Radio Frequency Integrated Circuit (RFIC) Market

2021 Analysis and Review: Radio Frequency Integrated Circuit Market by Product - RF Transceivers IC, RF Amplifiers IC, RF Modulators/Demodulators IC, RF Mixers/Multipliers IC, and RF Switch IC for 2021 – 2031

Radio Frequency Integrated Circuit (RFIC) Market Snapshot

Backed increasing spending on state-of-the-art consumer electronics and smart devices, radio frequency integrated circuit market valuation will surpass US$ 20.7 Bn in 2021. As per Future Market Insights (FMI) analysis, RFIC market will be temporarily exposed to COVID-19 induced uncertainties. With industries charting a steady course of recovery, the market will register 4.9% year on year growth in 2021.

Application in consumer electronics is forecast to rise at an impressive pace. As per RFIC market survey, the industry will account for 29% of demand registered in 2031. Besides this, the demand for application in medical devices will continue rising at 9.4% CAGR between 2021 and 2031.

Key Points Covered Radio Frequency Integrated Circuit (RFIC) Industry Analysis

  • Market estimates and forecast 2016-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Radio Frequency Integrated Circuit Market and how to Navigate
  • Recommendation on Key Winning Strategies

2016-2020 Radio Frequency Integrated Circuit Market Outlook Compared to 2021-2031 Forecast

Surge in adoption of novice and advanced technologies across various applications within the semiconductor industry is likely to drive the market over the coming years. The radio frequency integrated circuit sales will rise at 8.0% CAGR between 2021 and 2031 in comparison above 5.2% CAGR registered during 2016-2020.

Key factors contributing to the growth of radio frequency integrated circuit production is the increasing deployment of next-generation Long-Term Evolution (LTE) wireless networks. The growing penetration of LTE networks globally has forced the electronic devices and semiconductor manufacturers to deploy more number of RFICs.

Another trend observed is the surging adoption of Internet of Things (IoT). The IoT applications are booming in the developed countries such as Japan, U.K., the U.S., and it is rising in the developing countries such as India and Southeast Asia as well. This adoption is expected to fuel the growth of the RFIC market in the future.

Moreover, RFIC is seen as a trending technology in developed economies such as Germany, the U.S., the U.K., and so on. Overall, the global market for radio frequency integrated circuit is projected to fare even better over the coming years.

How Are Advancements in Automotive Industry Impacting Growth?

Connectivity is emerging as a key competitive differentiator in today’s automotive market. The automotive industry is moving towards connected vehicle technologies such as V2I (vehicle-to infrastructure), V2V (vehicle-to-vehicle), V2P (vehicle-to-pedestrian) and V2D (vehicle-to-device).

Automotive manufacturers also are implementing advanced features that include voice control, wireless charging capabilities, back-up cameras and blind-spot awareness, among others.

Automotive OEMs, manufacturers of electronic instruments, telecom service providers and IT service providers are coming together to implement these next-generation technologies with vehicles.

Moreover, it has been observed that several automotive brands are adopting more collaborative ways of working towards innovations in connected car technology. These advancements in the automotive industry are projected to fuel the RFIC products sales.

How is Digital Transformation and Wireless Systems Demand Propelling RFIC Sales?

Businesses and organizations are finding themselves in an increasingly complex network world. As the tides of data continue to rise, businesses must transform through virtualization and automation to optimize the cost and scale of experiences that they want to create. Businesses must also manage mobile devices, apps, and a variety of voice and collaboration tools so that their teams can connect across geographies, platforms, and devices.

A significant increase in the number of smartphone-using population around the world will encourage consumers to adopt 5G-enabled services. Thus, the high approval of advanced applications, such as augmented reality, Internet of Things (IoT), autonomous vehicles, and various other technological enhancements, is likely to fuel the growth of the RFIC market.

Furthermore, the wireless market has experienced remarkable growth and development in past few years owing to the introduction of wireless mobile phone systems. A continuous increase in the number of subscribers and new application areas of wireless technologies has created potential growth opportunities for the RFIC products.

What Is the Impact of COVID-19 Crisis on Radio Frequency Integrated Circuit Demand?

Lockdown imposed across various countries negatively impacted the market. Limited production and transportation-related delays owing to travel restriction created obstacles amid the pandemic.

With the consecutive waves of the novel coronavirus tightening its noose, treatment of other ailments were either affected or delayed. This also had a negative impact on the market.

As COVID-19 affected all technology markets, RFIC is also expected to experience its effects in both, demand and supply. As a result of COVID-19 outbreak, semiconductor industry faced a daunting range of challenges.

The way ahead to recovery planning is to rethink approaches and mainstream COVID-19 response into development planning across sectors. Hence, the manufacturers are facing constant downward pressure on revenues and demand due to the COVID-19 pandemic.

