Albany, NY -- (SBWIRE) -- 08/08/2016 -- The marketplaces for graphics chipsets and audio chipsets are currently dominated by different players due to the nature of these product segments. The three dominant players in graphics chipsets – Intel, NVidia, and AMD, Inc. – occupied 98.2% of the market in 2014, revealing an extremely consolidated market with little to no entry for new players. As for audio chipset makers, Cirrus Logic, Inc., Qualcomm, Inc., and Realtek Semiconductor Corporation are the top three players. They collectively held 69.4% of the market in 2014.

Both segments of multimedia chipsets show a high level of competitive rivalry due to the currently large scope of product differentiation. Therefore, the primary factors that decide pricing are the competitive intensity and the level of innovations.

Transparency Market Research (TMR) states that the threat of new entrants is expected to increase over the coming years, due to the lower capital investments required. Players can also enter into agreements with chip makers to minimize the high initial cost of setting up a factory, recommends TMR.

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As Handheld Device Demand Increases, Multimedia Chipsets Players Look to Consumer Electronics

"The number of smartphone users is visibly increasing," states a TMR analyst, adding "Smartphones and other handheld or wearable consumer electronics are under constant development due to consumer demand for faster and more powerful devices. This provides a terrific ground for multimedia chipsets companies to expand their horizons."

The demand for better devices is not limited to smartphones either. Consumers especially in the gaming industry are showing a very high demand for advanced hardware components to be commercially available for a better gaming experience. This includes both desktop PCs and laptops and involves both graphics and audio interfaces.

Emergence of SoC Tech Boosts Embedded Software Usage, Hinders Multimedia Chipset Manufacture Rate

Key advancements in the system-on-chip architecture have helped new hardware components to reach maturity faster. This rapid rate of market maturity has enabled the standardization of most hardware components, which also means a high commoditization rate for hardware components.

For most IT product companies, this will allow them to spend more on research and development on software rather than hardware. Furthermore, with standardized hardware, the system software will be the only key differentiation factor for most users, significantly restricting the USPs offered by multimedia chipsets manufacturers.

The total revenue earned in multimedia chipsets globally is expected to reach US$40.99 bn by the end of 2023, with this market expected to report a CAGR of 6.6% from 2015 to 2023, owing to the rapid increase in demand for portable consumer electronics.

Browse the full Multimedia Chipsets Market Research Report at http://www.transparencymarketresearch.com/multimedia-chipsets-market.html

By application, multimedia chipsets have found immense scope for growth in handheld devices, a segment which is expected to reach over US$15 bn by the end of 2023. Graphics chipsets have been the leading function for multimedia chipsets so far and will continue to do so till 2023. By this year the segment is expected to raise close to US$30 bn in revenue.

Asia Pacific is currently the leading region for multimedia chipsets revenue and is expected to generate close to US$19 bn by 2023. It will be nearly twice as much as the revenue gained by North America, the current second-largest regional segment for multimedia chipsets.

The information presented in this review is based on a Transparency Market Research report, titled, "Multimedia Chipsets Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023."

Key Takeaways:

-Asia Pacific multimedia chipsets market expected to generate US$19.17 bn in revenue by 2023.

-Wearable devices boom complements handheld devices demand, as the latter is expected to generate US$15.19 bn by 2023.

-Graphics chipsets expected to generate US$29.17 bn in revenue by 2023.

Key Segments of the Global Multimedia Chipsets Market

Global Multimedia Chipsets Market: By Function
-Audio chipsets
-Graphics chipsets

Global Multimedia Chipsets Market Analysis, by Application
-Digital Cable TV
-Set Top Box and IPTV
-Home Media Players
-Handheld Devices
-Others

Global Multimedia Chipsets Market: By Region
-North America
-Europe
-Asia Pacific
-MEA
-LATAM

About Transparency Market Research
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TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.