5G Processor Market
5G processors are designed to be compatible with 5G, the latest network communication technology. They are currently able to handle graphics-heavy games, large applications, and processing a huge volume of data. The global 5G processor market report by Market Research Future (MRFR) highlights various trends and challenges to be faced by industry stalwarts during the forecast period (2020-2027). The COVID-19 pandemic and its effect on the industry has been explored in high detail.
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The global 5G processor market is expected to expand at 18.3% CAGR over the forecast period. It can experience heavy demand owing to demand for high computing speeds and accuracy in processes. Increase in mobile data traffic, high-speed internet, and IoT connectivity can drive market growth significantly. Distance learning, live streaming, videoconferencing, and telemedicine are likely to push the demand for 5G processors. Telecommunication organizations are increasing their capacity to handle higher data loads and machine-to-machine communication can push the need for 5G processors. Development of cellular networks to eliminate high latency can drive the market demand. Demand from mobile applications and testing of AR, VR, and 3D centric content can open up new opportunities for the market.
The COVID-19 pandemic has created hurdles in the supply chain of 5G processor manufacturers. But relaxation of rules has led to resumption of production of chips. Mobile infrastructure upgrades pursued by major cities and demand for high-speed internet can push the 5G processor market significantly. Financial stimulus packages and low interest rates announced by governments can provide relief to the industry.
But the high costs of 5G processors can limit the market growth.
By spectrum, the 5G processor market is divided into Gigabit LTE and mmWave. The latter is the largest and fastest-growing segment. The mmWave spectrum is in the range of 30–300 GHz and ideal for high-speed wireless communication. The range can be expanded with the help of short antennas and propagated over long distances.
By end user, the market is segmented into consumers, IoT, telecommunication, manufacturing, automotive, and others. Telecommunication is the largest end user of the market due to heavy use of processors in smart devices and IoT systems. Evolution of communication standards and expectations of customers can drive the demand for 5G processors in the sector. On the other hand, the automotive sector is expected to create heavy demand in the market owing to launch of autonomous cars and increasing capacity of M2M technology.
Samsung Electronics Co. Ltd, MediaTek, Nvidia, AMD, ARM, Intel Corporation, Spreadtrum, Apple Inc., Hisilicon (Huawei), Imagination Technologies, Qualcomm, and UniSoc Communication are key players of the global 5G processor market. Players are forming partnerships with heavyweights in select industries to gain the lead in demand and expand their reach.
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North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW) are regions considered for the global 5G processor market.
APAC is expected to showcase the fastest growth in the market owing to its huge telecommunication sector. The changing demands of customers and creation of a common consortium to push development in 5G to countries such as China, South Korea, India, and Japan can bode well for the 5G processor market. Partnerships and investments by venture capital firms can boost the market growth in the region.
North America is predicted to showcase a remarkable growth rate due to growing industries of smartphones, manufacturing, telecommunication, and automotive. Presence of reputed chip makers and capacity of mmWave to increase network speeds and expand spectrum channels can drive the regional market growth. Rise of urban areas and use of technology such as Sub-6 to overcome interferences from trees and buildings can bode well for the market in the region.
Qualcomm has launched a new wireless processor capable of connecting tractors, robots, and self-checkout lanes to further increase the capabilities of IoT. The company aims to target clients in industries of retail, agriculture, mining, manufacturing, and construction.