Dublin, Dec. 14, 2021 (GLOBE NEWSWIRE) -- The "RF Power Semiconductor Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global RF power semiconductor market is projected to grow at a CAGR of 8.76% to reach US$29.265 billion by 2026, from US$16.258 billion in 2019
The prime factor which drives the global market of RF power semiconductor devices includes the wide employment of wireless networks such as long-term evolution (LTE) and 5G across computing devices. Apart from this, increasing use of electronic devices such as tablets and smartphones and intensive adoption of RF power in lighting applications also stimulate the global growth of the market significantly.
In addition, RF power semiconductors are extensively used in cellular and mobile phone applications. These RF devices are crucial components in all base stations for cellular and mobile wireless infrastructure, which will drive their market growth during the forecast period. According to Techjury 2021, the average number of connected devices per household in 2020 was 10. By 2021, 35 billion IoT devices will be installed around the world. The rapidly increasing demand for cellular and mobile wireless will contribute to the market growth.
Moreover, the RF power semiconductors are used in various applications such as air traffic control systems, marine, military, aerospace, energy, and medical. Furthermore, they have wide applications in consumer electronics, aerospace, automotive, telecommunication, and data communication applications, which will further bolster the market growth.
The key market players have been launching new products in the market to meet the increasing industry demand which will further create competitiveness in the market. For instance, in July 2019, Skyworks Solutions, Inc. launched two power amplifiers, namely, SKYH22001 and SKY22002 for applications in the aerospace & defense industry.
Market Segmentation and Trends
By material, the gallium arsenide segment is expected to hold a dominant market share due to its wide use in smartphones RF components. It has high electron mobility, high thermal stability, and low noise which has made it increasingly popular in the market.
By application, the automotive industry will grow at a high CAGR owing to the increasing use in the automotive and transportation industry. Further, the introduction of 5G technology and the rising demand for telematics and infotainment equipment in the automotive industry will in turn contribute to the segment growth.
Geographically, Asia Pacific will be the fastest-growing region owing to the increasing penetration of the 5G network, especially in countries such as India and China, and the flourishing consumer electronics industry in the region.
Growth Factors
Rapidly evolving 5G technology
The major key driver of the Global RF power semiconductor market is the rapidly evolving 5G technology, nationwide. According to a report by Ericsson Mobility, in June 2020, there are more than 100 commercial 5G device models available worldwide, which will drive market growth during the forecast period.
Also, the increasing penetration of the 5G technology in countries such as China will further proliferate the market growth. According to GSMA, in 2025, the number of 5G connections in China is expected to be 460 million.
Restraints
High costs and lower profit margins
A steep rise in the cost of RF devices following performance improvement of the device and fewer profit margins for RF device suppliers may hamper market growth during the forecast period. Since the profit margins associated with these semiconductors are low the supplier may not actively trade in them which may further restraint the market growth.
Impact of COVID-19 On The RF Power Semiconductor Market
The Covid-19 pandemic negatively impacted the Global RF power semiconductor market, as due to the lockdown and travel and trade restrictions imposed by the governments, worldwide the business operations of many industries such as automotive, electronics, aerospace & defense, telecommunication, and data communication, etc. were put to a halt which in turn declined the demand for RF power semiconductor in 2020 as the industries suffered huge losses.
Also, due to the supply chain disruptions, the RF power semiconductor was unable to reach a end-user industry which further hampered the market growth. However, with the ease of restrictions and normalcy being restored, the market is expected to rebound during the forecast period.
Competitive Insights
The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors.
The market leaders for the global RF power semiconductor market consist of:
- MACOM Technology Solutions
- Broadcom Inc.
- Qualcomm Technologies, Inc.
- Cree, Inc.
- Toshiba Corporation
- NXP Semiconductors N.V.
- Murata Manufacturing Co., Ltd.
- Skyworks Solutions, Inc.
Segmentation:
By Product
- RF Power Amplifiers
- RF Passives
- RF Duplexers
- RF Switches
- Others
By Material
- Silicon
- Gallium Arsenide
- Silicon-Germanium
- Gallium Nitride
- Silicon Carbide
- Indium Phosphide
By Application
- Aerospace & Defense Application
- Automotive Application
- Medical Application
- Consumer Application
- Telecommunication and Data Communication
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- Indonesia
- Taiwan
- Thailand
- Others
For more information about this report visit https://www.researchandmarkets.com/r/yiuq25
