategy for 1105's Converge360 Group, where she oversees the front-end Web team and deals with all aspects of digital projects at the company, including launching and running the group's popular virtual summit and Coffee talk series . She an experienced tech journalist (20 years), and before her current position, was the editorial director of the group's sites. A few years ago she gave a talk at a leading technical publishers conference about how changes in Web browser technology would impact online advertising for publishers. Follow her on twitter @beckynagel.