Multimedia Chipsets Market
The multimedia chipsets market is intensely competitive, characterized by the high levels of competition among top players to constantly diversify their offerings in the two primary segments-graphics chipsets and audio chipsets, notes Transparency Market Research (TMR). The markets for both the segments features a fairly consolidated landscape with a vast scope of product differentiation. In the graphics chipsets market, the top three players-Advanced Micro Devices, Inc., NVIDIA, and Intel—held a combinedly whopping share of 98.2% in 2014. The top three makers of audio chipsets jointly held a substantial share of 69.4% in the same year, finds TMR. These leading players are Realtek Semiconductor Corporation, Qualcomm, and Cirrus Logic, Inc. These players are in constant pursuit of diversifying their products and are focused on developing innovative products for a variety of multimedia applications, in order to consolidate their shares in various regions.
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Fueled by low investment required for entering the market, the threat of entry from new players is expected to intensify in the coming years, observes TMR. A number of players are collaborating with various chip makers and forming partnership agreements to bring down the high cost of setting of manufacturing units in the initial years. Competitive pricing and the development of high-performance multimedia chipsets are the key strategies adopted by several players to gain a competitive edge over others.
Witnessing ample growth opportunities in the gaming industry and accelerating adoption of multimedia chipsets in wearable devices, the global multimedia chipsets market is projected to rise at a CAGR of 6.6% from 2015 to 2024, in terms of revenue. Growing at this pace, the market is predicted to reach a valuation of US$40.99 bn by the end of the forecast period.
Rising Wave of Next-Generation Smartphones and Wearable Devices Boost Market
The rapidly rising demand for cost-effective, highly functional hardware in a variety of mobile devices, including smartphones and wearable, is a key factor driving the market. The growing demand for feature-rich multimedia handsets in the areas of gaming and consumer electronics is vastly propelling the demand for advanced multimedia chipsets. These chipsets enable marked form factor reductions and high-quality video streaming in various wireless devices. In addition, their architecture enables multitasking on these multimedia devices, thereby bolstering their demand. The coming wave of sophisticated wearable devices and smartphones is a key trend expected to boost the multimedia chipsets market. The rapidly increasing internet penetration in several emerging economies has further accentuated the demand for these electronic devices.
Furthermore, the accelerating demand for chip architecture to support advanced graphics application in the gaming industry is expected to catalyze the growth of the multimedia chipsets market.
The global multimedia chipsets market is segmented based on:
Function
- Audio chipsets
- Graphics chipsets
Application
- Digital Cable TV
- Set Top Box and IPTV
- Home Media Players
- Handheld Devices
- Others
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