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 5G chipset market by process node has been segmented into less than 10 nm, 10–28 nm, and above 28 nm. Some of the major process nodes on which 5G chipset components such as modems and RFICs are manufactured include 5 nm, 7 nm, 10 nm, 14 nm, 28 nm, 45 nm, 60 nm, and so on. 5G chipsets with process node between 10 and 28 nm mostly include baseband processors for 5G infrastructure and RFIC components.

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5G devices operating in the Sub-6 GHz spectrum band are likely to play an important role in delivering widespread coverage and supporting multiple use cases. Companies such as Huawei and ZTE do 90% of their work in sub-6 GHz. Sub-1 GHz frequency support 5G services in urban, suburban, and rural areas and may find its role in IoT services. This spectrum is likely to help 5G services reach hard-to-reach and populated public areas. Spectrum from 1 to 6 GHz is used for coverage and capacity applications of 5G.

Rising demand for high-speed internet and large network coverage for several applications, such as distance learning, autonomous driving, multiuser gaming, videoconferencing, live streaming, telemedicine, and augmented reality, is expected to propel the growth of the 5G chipset market.

The continuous development of cellular networks has enabled users to experience faster data rates with low latency. The rapid rise in data volume has been largely driven by consumer demand for video, as well as business and consumer moves to use cloud services.