How Is Booming Mobile Phone Sales Supporting RF Transceiver Market Growth?
The surging adoption of mobile communication technologies, such as 5G and 4G, burgeoning demand for mobile devices, and rising adoption of the internet of things (IoT) technology will propel the radiofrequency (RF) transceiver market at a CAGR of 0.8% during the forecast period (2020–2030). The market was valued at $3,892.1 million in 2019 and it is projected to reach $3,384.5 million revenue by 2030, on account of the decline in the prices of RF transceivers. In recent years, the escalating demand for wideband transceivers has become a prominent market trend.
One of the key growth drivers for the market is the escalating usage of mobile phones across the world. According to the International Telecommunication Union (ITU) World Telecommunication Database, in 2019, 7.98 billion people across the world were using mobile phones. In recent years, these devices have rapidly penetrated the developing countries, such as India and China, due to their prospering economies, escalating disposable income of people, and growing public awareness of connected devices and new technologies.
Browse detailed - RF Transceiver Market Revenue Estimation and Growth Forecast Report
Currently, the RT transceiver market is highly consolidated and competitive, with the presence of several global players. Some of the key players in the market are Skyworks Solutions Inc., Fujitsu Ltd., Telefonaktiebolaget LM Ericsson, ZTE Corporation, Qualcomm Incorporated, Huawei Technologies Co. Ltd., Broadcom Inc., Murata Manufacturing Co. Ltd., Qorvo Inc., Nokia Corporation, STMicroelectronics N.V., NXP Semiconductors N.V., Analog Devices Inc., ON Semiconductor Corporation, Texas Instruments Incorporated, Samsung Electronics Co. Ltd., and Infineon Technologies AG.
Categories under the application segment of the RF transceiver market are mobile devices, embedded modules, add-on cards, routers, and others, such as gaming and customized devices. Under this segment, the mobile devices category generated the highest revenue in 2019, due to the burgeoning reliance of people on wireless communication networks. Moreover, the rapid adoption of mobile phones in Asia-Pacific (APAC) countries, such as Japan, India, and China, is also facilitating the growth of this category.