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 |
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.
Multimedia Chipset Industry Segmentation
By Type | |
Graphics | |
Audio | |
Other Types |
By End-user Industry | |
Consumer Electronics | |
IT and Telecommunication | |
Media and Entertainment | |
Government | |
Other End-user Industries |
Geography | |
North America | |
Europe | |
Asia-Pacific | |
Rest of the World |
Multimedia Chipsets Market Size Summary
The multimedia chipsets market is experiencing significant growth, driven by the increasing demand for handheld mobile devices and smartphones. This surge is largely due to the rising consumption of online media, which has led to increased broadband and mobile data traffic, thereby necessitating high-speed internet solutions. The market is characterized by a substantial revenue share held by graphics chipsets, attributed to the growing popularity of video streaming services. Additionally, the adoption of wearable devices, particularly among health-conscious millennials, is expected to further propel market expansion. The market is also benefiting from rising disposable incomes and the rapid adoption of technological advancements in developing economies. However, the high static costs associated with establishing manufacturing units pose a challenge to market development.
In the Asia-Pacific region, there is a robust demand for handheld devices, set-top boxes, and IPTVs, which are key application sectors for multimedia chipset companies. The region's status as a global hub for semiconductor companies, coupled with significant investments in SoC manufacturing, supports market growth. The adoption of 5G services in countries like China and India is anticipated to bolster the market further. The multimedia chipsets market is highly fragmented, with intense competitive rivalry among major players such as NVIDIA Corporation, Intel Corporation, and Qualcomm Inc. These companies are actively engaging in partnerships, mergers, and acquisitions, while also investing heavily in research and development to innovate and maintain competitive advantages.
Multimedia Chipsets Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Introduction to Market Drivers and Restraints
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1.3 Market Drivers
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1.3.1 Rising Feature-rich Multimedia Devices
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1.4 Market Restraints
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1.4.1 Increased Standardisation of Products
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1.5 Value Chain/Supply Chain Analysis
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1.6 Industry Attractiveness - Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers/Consumers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitute Products
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1.6.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Graphics
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2.1.2 Audio
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2.1.3 Other Types
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2.2 By End-user Industry
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2.2.1 Consumer Electronics
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2.2.2 IT and Telecommunication
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2.2.3 Media and Entertainment
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2.2.4 Government
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2.2.5 Other End-user Industries
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 Rest of the World
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Multimedia Chipsets Market Size FAQs
What is the current Multimedia Chipsets Market size?
The Multimedia Chipsets Market is projected to register a CAGR of 6.94% during the forecast period (2024-2029)
Who are the key players in Multimedia Chipsets Market?
Intel Corporation, Qualcomm Incorporation, Apple Inc., Samsung Group and Marvell Technology Group are the major companies operating in the Multimedia Chipsets Market.