By 2023, the market for microwave monolithic integrated circuits is projected to reach USD 10,434.9 million by 2033, it is projected to increase at a compound annual growth rate (CAGR) of 12.2%, reaching USD 33,090.3 million.
Since microwave monolithic integrated circuits are mostly used in government-sponsored military applications, there is an anticipated increase in demand for them between 2023 and 2033. Furthermore, developments in semiconductor technology both affected and enabled better microwave circuit design for military equipment. Consequently, it is anticipated that the market share of microwave monolithic integrated circuits will rise.
Microwave monolithic integrated circuits are expected to find greater applications in the commercial and consumer domains, leading to a rise in their worldwide sales.
Microwave monolithic integrated circuits enable effective satellite communication, airborne radar infrastructure, and other applications, broadening their application spectrum in communications, homeland security scanners, imaging, and sensors. As a result, these variables are expected to boost the size of the microwave monolithic integrated circuits market.
Microwave monolithic integrated circuits are expected to gain popularity due to their low-noise amplification and high-frequency switching capabilities. Moreover, they also offer reproducible performance, which is expected to improve microwave monolithic integrated circuits industry data in the forecast term.
In the microwave monolithic integrated circuits market analysis, Europe came in second behind North America, with a high share of 22% expected to be acquired during the projected period from 2023 to 2033.
Europe microwave in the progress of 5G technologies is expected to raise demand for Mave monolithic integrated circuits market trends due to MIC and growing data transfer rates.
Key Takeaways
- The market grew at a CAGR of 10.1% during the last five years.
- The microwave monolithic integrated circuits market in the United Kingdom is predicted to expand at a CAGR of 12.3% by 2033.
- In 2022, North America held a 28.8% market share.
- In 2022, Europe recorded a market share of 21.1%.
- India’s market is expected to develop at a CAGR of 16.6% in the forthcoming years.
Competitive Landscape
The leading players in the microwave monolithic integrated circuits market are likely to expand the market to its peak in the future years to maximize revenue. For example,
- In November 2022, Infineon Technologies AG revealed the CTRX8181 RASIC CMOS transceiver MMIC, which could be used in vehicle radar systems to improve consistency, adaptability, and performance.
- The US Department of Defense (US) awarded MACOM Technology Solutions Holdings, Inc. a contract in April 2022 to create a high-power transmitter. The deal requires MACOM to develop a 45-Kilowatt Radio Frequency (RF) transmitter using novel Gallium Nitride (GaN) semiconductor and antenna beamforming methods.
Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global microwave monolithic integrated circuits market presenting a historical analysis from 2018 to 2022 and forecast statistics between 2023 and 2033.
The study reveals essential insights By Component (Power Amplifiers, Low Noise Amplifiers, Attenuators, Switches, Phase Shifters, Mixers, Voltage-controlled Oscillators, Frequency Multipliers), By Technology (MESFET, HEMT, pHEMT, mHEMT, HBT, MOS), By Material Type (Gallium Arsenide, Indium Phosphide, Indium Gallium Phosphide, Silicon Germanium, Gallium Nitride), & region.
Market Segmentation
By Component:
- Power Amplifiers
- Low Noise Amplifiers
- Attenuators
- Switches
- Phase Shifters
- Mixers
- Voltage-controlled Oscillators
- Frequency Multipliers
By Technology:
- MESFET
- HEMT
- pHEMT
- mHEMT
- HBT
- MOS
By Material Type:
- Gallium Arsenide
- Indium Phosphide
- Indium Gallium Phosphide
- Silicon-Germanium
- Gallium Nitride
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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