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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 vice president of AI for 1105 Media, where she specializes in training internal and external customers on maximizing their business potential via a wide variety of generative AI technologies as well as developing cutting-edge AI content and events. She's the author of "ChatGPT Prompt 101 Guide for Business Uses," regularly leads research studies on generative AI business usage, and serves as the director of AI Boardroom, a new resource for C-level executives looking to excel in the AI era. Prior to her current position she was a technical leader for 1105 Media's Web, advertising and production teams as well as editorial director for a suite of enterprise technology publications, including serving as founding editor of PureAI.com. She has 20 years of enterprise technology journalism experience, and regularly speaks and writes about generative AI, AI, edge computing and other cutting-edge technologies. She can be reached at bnagel@1105media.com.