According to a research report titled ‘Global Mobile Phone Semiconductor Market Size study, by Component Type (Mobile Processors, Memory, Logic Chips, Analog) and Regional Forecasts 2020-2027’ available with Market Study Report, global mobile phone semiconductor market was worth USD 45 billion in 2019 and is expected to register a compound annual growth rate of 7.5%, accumulating USD 80 billion by the year 2027.
 

As per report findings, introduction of features such as video streaming in smartphones and mobile gaming platforms is boosting worldwide semiconductor market growth. Moreover, emergence of 5G technology and deployment of network are encouraging smartphone users to shift from LTE and 4G networks to 5G network, creating a high demand in mobile phone semiconductor industry.
 

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Citing an instance, the U.K. government announced an investment of USD 49.6 million in 2019 for trial and testbed projects conducted before the launch of 5G network in the country. Likewise, French Frequency Agency (ANFR) approved 65 trial 5G sites in August 2019.
 

Worldwide proliferation of smartphones, and rising demand for smart technology are adding traction to mobile phone semiconductor market growth.  According to the India Cellular and Electronics Association (ICEA), mobile phone production volume in the country was over 350 million units in 2019. Parallelly, Statista cites that there were 882 million smartphone users in China in 2019.
 

However, lack of technological know-how for development of green tier networks among manufacturers is a major factor that will restrain market growth over the study duration.
 

Speaking of component types, worldwide mobile phone semiconductor industry is arrayed into logic chips, memory, analog, and mobile processors.
 

On the regional front, Asia Pacific is currently dominating the worldwide mobile phone semiconductor market outlook owing to increasing promotion of 5G technology by local and central governments. Rising penetration of smartphones and internet across regions such as China and India will positively sway the business dynamics.
 

Key contenders in global mobile phone semiconductor market are Skyworks Solutions Inc., Samsung Electronics Co. Ltd., Qorvo Inc., Qualcomm Technologies Inc., Micron Technology Inc., MediaTek Inc., NXP Semiconductors N.V., Broadcom Inc., Huawei Technologies Co. Ltd., and Intel Corporation.