RF Component Market size was valued at USD 16.26 Billion in 2022 and is projected to reach USD 62.38 Billion by 2030, growing at a CAGR of 18.3% from 2023 to 2030.

RF Component Market Overview:

Radiofrequency components are the most important parts of any device that sends or receives information. Radiofrequency is the range of radio waves between 3 kHz (1 kHz = 103 Hertz) and 300 GHz (1 GHz = 109 Hertz). In the field of consumer electronics, the frequency range between 10 MHz and 10 GHz is the most interesting. Receivers/transmitters, filters, power amplifiers, duplexers, antenna switches, and demodulators are the main parts that make up RF front communications in consumer electronics. Components of radiofrequency are the basic parts that any communication device needs to work well. In consumer electronics, antenna switches, receivers or transmitters, duplexers, power amplifiers, filters, and demodulators are the main parts used in RF front communications.

This market is growing because of improvements in technology and the fact that RF components can be made small enough to fit in small spaces. Also, as universal mobile telecommunication networks (3G and 4G) have improved, the market has seen a high demand for tuners and switchers that can give other radio frequency devices, such as demodulators, power amplifiers, etc., precise functionality. Even though the market for frequency components is growing, the assembly of frequency components requires a lot of money from vendors. This makes it hard for the radiofrequency component market to grow.

The growing demand for broadband services and faster speeds for mobile internet connections is driving technological advances in cellular mobile and wireless communication, such as the creation and use of 5G networks. But an increase in the price of raw materials is likely to hurt the market for RF components. Silicon wafers, a variety of chemicals, and photoresist materials are the main raw materials used to put together RF components. Because manufacturers are using more of these raw materials, there aren't as many of them left. This has led to price changes and delivery delays across the industry.

Market Dynamics

Automotive Sector to Hold Significant Growth

Advanced RF electronic parts in cars have made them safer, more efficient, and easier to connect. Radio was where wireless RF integration with the automotive industry began, and it is still an important part of RF design in the industry. Also, the rapid growth of RF-based vehicle systems isn't just limited to functions for the passengers. The number of RF-based subsystems in a car is used for things like monitoring tyre pressure, keyless remote entry, software updates, and so on.

Also, today's car radar is usually built into a module with an RF board and a signal processing board. The antenna, the RF section, a high-speed digital interface, a signal processor, and a power section are the five main parts of a typical vehicle radar module. In this case, the NXP Semiconductors NV RDK-S32R274 module is being used. It is often used as a platform for developing radar, but it can also be used for things like avoiding collisions, adaptive cruise control, and figuring out who is in a room.

In addition, Goldman Sachs says that the market for ADAS will grow from USD 3 billion in 2015 to USD 96 billion in 2025. Reducing the amount of time it takes to measure will help bring affordable ADAS vehicles with RF components to market. In May 2019, Infineon said that its development sites in Linz and Graz, both in Austria, would be getting bigger. The company's new RF development centre in Linz will focus on making 77-GHz radar chips for advanced driver-assistance systems (ADAS).

Recently, companies have also put a lot of effort into making 5G communication modules, which are an important part of self-driving cars (AVs). But it's not easy to use 5G technology to make communication modules for cars. This is because 5G uses high-frequency bands, which cause more signal loss than LTE (Long Term Evolution, 4G mobile telecommunication technology) and more heat because it sends more data.

LG Innotek used its own RF circuit design technology, high precision and density modularized technology, and new materials that can stand up to heat to solve this problem. LG Innotek was the first company to create a 5G cellular communication module for automotive applications that uses Qualcomm chips and can be put in or on a vehicle for V2X in October 2019. The module has an RF (radio frequency) circuit, a memory chip, and a communication chip.

Mergers and acquisitions are also being used by other players to grow their RF components solutions. In January 2019, Taoglas said that the deal to buy ThinkWireless, Inc. was done (antenna provider). With the acquisitions, Taoglas Group hopes to move into new markets that work well together, like the commercial vehicle industry. This will help the company grow its presence in the trucking, bus, off-road, and motorcycle industries.

RF Component Segmentation Analysis

The market is split into Antenna Switches, Duplexers, Filters, Power Amplifiers, and Others, based on what they do. The power amplifiers market was worth more than 30% of the whole market. It is also expected to grow significantly over the next few years. Power amplifiers are being used more and more in signal amplification for HDTV, GSM, radar, Point-to-Point microwave, LTE, and 5G, among other things. This is expected to drive the growth of this segment over the next few years.

The market is split into Consumer Electronics, Wireless Communication, Automotive, and Others based on how it is used. About 60% of the market as a whole was made up of consumer electronics. The segment is also expected to grow significantly over the next few years. This could be because people have more money to spend on things like smartphones, tablets, laptops and notebooks, smart wearables, and smart home accessories, and spend more of it.

RF Component Regional Analysis

Asia-Pacific was the biggest regional market, with 33% of the market share in 2022 and the fastest growth rate of 17% over the forecast period. The growth can be explained by the fact that more and more consumer electronics use RF components. Power amplifiers and duplexers are being used in more and more devices, like cell phones, tablets, laptops and notebooks, and so on. The radio frequency parts are used to change the frequency up or down. The radio frequency down converter changes the radio frequency signal into a GSM-compatible baseband signal.
In the Asia-Pacific region, the demand for radio frequency components used in consumer electronics is expected to grow exponentially. This is because more and more people are using radio frequency components because they can provide or control coverage with some kind of antenna or transmission system.

Scope Analysis

Competitive Analysis

The RF components market is fragmented, which makes it hard for key companies to compete with each other and causes price margins to vary. Major players have also grown their presence in this market through new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and other means.

Top Key players are Murata Manufacturing, Skyworks, RDA Microelectronics, AVAGO Technologies, Triquint Semiconductors, ANADIGICS, Mitsubishi Electric, WIN Semiconductors, RF Micro Devices, Tektronix., TDK Corporation , NXP Semiconductors

Recent Development

• In October 2019, RF specialist Qorvo acquired Cavendish Kinetics Inc. (CK) (provider of high-performance RF MEMS technology for antenna tuning applications). Several of the world's leading smartphone suppliers have validated significant improvements in antenna performance through lower losses and higher linearity delivered by CK's RF MEMS technology. Qorvo aims to build on the great work CK has done by optimizing and scaling the technology and applying it to other applications like infrastructure and defense.
• In November 2022, NXP Semiconductors (NASDAQ: NXPI), the leader in automotive processors, today announced a new S32K39 series of automotive microcontrollers (MCUs) optimized for electric vehicle (EV) control applications. The modern S32K39 MCUs take electrification into the future with high-speed and high-resolution control for increased power efficiency to extend driving range and provide a smoother EV driving experience.

The Global RF Component Market has been segmented into:

By Product Type

• Antenna Switches
• Duplexer
• Filters
• Power Amplifier
• Others

By Application

• Consumer Electronics
• Mobile Phones
• Tablets
• Others
• Wireless Communication
• Automotive
• Others

By Companies

• Murata Manufacturing
• Skyworks
• RDA Microelectronics
• AVAGO Technologies
• Triquint Semiconductors
• ANADIGICS
• Mitsubishi Electric
• WIN Semiconductors
• RF Micro Devices
• TDK Corporation
• NXP Semiconductors