5G modems market projected to reach $10.8 billion by 2031

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5G modems market projected to reach $10.8 billion by 2031

The 5G modems market, which enables devices such as smartphones, tablets, and computers to connect to 5G networks, is projected to grow significantly in the coming years. According to a report by Allied Market Research titled "5G Modems Market By Modem Type, Mode, Application: Global Opportunity Analysis And Industry Forecast, 2022-2031", the 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.

The report suggests that the growth of the 5G modems market is driven by the increase in mobile broadband connectivity and rapid adoption of IoT devices. Additionally, investments by telecom service providers into wireless infrastructure & services to meet the surge in demand for bandwidth also contribute to the industry's growth.

Key players in the market include Samsung Electronics Co Ltd (KS: 005930 ), Intel Corporation (NASDAQ: INTC ), Huawei Technologies Co., Ltd., Spreadtrum Communications, MediaTek Inc, Infineon (OTC: IFNNY ) Technologies AG, Nokia (NYSE: NOK ) Corporation, Qorvo (NASDAQ: QRVO ), Inc., Xilinx (NASDAQ: XLNX ) and Qualcomm (NASDAQ: QCOM ) Technologies. These companies are investing in the development of 5G modems and forming partnerships and collaborations with carriers, device manufacturers, and network equipment providers.

In February 2023, Qualcomm launched its newest flagship 5G modem, the Snapdragon X75. This advanced-ready modem RF system is designed to offer improved network coverage, lower latency, mobility, and power efficiency.

Samsung officially launched the Exynos Auto T5123 in November 2021 which is a first-of-its-kind 5G modem designed specifically for automotive use. The chip provides satellite positioning data for navigation and reduces the total chip count for vehicles.

In July 2020, Asia Pacific Telecom (APT) selected IP Infusion to deliver a comprehensive disaggregated solution for their 5G mobile network deployment in Taiwan.

The internal/integrated segment was identified as the major revenue contributor to the 5G modems industry in 2021 and is projected to grow at a CAGR of 28.51% during the forecast period. The mobile and tablets segment is expected to grow at a CAGR of 30.01% during this period.

Asia-Pacific accounted for more than 34.88% share of the global 5G modems market in 2021 due to growing adoption across automotive and consumer electronics sectors.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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