The impact of pandemic on supply chains has also delayed the implementation of 5G technology on a short-term basis. However, some of the key players are majorly focusing on research and development to provide innovative products in the market, thereby, creating growth avenues for radio frequency integrated circuits.

The recent COVID-19 outbreak is expected to have an impact on the growth of the various end-user industries (excluding the pharmaceutical industry) in the short term.

However, the impact is temporary, and the RFIC market is anticipated to show considerable growth during the forecast period.

Country-wise Insights

Will U.S. Remain a Leading Radio Frequency Integrated Circuit Market?

North America is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. According to the study, the U.S. is expected to account for over 74% of the North America market through 2031.

Various RFIC manufacturing companies in the U.S., are focusing on acquiring contracts with science and technology entities to meet the growing demand for advanced features in RFICs.

Moreover, multiple RFIC manufacturers in the country derive a significant portion of their revenue from the consumer electronics segment. Furthermore, the demand for RFIC for communication, television and radio broadcasting is increasing continuously in the U.S.

  • For instance, in March 2018, QUALCOMM Incorporated entered into partnership with Huawei Technologies Co., Ltd., a Chinese multinational networking, telecommunications equipment and services provider. The primary objective of this partnership was to develop advanced wireless technologies.

Why is Demand for Radio Frequency Integrated Circuit Increasing in the U.K.?

Demand in the U.K. market is expected to rise at nearly 8.0% CAGR over the forecast period. Currently, with the development of information technology and advanced manufacturing technology, modern manufacturing industries have changed significantly to match the global competition. The adoption of connected consumer electronic devices throughout U.K. is driving the RFIC product demand in the country.

RFICs are widely used in connected consumer electronic devices for wireless connectivity and Bluetooth connectivity. In the past few years, it has been observed that consumer interest in connected devices with advanced technologies has increased across U.K.

Moreover, service providers and OEMs are introducing new offerings and new value propositions with connected devices. These are some of the key factors contributing to the expected growth of the U.K. RFIC market over the forecast period.

As per FMI analysis, the U.K. is recognized as a primary market, and it is expected to continue exhibiting high demand for radio frequency integrated circuit (RFIC) through the forecast period.

What are Factors driving Radio Frequency Integrated Circuit Demand in GCC Countries?

GCC Countries are among most exciting and potentially dynamic markets in the world, increasingly capturing the attention of the world’s largest businesses. The market in GCC countries is expected to register a noteworthy growth of 13.2% CAGR with regards to radio frequency integrated circuit sales within Middle East region.

The aerospace and defense sectors are playing an important role in driving the RFIC market in the GCC countries. Rugged RFICs are used in the aerospace and defense sector to operate in harsh environment and deliver high-transmission capabilities with high efficiency.

An increase in the number of communication satellites and telecom base stations are established in corresponding sectors. This is fueling the growth of the RFIC sales in GCC countries.

Which Factors are boosting the Radio Frequency Integrated Circuit Sales in China?

By 2031, China is estimated to account for over 43% sales for RFIC products in the East Asia market. RFICs are used in various industrial applications, such as industrial motion control, factory automation and connected systems.

The continuous development of industrial infrastructure and the demand for automation in manufacturing processes have increased continuously in the last few years in China. The country is continuously moving towards rapid digitalization, which is creating ideal conditions for manufacturing, automation & software-based embedded systems. This is generating potential opportunities for the growth of the RFIC products.

Category-wise Insights

Why the Demand for RF Switch IC Continuously Rising?

Based on product, RF switch IC is the leading segment, accounting for more than 31% of the market in 2021. The need for RF switch ICs is due to the increasing demand for wireless communications at higher frequencies and wider bandwidths.

The use of RF switch IC offers the ability to combine higher frequencies and wider bandwidths with the integration of multiple RF interfaces and antennas. Thus, allowing for the demand for wireless communications to be met as well as improve their capabilities, functionality, and advancement in the field of wireless communications as a whole. These factors are estimated to augment the sales for RF switch IC in the coming years.

Why Does Consumer Electronics Segment Hold Major Share in Global Radio Frequency Integrated Circuit Market?

The consumer electronics segment is expected to contribute maximum revenue share of 29.0% in the global radio frequency integrated circuit sales. Radio Frequency Integrated Circuits are used in various consumer electronic devices, such as laptops, personal desktops and data communication systems, to improve efficiency and for high-frequency rectification.

The RFIC market is witnessing rapid growth due to an increase in the number of consumer electronic devices in various countries of the world. Increase in the number of internet users and telecommunication devices in various countries, such as China, India, Brazil and Japan, are factors that are creating opportunities for RFIC product demand.

