“Global Radio Frequency Components Market to reach a market value of USD 90.2 Billion by 2031 growing at a CAGR of 13.3%”
The Global Radio Frequency Components Market size is expected to reach $90.2 billion by 2031, rising at a market growth of 13.3% CAGR during the forecast period.
Ongoing advancements in semiconductor technology are leading to developing more sophisticated and power-efficient antenna switch solutions. Thus, the antenna switches segment acquired 13.8% revenue share in the market 2023. Manufacturers are innovating to offer switches with lower insertion loss, higher isolation, and better linearity, meeting the requirements of next-generation wireless systems. Thus, the segment will expand rapidly in the coming years.
The major strategies followed by the market participants are partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In 2023, December, ROHM Co., Ltd. joined hands with Toshiba Electronic Devices & Storage Corporation, supplies a broad range of market-leading product lines, manufacture and increased volume production of power devices, a partnership recognized and supported by the Ministry of Economy, Trade and Industry as a measure supporting the Japanese Government’s target of secure and stable semiconductor supply. The collaboration is aimed to enhance both companies’ international competitiveness. Additionally, the companies will seek to contribute to strengthening the resilience of semiconductor supply chains in Japan. Additionally, In May, 2023, Broadcom, Inc. teamed up with Apple, an American multinational corporation and technology company. With this collaboration, the company aimed to develop 5G radio frequency components — including FBAR filters — and cutting-edge wireless connectivity components. The FBAR filters will be designed and built in several key American manufacturing and technology hubs, including Fort Collins, Colorado, where Broadcom has a major facility.
Based on the Analysis presented in the KBV Cardinal matrix; Broadcom, Inc. is the forerunner in the Radio Frequency Components Market. Companies such as Qualcomm Incorporated, Texas Instruments, Inc., Renesas Electronics Corporation are some of the key innovators in Radio Frequency Components Market. In October, 2023, Texas Instruments, Inc. came into partnership with Picocom, the 5G Open RAN baseband semiconductor and software specialist. on a complete 5G Open RAN small cell radio unit reference design to help accelerate customers’ time-to-market. The 5G small cell radio unit will meet the O-RAN Alliance specification for a 5W 4T4R 200MHz 5G outdoor radio unit (O-RU). It will feature TI’s AFE7769D quad-channel RF transceiver integrating DPD/CFR with Picocom’s PC802 5GNR/LTE PHY System-on-Chip (SoC). The reference design hardware will also be LTE compatible.
The deployment of 5G networks is one of the most prominent drivers of RF component demand. 5G technology operates on higher frequencies and requires advanced RF components such as antennas, amplifiers, filters, and transceivers to support faster data rates, lower latency, and increased network capacity.
Additionally, RF components are essential for communication systems used in defense and aerospace platforms, including military aircraft, ships, ground vehicles, and satellites. RF transceivers, antennas, amplifiers, and filters enable secure and reliable wireless communication between military units, command centers, and deployed forces in various operational environments. Therefore, these aspects will assist in the expansion of the market.
Meeting regulatory standards often requires significant research, development, and testing investment to ensure that RF components adhere to prescribed parameters. This can substantially increase the cost of bringing products to market, particularly for smaller manufacturers or startups with limited resources. Therefore, these factors can lead to reduced demand for radio frequency components.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations and Agreements.
Based on product, the market is segmented into power amplifier, filters, antenna switches, modulators & demodulators, duplexer, mixers & synthesizers, and others. The power amplifier segment held 25.8% revenue share in the market in 2023. Advances in semiconductor materials, device architectures, and manufacturing processes have developed more efficient and high-performance power amplifiers.
On the basis of application, the market is divided into consumer electronics, automotive, military, wireless communication, and others. In 2023, the automotive segment witnessed 13.3% revenue share in the market. The increasing demand for connected cars and in-vehicle connectivity features has driven the adoption of RF components such as RF amplifiers, filters, and antennas.
Free Valuable Insights: Global Radio Frequency Components Market size to reach USD 90.2 Billion by 2031
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe segment acquired 26% revenue share in the market. Europe has been at the forefront of technological innovations, particularly in the areas of telecommunications and consumer electronics.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 33.7 Billion |
| Market size forecast in 2031 | USD 90.2 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 13.3% from 2024 to 2031 |
| Number of Pages | 323 |
| Number of Tables | 254 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Application, Region |
| Country scope |
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| Companies Included | Fujitsu Limited, ROHM Co., Ltd., Broadcom, Inc., Texas Instruments, Inc., Murata Manufacturing Co., Ltd., Renesas Electronics Corporation, Toshiba Corporation, Qualcomm Incorporated, Mitsubishi Electric Corporation and NXP Semiconductors N.V. |
By Application
By Product
By Geography
The Market size is projected to reach USD 90.2 billion by 2031.
Expanding wireless communication networks are driving the Market in coming years, however, Regulatory constraints and standards compliance restraints the growth of the Market.
Fujitsu Limited, ROHM Co., Ltd., Broadcom, Inc., Texas Instruments, Inc., Murata Manufacturing Co., Ltd., Renesas Electronics Corporation, Toshiba Corporation, Qualcomm Incorporated, Mitsubishi Electric Corporation and NXP Semiconductors N.V.
The expected CAGR of this Market is 13.3% from 2023 to 2031.
The Consumer Electronics segment is leading the Market by Application in 2023; thereby, achieving a market value of $55.1 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $36.5 billion by 2031.
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