The global radio frequency integrated circuit (RF IC) market is growing rapidly. Rising adoption and use of portable devices like cellphones, wireless stations & routers, Wi-Fi devices, telephones, microwave equipment, and satellite transceivers drive the market growth. Besides, growing uses of RFICs in various industry verticals, including automotive, consumer electronics, government, and defense, boost the market size.
Rapid advances in wireless communication technologies define the growing market landscape. In this regard, Market Research Future (MRFR) asserts that the global radio frequency integrated circuit market is expected to grow exponentially by 2027, growing at an impressive CAGR during the forecast period (2020-2027). The increasing adoption of consumer electronics is a major driving force behind the market growth.
Moreover, growing mobile telecommunications system networks escalates the market growth. The proliferation of LTE networks is mandating the wide integration of RFICs in semiconductor and electronic devices, providing a huge impetus to the already growing RFIC market. Furthermore, increasing deployments of next-generation Long-Term Evolution (LTE) wireless networks influence market growth.
Radio Frequency Integrated Circuit (RFIC) Market – Segments
The report is segmented into applications, verticals, and regions. The application segment is sub-segmented into global positioning system (GPS), radio frequency microelectromechanical system (RF MEMs), near-field communication (NFC), Bluetooth, Wi-Fi, ZigBee, Wi-max, GPS, power amplifier, NFC, transceiver, wireless USB, and others.