RF Components Market Size - By Component Type (Power Amplifier, Antenna, Switches, Multiplexer, Filter, Modulator & Demodulator, Transistor & Diode), Application, COVID-19 Impact Analysis & Forecast, 2022 - 2028

RF Components Market Size

Radio Frequency (RF) Components Market size exceeded USD 15 billion in 2021 and is anticipated to grow at over 16% CAGR between 2022 and 2028. The market growth is attributed to the increasing penetration of industrial robotics & automation across manufacturing and processing sectors.
 

Various RF components, such as RF amplifiers, transistors, diodes, and filters, are integrated into industrial robots for wireless connectivity applications. According to October 2021 press release by International Federation of Robotics, there were around three million operational industrial robots operating around factories across the globe. Also, the worldwide industrial robot sales increased by 10% in 2020 compared to 2019. The industrial robots are also equipped with radio frequency controllers, radar modules, IoT sensors, and RFID chipsets for remote monitoring and controlling applications. Adding to this, the proliferation of smart factories across North America and APAC economies will further amplify the adoption of RF components over the forecast timeframe.
 

Impact of COVID-19 Pandemic

The COVID-19 pandemic severely impacted the RF components market expansion in the first half of 2020. In early 2020, several government bodies and regulatory authorities imposed stringent lockdowns to limit the spread of COVID-19 virus. This has resulted into international trade barriers and supply-chain disruptions of raw material and components that had lowered the market demand for RF components during pandemic. However, as of 2022, several RF components manufacturers have realigned their supply chains by collaborating with regional raw material suppliers. This is expected to lower the impact of COVID-19 pandemic for manufacturers in coming years.
  

RF Components Market Analysis

The power amplifier segment held 25% of the RF components market share in 2021 and is projected to witness 17.5% growth rate through 2028. The industry growth is credited to several features offered by the RF power amplifiers such as higher amplification of weak radio signals, better selectivity, high sensitivity, and higher signal-to-noise ratio. These features increase their market acceptance across military warfare systems, public safety wireless radio equipment, and military radios. The market players are highly engaged in the development of technically advanced RF components to achieve a competitive advantage in the industry.
 

The consumer electronics segment accounted for 40% of revenue share in 2021 and is estimated to attain a CAGR of 17% from till 2028. The industry expansion is attributed to the growing usage of RF components in consumer electronics devices including smartphones, tablets, laptops, and wearable electronics. These consumer electronics devices require RF antennas, filters, multiplexers, and amplifiers to achieve high-end wireless connectivity. Increasing mobile subscribers across the globe will further amplify the market opportunities.
 

The proliferation of smart home technology products across European economies majorly the UK, Germany, and France is predicted to fuel the adoption of RF components in the market. According to October 2021 survey by Eco Experts, around 23% of the UK’s population i.e., approximately 66.4 million people owns at least one smart home technology product and around 8% of the population owns two or more smart home devices. Various smart home technology products such as smart speakers, smart security systems, intercom systems, and HVAC systems are integrated with RF components and modules. The increasing RF components market acceptance of smart home consumer devices will bolster the industry progression.
 

Asia Pacific RF components market dominated more than 50% of revenue share in 2021 and is poised to expand at more than 18.5% CAGR during 2022 to 2028. The industry demand is driven by growing investments by regional telecom operators to implement 5G communication network across Asia Pacific economies such as China, South Korea, Japan, and India. According to the Ministry of Industry and Information Technology (MIIT), Government of China, the Chinese telecom operators have combinedly deployed over 1.3 million 5G base stations in the country. The country has also reached a 5G user-base of around 497 million as of November 2021. The 5G base stations are highly integrated with modems, routers, and 5G antenna systems, further increasing the market usage of RF components.
 

RF Components Market Share

Key companies operating in the RF components market include:

• Analog Devices Inc
• Infineon Technologies AG
• Broadcom Inc
• NXP Semiconductors N.V
• OnMicro Electronics Co Ltd
• Qorvo Inc
• TDK Corporation
• STMicroelectronics Texas Instruments Incorporated 

These market leaders are highly emphasizing on new product development and innovations to cater to high competitiveness in the industry.
 

The RF components market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028 for the following segments:

Click here to Buy Section of this Report

Market, By Component Type

• Power amplifier
• Antenna
• Switches
• Multiplexer
• Filter
• Modulator & demodulator
• Transistors & diodes
• Others

Market, By Application

• Consumer electronics
• Automotive
• Industrial
• Aerospace & defense
• Telecommunication
• Medical & healthcare
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
• Latin America
  • Brazil
  • Mexico
• MEA
  • GCC
  • South Africa