GVR Report cover Radio Frequency Components Market Size, Share & Trends Report

Radio Frequency Components Market Size, Share & Trends Analysis Report By Product (Power Amplifier, Filters, Duplexer), By Application (Consumer Electronics, Military, Automotive), And Segment Forecasts, 2020 - 2025

  • Report ID: 978-1-68038-700-1
  • Number of Pages: 130
  • Format: Electronic (PDF)

Report Overview

The global radio frequency components market size was valued at USD 20.55 billion in 2019 and is expected to ascend at a compound annual growth rate (CAGR) of 14.0% from 2020 to 2025. Continuous innovations and advancements in mobile handset technology owing to continuing transition from 2G, 3G to 4G/LTE, LTE-Advanced, LTE-Advanced Pro, and 5G lead to the rising need for maximizing power efficiency and spectrum range of the mobile devices. This, in turn, is expected to spur the demand for radio frequency (RF) components in the forecast period.

China radio frequency components market size, by product, 2015 - 2025 (USD Billion)

IoT solutions require enhanced wireless connectivity, thereby driving the need for new and advanced RF components. Moreover, increasing sales of smartphones owing to constant product development offering improved performance, biosensors, long battery life, and more AI features and increasing popularity of low-end smartphones in emerging countries will boost the RF components market. Thus, the requirement of low-power ICs for maximizing battery life and to reduce charging time in smartphones is expected to spur the demand for RF components. Increasing adoption of IoT across industrial, residential, and consumer applications is expected to impel the product demand.

Furthermore, a number of applications and products, such as home robots, smart wearables, self-driving cars, and smart manufacturing solutions and tools, are being integrated with IoT-related technologies, leading to an increased scope of usage for the product. However, the requirement of features, such as longer battery life, low-power wireless connections, and diversified sensors, in these products and applications are pushing RF component manufacturers and solution designers to focus more on technological developments in their deliverables. Owing to the aforementioned factors, the market is anticipated to attain significant growth in the years to come.

Technological advancements in the fields of cellular mobile and wireless communication, including the development and deployment of 5G networks, are driven by the increasing demand for broadband services and faster speeds for mobile internet connectivity. Moreover, like most new generations of mobile internet connectivity, the 5G network has a greater coverage area and reduced latency than the previous generations. Thus, the adoption of 5G networks in wireless communication will lead to the need for low-frequency, tall antenna macro cell sites for larger area coverage, which, in turn, will proliferate the for RF components.

However, a rise in the cost of raw materials is anticipated to negatively impact the RF components market. Primary raw materials used in the production of RF components include silicon wafers, a variety of chemicals, and photoresist materials. The shortage of such raw materials due to increasing demand from manufacturers has resulted in industry-wide price adjustments and delivery delays. For instance, there is a rise in the prices of silicon wafers due to their growing demand in the semiconductor industry.

Radio Frequency Components Market Trends

The widespread usage of Radio Frequency (RF) components in portable consumer electronics including smartphones, tablets, notebooks, set-top boxes, and smart televisions is anticipated to propel demand. Besides, smartphone proliferation is expected to propel the RF components demand over the next few years. Further, the rising consumer disposable income, particularly in developing economies such as Brazil and India, has significantly resulted in the increasing adoption of consumer electronic devices with connectivity features. The growing need for faster access to mobile data is anticipated to drive growth over the forecast period.

RF components are prominently used in electronic devices for low and high power attenuation, termination, coupler, and power-divider applications. The growing demand for mobility and automation in day-to-day applications is expected to significantly increase RF components’ demand. Also, these RF components are the building blocks enabling connectivity in several electronic devices, which is anticipated to be a prime factor in driving the market growth.

Likewise, there have been significant advances in telecommunication technology over the past few years. These advances have offered the population a new level of connectedness. As per the Global Web Index (GWI), by 2017, over 2.80 billion users are estimated to use the Internet over their phones, which is more than 85% of the total internet users across the globe. Over the past few years, the internet has revolutionized the way of communication between people and now devices. It has emerged as a universal source in various sectors across the globe. Such mobile, clutter-free wireless technology has been the key to its evolution. As per the Broadband Commission for Digital Development, the number of users accessing the internet on phone and tablets are expected to reach over 6.5 billion by 2020. The increasing shift from 2G to 3G, 4G, and LTE technologies is estimated to trigger internet usage across the globe.

Thus, rapid advances in technology and wireless communication along with increasing adoption of consumer electronic devices such as set-top boxes, smartphones, and smart television are factors anticipated to augment the market growth. Further, the increasing popularity and adoption of the internet, owing to its advantages including unlimited communication, abundant information and resources, easy sharing, and online services has resulted in increased demand for consumer electronic devices, which has subsequently led to the proliferation of the wireless communication network worldwide

The increasing demand for semiconductors across several applications, such as wireless, automotive, and consumer electronics segment, has led to an increase in the prices of raw materials. The high price volatility in many of the raw materials needed to make RF components along with the ever-increasing energy cost is expected to restrain the market over the forecast period. For instance, fluctuating copper and aluminum prices have had a great impact on the market.

