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The millimeter wave and microwave RF transceiver market size is forecast to increase by USD 2.61 billion, at a CAGR of 7.37% between 2022 and 2027. Market expansion hinges on multiple factors, notably the soaring reliance on smartphones as everyday tools, accelerating the adoption of cutting-edge LTE wireless networks, and the emergence of carrier aggregation technology. The proliferation of smartphones fuels the demand for faster and more reliable connectivity, making the rollout of advanced LTE networks crucial. Carrier aggregation, a pivotal aspect of LTE-A technology, aggregates multiple carriers to enhance data speeds and capacity. This synergy of smartphone utilization, advanced wireless infrastructure, and innovative technology like carrier aggregation propels market growth, underlining the ever-evolving landscape of mobile communication and connectivity.
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This market report extensively cover market segmentation by application (mobile phones, tablets, PCs and laptops, smart TVs, and set-top boxes) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The Market is driven by the demand for high data transfer rates and low-latency communication in 5G networks. These technologies serve as essential enablers for various applications such as video streaming, autonomous vehicles, and augmented reality. With the advent of Terragraph (TG) certified devices and advancements in wireless technologies, faster data transfer rates are achieved, benefiting Mobile phones, Tablets, Smart TVs, PCs, Laptops, and Set-top boxes. However, challenges like atmospheric absorption and spectrum constraints remain, impacting telecommunication infrastructure and wireless connectivity solutions.
The advent of carrier aggregation is one of the key drivers in the global market. Carrier aggregation combines two or more bands to increase upload and download speeds. Transceiver chips in mobile devices and cellular network infrastructure are required to support carrier aggregation technology in upcoming LTE and 5G networks. Carrier aggregation pioneered the introduction of LTE technology.
Furthermore, RF signals are transmitted and received using transceiver chips embedded in RF modules. The advent of carrier aggregation has forced transceiver chip producers to improve and upgrade their offerings to meet original equipment manufacturers' requirements. Hence, the advent of carrier aggregation is expected to drive the growth of the market during the forecast period.
The introduction of the coax transceiver chip is the primary trend in the global market. Microchip Technology, a supplier in the global transceiver chip market, has introduced a new coaxial transceiver chip called OS82150. It is also working to expand its portfolio of MOST150 networking solutions. This chip will facilitate the transition from using fiber to coax. It includes the integration of the coaxial cable driver and coaxes receiver in a quad-flat wireless low profile (QFN) package.
Additionally, the new offer is made according to the needs of the automotive industry market. These transceivers are used in automotive infotainment systems including navigation devices, antenna modules, amplifiers, tuners, Blu-ray players, entertainment systems, and the camera. The receiver also includes equalization assuring customers of a strong and reliable network connection and easily adapting to different cables, minimizing the impact of cable loss in the long run. Thus, new supply is expected to have a positive impact on the market during the forecast period.
Millimeter wave signal distortion due to atmospheric conditions is the challenge that affects the growth of the market. Millimeter waves are prone to distortion because of atmospheric conditions that affect their throughput rates. 60 GHz waves are also affected by oxygen molecules. Rainfall, humidity, and atmospheric oxygen uptake are some of the factors that affect the millimeter wave range. In addition, effective millimeter wave communication requires a line of sight between the transmitter and receiver. The line of sight between the two proposed antenna locations will be affected if the millimeter-wave link is expected to operate over a very long path.
Moreover, it may also be affected by other wireless technologies and weather conditions, such as rain and fog. This can affect the effective communication between sender and receiver. Signal distortion is a major challenge for players because millimeter wave technology relies on strong signal reception. Thus, distortion of millimeter wave signals due to atmospheric conditions is a challenge that will impede market growth during the forecast period.
The Market is at the forefront of wireless technologies, particularly in radio frequencies and the millimeter wave band. These advancements are crucial for achieving high data transfer rates and lower latency, essential for applications like video streaming, autonomous vehicles, and augmented reality. Key devices driving this market include Mobile phones, Tablets, Smart TVs, PCs, Laptops, and Set-top boxes, all leveraging LTE wireless networks and 5G communication for enhanced connectivity. The integration of Internet of Things (IoT) devices with sensors and actuators further enhances imaging capabilities and supports high-bandwidth applications.
The market share growth by the mobile phones segment will be significant during the forecast period. Raised use of the Internet across the globe drives the growth of the segment. Internet-connected smartphones can be used for a number of purposes, including reading news, accessing social media applications, surfing the web, and checking email. The growth of IoT is also a major factor driving the growth of the market. The majority of IoT devices are controlled by apps installed on smartphones and tablets. Transceivers play an important role in transmitting and receiving signals. They are essential components of mobile phones and IoT devices.
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The mobile phones segment showed a gradual increase in the market share of USD 2.33 billion in 2017 and continued to grow by 2021. The mobile phone microwave and millimeter wave RF transceiver market is expected to witness a declining YoY growth during the forecast period. One of the main reasons for the decline in sales was the decrease in the average selling price (ASP) of transceivers in smartphones and the high price war between the market players. The global smartphone market has seen a large number of new entrants. Demand for transceivers is expected to grow along with more players entering the mobile phone market. Hence, this will drive the growth of the market during the forecast period.
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APAC is estimated to contribute 56% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The presence of many consumer electronics manufacturers, including SAMSUNG, LG Electronics, Sony, Micromax, MI, and other Chinese manufacturers, creates a strong demand for transceiver chips in APAC. Rapid economic growth in China and India is one of the key factors behind the strong demand for consumer electronics in these countries. China's electronics demand exceeds domestic production. The growing semiconductor and consumer electronics industries in the region are expected to provide significant growth opportunities for the thriving global market during the forecast period.
The Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative market research and growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. In market growth analysis, data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
The Market is experiencing rapid growth driven by advancements in Internet of Things (IoT) technology, the proliferation of sensors and actuators, and the evolution of LTE Advanced networks. Data consumption trends, especially in commercial networks managed by companies like Verizon Communications, are pushing the boundaries of telecom firms to adopt LTE and 3G interference solutions. This technological convergence is evident in Wearable technology and Terragraph (TG) certified devices, leveraging millimeter-wave solutions for higher data transfer rates and low-latency communication.
Moreover, millimeter wave frequencies are essential for 5G communication, powering applications like autonomous vehicles, augmented reality, and Advanced Driver-Assistance Systems (ADAS). These high-bandwidth applications benefit from millimeter wave sensors adopted in medical imaging, security, and defense industries. Semiconductor technologies play a crucial role in developing antennas and transceivers for multi-gigabit-per-second data rates, enabling high-capacity, low-latency networks. Furthermore, the Market focuses on wireless transmission solutions for mission-critical applications in healthcare, defense, and automotive radar systems. As high-performance communication networks demand reliability and efficiency, companies innovate in wireless connectivity solutions, ushering in an era of high-speed wireless networking and point-to-point communication links across diverse industries.
Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Decelerate at a CAGR of 7.37% |
Market growth 2023-2027 |
USD 2.61 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.74 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 56% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Analog Devices Inc., Broadcom Inc., Cisco Systems Inc., GCT Semiconductor Inc., Lime Microsystems Ltd., MediaTek Inc., Microchip Technology Inc., Millimeter Wave Products Inc., Norden Millimeter Inc., NVIDIA Corp., NXP Semiconductors NV, Phi Microtech Co. Ltd., Qorvo Inc., Qualcomm Inc., Renaissance Electronics and Communication LLC, Renesas Electronics Corp., RF Microtech srl, Silicon Motion Technology Corp, Skyworks Solutions Inc., and STMicroelectronics International N.V. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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