RF Semiconductor Market

RF Semiconductor Market Research, 2031

The global RF semiconductor market was valued at $18.9 billion in 2021, and is projected to reach $39.6 billion by 2031, growing at a CAGR of 8.4% from 2022 to 2031.

RF, or radio frequency, is a measurement technique used to determine the vibrational rate of electromagnetic waves. The frequencies of the electromagnetic waves range from 300 GHz to 9 kHz. Radio waves are mainly used for wireless communication using antennas and transmitters. An RF semiconductor is a device used as a switch or rectifier in power electronics for wireless communication. The RF semiconductor market includes devices such as RF power amplifiers, RF filters, RF switches, and low noise amplifiers. RF devices are made from materials such as silicon, silicon germanium, gallium arsenide, gallium nitride, and indium phosphide.  

RF semiconductor devices are widely used in cellular and wireless infrastructure. The increase in use of smartphones has increased people's interest in using social media and the Internet. There is a rise in the demand for high-speed mobile broadband internet with the increase in the need for higher data rates and greater spectral efficiency. Therefore, the use of the Internet has led to a rapid increase in Long Term Evolution (LTE). In addition, RF power devices are also used in lighting applications, the development of smart cities around the world, and recent technological developments such as increasing power density up to 1000 watts and decreasing RF power is the reason for the growth of the RF semiconductor market today.  

The increase in adoption of effective management solutions in the energy industry is attracting many vendors to their industry-focused product innovations. This further expands the range of applications for high-frequency power semiconductor components. For example, Cadence Design Systems, Inc. announced that it has enhanced the Cadence Voltus IC Power Integrity Solution with a largely parallel (XP) algorithm option that employs distributed processing technology for power grid deregistration with advanced node processing technology.   

Additionally, RF power semiconductors are utilized in a wide range of fields, including marine, military, aerospace, energy, medical, and air traffic control systems. They also have numerous applications in consumer electronics, aerospace, automotive, telecommunication, and data communication, boosting market expansion further. To meet the growing demand in the industry, the major market players have been introducing new products to the market, which will increase competition. For instance, Skyworks Solutions, Inc. introduced the SKYH22001 and SKY22002 RF power amplifiers in July 2019 for use in aerospace and defense applications.  

The outbreak of the COVID-19 pandemic has significantly affected the RF semiconductor market. As governments in several countries impose and extend lockdowns, production and manufacturing facilities around the world are shut down due to crisis and labor shortages. Considering the input of various industry experts at various stages of the value chain such as OEMs, suppliers, integrators, end users, and distributors, as well as the economic output of various companies in the RF semiconductor ecosystem, the market is estimated to have experienced a decline in 2019- 2020. In addition, the pandemic outbreak disrupted the global supply chain and thus created a significant gap in the supply chain. The financial impact of the pandemic was devastating. The major players in the RF semiconductor industry were temporarily in decline due to a lack of skilled specialists to develop RF semiconductor management solutions, which led to a decrease in turnover in the 2020-2021 financial year. However, the market is expected to recover after 2021 and will remain in the growth phase during the forecast period.

The RF semiconductor market is segmented into Product Type and Application.

By product type, the market is segmented into RF power amplifiers, RF switches, RF filters, RF duplexers, and other RF devices. The RF filter segment is the highest revenue contributor to the market.

By application, the market is categorized into telecommunication, consumer electronics, automotive, aerospace & defense, healthcare, and others. The consumer electronics segment is the highest revenue contributor to the market.

Region-wise, the RF semiconductor market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and the rest of Europe), Asia-Pacific China, Japan, India, South Korea, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Major organizations and government institutions in the country are intensely putting resources into this industry.  

Country-wise, the U.S. acquired a prime share in the RF semiconductor market forecast in the North American region and is expected to grow at a significant CAGR during the forecast period of 2019-2031. The U.S., holds a dominant position in the RF semiconductor market size, owing to the rise in investment by prime vendors to boost the RF semiconductor for consumer electronics and IT & telecom applications. 

In Europe, the UK, dominated the RF semiconductor market share, in terms of revenue, in 2021 and is expected to follow the same trend during the forecast period. However, Germany is expected to emerge as the fastest-growing country in Europe's RF semiconductor with a notable CAGR, due to advancement in the automotive industry which drives the usage of microelectronics in the country and thus creates lucrative growth opportunities for the RF semiconductor market in Germany.  

In Asia-Pacific, the rest of Asia-Pacific is expected to emerge as a significant market for the RF semiconductor industry, owing to new product developments and a significant rise in investment by prime players and government institutions.  

In LAMEA region, the Latin America country garner significant market share in 2021 due to the adoption of new technologies, digital transformation and connectivity are reshaping the future of automotive and the consumer electronics industry in Latin America. Moreover, the Middle East region is expected to grow at a significant CAGR from 2022 to 2031, owing to shifts in artificial intelligence, industry 4.0, and smart technological changes in recent years, which is expected to reshape the growth of the RF semiconductor in the Middle East.

TOP IMPACTING FACTORS 

The major factors driving the RF Semiconductor market growth are the rapid development of 5G technology and the rapid adoption of IoT technology has increased the need for robust network capacity and has developed the RF semiconductor market. On the other hand, the use of alternative materials such as gallium arsenide or gallium nitride improves device efficiency but also increases the cost of RF devices which is restraining the market growth during the anticipated period. Furthermore, the increased use of RF energy in the number of smart city projects in various countries around the world is creating the RF Semiconductor market opportunity.   

COMPETITIVE ANALYSIS 

The global RF semiconductor market is highly competitive, owing to the strong presence of existing vendors. Vendors of the RF semiconductor market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to increase as technological innovations, product extensions, and different strategies adopted by key vendors increase.  

KEY DEVELOPMENTS/ STRATEGIES  

Analog Devices Inc., Microchip Technology Inc., MACOM Technology, NXP Semiconductors, Qorvo, Inc., Qualcomm Incorporated, Texas Instruments Inc., Toshiba Electronic Devices & Storage Corporation, TDK Electronics, and Teledyne Technologies Inc. are the key players of the RF semiconductor market. Top market players have adopted various strategies, such as acquisition, agreement, business development, business expansion, collaboration, product launch, innovation, and product expansion to expand their foothold in the RF semiconductor market. 

• In February 2021- Qualcomm Technologies, Inc. launched the next generation of Qualcomm RF Front End (RFFE) solutions for high-performance 5G mobile devices. The solutions are designed to support advanced performance and power-efficiency capabilities in the newly announced Qualcomm Snapdragon X65 and X62 5G Modem-RF Systems – bringing together modem, RF transceiver, RF front-end components with artificial intelligence (AI) assistance, and mm Wave antenna modules to enable OEMs to design premium 5G devices. 

• In October 2021 - Qualcomm Technologies, Inc., launched Qualcomm ultraBAW RF filter technology for bands up to 7 GHz, another innovation that builds on the company’s modem-to-antenna solution that is driving high-performance 5G and connectivity systems across wireless product segments. 

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the RF semiconductor market analysis from 2021 to 2031 to identify the prevailing RF semiconductor market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the RF semiconductor market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes an analysis of the regional as well as global RF semiconductor market outlook, key players, market segments, application areas, and market growth strategies.

 RF Semiconductor Market Report Highlights