The global radio frequency components market size is projected to reach USD 17.54 billion by 2022. Smartphone proliferation is expected to propel product demand over the next few years. Rising consumer disposable income, particularly in developing economies like Brazil and India, have significantly resulted in increasing adoption of consumer electronic devices with connectivity features. Growing need for faster access to mobile data may also drive growth over the forecast period.
Increasing government regulations pertaining to the use of radio frequency components especially in consumer electronics is anticipated to drive growth. The inception of emerging technologies including 4G is estimated to increase demand for these components in order to catch wireless radio signals. Widespread usage in several application areas including military, health care and wireless communication is also estimated to escalate demand.
Technological advancements in the field of wireless communication paired with development in materials used for manufacturing radio frequency components such as Silicon Germanium (SiGe) and Gallium Arsenide (GaAs) is also expected to drive industry growth. Development of wireless infrastructure along with mounting data across mobile and fixed broadband networks may favorably impact the market over the forecast period.
Growing need to provide multimode and multiband support to the growing number of 3G and 4G handsets is anticipated to drive the market significantly. Additionally, rising safety level requirements and regulatory scrutiny have led to increased sales of semiconductors in the automotive industry. The automotive semiconductor market is characterized by zero defect quality processes, secure design architecture, high reliability and long product life cycles. Advanced and efficient semiconductor systems are required to fulfill the aforementioned characteristics. The industry is poised for growth over the next seven years owing to the aforesaid data points.
India RF components market by product, 2012 - 2022 (USD Million)
The industry is segmented into filters, duplexer, power amplifiers, antenna switches, and modulators & demodulators. Power amplifiers segment accounted for more than 30% of the overall market share in 2014 and is expected to witness dramatic growth over the forecast period. This may be primarily attributed to the integration of these components to provide support to increasing the prevalence of mixed-mode high-end handsets.
Antenna switches are estimated to exhibit substantial growth over the coming years attributing to increasing experimentation with switch architectures especially in increasing number of 3G and 4G handsets. Duplexer accounted for over 25% of the overall revenue in 2014 which may decrease over the next few years owing to the downward trend of 2G handsets.
Application segment comprises consumer electronics, automotive, military and wireless communication. Consumer electronics accounted for more than 60% of the overall share in 2014 which is expected to increase over the next seven years. This may be attributed to rising consumer disposable income and increasing consumer spending for consumer electronic devices including smartphones, tablets, laptops and notebooks. Government mandates for installation of set-top boxes are also estimated to fuel demand.
The automotive sector is anticipated to witness rapid growth over the forecast period owing to increasing demand for connectivity features such as navigation system, Bluetooth, location tracker, music system and central locking in vehicles. Growing installation of automation solutions in cars is also expected to drive demand.
North America RF components market emerged as the leading regional segment in 2014 and accounted for more than 30% of the overall share in the same year. This may be mainly due to early technology adopters and already well-established telecommunication sector in the region.
Asia Pacific is also anticipated to witness substantial growth over the forecast period owing to rising consumer disposable income resulting in increasing adoption of consumer electronic products with connectivity features. Growing demand for better connectivity and mobility solutions may also spur regional demand.
Competitive Market Share Insights
Key participants compete on the basis of development of products that offer cost and flexibility, high performance, and faster access to mobile data. Manufacturers also emphasize on developing products with energy efficient components based on Galium Nitride and Silicon Carbide.
Notable companies include Aixtron SE, Avago Technologies Limited, Epcos, Freescale Semiconductor Inc., Fujitsu Limited, International Quantum Epitaxy Plc, NXP Semiconductors n.v, Renesas Electronics Corporation, RF Axis, RF Micro Devices Inc., Taiwan Semiconductor Manufacturing Co. Limited, Texas Instruments Inc., and STMicroelectronics n.v.
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