Main function of chipsets is to regulate the flow of data among memory, processor, and peripheral devices. Multimedia chipset hold a significant position in modern electronic devices. Thus, multimedia chipset market is projected to grow exponentially in coming years. The growth rate is attributed to growing demand of hi-tech electronic devices and increasing number of smartphone users.
Widening internet network across the globe is playing vital role in expansion of the target market. Implementation of 5G has enabled people to watch online videos and movies. This, in turn, has increased traffic of mobile data and broadband. Further, rise in traffic is pushing demand for high-speed internet worldwide. Hence, graphic chipset is likely to contribute significantly to multimedia chipset market, in terms of revenue.
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In recent years, adoption rate of wearable electronic devices has been rising exponentially. The adoption rate is attributed to rising awareness regarding health among millennial. This, in turn, is likely to augment growth of the multimedia chipset market in foreseeable future.
Meanwhile, high static cost related to formation of manufacturing unit may interfere with the market growth in coming years.
However, potential of multimedia chipset market in gaming sector expected to balance the market in the future.
Regular and Intensive Phases of R&D Characterize Multimedia Chipsets Market
Leading companies in the multimedia chipsets market are currently witnessing a high demand for smartphones and other handheld and portable devices across the world. Users are not only demanding better quality of hardware components, but also demand them to be as cost-effective as possible. This drives the multimedia chipsets players into regular and intensive phases of research and development. As a result of the high rate of technological innovation, both players and consumers retain an improving quality of the devices as well as market revenue increments.
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Multimedia chipsets companies are also benefitting from the rapid expansion of internet protocol television (IPTV) and set top boxes. These devices are in an exceptionally high demand due to the rapid migration of consumer from the conventional TV to online viewing and use of the smart TV.
The above factors, combined with the high growth potential of multimedia chipsets in the gaming industry and the wearable devices industry, allows the multimedia chipsets revenue to progress at a CAGR of 6.6% between 2015 and 2024. This market is expected to be valued at US$40.99 bn by the end of 2024.
Asia Pacific Continues to be Lucrative Region for Multimedia Chipsets Makers
Asia Pacific has been leading the demand for multimedia chipsets in the recent past and will continue dominating the market shares in both revenue and volume for the coming years. This regions shows an especially high demand for handheld devices and set top boxes and IPTVs, which form the two most lucrative application segments for multimedia chipsets players. This region is expected to hold 46.76% of the multimedia chipsets revenue generated by 2024.
Asia Pacific multimedia chipsets also take in high investments for SoC manufacturing, which complements the fact that this region is a global hub for semiconductor companies. China holds the largest number of smartphone users in the world, making it a key market for multimedia chipsets players. At the same time, Singapore offers a very high level of market penetration for smartphones and consumer electronics, allowing most entrants a good shot at gaining revenues.
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Graphics Chipsets in High Demand as Users Desire Devices for Streaming, Multitasking
Graphics chipsets have consistently held the larger revenue share in multimedia chipsets in recent years. Current market trends indicate that this segment will continue to hold the dominant share for the coming years as well. A key reason for this high demand is the growth in the number of users demanding consumer electronics for the purpose of watching videos and movies online. Improved internet facilities across the world are making it easier for consumer to stream videos online, considerably increasing their numbers over the past few years.
Consumers have also expressed high demand for electronics devices capable of multitasking. Most multitasking components of a consumer’s usage involve switching between different graphics on a device, which requires strong and stable graphics chipsets. The level of innovation is high among the three leading providers of graphics hardware – Intel, NVidia, and AMD. Each company holds a large number of users based on their difference in utility, preferences, and the company’s marketing strategies.
The key manufacturers of multimedia chipsets globally include AMD, Inc., Intel, NVidia, Realtek, Yamaha, Qualcomm, and Cirrus Logic, Inc.
Multimedia Chipsets Market to Gain Traction Owing to Increasing Adoption of Wearable Electronics
The rapidly widening internet relations worldwide are a prime factor propelling growth of the global multimedia chipsets market. Chipsets are used for regulating data and information flow between the peripheral devices, processor, and the memory of the device used. Sight and sound chipset stand firm on a huge footing in current electronic gadgets. Accordingly, sight and sound chipset market is projected to fill dramatically in coming years. The development rate is ascribed to developing interest of hello tech electronic gadgets and expanding number of cell phone clients.
Usage of 5G has empowered individuals to watch online recordings and films. This, thus, has expanded traffic of portable information and broadband. Further, ascent in rush hour gridlock is pushing interest for rapid web around the world. Subsequently, realistic chipset is probably going to contribute altogether to the multimedia chipset market, regarding income.
The accelerating rate of adoption for wearable electronic gadgets has been rising dramatically. The appropriation rate is ascribed to increasing mindfulness in regards to wellbeing among millennial. This, thusly, is probably going to expand development of the multimedia chipset market in not so distant future. Moreover, high static expense identified with development of assembling unit may meddle with the market development in coming years. Additionally, capability of multimedia chipset market in gaming area expected to adjust the revenue generation rate of the market in the coming years.
Driving organizations in the multimedia chipsets market are at present seeing a popularity for cell phones and other handheld and convenient gadgets across the world. Clients are requesting better nature of equipment segments, yet in addition request them to be just about as practical as could really be expected. This drives the multimedia chipsets players into ordinary and escalated periods of innovative work. Because of the high pace of mechanical development, the two players and shoppers hold an improving nature of the gadgets just as market income increases.
Multimedia chipsets organizations are additionally profiting by the quick extension of web convention TV (IPTV) and set top boxes. These gadgets are in an extraordinarily appeal because of the quick movement of buyer from the customary TV to internet survey and utilization of the smart TV.
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