Multimedia Chipset Market Estimated to Grow at a CAGR of 5.9% During 2021-2026

November 02 21:56 2021
Multimedia Chipset Market Estimated to Grow at a CAGR of 5.9% During 2021-2026
Multimedia Chipset Market
Media and Entertainment Industry Are Analyzed to Grow With Highest Growth Rate; the Rising Dependency on Digital Platform for Entertainment Purpose Is the Key Factor Behind the Growth of Multimedia Chipset Market

Multimedia Chipset market size was valued at $180.48 million in 2020 and it is estimated to grow at a CAGR of 5.9% during 2021-2026. The adoption of Multimedia Chipset across industries is rising and the growth is specifically attributed to the increasing demand for technologically advanced consumer electronics including smart-phones, TVs including digital signal processing chips supported IPTV, wearable devices, laptops, domestic appliances and many other embedded computing systems, and high penetration of internet. Furthermore, the growing adoption of OTT platforms, audiovisual systems and rising popularity of games for entertainment purpose play a major role behind the growth of the multimedia chipset market. Nevertheless, increasing number of investments for technological advancement in semiconductor & electronics industry combined with high living standards and development in emerging economies are the key influencing factor behind the growth of multimedia chipset industry. Hence, the above-mentioned factors are set to drive the growth of Multimedia Chipset market during the forecast period.

Multimedia Chipset Market Segment Analysis- By Application

Based on application, the Multimedia Chipset market is segmented into Digital Cable TV, Set Top Box & IPTV, Home Media Players, Handheld Devices and Others. Among all the applications of multimedia chipset, Set Top Box and IPTV segment has highest share 20.58% in 2020, owing to the increasing demand for better video quality content and advancement of technologies. Digital signal processing (DSP) chips supported Set Top Box & IPTV is a personalized, on-demand multimedia service provider that offers delivery of video and non-video contents, OTT services to various devices at the same time, and others, which has attracted the customers towards IPTV. In August 2020, BSNL launched it IPTV services with 100+ channels at Rs-130 in few cities of Kerala. Moreover, increasing popularity of OTT services, government initiatives to accelerate the penetration of this technology and its advantages over traditional television are fueling market growth. All the above-mentioned benefits in one platform will provide significant opportunities for the deployment of DSP based Set Top Box &IPTV in various sectors during the forecast period 2021-2026.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=509502

Report Price: $ 5900 (Single User License)

Multimedia Chipset Market Segment Analysis – By End-User Industry

The Multimedia Chipset market is segmented into Consumer Electronics, IT and Telecommunication, Media and Entertainment, Government and others, based on the end-user industry. Media and Entertainment industry is analyzed to witness the highest amount of growth in Multimedia Chipset Market, as it will grow with a CAGR of 6.21% during forecast period 2021-2026. The growth is mainly attributed to the increasing dependence on movies, web series, gaming and other video as well as audio contents for entertainment purpose. In addition, high penetration rate of various online streaming apps such as Netflix, Amazon Prime, Hotstar, Voot, Hoichoi and many others, increases the adoption of smart-devices, which in turn accelerates the growth of this market. The video display quality of these sites, gaming platforms, affects the view-ship as well as subscription rate, and to improve it, organizations are investing massive amounts in graphics, which affects this market positively. Apart from that, due to Covid-19, people couldn’t go out for entertainment, which has generated new growth avenues for the gaming, OTT platforms along with entertainment devices such as televisions, smart-phones and others. This factor has created positive impact on the growth of this technology. In July 2020, Netflix published a report, according to which, Netflix had added 10 million new paid subscribers during the lockdown period. Hence, the above-mentioned factors are analyzed to drive the market during 2021-2026.

Multimedia Chipset Market Segment Analysis – By Geography

APAC held a significant multimedia chipset market share in 2020 and is anticipated to grow with the fastest CAGR of 30.45% during 2021-2026. This growth is mainly driven by high demand of technologically advanced smart devices including smart-phones, various smart wearable devices, IPTV, home media players and other embedded computing systems. In July 2020, Indian Cellular and Electronics Association (ICEA) and KPMG published a joint report, according to which India will have 829 million smart-phone users by the end of 2022. Thus, the above mentioned factor creates opportunities for the players of multimedia chipset market and to fulfil the requirement, organizations are launching new products. For instance, in April 2021, MediaTek announced about the launch of its new chipset 1200, for 5G smart phones in Indian market. This chipset supports ray tracing in mobile games and artificial reality applications for more realistic visuals. Furthermore, increasing consumer base in the entertainment industry and increasing disposable income of the developing countries of this region accelerates the growth of this market. According to a recent report published in January 2021, the total number of ASIAN paid subscribers of Netflix had reached 25.5 million, which represents 64% growth over the previous year and this region also became the 2nd largest contributor in terms of subscribers. Furthermore, Government initiatives to promote the adoption of IPTV in the region are a major growth driving factor. In November 2020, China telecom collaborated with UTStarcom to launch its IPTV services. Hence, the above mentioned factors will drive and lead the Asian multimedia chipset market during 2021-2026.

