The global radio frequency components (RFC) market is set to make a remarkable impact. With an estimated value of USD 26.5 billion in 2023, this dynamic market is poised to transcend boundaries and reach unprecedented heights. By 2033, the market revenue is forecasted to surpass a staggering USD 99 billion, thriving at an appealing CAGR of 14.1%.
Key Drivers Boosting the Demand for Radio Frequency Components:
Challenges for Market Players in the Radio Frequency Components Industry:
| Attributes | Details |
|---|---|
| Current Year Value (2023) | USD 26.5 billion |
| Expected Forecast Value (2033) | USD 99 billion |
| Projected CAGR (2023 to 2033) | 14.1% |
Explore FMI!
Book a free demo
The RF components market size recorded USD 22.6 billion in 2022, showcasing a CAGR of 18%. The market is characterized by ongoing advancements in smartphones. This has resulted in a surge in the sales of radio frequency components. These components find wide-ranging applications in sectors such as telecommunications, aerospace, defense, and wireless communication.
The integration of IoT technologies in various applications, including home robots, smart wearables, self-driving cars, and smart manufacturing tools, has further expanded the RF signal chain components market.
The market growth is being fueled by the increasing popularity of smart home devices. These devices are automated systems that can be controlled remotely through the internet. Additionally, reliable wireless connectivity is crucial for the success of IoT solutions. The up-to-date smartphones offer better performance, biosensors, longer battery life, and advanced AI capabilities. These factors contribute to the increasing adoption of radio frequency components.
Between 2023 and 2033, the market is anticipated to unfold a multitude of promising opportunities, exhibiting a remarkable growth rate of 3.7X its current size. The telecommunication industry is the primary consumer of RF components. Ericsson predicts that there are likely to be around 1.90 billion 5G mobile subscriptions by 2024.
To meet the growing demands of advanced and efficient communication, 5G base stations are going to heavily rely on high-quality RF front-end modules. Moreover, the demand for RF devices is expected to be even higher for mmWave 5G smartphones than for sub-6GHz models. This is anticipated to lead to a surge in the need for AiP (antenna in the package) technology. As a result, the projected increase in smartphone shipments is expected to propel the RF front end market throughout the forecast period.
The demand for better broadband services and faster mobile internet speeds is pushing advancements in wireless and cellular mobile communication technology. The ongoing shift from 2G and 3G to 4G/LTE, LTE-advanced, LTE-advanced Pro, and 5G networks creates a need for continuous innovations in mobile handset technology. This, in turn, drives the demand for maximizing power efficiency and expanding the spectrum range in mobile devices. Consequently, there is an expected increase in the demand for advanced radio frequency components during the forecast period.
| Trends |
|
|---|---|
| Opportunities |
|
| Countries | Projected Market Value (2033) |
|---|---|
| United States | USD 32.4 billion |
| United Kingdom | USD 4.8 billion |
| China | USD 8.5 billion |
| Japan | USD 7.2 billion |
| South Korea | USD 4.0 billion |
The United States radio frequency components market is likely to dominate the global market during the forecast period. The market in this country is experiencing robust growth driven by:
The rollout of 5G networks across the United States has driven the demand for RF components. The demand includes power amplifiers, filters, and antennas. These components are needed to support the higher data rates and increased network capacity of 5G technology.
| Country | United States |
|---|---|
| Forecasted CAGR (2023 to 2033) | 12.9% |
The United States Federal Communications Commission (FCC) oversees and regulates various forms of interstate and international communications. These forms include cable, radio, television, satellite, and wire. The FCC conducts auctions of spectrum licenses to telecommunications companies. The primary objective of the FCC is to foster connectivity. These auctions drive investments in the market.
Key manufacturers are driving market growth through strategic partnerships and technological advancements. In May 2023, Apple publicized a new multiyear and multibillion-dollar agreement with Broadcom. The agreement involves Broadcom's development of 5G radio frequency components. The development includes advanced FBAR filters. Additionally, Broadcom intends to work on cutting-edge wireless connectivity components.
The China radio frequency components market has experienced significant growth in recent years. Factors impacting the market growth are:
According to ESM China, Murata and Samsung's MLCCs are commonly used in RF circuits. These MLCCs are primarily employed in high-end sectors, including smartphones, automobiles, industrial applications, and medical equipment. The temporary suspension of production by Murata and Samsung is anticipated to have a significant impact on the market.
| Country | China |
|---|---|
| Forecasted CAGR (2023 to 2033) | 15.1% |
The anticipated increase in vehicle production in China is expected to drive the demand for GaN, thereby boosting the RF power market in the country. China holds the title of being the leading producer of electric vehicles. Furthermore, China has successfully achieved and exceeded the 20% electric vehicle share target established in the 14th Five-Year Plan Energy Saving and Emission Reduction Work Plan. This accomplishment occurred two years earlier than the originally projected target year of 2025. In 2022, approximately 22% of new car sales in China were electric vehicles.
Manufacturers continue to focus on research and development, strategic partnerships, as well as mergers and acquisitions to strengthen their market position. In February 2023, ZTE Corporation revealed its all-scenario 5G UniSite solution and a range of innovative products at the Mobile World Congress in Spain. The 12TR Ultra Broadband Radio offers an exceptional ultra-high output power of 12x120W. This release aims to assist operators in building a future-oriented 5G network that is simple, efficient and utilizes all frequency bands collaboratively.
