Radio Frequency Component Market is Growing at CAGR of 16% and will Reach USD 16 Billion by 2022
Radio Frequency Component Market Growing due to Emerging 4G Technologies and the Increasing Use of Wireless Communication in Various Applications such as Consumer Electronics, Military, Healthcare
Pune, India – January 31, 2017 /MarketersMedia/ —
Market Highlights
Radio frequency component Market is expected to grow at CAGR of ~16% during the forecast period and expected to reach market size of USD ~16 Billion by the end of forecast period. The demand for radio frequency component devices is increasing considerably owing to the increasing demand for internet of things (IoT). Internet of Things facilitates communication of all devices with each other and also with a central system in a particular facility. The advancements in the mobile telecommunication networks (3G and 4G) are also driving the demand for tuners and switchers. Tuners and switchers offer explicit functionality to other radio frequency devices such as demodulators, power amplifiers, and others. The market is also experiencing a growth owing to the investment in research & development of wireless radio frequency components and increasing production of radio frequency systems for communication business.
Technological advancements backed up by improvement in quality of raw materials used for manufacturing radio frequency components such as silicon and gallium arsenide is also expected to drive the market growth. The market is further driven by factors such as the emerging 4G technologies and the increasing use of wireless communication in various applications such as military, wireless communication and healthcare. The rise in disposable income of consumers in developing nations is expected to drive the demand of consumer electronics with advanced connectivity feature which is projected to drive the demand of radio frequency components in upcoming future.
Market Players
• Qorvo Inc. (U.S.)
• Murata Manufacturing Co., Ltd. (Japan)
• Tsinghua Unigroup (China)
• Skyworks Solutions, Inc. (U.S.)
• Broadcom Limited (U.S.)
• Vectron International, Inc. (U.S.)
• Danaher Corp. (U.S.)
• WIN Semiconductors Corp. (Taiwan)
• Mitsubishi Electric Corporation (Japan)
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Radio frequency component Market
The Global Radio frequency component Market has been segmented on the basis of components, material and applications among others. Components comprises of filters, amplifiers, duplexer, antenna switches and modulators & demodulators among others. Materials consist of silicon, gallium arsenide, indium phosphide, nitride and others. The end-users are consumer electronics, automotive, telecommunication and military among others
Market Research Analysis:
Market Research Future Analysis shows that the Radio Frequency Component Market is growing rapidly with increasing use of radio frequency technologies for various applications. Consumer electronics is expected to grow the most among all application sectors owing to the rise in disposable income of consumers and the rising expense by consumers on electronic devices such as smartphones, laptops and notebooks. The automotive sector is also expected to record significant growth in the radio frequency component market due to increasing demand of connectivity features such as music system, navigation, Bluetooth, location tracker and central locking system of vehicles among others. In healthcare industry, radio frequency components help in identification and tracking of people, medicine tracking, supply chain, equipment tracking and blood transfer monitoring among others.
Intended Audience
• Radio Manufacturers
• Integrators
• Radio frequency testers
• Research firms
• Military and navy
• Raw material manufacturers
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Geographically, North America is expected to grow the highest owing to the well-established telecommunication sector in the region. The demand for radio-frequency component in telecom sector to operate in radio-frequency spectrum for providing better communication services to the users is driving the market growth in North America region. Asia pacific is also expected to be the fastest growing region owing to the increase in number of manufacturing sites of radio frequency components in the region. The region also accounts as the largest market for manufacturing and assembling of consumer electronics which is projected to contribute in the radio-frequency components market growth in the region. China is contributing majorly in growth of Asia Pacific region with existence of large number of manufacturers who are providing low cost OEM services. The Europe region is expected to grow significantly in the forecast period. The growth would be majorly driven by the recovery in healthcare industry in the region.
Related Report
Global VoLTE (Voice Over LTE) Technology Market, by Technology (Circuit Switch Fall Back (CSFB), SRVCC, VoIMS, SVLTE), by Device (Smartphone, Tablet, Router, Wireless Modem) – Forecast 2022 https://www.marketresearchfuture.com/reports/volte-technology-market
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Source: MarketersMedia
Release ID: 165756
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