Product Insights

Based on the product, the market has been segmented into filters, duplexers, power amplifiers, antenna switches, and modulators and demodulators. The power amplifiers segment held over 30% of the overall market share in 2018. It is expected to witness significant growth over the forecast period as well. Increasing applications of power amplifiers in HDTV, GSM, Radar, Point-to-Point Microwave, LTE & 5G signal amplification, etc. are anticipated to spur the segment growth over the forecast period. The filters segment is estimated to exhibit rapid growth over the forecast years, which is primarily attributed to rapid growth in the user base of mobile devices and 4G LTE networks. The antenna switches segment is estimated to witness a steady growth rate over the forecast years. This can be attributed to the increasing experimentation with switch architectures, rising applicability, and advancement of IoT technologies resulting in the development of small, inexpensive, and energy-efficient solutions.

Application Insights

Based on the application, the market has been segmented into consumer electronics, automotive, military, and wireless communication. The consumer electronics segment accounted for more than 60% of the overall market in 2018. The segment is further expected to witness substantial growth over the forecast period. This may be attributed to the rising disposable income and increasing spending on consumer electronic devices, such as smartphones, tablets, laptops and notebooks, smart wearables, and smart home accessories. Extensive usage of IoT technologies and technological advancements like the incorporation of AI functions (voice recognition/controls) in TVs and set-top boxes are also driving the product demand in consumer electronics.

Global radio frequency components market share, by application, 2019 (%)

Furthermore, government mandates for the installation of set-top boxes in the number of countries is estimated to fuel the segment growth further. The automotive sector is also anticipated to witness rapid growth from 2019 to 2025 owing to increasing demand for connectivity features, such as navigation systems, Bluetooth, location tracker, music system, and central locking systems, in vehicles. An increasing number of automation solution installations in vehicles is also expected to drive the product demand in this segment.

Regional Insights

North America emerged as the leading regional market in 2021 due to increasing demand for RF components in consumer electronics applications. Growing adoption of power amplifiers and duplexers for use in a wide range of devices such as mobile phones, tablets, and laptops & notebooks among others. The RF components are used for frequency up and down-conversion. The RF down converter converts RF signal to baseband signal for use in GSM.

The demand for the RF components in the U.S. for the consumer electronics application is anticipated to grow exponentially, owing to the increasing adoption of RF components due to their ability to provide or control coverage with some kind of antenna or transmission system.

The Asia Pacific market segmented on the basis of the application was led by consumer electronics. The consumer electronics segment comprises a range of devices such as mobile phones, tablets, and laptops & notebooks that adopt a range of RF components for a wide range of applications such as power amplification, and data transmission, along with many others. For instance, an antenna switch controls and manage the frequency to pass through. It switches the RX frequency signal and TX frequency signal during the transmission process.

Radio Frequency Components Market Trends by Region

The China RF component market segmented by product was dominated by the power amplifiers and the Antennas market will witness the highest growth rate during the forecast period. The largest market size of the power amplifiers market is a result of the increasing integration of such components in the consumer electronics and automotive segment. However, with the rising acceptance of Antennas, this segment will exhibit the highest growth rate during the forecast period.

Key Companies & Market Share Insights

Key industry participants compete on the basis of the development of inexpensive products that offer higher flexibility and performance along with faster access to mobile data. Manufacturers also invest in the development of products with energy-efficient components based on materials, such as Gallium Nitride (GaN) and Silicon Carbide (SiC).

Furthermore, companies are focusing on new specialty technologies, such as RF and 3D-intelligent sensors, targeting 5G and IoT applications. Leading companies in the market include Broadcom, Inc.; Fujitsu Limited; International Quantum Epitaxy Plc; NXP Semiconductors N.V.; Renesas Electronics Corporation; Murata Manufacturing Co. Limited; Taiwan Semiconductor Manufacturing Co. Limited; Texas Instruments, Inc.; and TDK Corporation.

Radio Frequency Components Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 23.79 Billion

Revenue forecast in 2025

USD 45.05 Billion

Growth Rate

CAGR of 14.0% from 2020 to 2025

Base year for estimation

2019

Historical data

2014 - 2018

Forecast period

2020 - 2025

Quantitative units

Revenue in USD million and CAGR from 2020 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa.

Country scope

U.S.; Canada; U.K.; Germany; China; India; and Japan.

Key companies profiled

Broadcom, Inc.; Fujitsu Limited; International Quantum Epitaxy Plc; NXP Semiconductors N.V.; Renesas Electronics Corporation; Murata Manufacturing Co. Limited; Taiwan Semiconductor Manufacturing Co. Limited; Texas Instruments, Inc.; and TDK Corporation.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country; regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Radio Frequency Components Market Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global radio frequency components market report on the basis of product, application, and region:

Globl Radio Frequency Components Market Segmentation

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Filters

    • Duplexer

    • Power Amplifiers

    • Antenna Switches

    • Modulators & Demodulators

    • Others

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Consumer electronics

      • Mobile phones

      • Tablets

      • Smart TVs & set-top boxes

      • Laptops & notebooks

    • Automotive

    • Military

    • Wireless Communication

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • The U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

    • Middle East & Africa (MEA)

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