The Japan radio frequency components market is experiencing considerable growth given the proliferation of 5G networks. The government has been actively supporting the development and deployment of 5G infrastructure. The deployment of 5G networks has created significant demand for RF components such as power amplifiers, filters, and antennas. The need for higher data rates, low latency, and enhanced network capacity is driving the demand for advanced RF components to support the 5G infrastructure.
| Country | Japan |
|---|---|
| Forecasted CAGR (2023 to 2033) | 13.5% |
Manufacturers are focusing on innovation, partnerships, and expansion strategies to capitalize on market opportunities. In August 2019, TDK Corporation partnered with Modelithics, Inc. under the Modelithics Vendor Program (MVP). They have joined esteemed companies such as Murata, Coilcraft, AVX, and Würth Elektronik at the Sponsoring MVP level. Through this collaboration, these companies offer test-based models for RF and mmWave components via Modelithics. TDK's library on the Modelithics website presently encompasses ceramic chip capacitors like the commercial-grade C series along with RF inductor components.
The United Kingdom radio frequency components market is witnessing steady growth. The deployment of 5G networks and the increasing adoption of IoT devices in sectors like smart homes, industrial automation, and healthcare are fueling the demand for RF components. Ofcom, the regulatory authority in the United Kingdom, has revealed its plans to conduct an auction for a combined 6 GHz of spectrum within the 26 GHz and 40 GHz frequency bands in March 2023. This is likely to create opportunities for RF component suppliers.
| Country | United Kingdom |
|---|---|
| Forecasted CAGR (2023 to 2033) | 13.2% |
Many manufacturers are focusing on providing customized RF components tailored to specific customer requirements, such as frequency range, form factor, and power handling capacity. Skyworks Solutions, Inc. announced in November 2022 that it has partnered with MediaTek. The collaboration aims to accelerate the adoption of 5G New Radio technology in various automotive OEMs. The solution, known as the Sky5A RF front-end, is designed to facilitate the deployment of this advanced protocol in the automotive industry.
The South Korea radio frequency components market is poised for significant growth. South Korea is leading in the adoption of 5G technology, with key telecom operators launching commercial 5G networks. Moreover, the government has actively supported the development of 5G infrastructure. It has provided funding and created a favorable regulatory environment. These factors have resulted in a substantial demand for RF components in the country. As the market continues to evolve, oppsortunities for RF component manufacturers in South Korea are expected to expand.
| Country | South Korea |
|---|---|
| Forecasted CAGR (2023 to 2033) | 14.5% |
Manufacturers are at the forefront of innovation, investing in research and development as well as strategic partnerships to meet market demands. LG Innotek unveiled the Wireless Battery Management System in February 2023 to improve battery performance. It features an RF communication module that combines essential components for wireless communication into one unit. These components include an RF communication chip and antenna.
| Segment | Forecasted CAGR (2023 to 2033) |
|---|---|
| Power Amplifier | 14.0% |
| Consumer Electronics | 13.9% |
The power amplifier segment had the principal market share in terms of revenue in the global market in 2022. The power amplifier segment is expected to continue leading during the forecast period. This growth is attributed to increased applications of power amplifiers in various areas. These areas include GSM, radar HDTV, LTE point-to-point microwave, and 5G signal amplification. The deployment of 5G networks requires higher frequency bands and improved signal quality. Power amplifiers capable of operating at these frequencies with high efficiency are essential for 5G infrastructure.
Power amplifiers play a crucial role in enhancing the power, range, and signal strength of RF signals. The advancement in power amplifier technologies is fueling the growth of this segment. The proliferation of smartphones and the rising consumption of mobile data contribute to the growing demand for power amplifiers. As mobile users access high-bandwidth applications and services, the need for efficient power amplifiers becomes more pronounced to handle the increased data traffic.
In 2022, the consumer electronics industry captured the maximum market share. This segment is projected to experience additional expansion during the forecast period. This growth can be attributed to the escalating expenditure on consumer electronics coupled with rising disposable income. This has resulted in increased demand for products like smartphones, laptops, tablets, and smart wearables. RF components play a crucial role in these products since they facilitate wireless connectivity.
The rising consumer expectations for advanced features are fueling the demand for more efficient and advanced RF components. The surge in demand is also fueled by the proliferation of IoT technologies. Integration of artificial intelligence in televisions and set-top boxes has also positively impacted the growth of this segment. Furthermore, government regulations in several countries mandate the installation of set-top boxes. This is expected to further propel the growth of the consumer electronics sector. Additionally, the growing trend of smart homes is contributing to the overall growth of the consumer electronics segment.
RF components manufacturers employ various strategies to stay competitive and meet the evolving demands of the industry. Here are certain common strategies adopted by manufacturers:
Recent Developments by Key Market Players
Key Players
The radio frequency components market CAGR for 2033 is 14.1%.
The market is estimated to secure a valuation of USD 26.5 billion in 2023.
The projected market value of the market for 2033 is USD 99 billion.
Key players are developing the market by expanding their product portfolio.
Asia-Pacific holds the majority share in the market.
Human Augmentation Technology Market Growth - Trends & Forecast 2025 to 2035
Micromobility Platform Market by Vehicle Type, Platform Type, End User, and Region through 2035
Mobile Virtual Network Operator (MVNO) Market by Operational Model, Subscriber Type, Organization Size, and Region Forecast till 2035
Endpoint Protection Platform Market Growth – Trends & Forecast 2025-2035
Application Control Software Market Insights – Growth & Forecast 2025-2035
Outage Management System Market Insights – Forecast 2025-2035
Radio Frequency Components Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
