Global Multi

Global Multi-Mode Chipset Market to
Reach Around US$ 11,960.1 Million
by 2026
global multi-mode chipset market was valued at around US$ 4,509.7Mn in 2017 and
is anticipated to register a stable CAGR of over 11% during the forecast period 2018
to 2026, according to a new report published by Transparency Market Research
(TMR) titled “Multi-Mode Chipset Market” – Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast, 2018–2026.” increasing deployment of LTE networks,
rapid technological advancement in the field of cellular connectivity, and growing
popularity of devices that support 5G NR with integrated gigabit LTE has increased
the penetration and growth of the multi-mode chipset market globally. The market in
North America is expanding at a significant CAGR of 11.9% on the backdrop of
numerous technological innovations in cellular connectivity and increasing popularity
of smartphones.
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Increasing Deployment of LTE networks to Drive Market Growth
The growing necessity for wireless communication networks offering high capacity
and speed has increased the deployment of LTE networks. Various
telecommunication operators across the world are deploying advanced LTE networks
in order to deliver seamless mobility, low latency, high efficiency, over-the-air
encryption, and improved bandwidth support. Telecom operators from North America
are continuously taking efforts to introduce advanced technologies such as LTE and
5G to improve the speed of connectivity in order to meet the increasing consumer
demand for high speed data networks. In February 2017, Qualcomm Technologies,
Inc. announced the expansion of “Qualcomm Snapdragon X50 5G” modem family to
include 5G New Radio (NR) multi-mode chipset solutions to address a wide range of
use cases and deployment scenarios. Key trends prevalent in the multi-mode chipset
market are multi-mode chipsets for smart devices, 5G technology devices,
miniaturized multi-mode chipsets, and multi-mode chipsets with IoT connectivity.
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Smartphone Segment to Dominate the Global Multi-Mode Chipset Market
The application segment is divided into smartphones, tablets, wearable devices and
others. Smartphones segment is anticipated to dominate the market owing to growing
popularity of smartphones around the globe. Various technological advancements
such as high speed data networks and emergence of 5G are shaping the future
communications on mobiles. These factors are expected to boost the growth of the
multi-mode chipset market. Smartphone segment is anticipated to expand at the
highest CAGR of 11.6% during the forecast period 2018 to 2026. Wearable devices
segment is projected to expand at a significant CAGR over the forecast period owing
to the growing adoption of wearable devices for various activities such as health
fitness tracking, sports, and vehicle tracking.

Global Multi-Mode Chipset Market to Reach Around US$ 11,960.1 Million by 2026

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