RF Components Global Market Report 2024

The RF components market size has grown rapidly in recent years. It will grow from $31.02 billion in 2023 to $36.11 billion in 2024 at a compound annual growth rate (CAGR) of 16.4%. TThe growth in the historic period can be attributed to the proliferation of wireless communication, the boom in mobile devices, the growth of consumer electronics, increased applications in military and defense, and the expansion of telecommunication networks.

The RF components market size is expected to see rapid growth in the next few years. It will grow to $67.65 billion in 2028 at a compound annual growth rate (CAGR) of 17.0%. The projected growth in the forecast period in various industries can be linked to distinct factors such as advancements in space exploration and satellite communication, the integration of connected and autonomous vehicles, the implementation of smart manufacturing practices, challenges in supply chain management, and semiconductor shortages affecting multiple sectors. These elements collectively contribute to the expansion and evolution of industries during the forecast period.

The growth of the RF components market is significantly influenced by the increasing penetration of robots, particularly driving rapid industrial automation. The adoption of robots plays a crucial role in this growth, utilizing wireless communication for swift and efficient information transmission. Various RF components such as RF transistors, amplifiers, diodes, and filters are integrated into industrial robots for wireless communication applications, contributing to a substantial demand for RF components. As per the World Robotics 2021 report by the International Federation of Robots, a Germany-based non-profit organization, the global count of industrial robots reached 3 million in 2021, marking a 10% increase from the previous year. The report also forecasts a notable rebound in global robot installations, with a projected 13% increase to 435,000 units in 2021. Consequently, the expanding presence of robots is expected to drive the growth of the RF components market in the foreseeable future.

The growth trajectory of the RF components market is further propelled by the increasing demand in consumer electronics. Consumer electronics encompass a wide range of electronic devices designed for everyday use, serving personal, entertainment, and communication purposes. RF components play a crucial role in consumer electronics, enabling wireless communication, Bluetooth and WiFi connectivity, remote control functionality, satellite communication, improved wireless audio, reduced cable clutter, and facilitating wireless data transfer and synchronization between devices. For instance, data from GFU Consumer & Home Electronics GmbH, a Germany-based electronics provider company, indicates sales of electronics products totaling $36.56 billion (Euro 33.7) from January to September 2022. This underscores the growing demand in consumer electronics, acting as a driving force for the RF components market.

The RF components market is witnessing a prominent trend centered around the development of advanced technologies. Key players in the RF components sector are strategically concentrating on the creation of technologically sophisticated products to fortify their market positions. For instance, in October 2021, Qualcomm Technologies, a semiconductor company based in the United States, introduced the Qualcomm ultraBAW RF filter technology designed for bands up to 7 GHz. This innovation is an integral part of Qualcomm's modem-to-antenna solution, empowering high-performance 5G and connectivity systems across various wireless product sectors. The Qualcomm ultraBAW RF filter technology enables 5G and Wi-Fi solutions to access spectrum up to 7 GHz, resulting in exceptional performance at higher frequencies.

Major companies in the RF components market are also actively introducing new products, such as high-frequency connectors, to gain a competitive advantage. High-frequency connectors are specialized electronic connectors engineered to operate at radio frequencies (RF) or microwave frequencies. In March 2023, Linx Technologies, a U.S.-based company specializing in wireless products, launched surface-mount RF switch connectors. These connectors are designed for applications such as test and measurement apparatus, diagnostic equipment, and others where high-frequency switching is crucial. Offered as part of the SWD and SWF series through approved TE Connectivity dealers such as Mouser Electronics, these connectors provide robust port isolation for enhanced data accuracy and operate within the frequency range of 0 Hz to 6 GHz.

In July 2022, TE Connectivity, a Switzerland-based provider of connectivity and sensors, acquired Linx Technologies for an undisclosed amount. This acquisition positions Linx Technologies' portfolio to complement TE's extensive connectivity portfolio, particularly in antennas and RF connectors for IoT. It expands TE's supply chain footprint as part of its ongoing efforts to enhance its IoT go-to-market capabilities. Linx Technologies, a U.S.-based supplier, specializes in providing RF components in IoT markets, with a portfolio encompassing RF modules and antennas.

Major companies operating in the rf components market report are Mitsubishi Electric Corporation, Taiwan Semiconductor Manufacturing Company Limited, Raytheon Technologies Corporation, MicroWave Technology Inc., Panasonic Corporation, Sumitomo Electric Industries Ltd., Arrow Electronics Inc., Fujitsu Limited, Broadcom Inc., Toshiba Corporation, Thales Group, Texas Instruments Incorporated, Murata Manufacturing Co. Ltd., TDK Corporation, Infineon Technologies AG, STMicroelectronics N.V., NXP Semiconductors N.V., Analog Devices Inc., Renesas Electronics Corporation, Microchip Technology Inc., Skyworks Solutions Inc., Qorvo Inc., ROHM Co. Ltd., Cobham Limited, MACOM Technology Solutions Holdings Inc., API Technologies Corp., Astra Microwave Products Limited, RFHIC Corporation, Cree Inc., RFaxis Inc., Vectrawave Corporation, Hybrid Electronics, Satellink Inc., Conard Corp., NuWaves RF Solutions, Coilcraft Inc.

North America was the largest region in the RF components market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rf components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rf components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

RF components encompass power amplifiers, antennae, switches, multiplexers, filters, modulators, demodulators, transistors, diodes, and other components. Power amplifier RF components function as tuned amplifiers influencing output signals, serving as the final block in an amplifier chain for applications in consumer electronics, automotive, military, wireless communication, and others.

The RF components market research report is one of a series of new reports that provides RF components market statistics, including RF components industry global market size, regional shares, competitors with an RF components market share, detailed RF components market segments, market trends and opportunities, and any further data you may need to thrive in the RF components industry. This RF components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The radio frequency (RF) components market consists of sales of radio frequency (RF) components including attenuators, couplers, dc blocks, phase shifters, tappers, and terminators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.