Global Radio Frequency Components Market is valued approximately USD 26.87 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 14.20% over the forecast period 2022-2029. Communication tools with built-in connectivity to the electromagnetic spectrum linked to radio wave propagation are known as radio frequency components. These parts are frequently utilised for communication. The ongoing shift from 2G, LTE-Advanced, 3G to 4G/LTE, LTE-Advanced Pro, and 5G, along with ongoing developments and advancements in mobile handset technology, have increased the demand for mobile devices with the highest possible power efficiency and spectrum range. Consequently, it is anticipated that during the forecast period, demand for radio frequency (RF) components will increase. Along with this, rising demand for computer connectivity is also driving the growth for the market over the forecast period.
For instance, between 2018 and 2021, the retail sales of consumer electronics (CE) in the US market grew steadily. According to Statista, retail sales of consumer electronics in the United States would total 505 billion dollars by 2022. The consumer electronics industry’s top-selling items in terms of retail sales were smartphones. Along with this, as mentioned above the demand for connected devices is rising which is driving the growth for the market over the forecast period 2022-2029. For example, there are 51% of UK households with Internet Connected Smart TVs. Followed by Smart speakers being deployed in 22% of households. The internet connected Smart TV has been increasing in percentage as in 2014 the penetration percentage of smart TVs in UK households were only 11% and this has increased up to 50% in 2020. Thus, significant growth has been witnessed in the market revenue. Moreover, the rising number of radio frequency components application is creating lucrative growth opportunity for the market over the forecast period. However, the high cost of Radio Frequency Components stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Radio Frequency Components Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. With the biggest largest share in 2021 and the region growth with fastest growth rate over the projection period, is Asia Pacific was the leading regional market. The rise in demand for radio frequency components in consumer electronics applications is attributed to the growth. Power amplifiers and duplexers are being used in an increasing number of gadgets, including computers, tablets, and mobile phones. For frequency up and down conversion, radio frequency components are utilised. In order to be used in GSM, the radio frequency down converter transforms the radio frequency signal into a baseband signal.
Major market player included in this report are:
Analog Devices Inc.
International Quantum Epitaxy Plc
NXP Semiconductors N.V.
Renesas Electronics Corporation
Murata Manufacturing Co. Limited
Taiwan Semiconductor Manufacturing Co. Limited
Texas Instruments, Inc.
Recent Developments in the Market:
? In October 2022, MaxLinear a company based in the United States has started a partnership with RFHIC for the development of radio frequency components for microwave.
Global Radio Frequency Components Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Modulators & Demodulators
Rest of the World