The Future of Connectivity - Evaluating the Global 5G Chipsets Market

Bharat Book Bureau16 May, 2023Business

5G is expected to be crucial in transforming the automotive industry. It will develop new applications that are difficult to advance with the current generation of cellular technologies. 5G can allow system and application developers to offer a wide range of operations. Modern automobiles utilize vehicle-to-vehicle (V2V), vehicle-to-infrastructure (V2I), vehicle-to-pedestrian (V2P), and vehicle-to-network (V2N) technologies. It would further help develop other applications, such as automated driving, digital logistics, and intelligent navigation. 5G network provides fast connectivity at low latency. Moreover, the 5G network data transfer rate is higher than that of the previous generation. Hence, 5G will play an integral role in autonomous driving. The 5G Chipsets market is projected to reach US$ 81.0 billion by 2028, growing at a CAGR of 17.4% from 2023 to 2028.