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.
The global 5G Processor Industry 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.
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The 5G processor market has been considered for spectrum and end-user.
Spectrum-wise, the primary categories include mmWave spectrum and Gigabit LTE spectrum. The mmWave spectrum is the top segment in the market, as it is affordable and is also perfect for applications that don’t necessary require fast transfer speeds.
The end-users in the global market include telecommunication, manufacturing, consumer electronics, automotive, IoT and others (military, aerospace, aviation, and more). The telecommunications industry is the leading end-user segment, on account of the 5G processor mobile industry. 5G processors are expected to be find widespread use in the smartphone market owing to their efficiency and speed and also on account of them being the obvious successor to the 4G processors. In addition, with rising automation of production facilities in the manufacturing industry, the demand for seamless communication between diverse machines and the human supervisors has increased significantly, leading to higher demand for 5G processor in manufacturing.
The 5G processor market growth has been assessed in the key regions of North America, APAC or Asia Pacific, Europe and RoW or Rest of the World.
North America has reached the pinnacle of the global 5G processor market, backed strongly by the thriving telecommunications industry and a manufacturing industry with highly automated plants. The persistently expanding automotive sector along with a robust smart device market in the region also induces business growth. Also, increasing efforts to develop 5G processors for smartphones applications, like augmented reality (AR) gaming, virtual reality (VR) gaming, and UHD video can also bolster the market growth in the preceding years.
Being a technically advanced region, Europe can observe a commendable growth in the coming years as a result of a flourishing automated manufacturing sector along with a rising number of people that are focused on the IoT interconnectivity of devices.
As the fastest-gaining market, APAC’s strongest booster can be its expansive telecommunication industry. Japan and South Korea consist of extremely advanced and thriving automated manufacturing plants that also work in favor of the regional market.
The RoW market can benefit from the heightened demand for 5G processors in the telecommunication sector of the region and the rising industrialization rate.
Some of the leading competitors in the market are Imagination Spreadtrum, Technologies, MediaTek, Intel Corporation, AMD, Samsung Electronics Co. Ltd, Hisilicon (Huawei), ARM, Apple Inc., UniSoc Communication, Nvidia, Qualcomm, and more.
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