Radio Frequency Integrated Circuit Market: RFIC Market to Grow at 8.92% CAGR Promoted by Global Deployment of LTE and 5G Networks | MMR

The Radio Frequency Integrated Circuit Market size was valued at USD 23.15 Billion in 2023, and the total Radio Frequency Integrated Circuit Market revenue is expected to grow at a CAGR of 8.92% from 2024 to 2030, reaching nearly USD 42.11 Billion by 2030.
Radio Frequency Integrated Circuit Market Overview
A radio frequency integrated circuit (RFIC) defines to electronic circuit that is proposed to handle radio frequency signals. RFICs are enhanced for operating at high frequencies, mostly in the range of various hundred MHz to numerous GHz. Furthermore, they offer a range of advantages including wide coverage, high data transfer rates, low noise, high gain, efficient signal processing, and others. Their benefits are main factors for rising its deployment in aerospace & defence, automotive, healthcare, consumer electronics, telecommunication, and other industries. Radio frequency integrated circuit is a chip that transmits and receives radio waves in the frequency range in between 3 kHz to 2.4 GHz. RFIC includes RF mixers/multipliers IC, RF transceivers IC, RF modulators/demodulators IC, RF amplifiers IC, and RF switch IC. RFIC is widely used in IoT devices and mobile phones to offer frequency conversion, signal amplification, and modulation.
RFIC in mobile phones incorporates various performs and functions sophisticated signal processing to complete high-quality and efficient radio communication. Henceforth, growing adoption of mobile phones is expected to boost the radio frequency integrated circuit market during 2024-2030. For example, the number of mobile devices operating across the world was 15 billion in 2021 and is expected to reach 18.22 billion by 2025.



Leading radio frequency integrated circuit market companies are spending heavily in R&D to grow their product lines, which will aid the radio frequency integrated circuit industry produce even more. Business locally to minimize operating costs is one of the key business strategies manufacturers use in the global radio frequency integrated circuit market to value clients and increase the market. In recent years, the RFIC industry has offered some of the most significant technological developments. Key players in the radio frequency integrated circuit market, including Silicon Laboratories, Qualcomm Technologies Inc., Cree Inc., Infineon Technologies AG and others are attempting to grow frequency integrated circuit market demand by investing in R&D operations.

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Radio Frequency Integrated Circuit Market Dynamics
Increasing Demand for RFICs in Telecommunications to boost Radio Frequency Integrated Circuit Market growth:

RFICs are mainly utilized in the telecommunications industry, mainly for the transmission and communication of data over wireless mediums utilizing electromagnetic waves. Their ability to support various frequency bands, with 4G and 5G, makes them ultimate for deployment in network and communication base stations. Radio frequency integrated circuit market trend analysis reveals that various key factors are driving the growth of the telecommunications industry. These involve the growing deployment of 5G infrastructure, the rising adoption of smartphones and advanced communication devices, and the rising demand for wireless communication.

For example, according to the Ookla 5G Map, by November 2021, the number of countries with 5G-networks was equal to 112, which rose by 13% from 99 countries one year prior. Also, in 2022, Telefonica extended its fifth generation of mobile services to nearly 1.4 thousand municipalities in Spain and intends to reach 2.4 thousand by the end of 2023, denoting a growth of 71.4%.

Developing the Automotive Landscape with Radio Frequency Integrated Circuit:

Demographic changes and various technological improvements have set the pace for substantial growth in automotive industry. In this respect, RFICs are becoming rather indispensable towards automotive largely within automotive radar systems. Such systems are dysfunctional due to emergencies that require one to pull over, avoid hindrances and operate a car without human touch. ‘In the case of RFICs, many advantages that account for long-wavelength operation can be achieved because of miniaturization of the device. An extensive coverage of segment includes radio frequency integrated circuit market trends, revenues, future scope of growth and suggestions pertaining business strategies. Increasing demand for compact sized RFICs aids safety enhancement features not only in domestic regions.

