As per a detailed analysis by Market Research Future (MRFR), the RFIC (RFIC) market is predicted to garner 10.4% CAGR during the forecast period (2018-2023). The surging adoption of IoT is favoring the growth of the market across the globe. RFIC or RFIC can be defined as a chip which transmits and receives radio waves. They are extensively used in portable devices like Wi-Fi devices, cellphones, wireless base stations, wireless routers, satellite transceivers, telephones, and microwave equipment. They are the elementary units for components which helps in the long-range connectivity like LTE networks and short-range connectivity, including Wi-Fi and Bluetooth.
Market Potential and Pitfalls
The RFIC (RFIC) market has witnessed a spike in its growth in the past few years due to the surging adoption of IoT in the global market. The adoption rate of IoT is increasing, especially in the developed economies like the U.K., U.S., and Japan, and also in developing countries like India and China. The surging adoption of IoT in these regions is anticipated to promote the growth of the market across the globe. The growing development of next-generation LTE wireless networks is further influencing the market growth. Moreover, the worldwide proliferation of LTE networks has forced the electronic and semiconductor device manufacturers to integrate into RCIFs. RFIC has become one of the most important components in the wireless infrastructure due to high operating and reliability frequencies. It is extensively used in manufacturing components like transceivers, power amplifiers, Bluetooth chips, Wi-Fi chips, NFC, and others. The increased demand for wireless infrastructure has further propelled the growth of the market across the globe. Due to the augmented demand from the manufacturers of tablets and smartphones, power amplifiers and transceivers are the prime revenue contributing products in the global market.
On the contrary, the major challenges faced by the market is to meet the surging demand from the end-users for RFICs with higher performance, low power consumption, and smaller size ICs.
Global RFIC (RFIC) Market: Segmental Analysis
The RFIC (RFIC) market has been segmented on the basis of vertical and application.
By mode of application, the RFIC (RFIC) market has been segmented into the transceiver, power amplifier, Bluetooth, wireless USB, Wi-max, Wi-Fi, a global positioning system (GPS), ZigBee, radio frequency microelectromechanical system (RF Mems), near-field communication (NFC), and others. With the increasing demand for LTE-based tablets due to the developing next-generation LTE wireless networks, the market is predicted to flourish. These factors have a positive impact on the adoption of RF power amplifiers.
By mode of vertical, the RFIC (RFIC) market comprises automotive, consumer electronics, government and defense, and others. Among these, the consumer electronics segment is likely to gain prominence owing to the surging demand from the consumer electronics manufacturers.
Regional Insights
Geographically, the RFIC market span across regions, namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Considering the global scenario, the North American region is predicted to acquire the largest market share. The region has the presence of one of the most highly developed semiconductor and consumer electronics sectors in economies like Canada and the U.S. This further triggers the demand for RFIC across the globe.
The Asia Pacific region follows North America in terms of revenue generation. The region is advancing in terms of technology, which is contributing to the market’s growth. The region also has a large customer base and steadily expanding semiconductor and electronics industry. The presence of several RFIC manufacturers in countries like China and Japan is considered to influence the market growth. In this region, China is anticipated to expand at the highest CAGR, which further contributes to its growth.
Industry Updates
April 22, 2019: An industry bigshot in Radio Frequency Identification Ultra High-Frequency products and services, Alien Technology has recently announced the Higgs-9 IC. It is the first release of its next-generation of Higgs RFID semiconductor integrated circuits.
Competitive Dashboard
The prominent players operating in the global RFIC (RFIC) market comprises Cree, Inc. (the US), Qualcomm Technologies Inc. (US), Infineon Technologies AG (Germany), Silicon Laboratories (US), Qorvo, Inc. (the US), STMicroelectronics (Switzerland), Peak RF (UK), OctoTech Inc. (US), Analog Devices, Inc. (US), Skyworks Solutions Inc. (US), Broadcom Inc. (US), and NXP Semiconductors (the US).
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