The global multi-mode chipset market is undergoing a significant transformation, fueled by the rapid proliferation of 5G networks, increasing demand for high-speed data transmission, and technological innovations. Valued at US$ 5.8 billion in 2022, the market is projected to advance at a compound annual growth rate (CAGR) of 13.0% from 2023 to 2031, reaching an estimated US$ 17.2 billion by the end of the forecast period. This remarkable growth reflects the expanding need for versatile and efficient wireless communication technologies across various end-use applications.

The Rise of Multi-mode Chipsets: Market Introduction

Multi-mode chipsets are integrated circuits that support multiple wireless communication standards—such as 2G, 3G, 4G, 5G, Wi-Fi, and Bluetooth—on a single chip. These chipsets enable seamless connectivity and interoperability across diverse wireless networks, improving user experience and device performance. Their ability to support backward compatibility while embracing next-generation communication modes makes them an essential component of today’s and tomorrow’s connected devices.

Multi-mode chipsets are increasingly embedded in smartphones, tablets, IoT devices, wearable technology, and automotive systems. The flexibility they offer reduces the need for multiple chips, cuts down on manufacturing costs, and streamlines product development processes.

Key Growth Drivers

1. Surge in 5G Device Adoption

One of the primary drivers of market expansion is the global rollout of 5G technology. Telecom operators and equipment manufacturers are racing to build next-generation networks capable of delivering ultra-fast data speeds, low latency, and massive device connectivity. This, in turn, is boosting demand for multi-mode chipsets that can support both legacy and new network standards.

Countries such as the U.S., China, Japan, South Korea, and Germany are investing heavily in 5G infrastructure, while smartphone manufacturers are increasingly launching 5G-enabled devices to meet consumer demand. For instance, in 2023, BSNL partnered with Echelon Edge in India to deploy private 5G networks for enterprise customers, showcasing how even regional telecom operators are embracing 5G solutions.

2. Intensive R&D and Innovation

Continuous investment in research and development (R&D) has been pivotal in driving technological advancements in the chipset industry. Manufacturers are developing advanced System-on-Chip (SoC) designs that enhance data transfer speeds, power efficiency, and reliability. In June 2021, Samsung introduced a new line of 5G chipsets featuring innovations such as third-generation mmWave RFICs and integrated Digital Front End chips.

These advancements not only improve network performance but also enable the integration of emerging applications like Augmented Reality (AR), Virtual Reality (VR), autonomous vehicles, and smart cities—all of which rely on high-speed, low-latency connectivity.

Regional Market Insights

North America Leads the Market

North America held the largest market share in 2022, driven by the presence of major chipset developers such as Qualcomm, Intel, and Broadcom, as well as robust 5G infrastructure development. The U.S. National Telecommunications and Information Administration’s 5G rollout strategy underscores the government’s commitment to technological leadership.

Canada and Mexico are also making strides in 5G adoption. Canada’s investment in domestic 5G production and Mexico’s focus on multi-mode chipset deployments for industrial applications are creating new growth avenues.

Asia Pacific Poised for High Growth

Asia Pacific is expected to be the fastest-growing region during the forecast period, thanks to increasing smartphone penetration, rising disposable incomes, and rapid urbanization. Countries like China, India, South Korea, and Japan are investing heavily in 5G deployment and next-generation communication technologies. The presence of regional giants such as Samsung, HiSilicon, and MediaTek further strengthens the region’s influence in the global chipset landscape.

Competitive Landscape and Key Players

The global multi-mode chipset market is highly competitive, with numerous established players and innovative startups vying for market share. Leading companies include:

• Qualcomm Technologies Inc.
• Intel Corporation
• Samsung Group
• HiSilicon Technologies
• MediaTek
• Spreadtrum Communications
• Broadcom Corporation
• Marvell Technology Group
• Altair Semiconductor, Inc.
• GCT Semiconductor Inc.

These companies are focusing on the development of reliable and secure chipsets that not only support fast connectivity but also ensure network security and data privacy. For instance, in October 2023, Qualcomm unveiled two new chips targeting generative AI applications for PCs and smartphones, highlighting the shift toward AI-enabled chipsets.

Key Recent Developments:

• February 2024: VeriSilicon and Innobase launched a dual-mode 5G RedCap/4G LTE modem solution.
• October 2023: Qualcomm announced AI-centric chipsets at its Snapdragon Summit.
• June 2021: Samsung launched advanced chipsets with 5G modem SoCs and mmWave capabilities.

Market Segmentation Overview

By Application:

• Smartphones (largest share)
• Tablets
• Wearable Devices
• Others (including IoT and connected cars)

By Region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Countries such as the U.S., China, India, Japan, Germany, and the U.K. are at the forefront of multi-mode chipset adoption, largely due to their advanced telecom infrastructures and technology ecosystems.

Future Outlook

The future of the multi-mode chipset market is deeply tied to the evolution of wireless technologies. With 6G already in exploratory phases, chipmakers are likely to pivot toward ultra-low latency and ultra-high-speed connectivity solutions. Moreover, the convergence of AI, edge computing, and IoT will further push the demand for flexible, energy-efficient, and high-performance chipsets.

As multi-mode chipsets become integral to a growing number of applications, from smartphones and smart homes to connected vehicles and Industry 4.0 systems, the market is set to experience sustained double-digit growth over the next decade.

Conclusion

The global multi-mode chipset market is at a pivotal juncture, driven by the convergence of 5G rollout, technological innovation, and surging device connectivity needs. With strong investments from both public and private sectors, this industry is expected to play a critical role in shaping the future of wireless communication. As key players continue to push the boundaries of what's possible, the next-generation of connected experiences is already underway.