RFIC Market size
The global RFIC market is benefitting much from the advancements in electronic devices. Its application in myriad types of devices like Wi-Fi devices, cellphones, wireless base stations, wireless routers, satellite transceivers, telephones, and microwave equipment gives it a wider operational base which can help in furthering of the RFIC market profit. The RFIC market size is expected to have 10.4% CAGR during the forecast period (2018-2023).
The RFIC industry is enjoying wide-scale demand from several sectors like automotive, defense, consumer electronics and others. In automotive sector, security technologies, vehicle-to-vehicle connection, and automated driving technology are segments that call for wider percolation of the RFIC technology. The advent of smart cars is expected to further fuel the market. Other than this, the power amplifiers, Wi-Fi, and transceivers are expected to drive the market further. It would further get bolstered by the growing intake of smartphones and tablets. In addition, the inclusion of IoT is expected to contribute much to the progress of RFIC market Countries such as China, the U.K., Japan, and the U.S. can further ease the path of progress for the market.
Segmentation:
MRFR’s take on the global RFIC market includes application and vertical for a segmentation-wise study. This has been strengthened by the data both volume-wise and value-wise.
Based on the application, the global RFIC includes transceiver, power amplifier, Bluetooth, wireless USB, Wi-max, Wi-Fi, Global Positioning System (GPS), ZigBee, radio frequency microelectromechanical system (RF Mems), Near-field communication (NFC), and others. The Wi-Fi segment and GPS system are gaining substantial mileage owing to their increasing utility by commoners. The increasing number of smartphone users is also helping the global market earn better backup for growth.
Based on the vertical, the global RFIC market integrates consumer electronics, automotive, government & defense, and others. The global electronics segment is gaining good grounds and is expected to bolster the market prospect during the forecast period.
Regional Analysis:
Geographically, the global RFIC market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). This segmentation, conducted by MRFR, focuses much on the regional growth for a better identification of the growth pockets and understanding of prospects in the coming years.
North America owns the maximum part of the global market and it is getting largely driven by the U.S. who has almost 80-85% market under its control. Several of the global players function from the region which gives it an advantage over the rest.
The APAC market is witnessing rapid growth due to the increasing participation from China, Japan, and Taiwan. The regional market is expected to clock the fastest CAGR speed during the forecast period. Among the countries, China is expected to reign supreme with maximum market coverage. Japan would also showcase substantial rise. The regional market is benefitting from the advanced technologies at work and cheap labor which is increasing the profit margin.
Browse Complete Report "RFIC Market Research Report - Global Forecast till 2023" @ https://www.marketresearchfuture.com/reports/radio-frequency-integrated-circuit-market-7420
