The Europe 5G Chipset Market would witness market growth of 19.0% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe 5G Chipset Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $8,496.4 million by 2031. The UK market is expected to witness a CAGR of 18.1% during (2024 - 2031). Additionally, The France market would exhibit a CAGR of 20% during (2024 - 2031).
The transition from 4G to 5G signifies an immense advancement in mobile network technology. While 4G provided substantial improvements over 3G, enabling applications like streaming video and improved web browsing, 5G is set to revolutionize communication with its promise of ultra-high-speed connectivity, minimal latency, and the ability to simultaneously support many devices.
5G chipsets are fundamental to realizing these capabilities, as they manage the high data rates and advanced processing requirements of 5G networks. These chipsets are designed to handle multiple frequency bands, including sub-6 GHz and millimeter wave (mmWave) frequencies, which are critical for delivering the diverse benefits of 5G technology. mmWave frequencies provide extremely high data speeds but have a limited range, making them ideal for dense urban environments. In contrast, sub-6 GHz frequencies offer broader coverage, ensuring the reliability of 5G connections in suburban and rural areas.
Italy's energy and utilities sector is a key driver of demand for 5G chipsets. The Italian Ministry of Economic Development (MISE) has invested in 5G-enabled smart grid technology and renewable energy projects, integrating 5G with IoT to improve grid management, predictive maintenance, and energy efficiency. The National Integrated Energy and Climate Plan (PNIEC) includes strategies for modernizing the electricity grid using 5G IoT solutions to support renewable energy integration and smart metering. These initiatives have positioned Italy as a key market for utilizing 5G IoT in optimizing energy and utility services, driving the demand for 5G chipsets in this sector. Thus, the push for widespread 5G coverage across Europe, combined with strong public and private sector investments, is facilitating the growth of the 5G chipset market.
Free Valuable Insights: The Global 5G Chipset Market will Hit USD 155 Billion by 2031, at a CAGR of 19.5%
Based on Operational Frequency, the market is segmented into Sub 6GHz, Between 26 & 39 Ghz, and Above 39 Ghz. Based on IC Type, the market is segmented into ASIC, RFIC, Cellular IC, and mmWave IC. Based on Product, the market is segmented into Devices, Customer Premises Equipment, and Network Infrastructure Equipment. Based on Industry Vertical, the market is segmented into Consumer Electronics, Automotive & Transportation, Industrial Automation, Energy & Utilities, Healthcare, Retail, and Other Industry Vertical. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Operational Frequency
By IC Type
By Product
By Industry Vertical
By Country
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