Leading radio frequency components market players include IQE PLC, NXP Semiconductors N.V., Renesas Electronics Corporation., Taiwan Semiconductor Manufacturing Company Limited, Texas Instruments Incorporated., TDK Corporation, Skyworks Solutions, Inc., ROHM CO., LTD., TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, and Murata Manufacturing Co., Ltd.
New York, Feb. 13, 2024 (GLOBE NEWSWIRE) — The global radio frequency components market size is slated to expand at ~14% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 163 billion by the end of 2036, up from a revenue of ~USD 34 billion in the year 2023.The demand for wireless connectivity is growing exponentially with an increasing number of devices requiring seamless communication. These devices include smartphones, tablets, wearables, IoT devices, and automotive systems. RF components such as amplifiers, filters, antennas, and transceivers play a crucial role in enabling wireless networks to function efficiently. These components help to boost the signal strength and filter out unwanted noise.
Request Free Sample Copy of this Report @ in Asia Pacific region is estimated to garner the largest revenue by the end of 2036. The growth of the Radio Frequency (RF) components market is mainly due to the increasing demand for these components in consumer electronics applications. The revenue generated by the region’s consumer electronic sector amounted to USD 480 billion, as of 2023. The adoption of power amplifiers and duplexers in mobile phones, tablets, laptops, and notebooks is driving this demand. RF components are responsible for converting frequencies both up and down. The radio frequency down converter is used to convert the signal to a baseband signal that is appropriate for use in the global system for mobile communications (GSM). The Asia Pacific region is expected to see substantial growth in the demand for RF components in consumer electronics applications 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.
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Wireless Communication Expansion to Propel the Growth in the North America Region
The North America radio frequency components market is estimated to garner the highest CAGR by the end of 2036. The ongoing expansion of wireless communication networks, including 4G and 5G technologies, is a significant driver for the RF components market. According to a report by a leading telecommunications association, North America experienced a 20% increase in 5G network deployments from 2020 to 2021, driving the demand for RF components. The region is characterized by a robust ecosystem driving the evolution of wireless communication. With a mature telecommunications infrastructure, North America leads in the adoption of advanced RF technologies, particularly in the context of 5G network deployments. The region’s emphasis on high-speed connectivity fuels the demand for cutting-edge RF components, including amplifiers, filters, and antennas. The radio frequency components market benefits from a thriving consumer electronics sector, where demand for smartphones, IoT devices, and other wireless gadgets continues to surge. Additionally, the automotive industry’s pursuit of connected and autonomous vehicles further stimulates the need for RF components in vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication systems. North America’s innovation hubs and substantial investments in research and development foster continuous advancements, positioning the region at the forefront of RF technology innovation and shaping the landscape of wireless connectivity across industries.
Radio Frequency Components, Segmentation by Application
- Consumer Electronics
- Wireless Communication
Amongst these segments, the oral segment in radio frequency components market is anticipated to hold the largest share over the forecast period. The growth of the electronics industry can be attributed to the increasing expenditure on consumer electronics and rising disposable income, resulting in higher demand for items such as smartphones, laptops, tablets, smart wearables, and smart home accessories. The demand is also being driven by the increasing use of IoT technologies and technical advancements such as AI integration in TVs and set-top boxes for voice recognition and control. As per estimates, more than 14 billion interconnected Internet of Things devices are in use worldwide, and it is expected that by 2030, there will be around 25 billion connected IoT devices, providing prospective opportunities for the segment’s growth. Moreover, the automotive sector is also expected to grow rapidly due to the rising demand for connectivity features like music systems in vehicles. The installation of automation solutions in vehicles is also expected to drive demand for RF components in this segment.
Radio Frequency Components, Segmentation by Product Type
- Power Amplifiers
- Antenna Switches
- Modulators & Demodulators
Amongst these segments, the filters segment in radio frequency components market is anticipated to hold a significant share over the forecast period. As 5G networks continue to roll out globally, the demand for high-frequency filters, such as surface acoustic wave (SAW) and bulk acoustic wave (BAW) filters, has surged. These filters play a crucial role in managing and optimizing the increasing data traffic in mobile communication networks. Filters are essential components in IoT devices, ensuring reliable communication and reducing interference. As the number of connected devices continues to rise, the filters segment experiences increased demand for specialized components that can address the unique frequency requirements of IoT applications. An industry analysis report indicated a 30% growth in the number of connected IoT devices worldwide from 2019 to 2021. The proliferation of IoT devices across various industries is driving the demand for filters, especially as IoT applications become more widespread. Filters are crucial in ensuring signal integrity and preventing electromagnetic interference (EMI) in automotive electronics. With the rise of connected vehicles and ADAS, filters are in demand to support the complexity of electronic systems within automobiles.
Few of the well-known industry leaders in radio frequency components market that are profiled by Research Nester are IQE PLC, NXP Semiconductors N.V., Renesas Electronics Corporation., Taiwan Semiconductor Manufacturing Company Limited, Texas Instruments Incorporated., TDK Corporation, Skyworks Solutions, Inc., ROHM CO., LTD., TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION, Murata Manufacturing Co., Ltd, and other key market players.
Recent Development in the Radio Frequency Components Market
- A new multiyear, multibillion-dollar deal between Apple and Broadcom, a major American advanced manufacturing and technology business, was unveiled. Broadcom will create cutting-edge wireless connectivity components and 5G radio frequency components, such as FBAR filters, through this partnership.
- IQE showcased its exclusive RF Filter Materials Portfolio at CS-ManTech in Minneapolis, MN, USA. High-performance SAW and BAW filters, which are essential parts of mobile phones that support 5G technology, can be used using IQE’s technology.
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