Overview and Scope
Radio frequency (RF) components refer to oscillation rate of an alternating electric current or voltage, or an electric, magnetic, or electromagnetic field. Radiofrequency (RF) components are used to transmit or receive radio signals between two devices through several market components. These are the basic components needed by any communications system to function properly.
Sizing and Forecast
The RF components market size has grown rapidly in recent years. It will grow from $31.02 billion in 2023 to $36.11 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to wireless communication proliferation, mobile device boom, consumer electronics growth, increased military and defense applications, growth of telecommunication networks.
The RF components market size is expected to see rapid growth in the next few years. It will grow to $67.65 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to space exploration and satellite communication, connected and autonomous vehicles, smart manufacturing, supply chain challenges, semiconductor shortages. Major trends in the forecast period include RF front-end modules, AI and machine learning in RF design, quantum communication, RF MEMS (micro-electro-mechanical systems), mmWave technology.
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Segmentation & Regional Insights
The RF components market covered in this report is segmented –
1) By Component Type: Power Amplifier, Antenna, Switches, Multiplexer, Filter, Modulator and demodulator, Transistors and diodes, Other Components
2) By Material: Indium Phosphide, Nitride, Silicon, Gallium Arsenide
3) By Application: Consumer Electronics, Automotive, Military, Wireless Communication, Other Applications
4) By End User: Commercial, Residential
North America was the largest region in the RF components market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rf components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing penetration of robots is significantly driving the growth of the RF components market. The penetration of robots helps in rapid industrial automation. Robots leverage wireless communication for easy and rapid information transmission. For wireless communication applications, various RF components such as RF transistors, amplifiers, diodes, and filters are integrated into industrial robots. This will create a huge demand for RF components. For instance, according to the International Federation of Robots’ World Robotics 2021 report, a Germany-based non-profit organization, 3 million industrial robots were operating in companies around the world in 2021, a 10% increase over the previous year. Similarly, global robot installations are expected to rebound substantially, increasing by 13% to 435,000 units in 2021. Hence, the increasing penetration of robots is expected to propel the growth of the RF components market over the coming years
Key Industry Players
Major companies operating in the RF components market report are Mitsubishi Electric Corporation, Taiwan Semiconductor Manufacturing Company Limited, Raytheon Technologies Corporation, MicroWave Technology Inc., Panasonic Corporation, Sumitomo Electric Industries Ltd., Arrow Electronics Inc., Fujitsu Limited, Broadcom Inc., Toshiba Corporation, Thales Group, Texas Instruments Incorporated, Murata Manufacturing Co Ltd., TDK Corporation, Infineon Technologies AG, STMicroelectronics N.V., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, Microchip Technology Inc., Skyworks Solutions Inc., Qorvo Inc., ROHM Co Ltd., Cobham Limited, MACOM Technology Solutions Holdings Inc., API Technologies Corp, Astra Microwave Products Limited, RFHIC Corporation, Cree Inc., RFaxis Inc., Vectrawave Corporation, Hybrid Electronics, Satellink Inc., Conard Corp, NuWaves RF Solutions, Coilcraft Inc.
The rf components market report table of contents includes:
Executive Summary
Market Characteristics
Market Trends And Strategies
Impact Of COVID-19
Market Size And Growth
Segmentation
Regional And Country Analysis
……
Competitive Landscape And Company Profiles
Key Mergers And Acquisitions
Future Outlook and Potential Analysis
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