The major factors leading to the rising demand for radiofrequency (RF) semiconductors are the increasing popularity of smartphones, enhancements in the wireless communication technologies, and escalating adoption of the internet of things (IoT). As a result, from $2.1 billion in 2019, the RF semiconductor market will witness an 8.8% CAGR during 2020–2030 (forecast period), to reach $5.0 billion by 2030. Made of semiconductor materials, such components enable RF communication in an array of sectors.

The material segment of the market is classified into indium phosphate, gallium arsenide, gallium nitride, silicon, and silicon germanium. