by Radio frequency (RF) power semiconductors are widely used in applications like 5G infrastructure, telecommunications, and military wireless communications. RF power semiconductors play a crucial role in applications demanding high power and efficiency at microwave and millimeter-wave frequencies. They enable signal transmission and amplification in devices like power amplifiers of mobile phones and base stations. 5G promises higher speeds, broader bandwidths, and lower latency, enabling new applications. Deployment of 5G networks has been rising globally requiring higher bandwidth and faster data transmission, increasing utilization of power semiconductors. As 5G rollouts proceed, demand for RF power semiconductors is likely to grow substantially due to the increasing need for connectivity and network densification.
The global RF Power Semiconductor Market is estimated to be valued at US$ 20.35 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for RF power semiconductors stems from one key trend – rising adoption of 5G technology globally. 5G promises higher speeds, larger capacities, and lower latencies enabling new applications like autonomous driving, smart manufacturing, telemedicine, and virtual/augmented reality. Deployment of 5G aims at delivering peak data speeds of around 20 Gbps with latency of less than 1 ms as compared to 4G networks. However, realizing the true potential of 5G necessitates deployment of low-latency, high-bandwidth infrastructure requiring extensive use of RF power semiconductors in applications like power amplifiers of base stations. Major economies worldwide have been considerably increasing their 5G infrastructure investments driving the need for RF power semiconductor solutions supporting network densification and higher spectrum availability. This in turn is estimated to propel the RF power semiconductor market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The RF power semiconductor market requires high investments in R&D as well as manufacturing facilities which acts as a barrier for new players. Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of multiple vendors offering similar RF power semiconductor solutions. However, differentiated offerings and innovations help vendors maintain pricing power. Bargaining power of suppliers: Few companies dominate the supply of raw materials for RF power semiconductors like gallium nitride and silicon carbide which gives them some bargaining power over vendors. Threat of new substitutes: Although integrated circuits and materials like graphene are emerging, RF power semiconductors still have an advantage due to their superior performance and higher power handling capabilities. Competitive rivalry: Being a highly specialized market, vendors focus on innovations, building application-specific portfolios and global expansion to maintain an edge over peers.
Key Takeaways
The global RF Power Semiconductor Market Growth is expected to witness high growth.
Regional analysis:
North America dominates the market currently due to wide adoption of 5G networks for applications across various industries. Asia Pacific is expected to witness the fastest growth due to increasing investments in telecommunications infrastructure and growing adoption of IoT devices. Countries like China, Japan and South Korea are major manufacturing hubs for telecom equipment.
Key players:
Key players operating in the RF power semiconductor market are Stanley Black & Decker,Milwaukee Tool,DEWALT,Techtronic Industries,Robert Bosch GmbH,Cooper Industries,Honeywell International Inc.,3M,Larson Electronics,Streamlight Inc. These players focus on product innovations and global expansions to strengthen their positions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
