Press Release / Business / RF Components Market Growth During Forecast Period.

RF Components Market Growth During Forecast Period.

RF Components Market size is likely to witness growth in the upcoming years due to increasing demand for consumer electronics and technological advancements in wireless communication channels such as 4G LTE and 5G. The increasing demand for consumer electronic devices such as smart televisions, smart home devices, smartphones, smartwatches, drones, tablets, notebooks, etc., with the increasing integration of AI and IoT technologies into these devices will propel the demand for advanced antenna switches, filters, power amplifiers, etc., augmenting the RF components market.
The International Telecommunication Union (ITU) has reported that ever-increasing users of smartphones will also lead to the growth RF components market in the future. These components are integral to wireless phones and computers, Wi-Fi, satellite television, GPS etc. including 3G and 4G networks. Consumers are demanding high-speed data services, which will boost the demand for RF solutions for satellites by telecom operators. In addition, material developments in Gallium Arsenide and Silicon Germanium used for the manufacturing of these components have further contributed to industry growth by reducing the cost of components.
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More research & development efforts are being undertaken for the commercialization of more technologically innovative products in the market. The companies are investing huge amounts for manufacturing advanced RF products that are integrated with the IoT for the upcoming self-driven cars. Many of the companies are using Artificial Intelligence (AI) with enhanced RF systems for special radio communication for military and defense security systems augmenting the market.
The power efficiency of these components is one of the major challenges faced by the RF components market. They consume power at a much rapid rate due to which the implementation of efficient power amplifiers is crucial. In addition, to achieve optimum power efficiency, they are being deployed with envelope tracking ICs that ensure power supply management. Companies such as Samsung, Qualcomm, and Qorvo have these ICs as part of their RF product portfolio.
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The companies operating in the RF components market are Avago Technologies Limited (U.S), Renesas Electronics Corporation, Fujitsu Limited, NXP Semiconductors, Texas Instruments Inc., Taiwan Semiconductor Manufacturing Co., Ltd., Skyworks Inc. (U.S.), etc. The other players in the market include Murata Manufacturing (Japan), International Quantum Epitaxy Plc, RF Axis, RF Micro Devices Inc. (U.S.), and TDK Corporation. The companies are focusing on emerging application areas of these components such as the IoT for increasing revenue.
Companies are entering into collaborations, strategic partnerships, joint ventures, and acquisitions to strive in the RF components market. For example, in January 2017, Silicon Lab acquired Zentri Inc. and in December 2017, it acquired Z-Wave Technology. This acquisition has led Silicon Lab to have technological advantages in developing more specialized components that can be integrated with IoT technology for smart home solutions. MACOM Technology Solutions entered into a joint venture with a Chinese company, GoerTek, to build 5G services in China. In this joint venture, the company will provide superior GaN-on-Si technology for manufacturing RF components for enriching the 5G market in China. This will create several opportunities for the growth of the market.
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The Asia Pacific RF components market is projected to witness exponential growth in the upcoming years driven by economies such as China and India. Stringent regulations by the government of India, will be significant in propelling the market as it has made the deployment of set-top box compulsory. The Chinese government has also taken the initiative of 20 fab new semiconductor projects in which all multinationals have to collaborate with the Government of China for growth in the semiconductor components manufacturing industry by 2020. The Japanese Government has adopted RFID technology in all the stores in Japan realizing the growth potential of these devices in various technologies by 2025. This initiative by the Japanese Government will improve the overall billing and tax collection and shopping system in Japan and drive the market.
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