July 24, 2024
Trends, Size and Share Analysis

Radio Frequency Generator Market is Estimated to Witness High Growth Owing to Rising Application in Medical Industry

The Radio Frequency Generator Market is estimated to be valued at US$ 1.25 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Radio frequency generators are devices that produce radio frequency alternating currents of varying frequencies within the radio frequency band. They supply power to various electronic components and systems that operate at radio frequencies. The most common applications are for medical imaging devices, semiconductor manufacturing, industrial processing equipment, and communication systems. Radio frequency generators offer advantages such as high efficiency, reliability, accuracy and precision.

Market key trends:
One of the major trends driving the growth of the radio frequency generator market is increasing application in the medical industry. Radio frequency generators are used in devices like MRI scanners, diathermy machines, and hyperthermia therapy equipment for medical imaging and treatment purposes. The rising prevalence of lifestyle diseases and growing geriatric population are expected to witness higher demand for medical imaging devices using radio frequency generators. According to the World Health Organization, non-communicable diseases accounted for nearly 71% of global deaths in 2016. Furthermore, technological advancements in radio frequency generators and growing investments by key players are also supporting the market growth over the forecast period.

The Global Radio Frequency Generator Market Size is estimated to be valued at US$ 1.25 Bn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Porter’s Analysis
Threat of new entrants: The radio frequency generator market has moderate threat of new entrants due to high initial capital requirements and the presence of established players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and differentiated products offered by vendors.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as most components used in manufacturing radio frequency generators are available and there are many suppliers in the market.
Threat of new substitutes: The threat of substitutes is low as radio frequency generators have multiple applications and there are limited product substitutes.
Competitive rivalry: High due to presence of numerous global players.

SWOT Analysis
Strengths: Wide application areas across telecommunication, healthcare, aerospace & defense etc. Technological advancements leading to compact designs.
Weaknesses: High initial costs. Require skilled workforce to operate.
Opportunities: Growing adoption of 5G networks and increasing investments in R&D. Emerging applications in new industries will drive opportunities.
Threats: Economic slowdowns impacting investments. Intense competition from local and regional players.

Key Takeaways
The global radio frequency generator market is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing investments in telecommunication sector for 5G deployments across North America and Asia Pacific.

Regional analysis: North America dominated the market with over 30% share in 2023 due high demand from aerospace & defense sector. Asia Pacific is expected to grow at fastest pace during the forecast period supported by increasing investments in 5G infrastructure rollouts and growing industrial automation in China, India & Southeast Asian countries.

Key players operating in the radio frequency generator market are Keysight Technologies Inc., Rohde & Schwarz GmbH & Co. KG, Agilent Technologies, Inc.,Anritsu Corporation, TDK-Lambda Corporation, Advanced Energy Industries, Inc., Tektronix, Inc., Amplifier Research (AR),Thales Group, Teradyne, Inc., National Instruments Corporation, AMETEK, Inc., Boonton Electronics (Wireless Telecom Group), Electronics & Innovation, Ltd., NoiseXT.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it