Radio Frequency Integrated Circuit Market Major Players Analysis and Forecast to 2023

The global Radio Frequency Integrated Circuit Market is expected to grow at a CAGR of 10.4% during the forecast period.

RFIC is a chip which transmits and receives radio waves. These chips are used in portable devices such as cellphones, Wi-Fi devices, wireless routers, wireless base stations, telephones, satellite transceivers and microwave equipment. Usually, the smartphones have more than one radios that handle cellular voice and data, GPS and Wi-Fi. Most of these radios contain RFICs. Radio Frequency Integrated Circuit Market are largely used in electronic devices that perform functions such as amplification, frequency conversion, and signal filtering. Among the vertical segments – consumer electronics, automotive, government and defense, and others; the market for consumer electronics segment is expected to have highest market share throughout the forecast period. The RFIC chips also have a potential market in the automotive industry. The vehicle-to-vehicle connection, security technologies and automated driving technology, all comprise of RFIC based electronic devices. The concept of autonomous vehicles, such as smart cars, connected cars and driverless cars is gaining ground and thus, the application of RFIC is expected to grow in the future. The automotive segment is expected to grow with the highest CAGR.

Among the application segments, the power amplifiers, wifi and transceivers are expected to be the top three revenue-generating segments. The market size of these segments is high as the adoption of wireless devices is increasing globally. The smartphones and tablets make use of the tranceivers and power amplifiers which contain RFICs. With the increasing usage of smartphones and tablets, the RFIC market is also bound to increase steadily in the forecast period.

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The major factors that contribute the market growth is the high adoption of Internet of Things (IoT). The IoT adoption rate is speedy in the developed countries such as US, UK, Japan and it is increasing in the developing countries such as China, India. This adoption is expected to fuel the growth of the RFIC market in the future. Another trend observed is the increasing deployment of next-generation Long-Term Evolution (LTE) wireless networks. The increasing penetration of LTE networks globally has forced the semiconductor and electronic device manufacturers to integrate more number of RFICs.

Key Players

The key players in the RFIC market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are— Qualcomm Technologies Inc. (US), Cree, Inc. (US), Silicon Laboratories (US), Infineon Technologies AG (Germany), STMicroelectronics (Switzerland), Qorvo, Inc. (US), OctoTech Inc. (US), Peak RF (UK), Skyworks Solutions Inc. (US), Analog Devices, Inc. (US), NXP Semiconductors (US), Broadcom Inc. (US). The key strategies adopted by most of the players are partnerships and agreements, collaborations, and new product releases.

Apart from the companies mentioned above, other companies from APAC are the key players in this market. These include Samsung Electronics Co (South Korea), Renesas Electronics Corporation (Japan), Kangxi Communication Technology Co. Ltd. (China) and others. These companies have a strong customer base and also have global presence.

Segmentation

The global RFIC market is segmented into application, vertical, and region/country.

By application, the global RFIC is segmented into power amplifier, transceiver, wireless USB, Bluetooth, Wi-Fi, Wi-max, ZigBee, Global Positioning System (GPS), Near-field communication (NFC), radio frequency microelectromechanical system (RF Mems), and others.

By vertical, the global RFIC is segmented into consumer electronics, automotive, government and defense, and others.

By region, the global RFIC market is segmented into North America, Europe, Asia-Pacific, and rest of the world.

Regional analysis

The global market for RFIC is expected to grow at a CAGR of 10.4% during the forecast period. The geographical analysis of RFIC market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).

Among the regions mentioned, North America is anticipated to have the largest market share during the forecast period. The US occupies nearly 80%-85% share in the North American region as most of the leading vendors are headquartered here with strong customer base. The market size of APAC is estimated to grow at the highest CAGR from 2019-2023, followed by Europe. Various manufacturers are set up in Japan and China which boost the APAC market share. In the past few years, the RFIC market has experienced a high growth. China is expected to grow at the highest CAGR in APAC region while Japan is projected to show single digit growth rate during the forecast period.

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