Ottawa, March 06, 2023 (GLOBE NEWSWIRE) -- As per study by Precedence Research, the radio frequency (RF) components market size was valued at USD 31.64 billion in 2022. The need for consumer electronics is expanding driven by the emergence of new technologies and materials suitable for advancing devices are the key factors propelling the RF components market expansion.
Furthermore, the factors driving this market ahead are the downsizing feature of RF components. Additionally, the industry has seen a significant increase in demand for tuners and switchers due to improvements in universal mobile telecommunication networks, which provide precise functionality to other radio frequency devices like demodulators and power amplifiers.
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Key Insights:
- Asia Pacific has generated revenue share of around 33% in 2022.
- By product, the power amplifiers segment has accounted revenue share of over 35% in 2022.
- By application, the consumer electronics segment has held 64% of total revenue share in 2022.
Product Landscape
Based on the products, the RF component market is divided into filters, power amplifiers, modulators & demodulators, antenna switches, and duplexers. Duplexers are predicted to exhibit potential growth during the projected period among these segments. The cellular sector is expanding owing to rising lifestyle spending in developing nations. The demand for wireless communication and military applications is on the rise and is attributed to the expansion of duplexers in the RF component market.
Since they provide bi-directional communication, duplexers are currently in higher demand in electronic devices, including tablets, smartphones, set-top boxes, and laptops. As a result, it is encouraging the use of wireless communication and military technology. Therefore, the aspects mentioned earlier are fostering market revenue.
Application Landscape
Based on the applications, the RF component market is segmented into automotive, consumer electronics, wireless communication, and military. Automobiles with RF electronic components are significantly safer, more effective, and networked. The detonation of RF-built vehicle systems is wider than customer-oriented functionality. These days, automotive radar frequently takes the shape of a module that houses an RF board and a signal processing board. The RF section, antenna, power section, and high-speed digital interface are the five main structural components of a conventional vehicle radar module. Additionally, businesses have recently concentrated on creating 5G communication modules, which are essential to autonomous vehicles (AVs) and assist the market's expansion.
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Scope of the report
| Report Coverage | Details |
| Market Size in 2032 | USD 101.09 Billion |
| Asia Pacific Revenue Share | 33% in 2022 |
| Power Amplifiers Segment Share | 35% in 2022 |
| Consumer Electronics Segment Share | 64% in 2022 |
| By Product |
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| By Application |
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| By Region |
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| Key Players | Murata Manufacturing Co., Ltd., Toshiba Electronics Devices & Storage Corporation, Broadcom, Inc., Texas Instruments Inc., TDK Corporation, NXP Semiconductors N.V., Fujitsu LTD., Renesas Electronics Corporation, Skyworks Solution Inc., ROHM Co., Ltd. and Others |
Regional Landscape
The Europe RF components market is anticipated to rise due to technological advancements in wireless communication and the production of RF components utilizing materials like silicon germanium (SiGe) and gallium arsenide (GaAs). Due to its widespread use in wireless communication applications, including wireless networks (WLAN) and mobile communication, radio frequency electronics make up the largest application segment in the relevant market.
Given its significance to the operation of the modern economy, interest in semiconductors has skyrocketed recently, with an average annual growth of more than 30% over the previous five years and a record gain of +53.7% in 2021 as compared to 2020 in the European region, where the market capitalization of semiconductor businesses increased up to 2.5 trillion EUR in 2021.
The European Chips Act is also being adopted by the European Commission in 2022 to increase the EU's market share of semiconductors from 10% to at least 20% by 2030. For instance, due to investor investments, Germany is predicted to overtake other European countries as the region's top semiconductor producer. The sources claim that German businesses invest substantial sums of money in semiconductor production and research. Over the following ten years, investments are anticipated to total more than half a trillion dollars. As a result, the European nation has high RF component production due to the availability of semiconductors. Thus, these aspects are behind expanding the RF component market in the European region.
Market Dynamics:
Market Driver:
Upgrades in Technology of High-Power RF Components
The RF component market is flooded with wireless communication systems, which has decreased demand for conventional wired communication technologies. Advanced technological features like the IoT and AI have entered the market as the development of smart home appliances increases. For industrial IoT, it is crucial that embedded systems leverage developments in amplifiers, connectivity, and software. Smart cities and smart grids are becoming extremely advanced as organizations aspire for increased lower costs, operational efficiency, and improved decision-making capabilities.
Several industries are implementing connectivity models using wireless technologies. New consumer and industrial products can now be created owing to recent advancements in circuit implementation, semiconductor technology, and radio architecture. Therefore, the need for sophisticated RF products will increase as advanced technology is more widely accepted in industries.
Market Restraint:
Hurdles in Manufacturing and Installation
Designing highly integrated components for radio frequency applications presents unique problems for system engineers, designers, and commissioning engineers. The distinction between chip, package, and board is gradually collapsing on contemporary components. Parts of the functionality are increasingly being relocated to the package or the board. In some circumstances, the needs have grown so that operation can only be ensured through seamless communication between chips, packaging, and board. A variety of physical factors must be considered with special testing, and their influence must be assessed to guarantee a sturdy and reliable design for such components. In addition to the typical effects seen in other details, such as timing and voltage, etc., and the related testing, these impacts are also considered to hamper the market growth.
Market Opportunity:
Growing Product Utilization will Encourage RF Components Market Growth
Due to the numerous benefits of the components, they are employed in various industries, including high-energy physics, medical devices, space & military, and communication. The method comprises medical examinations like MRIs and radiofrequency ablations, which rely on RF components such as amplifiers for exact and accurate data collection. The RF power amplifier, for instance, might be expressly designed for original equipment manufacturing (OEM) uses. The device has various applications in various industries; thus, the market will expand rapidly in the near future.
Key Developments in the RF Components Market
- In February 2022, The Bluetooth Low Energy (LE) low-power, near-field communication standard was supported by two 2.4 GHz RF transceiver technology developed by Renesas Electronics Corporation. Additionally, the new technologies enable a smaller mounting surface and greater power effectiveness. Renesas presented these innovations during the International Solid-State Circuits Conference 2022 (ISSCC 2022), which took place in San Francisco.
- In April 2021, with full Bluetooth® 5.0 Low Energy functionality for system control and wireless communication on IoT endpoint devices, Renesas Electronics Corporation unveiled the RX23W Module. The new rx23w Module, which includes the RX23W 32-bit RX MCU supporting a fully integrated Bluetooth low-energy connection, is furnished with an antenna, an oscillator, and a specially designed circuit.
- In April 2021, the infrastructure and the automotive divisions of Silicon Labs were purchased by Skyworks Solutions, Inc. Skyworks' expansion in 5G and wireless infrastructure was aided by this acquisition.
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