The worldwide multimedia chipset market size is estimated to expand at a CAGR close to 6% from 2017 to 2023 (forecast period), according to a report by Market Research Future (MRFR). Its valuation is expected to touch USD 30 Bn. by 2023 owing to increasing demand for internet protocol (IP) television. The evolution of networking technologies, easy access to the Internet, and the availability of smartphones are factors expected to drive market growth.
Drivers and Restraints
The milestones achieved by artificial intelligence have paved the way for technologies such as Internet-of-Things (IoT), robots, augmented reality, virtual reality, and hybrid reality. Miniaturization of electronic components have culminated to system-on-a-chip (SoC) solutions for various devices. SoC solutions are used in portable electronic devices with wide applications in healthcare, consumer electronics, and other industrial sectors. In 2018, DSP Group introduced chips to give voice to a virtual assistant created by Philio-Tech. The voice assistant is powered by ultra low energy (ULE) and powers up lights with the help of a voice command.
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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.
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.
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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- 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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