RF Components Market Analysis

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.