Market Size of Multimedia Chipsets Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.94 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Multimedia Chipset Market Analysis
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.
