The RF power semiconductor is an essential component used in wireless communication applications like cellular phones and 5G infrastructure. Some of the key applications of RF power semiconductor includes base station amplifier, LAN access point, cable modem termination system, fiber-to-the-home system, and others. RF semiconductors are used in electronic devices to amplify, transmit and switch radio frequency signals with the help of field-effect transistors like MOSFET and HEMT. The global RF power semiconductor market is dominated by multinational companies located in the United States, Europe and Asian countries like China, Japan and South Korea. The increasing adoption of 5G technology and proliferation of IoT devices is driving the demand for mobile network infrastructure which in turn is facilitating the growth of RF power semiconductor market. The global RF power semiconductor Market is estimated to be valued at US$ 20.35 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The RF power semiconductor market size is expected to be flourished by the rising demand for 5G infrastructure development across the globe. 5G infrastructure requires advanced RF power semiconductor devices to amplify signals and ensure effective signal transmission between the base station towers and mobile devices. It is estimated that nearly 55% of cellular data traffic will be carried by 5G networks by 2023 which will further stimulate the RF power semiconductor market growth during the forecast period. Another driver for this market is increasing adoption of Internet of Things (IoT) technology. IoT connects various wireless devices using communication technologies like 3G, 4G and upcoming 5G. This will translate into higher adoption of RF power semiconductor integrated circuits in communication equipment and end-user devices used in IoT networks. Rapid deployment of IoT and proliferation of connected devices worldwide is creating ample growth opportunities for RF power semiconductor vendors.
The RF power semiconductor market can be segmented based on product type into RF power amplifier, RF power transistor, RF power modules. Among these, the RF power amplifier segment dominates accounting for over 35% share owing to rising demand for power amplifiers in various communication devices. It is widely used in cellular infrastructure, radar transmitters systems, satellite communication systems.
Political: Growth of this market is driven by government regulations related to technology modernization of communication infrastructure. Support for 5G deployment in various countries creates new opportunities.
Economic: The global economy witnesses growth in wireless communication sector, consumer electronics, automotive electronics boosting this market. Defense budget allocation in developed nations influences demand from military, aerospace, navy applications.
Social: Increasing smartphone and wireless device penetration, demand for high speed internet drives this market. Factors like digitization, smart cities, automation increases demand for RF powers.
Technological: Advancements in 5G network roll-out, multi-band operations, narrowband IoT boosts this market. Developments in manufacturing processes helps deliver efficient RF power solutions for various applications.
The global RF power semiconductor market is expected to witness high growth.
Regional analysis: North America holds the largest share of over 30% attributed to strong presence of key players and established telecom infrastructure. Europe is the second largest market with focus on 5G network expansion. Asia Pacific is the fastest growing region on back of increasing demand from communication and transportation sector.
Key players operating in the RF power semiconductor market are Stanley Black & Decker,Milwaukee Tool,DEWALT,Techtronic Industries,Robert Bosch GmbH,Cooper Industries,Honeywell International Inc. Key players like Infineon Technologies, Qorvo, Broadcom are continuously investing in R&D to gain competitive advantage through innovative product launches. Increased focus on acquiring smaller players to expand their capabilities is also observed.