Inclusive of this, the International Organisation of Motor Vehicle Manufacturers further notified that in the year 2022 throughout the world, some 61.59 million of passenger cars were manufactured which is an almost 8 percent from the 57 Year 2022. In the same way, the European Automobile Manufacturers Association noted that last year passenger car production in the EU increased to 10.9 million units, an increase of 8.3 percent from the previous year. This increase in car manufacturing is supporting

Future Opportunities: Expanding Applications in the Healthcare Industry:

The adding utilization of RFICs in the healthcare industry is expected to create significant opportunities for radio frequency integrated circuit market growth. RFICs are widely leveraged in medical devices such as pacemakers, MRI machines, and wireless patient monitoring systems. Their ultralow power consumption, high accuracy, compact size and enhanced efficiency are some of the benefits that drive the uptake of these devices in medical practice.

Radio Frequency Integrated Circuit Market trend study has figured out that several important factors are driving the development of the healthcare sector, with one of them being the rising incidences of chronic illnesses, higher healthcare costs, and increasing funds for modern medical imaging technologies for early diagnosis of diseases. For instance, as per the American Medical Association pointed out, healthcare expenditure in the United States reached about 4.3 trillion US dollars in 2021 which represents a 2.7% growth rate from the previous year. Such spending accounted for the 18.3 % share of the total gross domestic product of the United States. In addition, from 2021 to 2027 the European Commission has pledged around 6 billion US dollars in funding for the health industry in Europe.

Operational Challenges and Limitations Associated with Radio Frequency Integrated Circuit Market

The use of circuits is usually associated with a few operational and limitations challenges, which is a key factor restraining Radio Frequency Integrated Circuit market proliferation. Such as, RFICs particularly require medium to high power, which makes it unsuitable for battery powered applications or devices. Furthermore, they are often associated with high design complexities, specifically for deployment in small devices.

Furthermore, they require mandatory compliance with regulatory standards with Australian/New Zealand Standard (AS/NZS 4268:2003), Radio and Telecommunications Terminal Equipment Directive (R&TTE), Federal Communications Commission (FFC) regulations, and others. Therefore, the limitations and operational challenges related with them are constraining the growth of the Radio Frequency Integrated Circuit Market.
Radio Frequency Integrated Circuit Market Segment Analysis
Based on Application, Transceiver segment dominated the market in 2023 and is expected to hold the largest Radio Frequency Integrated Circuit Market share over the forecast period. The increase of lot and the developing availability of internet services in Brazil, China, the U.S., and India have been increasing the purchase of connected devices. Furthermore, with the rising number of smartphone users, the demand for transceivers is on the expansion, as these components are needed to establish wireless communications.

In Business Today’s projections, India will have about 1 billion smartphone customers by the year 2026 with the upsurge coming from the rural regions for internet-enabled phones. As for the statistics for the year 2021, there are 1.2 billion mobile subscribers of which close to 750 million are children with smartphones. Furthermore, India within the next 5 years is likely to become the second largest smartphone producer.



By Vertical, Electronics segment held the largest Radio Frequency Integrated Circuit Market share of about 48.5% for Radio Frequency Integrated Circuit Market in 2023 and is expected to grow rapidly during the forecast period. This increase is primarily attributed to the consumers’ increasing expenditure on electronics and other disposable incomes for goods such as tablets, smartphone, smart wearable notebooks, laptops as well as accessories for smart homes. There is also a rising need for languages such as electronics fueled using IoT and other technological inventions such as the combination of AI applications with set-top boxes and television sets.
Radio Frequency Integrated Circuit Market Regional Insight
In 2023, North America held the dominant share of nearly xx% in global Radio Frequency Integrated Circuit Market. This growth is driven by its placement in telecommunication, automotive, healthcare, aerospace & defense, and other industries. Examination of radio frequency integrated circuit market trends completes that the increasing utilization of RFIC in telecommunication infrastructure with base stations and network stations for communication and transmission of data over the wireless medium as electromagnetic waves are among the substantial factors driving the radio frequency integrated circuit industry growth in the region.

