The Latin America, Middle East and Africa Radio Frequency Components Market would witness market growth of 15.2% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Radio Frequency Components Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,722.5 million by 2031. The Argentina market is showcasing a CAGR of 16.1% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 14.8% during (2024 - 2031).
As per the data from the International Trade Administration, the latest available data (December 2022) show that in 2022, the automotive sector’s turnover was €92.7 billion, which was 9.3% of Italy’s manufacturing turnover and 5.2% of Italy’s GDP. In 2022, 782,629 vehicles (486,111 cars, 234,798 light commercial vehicles, and 61,720 trucks and buses) were produced in Italy. Likewise, as per Invest India, the automotive industry is valued at over $222 billion and accounts for 35% of the manufacturing sector’s gross domestic product.
Additionally, the radio frequency components market is characterized by rapid technological advancements and evolving industry trends that shape the competitive landscape and drive innovation across the value chain. The widespread adoption of 5G technology drives demand for RF components capable of operating at millimeter-wave frequencies and supporting massive MIMO (Multiple Input Multiple Output) antenna configurations.
Modern vehicles, including those manufactured in Saudi Arabia, are increasingly equipped with advanced connectivity, safety, and comfort technologies. These technologies rely on RF components for wireless communication, navigation, infotainment systems, and driver assistance features. As per the data from the International Trade Administration, in 2020, Saudi Arabia constituted 35% of the vehicles sold in the MENA region and nearly 52% of the vehicles sold in the Gulf Cooperation Council (GCC). In 2019, 556 thousand vehicles were sold in Saudi Arabia; in 2020, 436 thousand vehicles were sold. The projected sales figure by 2025 is 543,000 units.
Free Valuable Insights: The Worldwide Radio Frequency Components Market is Projected to reach USD 90.2 Billion by 2031, at a CAGR of 13.3%
Based on Application, the market is segmented into Consumer Electronics, Automotive, Military, Wireless Communication, and Others. Based on Product, the market is segmented into Power Amplifier, Filters, Antenna Switches, Modulators & Demodulators, Duplexer, Mixers & Synthesizers, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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