RF Power Semiconductor Market Size, Share, Opportunities, And Trends By Product (RF Passives, RF Duplexers, RF Switches, Other), By Material (Silicon, Gallium Arsenide, Silicon Germanium, Gallium Nitride, Silicon Carbide, Indium Phosphide), By Application (Aerospace & Defense, Automotive, Medical, Consumer, Telecommunication And Data Communication, Other), And By Geography - Forecasts From 2024 To 2029
- Published : Sep 2024
- Report Code : KSI061612657
- Pages : 118
The RF power semiconductor market is projected to grow at a CAGR of 8.52% to reach US$36.002 billion by 2029, from US$23.922 billion in 2024.
RF or Radio Frequency is a measurement technique that is used to ascertain the oscillation rate of electromagnetic radio waves. The frequency of electromagnetic radio waves ranges from 300 GHz to as low as 9 kHz. The radio waves are used mainly for wireless communication with the use of antennas and transmitters. The radio-frequency power semiconductor is a device that is used as a switch or rectifier in power electronics for wireless communication.
Additionally, the gallium arsenide material is expected to hold a dominant market share of RF power semiconductors due to its wide use in smartphone RF components. It has high thermal stability and electron mobility, with low noise which has caused to rise in its popularity in the market. Further, the end-user industries such as automotive, consumer electronics, aerospace, and defense will witness a rise in the utilization of RF power semiconductors for multiple purposes.
Further, the rising employment of 5G technology and the rising demand for wireless networks will contribute to the market expansion in the coming years. However, the high cost of production with a low profit margin could discourage companies from exploring RF power semiconductor technology which could restrain the market.
What are the RF power semiconductor market growth drivers?
- Increasing employment of wireless networks to boost the demand for RF power semiconductors globally.
The prime factor that drives the global market of RF power semiconductor devices includes the wide employment of wireless networks such as long-term evolution (LTE) and 5G across computing devices.
Apart from this, the increasing use of electronic devices such as tablets and smartphones and the intensive adoption of RF power in lighting applications also stimulate the global growth of the market significantly.
Moreover, RF power semiconductors are extensively utilized in cellular and mobile phone applications and these RF devices are fundamental components in all base stations for cellular and mobile wireless infrastructure, which will contribute to fuelling the market expansion in the coming years. According to Techjury data on IoT insights of 2023, IoT gadgets are anticipated to account for 14.4 billion by 2023 globally, with 27 billion associated by 2025, which will further grow the amount to 25.4 billion IoT devices by 2025. Over 400 dynamic IoT platforms are in utilization, and 5G innovation is anticipated to increment IoT with 1.3 billion memberships by 2023. The rapidly increasing requirement for cellular and mobile wireless will positively impact to the market growth.
- Expanding utilization in various end-user industries is expected to bolster the RF power semiconductor market.
Moreover, RF power semiconductors are used in various applications such as air traffic control systems, marine, military, aerospace, energy, and medical. Furthermore, they have wide applications in consumer electronics, aerospace, automotive, telecommunication, and data communication applications, which will further bolster the market growth with the advancement of technology in these sectors. Along with the key market players launching new products in the market for different sectors to fulfill their increasing demand which will further create competitiveness in the market, leading to market expansion.
According to the report of the All-India Association of Industries, the aerospace and defense sector of the country is estimated to rise approximately US$70 billion by 2030. The rise in requirement for commercial and military machinery such as radar systems and communication equipment will contribute to a rise in the necessity of RF power semiconductors in varied applications during the projected period.
Moreover, consumer electronics also utilizes RF power semiconductors in devices such as smartphones, wearables, and tablets for RF connectivity, which will promote the market. According to an ITA report, in 2023, Brazil's device market contributed 43.7% of all IT-based revenue, with an evaluated total of $21.5bn. Although with the moderate increase, the market's importance is noteworthy, with smartphones reaching US$13 billion, computers at US$5.8 billion, wearables at US$882 million, printers at US$542 million, and tablets at US$464 million in 2023.
