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Global Multimedia Chipsets Market to Grow to US$40.9 bn by 2023, Propelled by Increasing Demand for Portable Consumer Electronics

Multimedia chipsets are essential for numerous electronic devices and deal with video and audio processing. The global multimedia chipsets market stood at US$22.9 bn in 2014 and is predicted to reach US$40.9 bn by 2023 at a 6.60% CAGR. Growing demand for portable and handheld consumer electronics is the major factor driving the global market for multimedia chipsets during the forecast period. The rapid expansion of IPTV and set-top boxes is expected to fuel the global multimedia chipsets market in the coming few years. Heightening demand for wireless telecommunication devices has influenced the global multimedia chipsets market in the recent past

Download PDF for Multimedia Chipsets Market : http://tinyurl.com/hkp8nd3

Asia Pacific to Expand at 6.80% CAGR from 2014 to 2023, Driven by Increasing Demand for Smart Devices

The global multimedia chipsets market is segmented on the basis of function, application, and geography. By geography, the global multimedia chipsets market is divided into the Middle East and Africa, Latin America, North America, Asia Pacific, and Europe. Asia Pacific dominated the global multimedia chipsets market in 2014 in terms of revenue. The Asia Pacific multimedia chipsets market is expected to expand at a 6.80% CAGR during the period between 2014 and 2023. Increasing demand for smart devices such as smartphones and digital TV sets is predicted to propel the Asia Pacific multimedia chipsets market in the years to come.

Growing demand for gaming consoles, wearable technology, and tablets has further contributed towards the growth of the Asia Pacific market for multimedia chipsets. The Middle East and Africa multimedia chipsets market is predicted to be a dominant region by 2023 due to increasing demand for set-top boxes. Realtek Semiconductor Corp., Advanced Micro Devices Inc., Intel Corp., NVIDIA Corporation, Qualcomm Inc., and Cirrus Logic Inc. are some of the prominent players in the global multimedia chipsets market.

Rise of Portable Consumer Electronics to Influence Global Multimedia Chipsets Market

By function, the global multimedia chipsets market is classified into audio chipsets and graphics chipsets. In 2014, the global multimedia chipsets market was dominated by the graphics multimedia segment. Sophisticated games function efficiently with a high-capacity graphics card, which enables the leading graphics card manufacturers to invest in video games and computers. Leading graphics card manufacturers such as Intel, AMD, and Nvidia are focusing on investing in video games. The increasing use of smartphones, application of chipsets in handheld devices, and the decrease in the prices of smartphones are some of the factors propelling the global market for multimedia chipsets.

Based on application, the global multimedia chipsets market is classified into digital cable TV, set-top box and IPTV, home media players, handheld devices, and others. In 2014, the global multimedia chipsets market was led by the set-top box and IPTV segment. Steps taken by the governments of various countries to mandate the digitization of cable television has led to increased demand for set-top boxes and IPTV sets. The rapidly growing gaming industry, coupled with the rising demand for wearable devices, is expected to propel the global multimedia chipsets market in the next few years.

Browse the full Multimedia Chipsets Market Research report athttp://www.transparencymarketresearch.com/multimedia-chipsets-market.html

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