According to a new report published by Allied Market Research, titled, “5G Modems Market By Modem Type (Internal/Integrated, External), By Mode (Single-Mode, Multimode), By Application (Mobile And Tablets, Wearable, Automotive, Virtual Reality, Others): Global Opportunity Analysis And Industry Forecast, 2022-2031“, the 5G modems market was valued at $845.29 million in 2021, and is estimated to reach $10.8 billion by 2031, growing at a CAGR of 29.1% from 2022 to 2031.
Key players profiled in the 5G modems market report include Samsung Electronics Co Ltd, Intel Corporation, Huawei Technologies Co., Ltd., Spreadtrum Communications, MediaTek Inc, Infineon Technologies AG, Nokia Corporation, Qorvo, Inc., Xilinx and Qualcomm Technologies. Market players have adopted various strategies, such as product launch, collaboration& partnership, joint venture, and acquisition to expand their foothold in the 5G modems market.
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According to the 5G modems market analysis, growth of mobile broadband connectivity and rapid adoption of IoT devices including 5g modem router, 5g wifi modem and others are some factors contributing to the 5G modems market growth. Moreover, increase in investments by telecom service providers into wireless infrastructure & services for meeting surge in demand for bandwidth drives the growth of the industry. Leading players in the 5G modem market include Qualcomm, Huawei, MediaTek, Samsung, and Intel. They are investing in the development of 5G modems such as qualcomm x65, as well as in partnerships and collaborations with carriers, device manufacturers, and network equipment providers to drive the growth of the 5G modems market size.
The global 5G modems market is expected to grow at a significant pace during the forecast period, driven by the increasing demand for high-speed mobile internet connectivity, the growing number of 5G networks, and the increasing number of 5G-enabled devices.
In February 2023, Qualcomm launched the Snapdragon X75 which is the company’s newest flagship 5G modem, which is also said to be the world’s first 5G advanced-ready modem RF system. Based on the new architecture and software suite, the new 5G modem is said to offer improved network coverage, lower latency, mobility, and power efficiency. Products ranging from smartphones to industrial IoT devices, the Snapdragon X75 is said to power a wide range of devices. This is a successor to the Snapdragon X70 5G modem featured on the flagship Snapdragon 8 Gen 2 SoC.
In July 2020, IP Infusion, a leading provider of network disaggregation solutions for telecom and data communications operators, announced that Asia Pacific Telecom (APT), a leader in innovative telecom services in Taiwan and provider of intelligent living services, has selected IP Infusion to deliver a comprehensive disaggregated solution for the deployment of their 5G mobile network. APT has more than 2 million subscribers and is rolling out a network of more than 5,000 Cell Site Routers (CSR) to deliver the next generation of services and increased connectivity for subscribers and Internet of Things (IoT) in Taiwan.
In November 2021, Samsung officially launched the Exynos Auto T5123 is the first 5G modem designed specifically for automotive use and it is already being mass produced. Car parts have stringent requirements for durability and longevity, so automakers cannot just use chips meant for smartphones. This is more than just a modem. It has a pair of Cortex-A55 cores CPU cores and can provide satellite positioning data for navigation. By serving double duty this chip reduces the total chip count for the vehicle, which simplifies the design.
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Key Findings of the Study:
The 5G modems market trends indicate that in 2021, the internal/integrated segment was the major revenue contributor to the 5G modems industry, and is projected to grow at a notable CAGR of 28.51% during the forecast period. Rapid technological development in the consumer electronics sector and widespread adoption of 5G networks has fueled the demand for internal/integrated 5G modems across the globe.
The mobile and tablets segment is projected to growth at a CAGR of 30.01% during the forecast period. 5G modems play a crucial role in enabling mobile devices to take advantage of 5G networks and offer users faster, more reliable, and more advanced mobile internet connectivity.
Asia-Pacific contributed for the major 5G modems market share, accounting for more than 34.88% share in 2021. The growing adoption of 5G modems across automotive and consumer electronics is projected to boost growth of the 5G modems market in Asia-Pacific.