Global Multi-mode Chipset Market to Reach US$ 17.2 Bn by 2031, Growing at 13% CAGR

 

The global multi-mode chipset market has entered a phase of robust expansion, fueled by the accelerating adoption of 5G technology, continuous innovation in wireless communication, and rising demand for versatile, power-efficient devices. Valued at US$ 5.8 billion in 2022, the industry is projected to grow at a CAGR of 13.0% from 2023 to 2031, reaching an estimated US$ 17.2 billion by the end of 2031.

This impressive trajectory reflects the critical role multi-mode chipsets play in ensuring seamless connectivity across multiple communication standards, making them indispensable in smartphones, wearables, tablets, automotive systems, and industrial devices.

 

Market Introduction

A multi-mode chipset is an integrated circuit that combines several wireless communication modes into a single chip. These chipsets allow devices to connect seamlessly across technologies such as Wi-Fi, Bluetooth, 3G, 4G, and 5G, making them adaptable, compact, and highly efficient.

Unlike traditional chipsets that may require multiple standalone components, multi-mode chipsets simplify design, improve power efficiency, and enhance device interoperability. With the growing need for fast and reliable connectivity, particularly in the era of 5G, these chipsets have become central to the evolution of modern electronics.

 

Analysts highlight that the growing deployment of 5G networks worldwide is one of the strongest drivers of the market. Consumers and enterprises alike are demanding devices that not only support 5G networks but also remain compatible with legacy 4G and 3G infrastructure. This interoperability is crucial for regions where 5G rollout is gradual and uneven.

Furthermore, R&D investments by global chipset leaders are shaping the market landscape. Innovations are focused on reducing power consumption, boosting data transfer speeds, and improving the ability of chipsets to handle multiple wireless communication standards simultaneously. The emphasis on robust security and reliable connectivity also underscores their importance in enterprise solutions, automation, and IoT ecosystems.

 

Market Drivers

1. Increase in Adoption of 5G Devices

The popularity of 5G-enabled smartphones, tablets, and IoT devices is reshaping demand. Telecom operators are investing heavily in rolling out high-speed networks, which in turn is pushing chipset manufacturers to provide multi-mode solutions that bridge 5G with legacy technologies.

For example, many chipset vendors are commercializing Gigabit LTE alongside 5G capabilities, ensuring uninterrupted connectivity. Partnerships such as BSNL and Echelon Edge’s initiative in 2023 to deploy private 5G networks for enterprise customers highlight how demand is expanding beyond consumer devices into industrial and enterprise domains.

2. R&D of New Products

Multi-mode chipsets are evolving rapidly to serve next-generation applications such as self-driving vehicles, smart homes, cloud computing, and AR/VR systems. Manufacturers like Samsung, Qualcomm, and Intel are investing in smaller, more powerful chipsets with advanced features like massive MIMO, RFIC integration, and SoC designs to enable faster, more efficient communication.

Samsung’s 2021 introduction of a new 5G chipset line with integrated modem SoC and advanced mmWave RFICs is a notable example of how R&D is expanding the possibilities of multi-mode communication.

 

Regional Insights

North America

North America dominated the market in 2022, supported by rapid urbanization, a well-developed industrial base, and the presence of key global chipset makers. The U.S. in particular has been at the forefront of 5G deployment, with the National Telecommunications and Information Administration’s 2020 national strategy accelerating rollout efforts.

Canada and Mexico are also becoming important contributors, with rising domestic production of 5G-capable devices and implementation of strategic policies to support 5G adoption across industries.

Asia Pacific

Asia Pacific is emerging as one of the fastest-growing regions, led by countries such as China, Japan, South Korea, and India. These nations benefit from strong semiconductor manufacturing capabilities, expanding telecom infrastructure, and significant government initiatives to promote 5G.

China, in particular, with its role as a global electronics hub, is driving massive adoption of multi-mode chipsets across consumer electronics, automotive, and industrial automation.

 

Competitive Landscape

The global multi-mode chipset market is highly competitive, with key players focusing on innovation, partnerships, and regional expansion. Major companies include:

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

These players are prioritizing reliable, secure, and efficient chipsets to support automation, IoT, and enterprise applications. Investments in 5G-specific solutions are expected to strengthen their market positions, especially as industries adopt AI-driven applications, AR/VR, and connected vehicles.

 

Key Developments

• February 2024: VeriSilicon and Innobase launched a 5G RedCap/4G LTE dual-mode modem solution, expanding low-power, cost-effective connectivity options.
• October 2023: Qualcomm unveiled two new AI-focused chips designed for PCs, laptops, and flagship Android phones, integrating advanced multi-mode communication capabilities.
• June 2021: Samsung introduced new 5G chipsets featuring RFIC and SoC integration, strengthening its presence in advanced connectivity markets.

 

Market Outlook

Looking ahead, the global multi-mode chipset market is set for sustained double-digit growth. The convergence of 5G, IoT, and edge computing will create substantial opportunities for chipset vendors to innovate and diversify.

By 2031, multi-mode chipsets will not only power smartphones and consumer electronics but also play a pivotal role in industrial IoT, connected vehicles, healthcare technologies, and smart city infrastructure. With a projected market value of US$ 17.2 billion, this sector is poised to remain a cornerstone of the digital economy.