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The radio frequency (RF) signal generator market is anticipated to experience substantial growth, projected at a Compound Annual Growth Rate (CAGR) of 7.25% between 2023 and 2028, with an estimated market size to increase by USD 677.64 million. This market is structured in a fragmented manner, exhibiting a Year-over-Year (YoY) growth of 6.85% in 2023-2024. In the regional breakdown, this analysis includes APAC, North America, Europe, South America, and the Middle East and Africa,with APAC contributing significantly, standing at 38%. Key countries propelling this market include the US, China, Japan, Germany, and UK.
An RF signal generator is an electronic device used to generate waveforms and electronic signals. RF signal generators produce continuous wave tones, which are used for designing, testing, troubleshooting, and repairing electronic devices and components. The capacity of RF signal generators ranges from a few kHz to 40 GHz.The growth of the market depends on several factors, including the increasing partnerships between vendors and value chain members, the rising investment in LTE-A in rural areas, and the growing number of manufacturing units globally.
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Increasing partnerships between players and value chain members is the key factor driving market growth. The global radio frequency (RF) signal generator market players are establishing strategic partnerships with value chain members to gain insights on the developments and upgrades of ISO standards across industries, particularly in the telecommunication industry. The need for higher bandwidth applications across all industries is leading to the upgrade of wired and wireless communication standards. Strategic partnerships enable RF signal generator manufacturers to upgrade and develop sophisticated equipment that meets the need for testing receivers, test systems, and electronic components across different industries.
For instance, in July 2020, Keysight Technologies Inc. announced that its 5G test solutions were selected by SK Telecom Co. Ltd. (SK Telecom) to launch its 5G smartphone services. Such collaborations will enable players in the value chain to invest in upcoming technologies and conduct advanced R&D of newer products. This is expected to increase the demand for RF signal generators among players across the value chain as RF signal generators are used for testing components and electrical systems, which in turn will drive the growth of the market during the forecast period.
Increasing demand for outsourcing is the primary trend shaping market growth. The evolution of technologies and the commercialization of 5G by 2021 will raise the need for checking the signal frequency, quality, and strength of cellular networks. The quality testing of network (RF) signals will increase the demand for RF signal generators to ensure the enhancement of services and connectivity. RF signal generator market players have started outsourcing the test and quality check departmental process to save time as well as to improve their efficiency.
Furthermore, in the semiconductor industry, the development of new technologies has increased the outsourcing of back-end processes. RF signal generator market players directly sell their products to equipment manufacturing firms and T&M quality check firms to whom the testing of hardware is outsourced. Thus, outsourcing will increase the adoption of RF signal generators, which will drive the growth of the market during the forecast period.
The rise in demand for rental test equipment is a challenge that affects market growth. The high ASP of RF signal generators has accelerated the demand for used and rental RF signal generators for T&M purposes. Industries such as aerospace and defense, telecommunication, and semiconductors, which extensively use RF signal generators, are capital-intensive in nature. Several vendors in the global radio frequency (RF) signal generator market have partnered with various companies that provide T&M equipment on a rental or lease basis.
Moreover, though this business model generates revenue for RF signal generator manufacturers, it is affecting the demand for new RF signal generators. This is expected to adversely affect the revenue inflow of market players, which could result in low profit margins, which may negatively impact the growth of the global market in focus during the forecast period.
The market share growth by the telecommunications segment will be significant during the forecast period. RF signal generators are highly dependent on the growth of the telecommunications industry. For any upgrade in wireless technologies, setting up signal towers, or testing various wireless communication channel deployments, RF signal generators are used. RF signal generators generate signals in different frequencies, which are used as input signals for testing any type of wireless communication channel or any components of signal towers.
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The telecommunications segment showed a gradual increase in the market share of USD 421.02 million in 2018. The wireless industry offers massive growth opportunities to RF signal generator market players. Furthermore, an increase in the launch of new products with increased bandwidth will fuel the adoption of RF signal generators for the testing and measurement of 5G connections and LTE connections. Therefore, such factors will drive the growth of the radio frequency signal generator market in the telecommunications segment during the forecast period.
The demand for radio frequency (RF) signal generators through offline distribution channels is driven by several factors that cater to customers who prefer in-person interactions, personalized service, and hands-on product demonstrations. Offline distribution channels establish a local presence in regions where online accessibility may be limited, ensuring that customers in these areas have easy access to RF signal generators. Hence, such factors collectively contribute to the demand for RF signal generators through offline distribution channels, which may drive the growth of the radio frequency signal generator market during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC has the highest concentration of consumer electronic device manufacturers and electronic component manufacturers. The increasing disposable income and urbanization in APAC are driving the demand for consumer electronic devices in the region. Furthermore, the rapid urbanization and industrialization in emerging economies, such as India and China, will accelerate the adoption of automation solutions in various manufacturing industries, especially the automotive and food and beverages industries. Thus, such factors will boost the growth of the radio frequency (RF) signal generator market in the APAC region during the forecast period.
In 2020, the outbreak of COVID-19 negatively affected the radio frequency signal generator market in APAC. However, in 2021, the initiation of large-scale vaccination drives?has lifted the lockdown restrictions. Furthermore, the development and manufacturing of medical devices, including those used for diagnostic and treatment purposes, may require RF signal generators for testing and validation. The demand for such devices increased during the pandemic, and their production often necessitates RF signal generators for quality control and compliance testing, which in turn will have a positive impact on the regional radio frequency (RF) signal generator market during the forecast period.
The Radio Frequency (RF) Signal Generator 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.
Global Radio Frequency (RF) Signal Generator 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 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. 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 radio frequency (RF) signal generator market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2022.
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Radio Frequency (RF) Signal Generator Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.25% |
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Market growth 2024-2028 |
USD 677.64 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.85 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 38% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aaronia AG, Aim and Thurlby Thandar Instruments, Anritsu Corp., B and K Precision Corp., Berkeley Nucleonics Corp., DS INSTRUMENTS, Fortive Corp., Keysight Technologies Inc., Maury Microwave Corp., National Instruments Corp., Novatech Instruments, Pico Technology Ltd., RF Lambda, Rigol Technologies Inc., Rohde and Schwarz GmbH and Co. KG, Saluki Technology Inc., Signalcore Inc., Teledyne Technologies Inc., Texas Instruments Inc., and Vaunix Technology Corp. |
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Market dynamics |
Parent market analysis, 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. |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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