The Latin America, Middle East and Africa 5G Chipset Market would witness market growth of 22.5% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA 5G Chipset Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,138.6 million by 2031. The Argentina market is capturing a CAGR of 23.3% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 21.4% during (2024 - 2031).
The automotive industry is another area where the 5G chipset market is experiencing growth. The concept of connected vehicles and autonomous driving relies heavily on low-latency, high-speed communication, made possible by 5G technology. Vehicle-to-everything (V2X) communication, which includes vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), and vehicle-to-network (V2N), requires fast and reliable data transmission to ensure safe and efficient operation. 5G chipsets are essential for enabling these communications, providing the bandwidth and latency levels to support advanced driver assistance systems (ADAS), infotainment, and real-time traffic management.
The market's expansion is not without its obstacles, however. One of the primary obstacles is the high cost associated with developing and manufacturing 5G chipsets. The complexity of 5G technology, which requires support for multiple frequency bands, advanced signal processing capabilities, and high-power efficiency, makes the design and production of 5G chipsets significantly more expensive than their 4G predecessors. This high cost is often passed on to consumers, making 5G-enabled devices more expensive and limiting their adoption, particularly in developing markets with high-cost sensitivity.
In South Africa, the adoption of 5G technology for industrial automation is gaining momentum, largely due to government-backed programs like the Industrial Policy Action Plan (IPAP), which aims to modernize the country's manufacturing sector. Integrating 5G connectivity into industrial processes enables the deployment of smart factories, where machines and equipment can communicate seamlessly, facilitating real-time decision-making and improving operational efficiency. Therefore, as industries increasingly embrace digital transformation, the demand for 5G chipsets that support these automation technologies is on the rise, contributing significantly to the overall market growth in the region.
Free Valuable Insights: The Worldwide 5G Chipset Market is Projected to reach 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Operational Frequency
By IC Type
By Product
By Industry Vertical
By Country
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