The advent of modern telecommunication technologies has led to great reforms across the globe. Of the many technologies revolving around the telecommunication industry, 5G is one of the technologies that have invited extensive advancements. Based on this factor, the global 5G chipset market is prognosticated to gain immense growth across the assessment period of 2019-2029.
5G chipsets allow 5G packet transmission on all connected devices. The overwhelming need for connectivity across various industrial segments may serve as a game-changing factor for the 5G chipset market.
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Rising Investments in Next-Gen Infrastructure to Influence Growth of 5G Chipset Market
The inclining investments by major firms and conglomerates due to the escalating investments may prove to be a prominent growth generator for the 5G chipset market. Furthermore, the growing interest of many investors in the telecommunication industry owing to high returns may bring expansive growth for the 5G chipset market.
Increasing Smartphone Demand to Boost Growth of 5G Chipset Market
The smartphone industry is experiencing extensive demand from a large chunk of the populace. This aspect will prove to be a major growth contributor for the 5G chipset market. As the number of smartphones increase, the number of 5G chipsets will also increase exponentially. Thus, the demand for smartphones is directly proportional to the growth of the 5G chipset market.
Consistent developments are indicators of a thriving industry. The 5G chipset market has frequent additions in features and new launches by the players to increase their revenues. Here are some recent announcements and launches across the 5G chipset market:
- Qualcomm recently launched Snapdragon 5G chipset
- MediaTek launched the Dimensity 1200 and Dimensity 1100 5G chipsets
Such developments bring tremendous growth opportunities for the 5G chipset market. Many smartphones are inculcating 5G chipsets that can further propel the growth. Thus, all these factors prove to be growth enhancers for the 5G chipset market.
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