Categories: Market Research

RF Components Market Size and Forecast 2024-2033|Mitsubishi Electric Corporation, Taiwan Semiconductor Manufacturing Company Limited, Raytheon Technologies Corporation, MicroWave Technology Inc., Panasonic Corporation

The RF Components Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s RF Components Global Market Report 2024, The RF components market size has grown rapidly in recent years. It will grow from $31.02 billion in 2023 to $36.11 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. The growth in the historic period can be attributed to wireless communication proliferation, mobile device boom, consumer electronics growth, increased military and defense applications, growth of telecommunication networks.

The RF components market size is expected to see rapid growth in the next few years. It will grow to $67.65 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The growth in the forecast period can be attributed to space exploration and satellite communication, connected and autonomous vehicles, smart manufacturing, supply chain challenges, semiconductor shortages. Major trends in the forecast period include RF front-end modules, AI and machine learning in RF design, quantum communication, RF MEMS (micro-electro-mechanical systems), mmWave technology.

Increasing penetration of robots is significantly driving the growth of the RF components market. The penetration of robots helps in rapid industrial automation. Robots leverage wireless communication for easy and rapid information transmission. For wireless communication applications, various RF components such as RF transistors, amplifiers, diodes, and filters are integrated into industrial robots. This will create a huge demand for RF components. For instance, according to the International Federation of Robots’ World Robotics 2021 report, a Germany-based non-profit organization, 3 million industrial robots were operating in companies around the world in 2021, a 10% increase over the previous year. Similarly, global robot installations are expected to rebound substantially, increasing by 13% to 435,000 units in 2021. Hence, the increasing penetration of robots is expected to propel the growth of the RF components market over the coming years.

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The RF components market covered in this report is segmented –

1) By Component Type: Power Amplifier, Antenna, Switches, Multiplexer, Filter, Modulator and demodulator, Transistors and diodes, Other Components

2) By Material: Indium Phosphide, Nitride, Silicon, Gallium Arsenide

3) By Application: Consumer Electronics, Automotive, Military, Wireless Communication, Other Applications

4) By End User: Commercial, Residential

Major companies operating in the RF components market are developing new products such as high-frequency connectors to gain a competitive edge in the market. High-frequency connectors are specialized electronic connectors designed to operate at radio frequencies (RF) or microwave frequencies. For instance, in March 2023, Linx Technologies, a US-based company that specializes in wireless products, launched surface-mount RF switch connectors. These connectors are intended for use in test and measurement apparatus, diagnostic equipment, and other applications where high-frequency switching is necessary. The new connectors, which are offered by approved TE Connectivity dealers such as mouser electronics, are a part of the SWD and SWF series. These connectors offer strong port isolation for better data accuracy and run between 0 Hz and 6 GHz.

The rf components market report table of contents includes:

1. Executive Summary

2. RF Components Market Characteristics

3. RF Components Market Trends And Strategies

4. RF Components Market – Macro Economic Scenario

5. Global RF Components Market Size and Growth

26. South America RF Components Market

27. Brazil RF Components Market

28. Middle East RF Components Market

29. Africa RF Components Market

30. RF Components Market Competitive Landscape And Company Profiles

Top Major Players: