Market Research Future published a research report on “Multimedia Chipset Market Research Report- Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
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Market Insights:
According to Market Research Future (MRFR)’s latest report, the global multimedia chipset market is projected to expand at a CAGR of 6% during the forecast period 2017 to 2023. The report further underscores that the market valuation is anticipated to reach a mark of USD 30 Bn towards the end of the assessment period. The growth of the market can be ascribed to the exponentially rising demand for multimedia devices such as televisions, computers, laptops, etc.
The growth of the gaming industry with the introduction of games such as PUBG which has gained quick mileage globally is likely to influence the expansion of the Multimedia Chipset Market positively over the next couple of years. The rapid developments witnessed in IPTV is further expected to boost the growth trajectory of market in the forthcoming years.
The rising penetration of smartphones coupled with improved internet facilities is anticipated to favor the proliferation of the multimedia chipset market across the projection period. In addition, the growth of wearable devices and the consumer electronics industry are anticipated to fuel the expansion of the multimedia chipset market in the forthcoming years. The initiatives undertaken by the governments for the promotion of digitization is also anticipated to favor the growth of the multimedia chipset market in the years to come.
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Segmentation Analysis
The multimedia chipset market is segmented on the basis of type, application, end-user, and region. By type, the market is segmented into graphic chipsets, audio chipsets, and others.
Major applications include handheld devices, home media players, set-top box & IP TV, digital cable, and others. The handheld devices application can experience an immense growth rate over the forecast period. In 2018, MediaTek, a Taiwanese semiconductor company launched the latest iteration of its Helio P22 series. The chipset has found takers in commercial phone makers such as Oppo and Vivo. It can suit the demands of mid-range smartphones. The set-top box & IP TV segment is also expected to perform spectacularly during the forecast period.
End-users in the market include media and entertainment, IT & telecommunications, government, consumer electronics, and others. The consumer electronics segment is touted to generate significant revenue for the market owing to the increased expendable incomes of consumers. The deluge of latest products available for consumers with a penchant for gaming and comfortable lifestyle can propel the segment demand in the coming years.
Key Players
Some of the prominent players in the global multimedia chipset market are NVIDIA Corporation (U.S.), Intel Corporation (U.S.), Realtek Semiconductor Corp (Taiwan), Qualcomm Inc. (U.S.), Cirrus Logic Inc. (U.S.), Advanced Micro Devices Inc. (U.S.), DSP Group, Inc. (U.S.), Apple Inc. (U.S.), Broadcom Corporation (U.S.), Marvell Technology Group, Limited (U.S.), Samsung Group (South Korea), Actions Semiconductor Co., Ltd. (China), MediaTek Inc. (Taiwan), NXP Semiconductors N.V. (Netherlands), STMicroelectronics (Switzerland), among others.
Regional Analysis
Regions covered in the test and measurement market report include Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW).
The North America market is expected to enjoy a tremendous growth rate during the forecast period owing to increasing demand for graphic chipsets. Graphic chipsets are essential in supporting realistic visuals on smart devices and gaming devices. The launch of wearables and smartphones and miniaturized hardware components can bolster market demand in the coming years. The inclination towards deep learning and machine learning can push the demand for superior performing chipsets.
The Europe market can induce significant demand owing to demand for audio chipsets. The launch of connected cars and demand for interactive dashboard displays can bolster market demand in the coming years. Companies are relying on artificial intelligence to enhance the power of chatbots or voice assistants. Designs on smart speakers, smart devices, and other devices to power the connected ecosystem can bode well for the market.
Similarly, the APAC market can experience significant growth owing to expendable incomes of consumers in countries such as India, China, and Japan. Companies in China have programmed headsets to be compatible with the needs of users. For instance, the headset by Spreadtrum Communications, Inc., has integrated a multimedia chip capable of accepting Global System for Mobile Communications (GSM) baseband solutions.
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Intended Audience:
• Multimedia chipset companies
• Multimedia chipset providers
• Technical universities
• System integrators
• Managed Security Service Providers
• Professional service providers
• Research and development companies
• Market research and consulting firms
• Solution providers
• Technology standards organizations
• Technology investors
• System Integrators
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact Info:
Name: Abhishek Sawant
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Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Source: MarketersMedia
Release ID: 88914504
