The radio frequency integrated circuit market Industry is garnering substantial traction across the globe. Radio frequency integrated circuit (RFIC) is a chip that transmits and receives radio waves. RFIC chips are used in portable devices such as cellphones, Wi-Fi devices, wireless stations & routers, telephones, satellite transceivers, microwave equipment, and many others. The market growth attributes to the rising uses of RFICs in various industry verticals, including consumer electronics, automotive, government, and defense.
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Besides, rapid technological advances in wireless communication and the increasing adoption of consumer electronics are the major driving forces behind the growing market landscape. Moreover, the growing network of the universal mobile telecommunications system escalates the market growth. According to the well-known research firm - Market Research Future (MRFR), the global radio frequency integrated circuit market Industry is poised to grow at 10.4% CAGR throughout the forecast period (2018-2023).
The increasing proliferation of LTE networks has forced the semiconductor and electronic device manufacturers to integrate more RFICs. This adoption of RFIC is expected to increase in the future, which would provide a huge impetus to the growth of the market. Another trend observed during the market analysis is the increasing deployment of next-generation Long-Term Evolution (LTE) wireless networks that would influence market growth.
Radio Frequency Integrated Circuit Market – Segments
The report is segmented into three dynamics;
By Application: Global Positioning System (GPS), Near-field Communication (NFC), Radio Frequency Microelectromechanical System (RF Mems), Bluetooth, Wi-Fi, Wi-max, ZigBee, GPS, NFC, Power Amplifier, Transceiver, Wireless USB, and others.
By Vertical : Consumer Electronics, Automotive, Government, Defense, and others.
By Regions : Europe, North America, Asia Pacific, and Rest-of-the-World.
Radio Frequency Integrated Circuit (RFIC) Market – Regional Analysis
North America dominates the global radio frequency integrated circuit market. The largest market share attributes to the strong presence of notable industry players and well-established technology development centers in the region. Besides, considerable developments and early uptake of advanced technologies foster the growth of the region's market.
Moreover, large defense sectors in this region create opportunities for the radio frequency integrated circuit market to grow significantly. The North American RFIC market is estimated to retain its dominance throughout the projected period.
Europe stands second in the global radio frequency integrated circuit market. The market growth is driven by the vast demand from the consumer electronics, automotive, government, and defense sectors. Additionally, the increasing use of electronic devices for industrial, commercial, and residential purposes boosts the regional market growth.
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Market HighlightsAmong the vertical segments – consumer elctronics, automotive, government and defense, and others; the market for consumer electronics segment is expected to have highest market share throughout the forecast period.
The concept of autonomous vehicles, such as smart cars, connected cars and driverless cars is gaining ground and thus, the application of RFIC is expected to grow in the future.
The automotive segment is expected to grow with the highest CAGR.Key PlayersThe key players in the Radio Frequency Integrated Circuit market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise.
Some of them are— Qualcomm Technologies Inc. (US), Cree, Inc. (US), Silicon Laboratories (US), Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), Qorvo, Inc. (US), OctoTech Inc. (US), Peak RF (UK), Skyworks Solutions Inc. (US), Analog Devices, Inc. (US), NXP Semiconductors (US), Broadcom Inc. (US).
These include Samsung Electronics Co (South Korea), Renesas Electronics Corporation (Japan), Kangxi Communication Technology Co. Ltd. (China) and others.Regional AnalysisThe global RFIC market is expected to grow at a CAGR of 10.4% during the forecast period.
The geographical analysis of RFIC market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).North America holds the largest market share and is expected to continue this dominance during the forecast period.
Radio frequency integrated circuits are the elementary units for components that enable long-range connectivity such as LTE networks and short-range connectivity such as Bluetooth and Wi-Fi in computing devices.
Radio frequency integrated circuits are predominantly used in devices that perform functions that include amplification, frequency conversion and signal filtering.The increasing demand for optical, wireless, and other high frequency consumer electronic products has fuelled the growth of the global RF integrated circuits (RFIC) market in the recent years.
The advancement in IC fabrication technology has boosted the cost and performance of RF integrated circuits in consumer electronics.Request For Report Sample: https://www.researchreportinsights.com/report/upsample/120124773/Radio-Frequency-Integrated-Circuit-(RFIC)-MarketIn this report, segmented the global radio frequency integrated circuit market on the basis of product type, vertical and region.
The transceivers sub-segment is surging the growth of global radio frequency integrated circuit market because high-speed serial transceivers form the backbone of networks.
Communications, servers and many other electronic systems depend upon high-speed serial transceivers.
Moreover, the global adoption of the Internet is rapidly driving the usage of advanced radio frequency integrated circuits.Based on vertical, the radio frequency integrated circuit market is sub-segmented into consumer electronics, telecommunication, media & broadcasting, automotive, government and others.
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