Furthermore, RF power semiconductors have a significant role in the advanced features used in automobiles like advanced driver assistance systems and vehicle-to-vehicle (V2V) communication solutions which is growing due to an increase in consumers' attraction to these technologies in autonomous vehicles. According to ACEA data of May 2023, the worldwide production of motor vehicles in 2022 accounted for 85.4 million, which is an increment of 5.7% from last year. Moreover, all the regions witnessed a rise, the highest vehicle production was in China about 27,222 thousand units, followed by Europe being 16,391 thousand units and North America valued at 14,901 thousand units of vehicle production in 2022.
- Rising 5G technology worldwide is expected to accelerate the RF power semiconductor market globally.
The rapidly evolving 5G technology globally is majorly impacting the RF power semiconductor market expansion in the coming years. The Ericsson Mobility Report of November 2023 predicts a 63% increment in new 5G memberships which is around 610 million new 5G subscriptions from 2022, coming to 1.6 billion in total, a 100 million growth from 2022. By the end of 2029, worldwide 5G subscriptions are anticipated to account for 5.3 billion, with 85% of the worldwide population predicted to have access to 5G coverage. These statistics show a rise in 5G connectivity which will drive market growth during the forecast period.
Further, 5G networks offer quicker data speeds and capacity than previous generations, necessitating high-power RF components for information transmission and receiving. These systems are vital for IoT devices and smart cities, requiring RF power semiconductors for wireless networks and data transmission in the world.
Major challenges hindering the growth of the RF power semiconductor market
- The high cost of production and lower profit margin could hinder the RF power semiconductor market growth.
The installation of RF power semiconductor systems necessitates substantial initial investments and can be a critical obstruction for small and medium enterprises businesses as well as startups due to the high cost of production equipment, and installation. Furthermore, the operational costs, such as energy utilization, maintenance, and skilled labor necessities. Further, this causes a rise in the cost of RF devices and fewer profit margins for RF device suppliers which could hinder market expansion during the forecast period. Since the profit margins associated with these semiconductors are low the supplier may not actively trade in them which may further restrain the market expansion.
What are the emerging markets for RF power semiconductors globally?
- The Asia Pacific region is predicted to hold a significant RF power semiconductor share.
Asia Pacific will be the fastest-growing region owing to the increasing penetration of the 5G network, especially in countries such as Japan, India, and China. Moreover, the rapid urbanization and industrialization such as the consumer electronics industry, and automotive industry in the region will promote the requirement for high-speed connectivity fuelling the demand for RF power semiconductors. The major regional players developing new products are also influencing the region's market expansion.
For instance, in February 2024, Mitsubishi Electric planned to release a prototype of its 6.5W silicon RF high-power MOSFET for commercial handheld two-way radios. This sample, which accomplishes an industry-leading 6.5W yield power from a 3.6V single-cell lithium-ion battery, is anticipated to expand the range and decrease power utilization of commercial radio hardware. The commercial radio industry is anticipated to design higher-power items utilizing these batteries, which are less costly than traditional 7.2V batteries.
Recent developments in the RF power semiconductor market:
- August 2023- MACOM Technology Solutions Holdings announced an agreement to acquire the radio frequency (RF) business of Wolfspeed, Inc. The RF Business, which incorporates a portfolio of GaN on Silicon Carbide items utilized in high-performance RF and microwave usages, works as a large customer base in defense, industrial, aerospace, and telecommunications divisions. The securing is anticipated to promptly accretive to MACOM's non-GAAP profit.
- July 2022- Mitsubishi Electric announced the plan to launch a 50W silicon RF high-power MOSFET module for commercial two-way radios. The module, which provides a 40 percent overall productivity, is anticipated to grow the radio communication range and decrease power utilization. The 50W power yield within the 763MHz to 870MHz band was anticipated to assist the congested 150MHz and 400MHz frequency bands in North America and other markets. The 700MHz band, already utilized for analog TV broadcasting, is further reallocated for commercial two-way radio.