For example, as per the GSM Association, the total 5G connection operations across North America reached almost 140 million in 2022. Thus, the increasing telecommunication industry is fostering the placement of RFICs ICC in base stations and network stations, attributing to its ability to support many frequency bands with 4G, 5G, and others, in turn driving market growth in the North American region.

In 2023, Europe accounts for the second-largest market share because the automotive business is increasing, and fast urbanization and expanding incomes in development countries are driving up demand. Additionally, the German radio frequency integrated circuit industry held the largest market share, and the U.K. radio frequency integrated circuit industry was the fastest-growing market in the EU region.

APAC radio frequency integrated circuit market is expected to grow at the fastest CAGR of 9.11% from 2024 to 2030. This is attributed to rising Internet-enabled consumer electronics, growing disposable income, and the expansion of related technologies. Furthermore, China’s market held the largest market share in 2023.

Radio Frequency Integrated Circuit Market Competitive Landscape:

Leading companies in Radio Frequency Integrated Circuit Market were focusing on research and development to innovate new products or improve existing ones. This could involve developing Market derivatives with enhanced properties or applications to cater to specific industry needs. Collaboration with other companies, research institutions, or government bodies was common among key players. These partnerships involve joint research projects, technology sharing, distribution agreements, or co-marketing initiatives to leverage each other's strengths and resources. Such as:

• In April 2023, Qualcomm Technologies establishes new Snapdragon Spaces and adds a ground-breaking function called Dual Render Fusion, aiding programmers to incorporate head-worn boosted reality experiences into present smartphone applications easily.

• In May 2023, Silicon Labs explained two new IC families designed for the littlest form factor IoT devices - the BB50 microcontroller unit (MCU) and the xG27 family of Bluetooth systems on chips (SoCs).

• In December 2023, Publicized a collaboration with STMicroelectronics on the increase of high-performance RFICs for industrial and automotive purposes.
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Global Radio Frequency Integrated Circuit Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 23.15 Bn.


Forecast Period 2024 to 2030 CAGR:
8.92%
Market Size in 2030:
USD 42.11 Bn.


 Segments Covered:
by Application
Power Amplifier
Transceiver
Wireless USB
Bluetooth
Wi-Fi
Wi-Max
ZigBee
GPS
NFC


by Vertical
Electronics
Automotive
Government
Others



Radio Frequency Integrated Circuit Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, and Rest of APAC)
Middle East and Africa (South Africa, GCC, and Rest of the MEA)
South America (Brazil, Argentina, and Rest of South America)
Leading Radio Frequency Integrated Circuit Market Manufacturers include:
North America
1. Qualcomm Technologies Inc. (USA)
2. Silicon Laboratories (USA)
3. Cree Inc. (USA)
4. Qorvo Inc. (USA)
5. OctoTech Inc. (USA)
6. Analog Devices Inc. (USA)
7. Skyworks Solutions Inc. (USA)
8. Broadcom Inc. (USA)
9. Texas Instruments (USA)
10. MACOM Technology Solutions (USA)
11. Microchip Technology Inc. (USA)
12. ON Semiconductor (USA)
Europe
1.Infineon Technologies AG (Germany)
2. STMicroelectronics (Switzerland)
3.Peak RF (UK)
4. NXP Semiconductors (Netherlands)
Asia
1. Murata Manufacturing Co., Ltd. (Japan)
2. Renesas Electronics Corporation (Japan)
3. MediaTek Inc. (Taiwan)

FAQs:
1] Which region is expected to hold the highest share in the Market?
Ans. North America region is expected to hold the highest share in the Market.

2] Who are the top key players in the Market?
Ans. Silicon Laboratories, Qualcomm Technologies Inc., Cree Inc., Infineon Technologies AG are the top key players in the Market.

3] Which Vertical segment is expected to hold the largest market share in the Market by 2030?
Ans. Electronics segment is expected to hold the largest market share in the Market by 2030.

4] What is the market size of the Market by 2030?
Ans. The market size of the Market is expected to reach US $ 42.11 Bn. by 2030.

5] What was the market size of the  Market in 2023?
Ans. The market size of the Market was worth US $ 23.15 Bn. in 2023.