The global RFIC market is growing at a CAGR of 8.4% during the forecast period due to the increasing demand from emerging economies, increasing adoption of IoT solutions and increasing internet penetration across the globe. The RFIC circuits are extensively being utilized for performing functions such as signal filtering, frequency conversion and amplification.
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Market Segmentation
On the basis of product, the RFIC market is segmented into transceivers, wireless USB, Wi-Fi, ZigBee, NFC, bluetooth, RF MEMS, Wi-MAX, power amplifiers, mobile TV, GPS, and others. Among all of these segments, power amplifiers hold the largest share in the market. Moreover, it has been observed that transceivers are expected to witness significant demand during the forecast period due to increasing requirement of small multichip packaging for small electronic devices.
Insight by Application
Based on application, the market is categorized into mobile, tablet and others, of which the mobile category is the largest contributor and also predicted to witness the highest growth during the forecast period. The high demand for RFIC in mobile devices is primarily due to the increasing internet penetration and number of smart phone users, and increasing adoption of connected devices.
Geographic Overview
Geographically, Asia-Pacific is the largest RFIC market across the globe and is also predicted to witness significant growth during the forecast period. The presence of large number of OEMs in the region, increasing internet penetration, and increasing automation in supply chain management are leading to the high demand for RFIC technology in the region. The RFIC market in Latin America and Middle East and Africa will also witness significant growth in the coming years owing to the large unexplored territories and developing information and communication technology infrastructure in the region.
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Competitive Insight
The key players operating in the RFIC market include Infineon Technologies AG, TriQuint Semiconductor, Qualcomm Technologies, Inc., Skyworks Solutions, Inc., NXP Semiconductors N.V., Silicon Laboratories Inc., Avango Technologies, STMicroelectronics NV, and Renesas Electronics Corporation.
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