Market Analysis 

The global radio frequency integrated circuit market will touch USD 19.39 billion at a 16.00% CAGR by 2032, as per the latest Market Research Future report.

Key Players 

Eminent industry players profiled in the global radio frequency integrated circuit market report include Qualcomm Technologies Inc.

• Silicon Laboratories
• Cree Inc.
• Infineon Technologies AG
• Qorva Inc.
• STMicroelectronics
• Peak RF
• OctoTech Inc.
• Analog Devices Inc.
• Skyworks Solutions Inc.
• Broadcom Inc.
• Semiconductor (USA).

Key players have incorporated several strategies to stay ahead such as new product launches, mergers and acquisitions, partnerships and agreements, and more.

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Drivers 

Proliferation of Wireless Connectivity to Boost Market Growth 

The proliferation of wireless connectivity will boost market growth over the forecast period. This includes Wi-Fi, IoT, and 5G. RFICs are critical to allow wireless communication across different networks and devices. 

Opportunities 

Increasing Adoption in Healthcare to offer Robust Opportunities 

The increasing adoption of radio frequency integrated circuit in the healthcare domain will offer lucrative opportunities for the radio frequency integrated circuit market in the forecast period. RFICs are utilized in the medical devices like wireless health monitoring system and MRI machines, is propelling the need in the healthcare sector. 

Restraints and Challenges 

High Initial Cost to act as Market Restraint 

The high initial cost of RFICs and dearth of international standardization may act as market restraints over the forecast period.

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Market Segmentation 

The radio frequency integrated circuit market is bifurcated based on vertical and application.

By application, transceiver will lead the market over the forecast period.

By vertical, automotive will domineer the market over the forecast period.

COVID-19 Analysis 

The COVID-19 epidemic possessed a mixed impact on the radio frequency integrated circuit market. On the one hand there was supply chain disruptions, delayed product launches and demand fluctuations. On the other, the shift towards remote work & increased dependency on online connectivity fueled the need for RFICs utilized in networking devices and equipment, offsetting the negative impacts. Besides, the rollout of the 5G network continued irrespective of the epidemic, boosting the demand for RFICs in the 5G devices and infrastructure. 

Regional Analysis 

North America to Head Radio Frequency Integrated Circuit Market 

North America will head the radio frequency integrated circuit market over the forecast period for the growing need for high bandwidth, high-frequency wireless communication. Various RFIC producers within the US are focusing to secure contracts with the S&T organization for meeting the growing need for the sophisticated RFIC features. 

APAC to Have Admirable Growth in Radio Frequency Integrated Circuit Market 

The APAC region will have admirable growth in the radio frequency integrated circuit market over the forecast period. The existence of several OEMs within the region, rising internet penetration, & rising automation in the supply chain management are adding to the growth of the market in the region.

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