The global MMIC market was valued at USD 9.7billion in 2022 and is projected to reach USD 17.0billion by 2027, growing at a CAGR of 11.9% during the forecast period from 2022 to 2027. The key factors driving the growth of the MMIC market include increased demand for MMICs from the smartphone industry, the adoption of E band to meet the growing bandwidth requirements of cellular and wireless networks, increased defense spending of countries for the upgrade of their defense inventories, and the growing adoption of next-generation warfare techniques.
The impact of COVID-19 on the overall MMIC market has been varied up until now. COVID-19 has severely impacted the supply chain of consumer electronics, mobile devices, computers, and other electronic devices which are the leading application industries of the MMIC market. Months of lockdowns and suspension of manufacturing operations have further hampered economic growth and upended the global semiconductor industry and created a major chip shortage, affecting automobiles, computers, and other industries worldwide. This shortage comes with an opportunity for investments and the emergence of new players in the semiconductor industry.
Smartphones applications in consumer/enterprise electronics segment to account for the largest market share in MMIC market during the forecast period
The market for smartphonesis growing rapidly and is expected to show significant growth over the coming years owing to the rising trend of e-Commerce and m-Commerce, particularly among the working population. Growing Internet penetration, increasing marketing activities by smartphone vendors, and rising subscriptions in social media are some of the key factors driving global smartphone sales. The increasing number of smartphones is expected to boost the MMIC market globally.
China to account for the largest share of MMIC market in Asia Pacific during the forecast period
The MMIC market in the China holds the largest market share and is expected to retain its position during the forecast period as China is a global manufacturing hub with a flourishing electronics industry and one of the fastest-growing economies in the world. It also has the second-largest budget for R&D activities in the world and invests ~2% of its GDP in R&D activities. The increase in industrial automation in China and “Made in China 2025” initiative, started by the Chinese government in 2015is fueling the demand for microwave devices in the country.
US to account for the largest share of MMIC market in North America during the forecast period
The MMIC market in the US holds the largest market share and is expected to retain its position during the forecast period due to the presence of top MMIC manufacturers such as Analog Devices (US), MACOM (US), Skyworks Solutions (US), and Qorvo (US).
Breakdown ofprimary participants:
- By Company Type: Tier 1 = 38%, Tier 2 = 28%, and Tier 3 = 34%
- By Designation: C-Level Executives = 40%, Directors = 30%, and Others = 30%
- By Region: North America = 35%, Europe = 20%,APAC = 35%, and RoW = 10%
Some of the key companies in the MMIC market are Analog Devices, Inc. (US), NXP Semiconductors N.V. (Netherlands), MACOM Technology Solutions Holdings, Inc. (US), Qorvo, Inc. (US), Skyworks Solutions, inc. (US), Infineon Technologies AG (Germany), Mini-Circuits (US), OMMIC (France), WIN Semiconductors Corp. (Taiwan), United Monolithic Semiconductors (UMS) (France), ON Semiconductor Corporation (onsemi) (US), Microarray Technologies Corporation Limited (China), VectraWave (France), BeRex Co., Ltd. (South Korea), Wolfspeed, Inc. (US), MicroWave Technology, Inc. (MwT) (US), ASB Inc. (South Korea), Texas Instruments (US), Northrop Grumman Corporation (US), Toshiba Infrastructure Systems and Solutions Corporation (Japan), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Sumitomo Electric Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), and Arralis (Ireland) are the major players operating in the MMIC market.
In this report,the MMIC markethas been segmented on the basis ofcomponent, material type, technology, Frequency band, application, and geography.The report also discussesthe drivers, restraints, opportunities, and challengespertaining to the market. It gives a detailed view of the market across four main regions?North America, Europe, APAC, and RoW. Valuechainanalysis has been included in the report, along with the key players and their competitive analysis in the MMICecosystem.
Key Benefits to Buy the Report:
- This report includes statistics for the MMICmarketbased oncomponent, material type, technology, Frequency band, application, and geography,along with their respective market sizes.
- Valuechain analysis andkey industry trends have been providedfor the market.
- Major drivers, restraints, opportunities, and challenges for the MMICmarkethave been provided in detail in this report.
- This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the market.
- The competitive landscape section includes the competitor ecosystem and the recent development strategies adopted by the key players in the market,such as product launches/developments, contracts/collaborations/agreements/acquisitions.