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Technavio’s latest market research report on the global multi-mode chipset market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global multi-mode chipset market will grow at a CAGR of over 10% during the forecast period. The increasing deployment of LTE networks by telecommunication operators is a major factor driving the market’s growth.
Telecommunication operators across the globe have been extensively deploying LTE networks. This is one of the major growth inducers of the global multi-mode chipset market. The deployment of LTE networks indicates that there is a strong demand from cellular device users for 4G capabilities. The LTE networks should have the ability to support the transition from 2G/3G to 4G.
Growing popularity of devices that support 5G NR with integrated gigabit LTE
One of the major trends as identified by Technavio is the increasing popularity of devices that support 5G NR with integrated gigabit LTE. There has been an increasing interest in deploying 5G by telecommunication operators across the world. This is primarily because of the possibility to achieve superfast data transmission speeds, which are 1,000 times faster than the present 4G services. To commercialize 5G, multi-mode chipset manufacturers such as QUALCOMM and MediaTek have started focusing on Gigabit LTE. The Gigabit LTE will be able to meet data requirements of many mobile connections. This is possible since Gigabit LTE can provide fiber-optic-like cable download speeds without the use of any cable.
By commercializing Gigabit LTE, devices that are equipped with the technology will be able to support strong signals and fast speeds in crowded locations. Users can obtain quick cloud access along with fast video and music streaming.
“For a telecommunication and mobile operator, Gigabit LTE is the foundation to deploy 5G networks during the forecast period. Therefore, investments toward achieving the Gigabit LTE will require highly efficient multi-mode chipsets, further driving the growth of the market,” says a senior analyst at Technavio for embedded systems research.
The global multi-mode chipset market by geography has been derived based on the sales of multi-mode chipsets to smartphones, tablets, wearables, and notebooks manufacturers located across the Americas, EMEA, and APAC. The global multi-mode chipset market by geography was dominated by APAC with a market share of close to 79% in 2017, followed by the Americas and EMEA. APAC is expected to witness the fastest growth during the forecast period increasing its market share by a further 3% while the other two regions will witness a small reduction in their market share by 2022.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.