23% of consumers surveyed said 5G would lead to faster communications, 22% said 5G would help multi-network connectivity, 20% said the new technology will bring improved computing and powerful processing, according to the findings of the research firm Techarc.
Efficient use of resources and real-time communication are other benefits 5G is expected to offer.
Users are more inclined to consider MediaTek as their preferred chipset vendor as they move into the smart device ecosystem.
âRecent consumer-centric campaigns have helped MediaTek increase awareness of its brand and products to end consumers. This puts the Taiwanese chipset maker at the top of the rankings with 85% of respondents knowing about MediaTek and its product portfolio, âthe company said.
This contrasts with the smartphone market where the Taiwanese factory-less chipmaker and Qualcomm are in close competition.
âProcessors continue to be key enablers in terms of the main components that define the characteristics and functions of these smart devices. Among chipset vendors, MediaTek appears to be in a strong position with this shift in customer preferences, âsaid Faisal Kawoosa, founder and chief analyst at Techarc.
Here, consumers buy smart devices for personal use as well as home automation / office devices to strengthen their âsmartizationâ process.
âThe transition to purchasing smart home / office devices started in 2021. Previously, the focus was mostly on non-smartphone based personal smart gadgets like TWS, smartwatches, etc.â , observed the company in its findings.
While the Covid-19 pandemic is a key driver of this trend, the rapid growth of wired home broadband due to the aggressive deployment of fiber by telecom operators has also become a key enabler.
âThe change in behavior of consumers who turn to an ecosystem of smart devices from a sharp smartphone opens up great opportunities for the entire ecosystem. As such, smartphone OEMs have also adopted an ecosystem development strategy, âKawoosa added.
Techarc expects the smart device market to grow 5.8% in revenue in calendar year 2021 and smart connected devices are expected to generate total revenue of around 312 689 crores from Rs.