As the cellular industry moves to next-generation networks like 5G, GPS radio ICs will become even more prevalent. Hence, the growth of wireless devices will only hasten the development of new RFIC technologies and products.

Competitive Landscape

Companies offering wide range of radio frequency integrated circuits are aiming at strategic collaborations and strategic partnerships with other manufacturers to expand their product offerings and address the demand of an expanding customer pool.

  • In January 2021, Samsung Electronics announced its latest 5G advancement with the recent rollout of the company’s vRAN 2.0 solutions, the first fully-virtualized commercial 5G RAN delivered end-to-end from a single vendor. This will help create more programmable networks that dynamically and efficiently provide the appropriate network resources to customers who use a variety of advanced wireless services and applications.
  • For instance, in October 2020, STMicroelectronics acquired Power Amplifier and RF Front-End-Module Specialist SOMOS Semiconductor. With this acquisition, ST reinforces its specialist staff, IP and roadmaps of front-end modules for the IoT and 5G markets.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value, Units for Volume

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, GCC Countries, Turkey, and South Africa

Key Segments Covered

Product, Application, and Region

Key Companies Profiled

  • Infineon Technologies AG
  • Analog Devices, Inc.
  • Texas Instruments
  • NXP Semiconductors
  • STMicroelectronics
  • Renesas Electronics
  • Microchip Technology Inc.
  • Silicon Labs
  • Skyworks Solutions, Inc.
  • Samsung
  • Broadcom, Inc.
  • Cypress Semiconductor
  • AnSem N.V.
  • Maxim Integrated
  • Murata Manufacturing Co., Ltd.

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in Radio Frequency Integrated Circuit Market Study

  • How much is the radio frequency integrated circuit (RFIC) market worth?

    The radio frequency integrated circuit (RFIC) market will surpass a valuation of US$ 20.7 Bn in 2021, and is estimated to grow at a steady pace.

  • What will be the demand outlook for radio frequency integrated circuit (RFIC) market?

    The radio frequency integrated circuit (RFIC) market is expected to reach US$ 45.0 Bn by 2031. It is projected to rise at 8% CAGR between 2021 and 2031.

  • What was the last 5 year radio frequency integrated circuit market CAGR?

    The radio frequency integrated circuit market grew at a CAGR of 5.2% between 2016 and 2020.

  • What are the key trends prevailing in radio frequency integrated circuit (RFIC) market?

    Key trends prevailing in the market are:

    • Demand of Wireless Products and Connected Devices
    • Rise in adoption of 5G Technology to drive RFIC product sales
    • Government Initiatives to Promote the Manufacturing Sector
    • Advanced Packaging Technologies for RFIC
  • What are the factors driving demand for radio frequency integrated circuit (RFIC)?

    Factors contributing to the growth of radio frequency integrated circuit (RFIC) production is increase in the number of consumer electronic devices and telecommunication services and advancements in the automotive industry ecosystem for vehicle-to-everything (V2X) communications.

  • What is the market share of top 5 players in radio frequency integrated circuit market?

    The top 5 market players are Microchip Technology Inc., Samsung Electronics, NXP Semiconductors, Texas Instruments, and Renesas Electronics Corporation. These companies are emerged dominant in the market with a collective market share of 53.3%, for the year 2020.

  • What are the top 5 countries driving radio frequency integrated circuit demand?

    Top 5 countries driving demand for radio frequency integrated circuit (RFIC) include the U.S., U.K., Germany, China, and India.

  • What is the North America radio frequency integrated circuit market outlook?

    North America is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. According to the study, the U.S. is expected to account for over 74% of the North America market through 2031.

  • At what percentage will radio frequency integrated circuit (RFIC) market register growth in Europe?

    The Europe market is expected to register a steady growth at a CAGR of 6.0% during the forecast period.

  • Which countries are key manufacturers of radio frequency integrated circuit (RFIC)?

    The key manufacturing countries of RFICs are U.S., Japan, South Korea, and Germany.

  • What is the radio frequency integrated circuit market statistics in South Korea and Japan?

    The RFIC market in Japan and South Korea was valued at US$ 1,167.2 Mn and US$ 677.7 Mn in 2020, respectively and is projected to register CAGR of 12.3% and 10.0% respectively between 2021 and 2031.

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Radio Frequency Integrated Circuit Market by Category

By Product

  • RF Transceivers IC
  • RF Amplifiers IC
  • RF Modulators/Demodulators IC
  • RF Mixers/Multipliers IC
  • RF Switch IC
  • Others

By Application

  • Consumer Electronics
  • Telecommunication
  • Automotive
  • Media & Broadcasting
  • Medical Devices
  • Industrial Electronics
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

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