The global radio frequency integrated circuits (RFIC) market is expected to reach $53.2 billion by 2022, registering a CAGR of 6.7% during 2016–2022 (forecast period). The market is majorly driven by the growing deployment of the internet of things (IoT) technology in RFICs.
Based on the product, the transceiver category held the largest share in the RFIC market in 2015. The growth of IoT and rapid adoption of internet services in countries such as the U.S., China, India, and Brazil has been driving the sales of connected devices, and thus the demand for transceivers has increased significantly during the last few years.
During the forecast period, the Wi-Fi category is projected to witness a considerable CAGR in the RFIC market. This is attributed to the usage of internet applications, such as online search, social networking, e-commerce, and video sharing, that are increasingly gaining popularity in North America, Asia-Pacific (APAC), and Europe. Moreover, APAC was globally the largest market for Wi-Fi in 2015. Factors such as growing demand for free public Wi-Fi, increasing affordability of smart devices, public safety, and increase investments in the wireless technology are fueling the growth of Wi-Fi market in the region.
The near-field communication (NFC) category of the RFIC market is also expected to witness significant growth during the forecast period. The adoption of NFC RFICs would largely stem from the increasing usage of RFIC chips in smartphones. The growth in digital communication infrastructure and increased penetration of smartphones and tablet PCs among the middle-class consumers in developing countries, such as China and India, are expected to drive the NFC market over the forecast period.
Certain devices such as smartphones, desktop PCs and laptops used in IoT applications consist of RFICs for networking applications. The increasing demand for the IoT technology in China and India accelerates the global RFIC market growth. IoT is one of the defining and transformative technologies of the current time. In recent years, IoT has witnessed significant deployment in the healthcare sector in developing countries. It is already making huge efficiency and productivity gains in the industrialized world and also has potential for a greater and more significant impact in the developing world. For instance, IoT devices manage the traffic flow by regulating the lights based on the number of vehicles on the road. Similarly, sensors placed in homes can help warn residents of impending disasters such as fast-moving fires and mudslides, thereby helping save lives as well as personal property.
Explore Full Report at: https://www.psmarketresearch.com/market-analysis/frequency-integrated-circuits-market
Some of the key players operating in the RFIC market are NXP Semiconductors N.V., Infineon Technologies AG, Qualcomm Technologies Inc., Renesas Electronics Corporation, Silicon Laboratories Inc., STMicroelectronics N.V., TriQuint Semiconductor Inc., Avago Technologies Inc, and Skyworks Solutions Inc.
Global Radio Frequency Integrated Circuits (RFIC) Market Segmentation