RF Power Semiconductor Market Scope:
Report Metric | Details |
RF Power Semiconductor Market Size in 2024 | US$23.922 billion |
RF Power Semiconductor Market Size in 2029 | US$36.002 billion |
Growth Rate | CAGR of 8.52% |
Study Period | 2019 to 2029 |
Historical Data | 2019 to 2022 |
Base Year | 2024 |
Forecast Period | 2024 – 2029 |
Forecast Unit (Value) | USD Billion |
Segmentation |
|
Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
List of Major Companies in RF Power Semiconductor Market |
|
Customization Scope | Free report customization with purchase |
RF Power Semiconductor market is analyzed into the following segments:
- By Product
- RF Power Amplifiers
- RF Passives
- RF Duplexers
- RF Switches
- Others
- By Material
- Silicon
- Gallium Arsenide
- Silicon-Germanium
- Gallium Nitride
- Silicon Carbide
- Indium Phosphide
- By Application
- Aerospace & Defense
- Automotive
- Medical
- Consumer
- Telecommunication and Data Communication
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- United Kingdom
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- Indonesia
- Taiwan
- Thailand
- Others
- North America
Frequently Asked Questions (FAQs)
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
1.8. Key Benefits for the Stakeholder
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Processes
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. RF POWER SEMICONDUCTOR MARKET, BY PRODUCT
5.1. Introduction
5.2. RF Power Amplifiers
5.3. RF Passives
5.4. RF Duplexers
5.5. RF Switches
5.6. Others
6. RF POWER SEMICONDUCTOR MARKET, BY MATERIAL
6.1. Introduction
6.2. Silicon
6.3. Gallium Arsenide
6.4. Silicon-Germanium
6.5. Gallium Nitride
6.6. Silicon Carbide
6.7. Indium Phosphide
7. RF POWER SEMICONDUCTOR MARKET, BY APPLICATION
7.1. Introduction
7.2. Aerospace & Defense
7.3. Automotive
7.4. Medical
7.5. Consumer
7.6. Telecommunication and Data Communication
7.7. Others
8. RF POWER SEMICONDUCTOR MARKET, BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. By Product
8.2.2. By Material
8.2.3. By Application
8.2.4. By Country
8.2.4.1. USA
8.2.4.2. Canada
8.2.4.3. Mexico
8.3. South America
8.3.1. By Product
8.3.2. By Material
8.3.3. By Application
8.3.4. By Country
8.3.4.1. Brazil
8.3.4.2. Argentina
8.3.4.3. Others
8.4. Europe
8.4.1. By Product
8.4.2. By Material
8.4.3. By Application
8.4.4. By Country
8.4.4.1. United Kingdom
8.4.4.2. Germany
8.4.4.3. France
8.4.4.4. Spain
8.4.4.5. Others
8.5. Middle East and Africa
8.5.1. By Product
8.5.2. By Material
8.5.3. By Application
8.5.4. By Country
8.5.4.1. Saudi Arabia
8.5.4.2. Israel
8.5.4.3. Others
8.6. Asia Pacific
8.6.1. By Product
8.6.2. By Material
8.6.3. By Application
8.6.4. By Country
8.6.4.1. Japan
8.6.4.2. China
8.6.4.3. India
8.6.4.4. Indonesia
8.6.4.5. Taiwan
8.6.4.6. Thailand
8.6.4.7. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Competitive Dashboard
10. COMPANY PROFILES
10.1. MACOM Technology Solutions
10.2. Broadcom Inc
10.3. Qualcomm Technologies, Inc.
10.4. Cree, Inc.
10.5. Toshiba Corporation
10.6. NXP Semiconductors N.V.
10.7. Murata Manufacturing Co., Ltd.
10.8. Skyworks Solutions, Inc.
MACOM Technology Solutions
Broadcom Inc.
Qualcomm Technologies, Inc.
Cree, Inc.
Toshiba Corporation
Murata Manufacturing Co., Ltd.
Skyworks Solutions, Inc.
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