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The 5G chipset market is expected to grow from USD 12.8 billion in 2020 to USD 67.2 billion by 2027, at a CAGR of 26.7%.
The major factors driving the growth of the 5G chipset market are the growing demand for high-speed internet and broad network coverage, increasing cellular IoT connections, and an increase in mobile data traffic. However, the high cost of the 5G chipset is expected to restrain the growth of the market.
RFIC segment to witness highest growth in 5G chipset market in coming years
RFIC which includes RF transceiver and RF FE segment is expected to witness highest CAGR in coming years. The mobiles devices and telecommunication infrastructure segments are expected to be the major contributors to the growth of the RFIC market. The increasing number of RF transceiver ICs in smartphones is the key factor expected to drive the growth of the 5G chipset market for RFIC. The deployment of mmWave I