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Radio Frequency Integrated Circuit Market to Grow at 8% CAGR Aided by Worldwide Deployment of LTE and 5G Networks: Future Market Insights Survey
Increasing deployment of next-generation wireless networks such as Long-Term Evolution (LTE) and 5G networks is one of the primal factors propelling the demand for RFIC. Rising adoption of LTE networks across the globe has compelled electronic device and semiconductor manufacturers to utilize novel RFICs to make their products compatible with these networks. This will create an opportunities for the growth of the RFICs market in the coming years.
The demand for RFIC will grow at a swift pace owing to the proliferation of consumer electronic devices such as laptops, personal desktops, mobile phones, and data communication systems among others. As RFICs play a significant role in improving efficiency and high-frequency rectification, the increasing number of telecommunication devices and internet users will create lucrative sales opportunities for RFIC over the forecast period.
Consumer electronics industry is likely to dominate the application segment, accounting for 29% of demand for RFIC in 2031. Besides this, application in medical devices will continue increasing at CAGR of 9.4% between 2021 and 2031.
says the FMI analyst.
Leading players operating in the RFIC market are aiming at establishing strategic collaboration and acquisition with other market players to expand their market share and to cater to the increasing demand of an expanding customer pool. For instance,
Some of the key players operating in the radio frequency integrated circuit market profiled by FMI are:
https://www.futuremarketinsights.com/checkout/7083
FMI, in its new report, offers an unbiased analysis of the global radio frequency integrated circuit market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in radio frequency integrated circuit market with detailed segmentation:
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