Multimedia Chipsets Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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The multimedia chipsets market has been valued at USD 32.07 billion in 2020, to reach USD 44.86 billion by 2026, and registering a CAGR of 6.94% during the forecast period (2021 - 2026).

Owing to the increasing demand for handheld mobile devices and smartphones, there has been a rise in the number of users demanding consumer electronic products for the purpose of watching movies and videos online. This has resulted in increased broadband and mobile data traffic. This rise in mobile data traffic is driving the demand for high-speed internet.

- As improved internet facilities across the world have made it easier for consumers to stream videos online, considerably increasing their numbers over the past few years, graphics chipsets have consistently been holding the larger revenue share in the multimedia chipsets market.
- Furthermore, increasing the adoption of wearable devices, owing to health concerns in the millennial generation, is also anticipated to augment the growth of the market.
- Increasing disposable income, coupled with high adoption of technological advancements in the developing economies, ...
... is expected to aid the market growth.
- For instance, in December 2018, Qualcomm Technologies announced its next-generation, modem purpose-built for Internet of Things (IoT) applications, such as asset trackers, health monitors, security systems, smart city sensors, and smart meters, as well as a range of wearable trackers. This modem is cost-effective and consumes 70% less battery compared to its predecessor
- However, higher static costs related to the formation of the manufacturing unit is limiting the development of the multimedia chipsets market.

Key Market Trends

Media and Entertainment to Witness Significant Growth over the Forecast Period

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- There has been an increasing demand for high-speed internet, which has made telecom companies expand their production rates. Surging demand for fast internet is expanding globally, throughout the past couple of years. The essential factor in charge of this growth is the rising popularity for on-demand audio and video streaming.
- Moreover, in today's fast-moving tech-savvy world, consumers are switching media consumption from ‘analog' to ‘digital.' The greatest change is that the people who used to consume news, entertainment, and other information via printed periodicals, television sets, and radio sets are now consuming the same via personal computers, tablet computers, and smartphones. Advancements in mobile, video and wireless technologies have ignited an explosion in the growth of on-demand streaming services.
- As in the media and entertainment industry, applications, such as video rendering and high-resolution image editing processes, require high network performance, thereby increasing the demand for multimedia chipsets. Therefore, advancement to 5G capacities is taking place, in order to fulfill the flooding demand for rapid information.

Asia-Pacific to Remain a Lucrative Market for Multimedia Chipsets

- Asia-Pacific witnesses a higher demand for handheld devices, set-top boxes, and IPTVs, which form the two most lucrative application sectors for multimedia chipset companies. Multimedia chipsets also require high investments for SoC manufacturing in the region, which complements the fact that APAC is a global hub for semiconductor companies.
- Furthermore, increasing the adoption of 5G services across countries, such as China and India, is expected to aid the market.
- According to GSMA, at a global level, 1.2 billion people are set to have access to 5G networks by 2025, and a third of them are likely to be in China. Throughout the region, the governments, in collaboration with chip manufacturers and smartphone vendors, are putting their best for 5G technologies.
- China, India, South Korea, Japan, and Australia are expected to be the major markets for the multimedia chipset.

Competitive Landscape

The multimedia chipsets market is fragmented. The competitive rivalry is high among the players. Some of the major players for this industry are VIDIA Corporation, Intel Corporation, Qualcomm Inc., Cirrus Logic Inc., Advanced Micro Devices Inc., DSP Group Inc., Apple Inc., etc. The players in this industry are continuously working on different strategies, like partnership, mergers, and acquisitions, etc., to gain competitive advantages. These companies are also investing a lot in R&D, in order to come up with new and innovative products.

- August 2018 - Qualcomm had announced its upcoming flagship mobile platform, featured with a system-on-chip (SoC), built on the 7nm process node. The 7nm SoC can be paired with the Qualcomm Snapdragon X50 5G modem, which is anticipated to be the first 5G-capable mobile platform for smartphones and other mobile devices.

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