The Monolithic Microwave IC Market was valued at USD 9.7 billion in 2022 and is anticipated to reach USD 17.0 billion by 2027, growing at a CAGR of 11.9% during the forecast period from 2022 to 2027, according to a research report titled "Monolithic Microwave IC Market by Component (Power Amplifiers, LNA, Switches), Material Type (GaAs, InP, GaN), Frequency Band (Ka, S, X), Technology (MESFET, HEMT), Application (Automotive, A&D) and Geography - Global Forecast to 2027". The smartphone industry's increased demand for MMICs, the adoption of E band to meet the expanding bandwidth needs of cellular and wireless networks, increased defence spending by nations to upgrade their defence stockpiles, and the expanding use of next-generation warfare tactics are the main factors propelling the growth of the MMIC market.

During the anticipated period, the Ka band segment will hold the biggest market share for MMICs.

During the projected period, the Ka band segment is anticipated to have the highest market share and growth rate. Due to the Ka band's affordable capacity and extensive applicability in broadband services, it has become the preferred band for many satellite operators. In comparison to other bands, it offers excellent download and upload speeds, low bandwidth costs, and is less congested. Additionally, the global rollout of 5G is anticipated to occur in the Ka band, supporting this market's expansion.

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The MMIC market application for wireless communication infrastructure is anticipated to expand at the greatest CAGR during the anticipated period.

The market segment with the highest CAGR during the projection period is wireless communication infrastructure. Microwave backhaul requirements are met by MMICs. It is anticipated that the rising demand for carrier frequencies to deliver high-quality wireless communication would contribute to the global increase in demand for wireless infrastructure.

North America would hold the second-largest market share for MMICs throughout the anticipated period.

The second-largest market over the predicted period is North America. The North American region is home to significant MMIC market participants like Qorvo, Inc., MACOM Technology Solutions Holdings, Inc., and Skyworks Solutions, Inc. The market in this region has been steadily expanding as a result of the quick acceptance of new technologies including pHEMT, E-pHEMT, and mHEMT as well as the presence of significant MMIC firms. In terms of private equity investments, North America is also in the forefront. Other factors influencing the growth of the MMIC market in North America include rising smartphone adoption, planned 5G infrastructure, ongoing and future space missions, and expanding connected vehicle ecosystem.

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Some of the key companies in the MMIC market are Analog Devices, Inc. (US), NXP Semiconductors N.V. (Netherlands), MACOM Technology Solutions Holdings, Inc. (US), Qorvo, Inc. (US), Skyworks Solutions, inc. (US), Infineon Technologies AG (Germany), Mini-Circuits (US), OMMIC (France), WIN Semiconductors Corp. (Taiwan), United Monolithic Semiconductors (UMS) (France), ON Semiconductor Corporation (onsemi) (US), Microarray Technologies Corporation Limited (China), VectraWave (France), BeRex Co., Ltd. (South Korea), Wolfspeed, Inc. (US), MicroWave Technology, Inc. (MwT) (US), ASB Inc. (South Korea), Texas Instruments (US), Northrop Grumman Corporation (US), Toshiba Infrastructure Systems and Solutions Corporation (Japan), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Sumitomo Electric Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), and Arralis (Ireland) are the major players operating in the MMIC market.

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