Cellular Baseband Forecast 2024 - 2028: Slow Recovery Led by Non-handsets

Cellular baseband and radio chipset unit shipments declined 8.8% from 2022 to 2023. New 5G processor features, capabilities, and price points will help bolster demand, however, growth will remain low in 2024 with unit shipments expected to increase 5.5% year on year. From 2023 to 2028 unit shipments will grow about 7.5% per year, most of this from M2M and cellular IoT including 5G REDCAP devices. This report recapitulates our past four Quarterly Baseband Tracker reports and extrapolates trends in system architectures, chip shipments and market share five years into the future.