Radio Frequency (RF) Components Market revenue to cross USD 40 Bn by 2028: Global Market Insights Inc.

SELBYVILLE, Del., Jan. 31, 2022 /PRNewswire/ -- The RF components market size is anticipated to record a valuation of USD 40 billion by 2028, according to the most recent study by Global Market Insights Inc. The market growth is credited to increasing consumer inclination toward consuming High-definition (HD) media content over personal devices such as smartphones, laptops, tablets, desktop/PCs, and wearable electronics. These devices are operating on 3G/4G/5G networks that use radio frequency ranging from 800 MHz to 30 GHz and above. Various RF components, such as RF antennas, filters, and multiplexers, are integrated into these devices to achieve high-end connectivity.

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The antenna segment held more than 15% of the RF components market share in 2021 and is expected to witness 16.5% growth rate through 2028. The industry growth is driven by the increasing adoption of radio frequency antenna across telecom base station equipment and consumer electronic devices. The antenna helps to convert the electrical signals into radio frequency and then propagate it for a long distance through the air. Industry players are focusing on developing technically advanced antenna to stay competitive in the market.

The industrial application segment accounted for 10% of revenue share in 2021 led by the increasing demand for RF components in various industrial equipment including wireless sensors, IoT gateways, industrial robotics, and automation systems. These components offer radio frequency communications that help to obtain data from IoT, track manufacturing outputs remotely, and collect data via sensors deployed throughout factory. The proliferation of smart factories will further augment the market expansion.

Europe RF components market is estimated to attain a CAGR of 12% till 2028 impelled by the presence of several automotive OEMs operating in the region including Daimler, Renault, Volkswagen, Audi AG, and BMW Group, among others. These OEMs are emphasizing on mass manufacturing of vehicles to target the customer demand for luxury cars across the globe.

Major companies operating in the market are Analog Devices, Inc., Infineon Technologies AG, Broadcom, Inc., NXP Semiconductors N.V., OnMicro Electronics Co., Ltd., Qorvo Inc., TDK Corporation, STMicroelectronics, and Texas Instruments Incorporated. Market leaders are focusing on new product development and innovations to gain competitive benefits in the market.

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Some major findings of the radio frequency (RF) components market report include:

• The power amplifier segment is projected to showcase a high market share in the coming years due to high-end features offered by the technology including precise amplification of weak radio signals, high sensitivity, and higher signal-to-noise ratio offered by the device. These amplifiers are widely operated across aerospace & defense equipment, such as military radio, military warfare systems, and radar systems, propelling the industry expansion.
• The consumer electronics segment will observe a high growth rate during the forecast period. The increasing uptake of smart home technology products across developed economies including the U.S., Germany, Italy, and France will fuel the industry revenue in the coming years. 
• Several automotive OEMs are emphasizing on integrating In-vehicle Infotainment (IVI) systems, advanced telematics, ADAS, and automotive safety systems into vehicles. The proliferation of these systems is poised to foster the market value during the forecast timeline.
• The COVID-19 pandemic has positively impacted the RF components market attributed to the increasing work-from-home scenario worldwide. Owing to the prolonged lockdown implemented by government and regulatory bodies across the globe, several IT enterprises have to adopt remote working policies to sustain the pandemic. This has resulted into increasing acceptance of RF components across gateway devices, modems, and routers during pandemic.

Table of Contents (ToC) of the report:

Chapter 3 RF Components Market Insights

3.1  Industry segmentation

3.2  Impact analysis of corona virus (COVID-19) pandemic on market

3.2.1  Global outlook

3.2.2  Impact by region

3.2.3  Industry value chain

3.2.3.1  Research and development

3.2.3.2  Manufacturing

3.2.3.3  Marketing

3.2.3.4  Supply

3.2.4  Competitive landscape

3.2.4.1  Strategy

3.2.4.2  Distribution network

3.2.4.3  Business growth

3.3  Industry ecosystem analysis

3.3.1  Supplier

3.3.2  Manufacturers

3.3.3  Distribution channel

3.3.4  End-user

3.3.5  Vendor matrix

3.4  Technology & innovation landscape

3.4.1  UltraBAW RF filter technology (Qualcomm)

3.4.2  Technology advancement in wideband RF electronics

3.5  Regulatory landscape

3.6  Industry impact forces

3.6.1  Growth drivers

3.6.2  Industry pitfalls and challenges

3.7  Growth potential analysis

3.8  Porter's analysis

3.9  PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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SOURCE Global Market Insights Inc.