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Wireless Chipsets market is anticipated to reach $24.3 billion by 2026 at a CAGR of 4.31% during the forecast period 2021-2026. Wireless chipsets are specifically designed to enable communication between the wireless devices. The growth in the market is majorly attributed to the increasing penetration of IoT across industries, rising investment in wireless infrastructure such as mimo technology, access point equipment, media access control and others; and growing demand for smart home devices, smart phones and others. Wireless technology offers Wired Equivalent Privacy, which plays a major role in the growth of wireless chipset market size. Apart from that, the growing demand for automation will contribute towards the market growth during the forecast period. In addition, governments’ initiatives for digitalization and deep impact of Covid-19 have increased the adoption of wireless chipsets across industries. This will drive forward the wireless chipsets industry.
Wireless Chipsets Market Segment Analysis – By Application
By application, the wireless chipsets market is segmented into consumer electronics, automation, global positioning system devices and others. According to IndustryARC’s Wireless Chipsets market report, Consumer electronics segment is analysed to grow at highest CAGR of 5.6% during the forecast period 2021-2026, owing to the growing adoption of IoT and increasing purchasing power. Apart from that, technological advancements and cost effectiveness of these smart-devices boost the growth of this product. A recent report from Broadcom states that the company had shipped 125 million WI-FI 6 smart-phones and most of the devices include Broadcom Chips. Apart from this, to meet the growing demand for smart devices among the customers, organizations are launching advanced products. In March 2020, Samsung and MediaTek launched world’s first WI-FI 6 chipset integrated 8K QLED Y20TV. Hence, the growth is higher for consumer electronics compared to the other segments.
Wireless Chipsets Market Segment Analysis – By End-User Industry
The market is segmented into residential, commercial, industrial and government and public sector, based on end-user industry. The market for industrial sector is estimated to witness significant market growth with a CAGR of 5.28%, during the forecast period 2021-2026. Increasing demand for M2M communication solutions along with high penetration of IoT across industries is one of the major factors fuelling this growth. The growing requirement for automation in order to boost productivity, efficiency, security and others, across various industries such as healthcare, education, automotive, transportation and logistics, general manufacturing and others, is estimated to be major growth driver of this market. In October 2020, The ETSI announced the launch of a new version of DECT which supports massive machine type communication system and can be used in building automation, asset tracking, industry 4.0, condition monitoring and others. Similarly, in June 2020, to improve the performance of the buildings with integrated cloud-based business and operational technology data, Honeywell and SAP SE teamed up. Moreover, due to the out-break of COVID-19, the demand for healthcare services such as tele-medicine, remote patient monitoring, m-health and others, digital educational services, retail and e-commerce services and others is rising and it plays a crucial role in the growth of wireless chipsets market during the forecast period.
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Wireless Chipsets Market Segment Analysis – By Geography
North America is analysed to be the major region with 33% of Wireless Chipsets market share in 2020 for the Wireless Chipsets market owing to the early penetration of IoT, increasing demand for technologically advanced consumer electronics, smart devices and prominent investments for the development of wireless chipsets. Apart from that, early adoption of industrial automation plays a major role in growth of this market. According to the report of UiPath, published in June 2019, 61 % of US organizations use automation extensively. A recent report also shows that, not just for industrial sectors, US heavily rely on wireless infrastructure for stable network connections in residential and commercial sector. However, APAC is estimated to grow at the highest rate during the forecast period 2021-2026 majorly attributed to the rapid industrialization coupled with growing demand for automation across various industries, in the countries of the region. According to some recent research reports, Indian organizations are very much satisfied with the benefits resulting from automation and expecting financial profitability, revenue growth, operational cost reduction and others from the penetration of automation. Apart from that, governments’ initiative to promote digitalization fuels the market growth of this region in the forecast period.
Wireless Chipsets Market Drivers
Growing Demand for Smart Devices across the World is set to boost the growth of this market:
With technological advancement and economic development, the demand for smart-devices such as smart-phones, smart watches, smart-television, smart cameras, tablets, desktops, PCs, smart home devices and others, is rising along with the integration of wireless chipsets into those devices. A recent report from OBERLO shows that, the number of smart phone users across the world is projected to be 3.5 billion in 2020, which is 9.3% more than 2019 and the total number of smart-phone users is estimated to grow over the years. Similarly, some recent report states that, there will be approximately 820 million smart-phone users in India by 2022. Hence, the growing demand for smartphones will drive the wireless chipset market during the forecast period 2021-2026.
Adoption of Automation Enhances the Demand for Wireless Chipsets across industries:
Increasing penetration of IoT across various sectors such as residential, commercial, industrial, is boosting the demand for automation, resulting in the growing demand for wireless chipsets. Integration of automation offers greater efficiency, higher reliability, enhanced security, production boost, living convenience, better process speed and cost effectiveness, which is accelerating the funding by the above-mentioned sectors, therefore, driving the market of wireless chipsets. According to European Telecommunications Network Operators’ Association (ETNO), in 2019, there were 16 million IoT connections in smart buildings in Europe alone and the number is estimated to reach 154 million by 2025. Apart from that, increasing criminal activities along with the Governments’ incentives to accelerate the installation of real-time surveillance systems for the enhancement of security measures, are working as key influencers for the Wireless Chipsets market. Hence, the adoption of automation will fuel the growth of wireless chipsets market during the forecast period 2021-2026.
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Wireless Chipsets Market Challenges
Privacy Issues Related to Wireless Chipsets is harming the growth of this market
Wireless chipsets are highly being used in consumer electronics including many smart-home devices such as smart speakers, which collects the personal details of the customers. For instance, recently Amazon accepted that, it holds on to the voice interactional data collected from Alexa and Echo devices, even after the customers delete the audio files from their accounts. This type of privacy issue will hinder the Wireless Chipsets industry outlook.
Wireless Chipsets Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Wireless Chipsets. The wireless chipsets top 10 companies include:
Qualcomm, Inc.
Intel Corporation
Broadcom Corporation
Zigbee Alliance
Silicon Laboratories, Inc.
Texas Instruments, Inc.
Atmel Corporation
Altair Semiconductor, Inc.
Entropic Communications, Inc.
Imagination Technologies Group Plc
Acquisitions/Technology Launches/Partnerships
In December 2020, Qualcomm launched QCC305x SoCs, new flexible and affordable chipsets for truly wireless ear-buds (TWEs). This product will bring high-end premium feature to mid-range TWEs and it is also developer-ready for the upcoming Bluetooth LE Audio standard.
In January 2020, leading chipset provider Broadcom, launched world’s first WIFI 6E chipset, specifically designed for enterprise APS and residential gateway APs.
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Key Takeaways
Industrial sector is estimated to witness significant amount of growth, owing to the high penetration of IoT, increasing demand of M2M communication and automation across industries.
APAC is analysed to grow at highest CAGR during the forecast period. Rapid industrialization along with the increasing IoT penetration will drive adoption of Wireless Chipsets in this region.
Growing demand for smart-devices is analysed to significantly drive the market during the forecast period 2021-2026.
Wireless Chipset industry outlook is consolidated with top market players including Qualcomm, Inc., Intel Corporation, Broadcom Corporation, Zigbee Alliance, Silicon Laboratories, Inc. And others.
Relevant Report Titles:
Wireless Communication Chipsets Market
https://www.industryarc.com/Report/15827/wireless-communication-chipsets-market.html
Wi-fi Chipset Market
https://www.industryarc.com/Research/Wi-fi-Chipset-Market-Research-505347
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