The 5G chipset market for 5G chipset was valued $490 million in 2018 and is expected to reach nearly $10.9 billion in 2024, growing at a CAGR of 65.7% during the forecast period.

The major factors driving 5G chipset growth are an increasing demand for the Internet of Things and Machine to Machine connections coupled with an ever-increasing demand for high-speed mobile data services and rapid development in automated devices.