Market Insights
MRFR reveals that the worldwide market of radio frequency components market is set to increase its valuation to USD 16 billion by 2022. The remarkable growth of the telecom sector is likely to surge the global radio frequency component market. The rise in need for real-time communication across any corner of the globe that augments international trading effectiveness is encouraging innovations in the telecom sector. This is escalating the adoption of wireless networking. In addition, growing inclination of people towards more comfort is triggering incorporation of latest technologies such as artificial intelligence and Internet of Things in modern telecom gadgets. Radio frequency is the science that drives these aforementioned technologies. Hence, the sales of radio frequency components are high, which is anticipated to gain momentum for its global market. Other important factors that can be attributed to the fast-paced expansion of the global radio frequency components are rapid industrialization leading to globalization and widening urban population base that is escalating sales of electronic devices such as mobile, and laptops.
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The automobile industry is another prominent end-user of radio frequency component. The inclination of people towards better equipped automobiles are encouraging automobile manufacturers to develop better infotainment system. The role of RF components lies therein, thus, its market is expected to gain.
Key Players
Murata Manufacturing Co., Ltd. (Japan), Qorvo Inc. (U.S.), Skyworks Solutions, Inc. (U.S.), Tsinghua Unigroup (China), Vectron International, Inc. (U.S.), Broadcom Limited (U.S.), WIN Semiconductors Corp. (Taiwan), Danaher Corp. (U.S.), Mitsubishi Electric Corporation (Japan), and others are some of the popular companies that are functional in the global radio frequency component market. Detailed analysis of history and key trends of market players aid in forecasting the market growth scope for growth. Both deals and intensifying competition among strong contenders of the market are likely to contribute in generating high revenue.
Segmental Overview
The radio frequency component market has been segmented based on components, material, and end-users. Based on the component, the market has been segmented into amplifiers, antenna switches, duplexer, filters, and modulators and demodulators. The large-scale application of radio frequency components owing to their rise in cognizance across different business field is expected to push the component segment of the market. This can gain traction for the market in the near future. Based on the materials, the market has been segmented into nitride, gallium arsenide, indium phosphide, silicon, and others. By end users, the market has been segmented into automotive, military, consumer electronics, telecommunication, and others. Cash-rich consumers of radio frequency component are can boost the market growth.
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Regional Outlook
By region, the radio frequency component market has been segmented into Asia Pacific, North America, Europe, and the Rest of the World (RoW). The expansion of the global radio frequency component market in the North American region can be attributed to the residence of telecom giants and early adoption of trending technologies. The US is likely to show healthy growth over the forecast period, owing to the dynamic telecom base of the country.
The emergence of the concept of smart cities, hike in annual income of people, sales escalation of consumer electronics, and residence of renowned telecom companies are factors that are likely to underpin the growth of the global market.
Hike in use of consumer electronics such as tablets, laptop, and PCs are widening the scope for deploying radio frequency component across different industry verticals, and residential use in Europe. These causes are expected to leave a positive influence on the Europe market in the foreseeable future.
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