According to a recent study published by Future Market Insights, the global radio frequency integrated circuit (RFIC) market is forecast to rise at a CAGR of 8.2% from 2023 to 2033. By the end of 2033, a valuation of US$ 52.1 billion is predicted.
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 from the Market Study
- 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 an FMI analyst.
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 $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.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global radio frequency integrated circuit (RFIC) market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights By Product Type (RF Transceivers IC, RF Amplifiers IC, RF Modulators/Demodulators IC), Application (Consumer Electronics, Telecommunication, Automotive) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
Key Segments Profiled in the Radio Frequency Integrated Circuit (RFIC) Market Report
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
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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