Multimedia Chipset Market Drivers

Growing demand for IPTV – A One-stop Solution:

One of the major drivers behind the growth of multimedia chipset industry is increasing demand for IPTV. IPTV is a one-stop solution for the customers that offers OTT services, cable TV services as well as home networking services through one cable, making it more desirable technology, which drives the adoption rate of IPTV. This in turn drives the adoption rate of multimedia chipset. In June 2020, Jio published its financial report for 2019-2020, which states that, till March 2020, Jiofibre has connected approximated 1 million homes that too within few months of its launch. Apart from that, video-on-demand (Vod) and telecommunication services along with audiovisual systems that make this technology more interactive, are also a part of IPTV services which fuels the growing demand of this technology. To meet the growing demand for digital signal processing chips supported IPTV, major players are launching new products. In January 2021, CogecoConnexion announced about the launch of its new IPTV services, which is a combination of internet and television. Hence, the growing demand for IPTV coupled with such product launches will drive the market growth during the forecast period 2021-2026.

Rising Penetration of Smart phones:

Increasing demand for smart phones is one of main drives behind the growth of this market. Technological development, rise in purchasing power, increasing affordability of devices with advanced features and growing penetration of IoT have accelerated the demand for smart phones, thereby affecting the growth of multimedia chipset market positively. According to a report from OBERLO, in 2020 the number of smart-phones users across the globe is projected to be 3.5 billion, which represents 9.3% rise than the previous year. Moreover, exponentially growing consumer base of various OTT platforms such as Netflix, Amazon Prime, Hotstar and others, and gaming platforms triggers the adoption of smart-devices for online streaming as well as gaming, which in turn creates massive growth opportunities for multimedia chipset in the forecast period 2021-2026.

Multimedia Chipset Market Challenges

Security Issues:

Although these chipsets are highly being used in various sectors for different applications, but this technology has some serious security issues. In March 2020, a serious security flaw was detected in Intel’s Chipset that are being used in computers for last five years. This flaw allowed the hackers to bypass the encryption codes and to install malware like keyloggers, without being noticed. This flaw will hinder the growth of multimedia chipset market in the forecast period 2021-2026.

Multimedia Chipset Market Landscape

Technology launches, Acquisitions, Collaboration and R&D activities are key strategies adopted by players in the Multimedia Chipset market. Multimedia Chipsets top 10 companies includes Intel Corporation, Qualcomm Inc., NVIDIA Corporation, MediaTek Inc., Cirrus Logic Inc., Apple Inc., Marvell Technology, Inc., Broadcom Corporation, STMicroelectronics Inc., Realtek Semiconductor Corp and others.

Acquisitions/Technology Launches

In March 2021, Qualcomm announced about its acquisition of a chipset start-up company, NUVIA for $1.4 billion, in order to put the organizations technology into its smart-phones, laptop and automotive processors.

In December 2020, Qualcomm launched QCC305x SoCs, new flexible and affordable chipsets for truly wireless earbuds (TWEs). This product will bring high-end premium feature to mid-range TWEs and it is also developer ready for the upcoming Bluetooth LE Audio standard.

Key Takeaways

Media and entertainment industry are analyzed to grow with highest growth rate; the rising dependency on digital platform for entertainment purpose is the key factor behind the growth of this industry.

APAC is projected to witness fastest growth in the Multimedia Chipset market during the forecast period owing to high penetration of smart-devices and increasing number of subscribers in Asian Entertainment Industry.

Growing demand for IPTV works as a growth driver for multimedia chipset market.

The multimedia chipset industry outlook is consolidated with top market players including Intel Corporation, Qualcomm Inc., NVIDIA Corporation, MediaTek Inc., Cirrus Logic Inc., Apple Inc. and others.

Relevant Report Titles:

A. Set-top Box Market

https://www.industryarc.com/Research/Set-top-Box-Market-Research-510060

B. Integrated Graphics Chipset Market

https://www.industryarc.com/Report/15758/integrated-graphics-chipset-market.html

For more Electronics related reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/

view more articles

About Article Author