RF Components Market Share, Size, Trends, Industry Analysis Report, By Product (Duplexer, Antenna Switches, Filters, Modulators & Demodulators and Others); By Application; By Region; Segment Forecast, 2023 - 2032
- Published Date:May-2023
- Pages: 120
- Format: PDF
- Report ID: PM1071
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global RF components market was valued at USD 27.34 billion in 2022 and is expected to grow at a CAGR of 14.0% during the forecast period. Expanding government mandates relating to the utilization of radio frequency segments particularly in consumer gadgets is expected to drive development.
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The origin of rising advances including 4G is assessed to expand interest for these segments keeping in mind the end goal to get remote radio signs. Boundless use in a few application zones including military, social insurance, and wireless correspondence is likewise assessed to fuel the market significantly for Radio Frequency (RF) components.
The rising security level necessities and regulatory considerations have prompted the expanded usage of semiconductors in the automobile business. The automobile semiconductor segment is described by zero defection quality procedures, secure outline design, high dependability, and long product life. Progressed and effective semiconductor frameworks are required to satisfy the compliance norms.
The COVID-19 pandemic has caused disruptions in the supply chain and manufacturing operations of the RF components market, resulting in increased lead times, higher prices, and decreased availability. The demand for telecommunications equipment has increased due to remote work and online learning, but there has been a slowdown in other industries using RF components. The long-term impact on the market will depend on the speed of economic recovery, vaccine distribution, and the extent of continued remote work and online learning.
Industry Dynamics
Growth Drivers
There is a rising trend towards smart home devices, which are automated systems that can be controlled remotely via the internet, and this is driving growth in the RF components market. Smart home devices use various RF components, such as antennas, transceivers, and wireless sensors, to communicate with each other and with a central hub. This allows users to control various aspects of their homes, such as temperature, lighting, and security, from their smartphones or other internet-connected devices.
The market is expected to continue to grow in the coming years, driven by factors such as increasing consumer demand for convenience and energy efficiency, and advancements in wireless technologies. This is expected to drive demand for RF components in the market. However, as the smart home market becomes more competitive, manufacturers will need to focus on improving the reliability, security, and interoperability of their products to remain competitive. This will require continued innovation in the RF components used in smart home devices.
Report Segmentation
The market is primarily segmented based on product, application, and region.
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By Product |
By Application |
By Region |
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The Filters Segment is Expected to Experience Significant Growth over the Forecast Period
The filters segment is also expected to grow rapidly due to the increasing number of mobile device users and the growth of 4G LTE networks. Meanwhile, the antenna switch segment is anticipated to experience a steady growth rate as a result of experimentation with switch architecture, the rise of IoT technologies, and the development of small, energy-efficient solutions. These factors are expected to contribute to the growth of the RF components market in the forecast period.
The Consumer Electronics Segment Held the Highest Market Share in 2022
The consumer electronics sector held the highest market share in 2022, and it is expected to grow even further over the projected period. This growth can be attributed to the increasing spending on consumer electronics and rising disposable income, leading to higher demand for items like smartphones, laptops, tablets, smart wearables, and smart home accessories. The demand is also being fueled by the growing use of IoT technologies and technical innovations such as AI integration in TVs and set-top boxes for voice recognition and control.
In addition, government mandates in several countries for the installation of set-top boxes are expected to drive the growth of the consumer electronics segment further. The automotive sector is also expected to experience rapid growth due to the rising demand for connectivity features like music systems, location trackers, Bluetooth, navigation systems, and central locking systems in vehicles. The installation of automation solutions in vehicles is also expected to drive demand for RF components in this segment.
Asia Pacific Dominated the Global Market in 2022
Asia Pacific region dominated the market in 2022 with the highest market share and is projected to exhibit the fastest growth rate during the forecast period. The growth is attributed to the rising demand for RF components in consumer electronics applications, particularly the adoption of power amplifiers and duplexers in mobile phones, tablets, laptops, and notebooks, among others. Radio frequency components are utilized for converting frequencies both up and down. Specifically, the radio frequency down converter converts the signal to a baseband signal that is appropriate for use in the Global System for Mobile Communications (GSM).
The demand for RF components in the Asia Pacific region for consumer electronics applications is expected to grow substantially due to their ability to provide or control coverage with antennas or transmission systems. As a result, there is an increasing adoption of these components, leading to exponential growth in the region.
Competitive Insight
Some of the major players operating in the global market include Renesas Electronics Corporation., RF Axis., Freescale Semiconductor Inc., Fujitsu Limited, RF Micro Devices Inc, Texas Instruments Inc, STMicroelectronics N.V., and Taiwan Semiconductor Manufacturing Co., among others.
Recent Developments
- In February 2020, Apollo Micro Systems acquired a majority stake in Ananya SIP RF Technologies (ASIP RF). Under the agreement, Apollo Micro Systems acquired 51% of the equity share capital with the aim of expanding its business into new technologies by establishing a facility for designing and producing radio frequency (RF) and microwave equipment, as well as integrating it with other systems.
- In October 2019, Qorvo acquired Cavendish Kinetics Inc. (CK), which provides high-performance RF MEMS technology for antenna tuning applications. CK's RF MEMS technology has been shown to significantly improve antenna performance by reducing losses and increasing linearity, as validated by several major smartphone manufacturers. Qorvo plans to continue developing and scaling CK's technology and applying it to other areas, such as infrastructure and defense.
RF Components Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 31.14 billion |
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Revenue forecast in 2032 |
USD 101.50 billion |
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CAGR |
14.0% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments Covered |
By Product, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Renesas Electronics Corporation., RF Axis., Freescale Semiconductor Inc., Fujitsu Limited, RF Micro Devices Inc, Texas Instruments Inc, STMicroelectronics N.V., and Taiwan Semiconductor Manufacturing Co., among others. |
FAQ's
The RF Components Market report covering key segments are product, application, and region.
RF Components Market Size Worth $101.50 Billion By 2032
The global RF components market expected to grow at a CAGR of 14.0% during the forecast period.
Asia Pacific is leading the global market
key driving factors in RF Components Market are Advancement in Electronic Warfare (EW) Technology Caters the Demand of RF Component
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