Radio Frequency Component (RFC) Market Synopsis:
The global Radio Frequency Component Market is expected to grow from USD ~6 Billion in 2016 to USD~ 16 Billion by 2022, at an estimated CAGR of ~16%.
According to Market Research Future (MRFR), the global radio frequency component market is poised to evaluate at approximately USD 16 BN by 2022, registering a CAGR over 16% throughout the forecast period (2016-2022).
The radio frequency components (RPC) market enable the transmission and identification of frequencies. Radio frequencies are radio signals ranging between 3 KHz to 300 KHz, and components of radio frequency are the building blocks that enable connectivity in various electronic devices that are currently used. RF Components are the essential components required in any communication devices for their functioning. RPC find extensive applications for obtaining a high switching rate, reciprocity, reliability, miniaturization, and weight reduction.
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Over the past couple of years, the radio frequency component market has been witnessing significant growth, mainly due to the growing network of the universal mobile telecommunications system. The demand for switches and tuners is growing continually, due to their supporting feature that provides precise functionality to the other primary RF devices such as power amplifiers and demodulators.
Also, the rapid technological advancements in wireless communication and the increasing adoption of consumer electronics such as smartphones set-top box, and smart television are some of the key driving forces behind the growth of the market.
On the other hand, the growing installed base of the barcode system in several industries and low awareness of radio frequency components are some of the factors expected to obstruct the growth of the market. Also, comparatively higher expenditures as compared to the barcode systems are impeding the growth of the market. Nevertheless, augmenting demand for hi-speed telecommunication technologies would support the growth of the market, increasing the uptake of RFCs.
Players leading the RFC market include Murata Manufacturing Co., Ltd. (Japan), Qorvo Inc. (US), Tsinghua Unigroup (China), Broadcom Limited (US), Skyworks Solutions, Inc. (US), Vectron International, Inc. (US), WIN Semiconductors Corp. (Taiwan), Danaher Corp. (US), and Mitsubishi Electric Corporation (Japan) among others.
June 12, 2019 - Broadcom Inc. (the US), a leading global supplier of a range of semiconductor devices and analog III-V based products announced the renewal of RF Components Supply Agreement with Apple for two years.
As per the deal, Broadcom will provide Apple the required radio-frequency front end components and modules which can be utilized across iPhones, Apple watches, and iPads.
The deal instilled confidence in the stock, evident from a surge of almost 4.1% in the intraday trading.
Radio Frequency Component (RFC) Market – Segments
For a better understanding of the report, the market is segmented into four key dynamics:
By Components: Filters, Amplifiers, and Duplexer, among others.
By Material : Silicon, Gallium Arsenide, Indium Phosphide, and Nitride, among others.
By End-users : Consumer Electronics, Wireless Communication, and Military, among others.
By Regions : Europe, North America, Asia Pacific, and Rest-of-the-World.
Radio Frequency Component (RFC) Market – Regional Analysis
North America is estimated to remain the largest region in the global radio frequency component market. The presence of various telecommunication equipment providers and well-established telecom sector in the region drive the market growth. Moreover, considerable developments in technology and early uptake of advanced technologies foster the growth of the market in the region. Furthermore, large defense sectors in this region create opportunities for the radio frequency component market to grow significantly during the forecast period.
The radio frequency component market in the European region is a lucrative space too. Robust military forces in most of the countries in the region drive the market demand in the region. European countries such as Germany and the UK backed by the enormous investments and developments in related technologies account for significant growth contributors to the regional market. Increasing use of electronic devices for industrial, commercial, and residential purposes are expected to allow the regional market to experience huge demand for RFCs.
The Asia Pacific radio frequency component market is growing rapidly, emerging as a promising market on the global platform. Increases in the adoption of consumer electronic products with connectivity features led by the rapidly developing economy in the region are resulting in increasing the use of RFCs. Furthermore, large technological advances would result in the growth of the regional market.
Radio Frequency Component (RFC) Market – Competitive Analysis
The RFC market appears to be highly competitive, owing to the presence of a number of small and large-scale players. Mergers & acquisitions, brand reinforcement, and innovation remain the key trends for the leading players. Vendors compete on the basis of cost, quality, and dependency. They strive to develop low-cost, compact components, emphasizing on improved hardware and to offer aftersales services to the end-users.
Key manufacturers incorporate strategic alliances with local dealers and manufacturers to expand their business in the rapidly developing countries. Strong players in the market raise the entry barriers for new entrants. Many suppliers are focusing on the development of advanced RFCs that can help them to keep at the forefront of the competition.
Table Of Contents
1 Market Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Network Solution
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
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List Of Tables
Table 1 Global Radio Frequency Component Market, By Components
Table 2 Global Radio Frequency Component Market, By Materials
Table 3 Global Radio Frequency Component Market, By End Users
List Of Figures
Figure 1 Research Network Solution
Figure 2 Global Radio Frequency Component Market: By Components (%)
Figure 3 Global Radio Frequency Component Market: By Materials (%)
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