Radio Frequency Integrated Circuit (RFIC) Market to Flourish at a CAGR of 8.2% and to reach US$ 52.1 billion by 2033

UK's RFIC market to grow at 8.5% CAGR, driven by IT advancements and manufacturing tech. High demand from connected consumer electronics fuels growth.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, December 1, 2023 /EINPresswire.com/ -- A recent report by Future Market Insights projects that, between 2023 and 2033, the global radio frequency integrated circuit (RFIC) market will grow at a compound annual growth rate (CAGR) of 8.2%. It is anticipated to be valued US$ 52.1 billion at the conclusion of the specified term.

In 2023, the global radio frequency integrated circuit (RFIC) market is expected to be worth US$ 23.6 billion. The rising usage of next-generation Long-Term Evolution (LTE) wireless networks is one of the primary factors driving the development of radio frequency integrated circuit deployment. The accelerating global accessibility of LTE networks has compelled electronic equipment and semiconductor vendors to set up a growing variety of RFICs.

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Another noticeable trend is the growing acceptance of the Internet of Things (IoT). Applications for IoT are booming in advanced nations such as Japan, the United Kingdom, and the United States, and they are also expanding in emerging economies such as India and Southeast Asia. This uptake is anticipated to drive the future advancement of the RFIC market. In addition, RFIC is seen as an emerging technology in advanced nations including Germany, the United States, the United Kingdom, and so on.

Key Takeaways:

North America was expected to have the largest global market share with a share of 20.2% in 2022.

By 2033, the global market is expected to be worth US$ 52.1 billion.

Europe was expected to account for 17.5% of the global market.

The RF Amplifier IC segment was expected to account for 24.3% of the global market.

Germany was expected to account for 7.6% of the global market.

“Several automakers are taking more collaborative approaches to developing breakthroughs in associated car technology. All of these advancements in the automotive sector are expected to drive RFIC product sales,” - says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Competitive Landscape:

Market manufacturers are focusing on innovation and strategic collaborations to gain a competitive advantage. As example,

Pharrowtech, a pioneer in the development and manufacture of millimetre wave (mmWave) hardware and software for next-generation wireless technologies, has received USD 18.40 million in Series A funding to continue developing next-generation 60 GHz wireless RF transceivers and antenna technology. The funding will allow Pharrowtech to accelerate the development of the PTR1060, a 60 GHz CMOS radio-frequency integrated circuit (RFIC).

Jinding Capital invested tens of millions of yuan (approximately US $1.5 million) in Meta Ink New Materials in 2023. Meta Ink manufactures electronic pastes for chip resistors, multiplayer ceramic capacitors (MLCC), tantalum capacitors, radio frequency integrated circuits, and other applications.

Key Companies:

Infineon Technologies AG
Analog Devices, Inc.
Texas Instruments
NXP Semiconductors
STMicroelectronics
Renesas Electronics
Microchip Technology Inc.
Silicon Labs
Skyworks Solutions, Inc.
Samsung
Broadcom, Inc.
Cypress Semiconductor
AnSem N.V.
Maxim Integrated
Murata Manufacturing Co., Ltd.

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Key Segments:

By Product:

RF Transceivers IC
RF Amplifiers IC
RF Modulators/Demodulators IC
RF Mixers/Multipliers IC
RF Switch IC
Others

By Application:

Consumer Electronics
Telecommunication
Automotive
Media & Broadcasting
Medical Devices
Industrial Electronics
Others

By Region:

North America
Latin America
Europe
Asia Pacific
Middle East and Africa

Author

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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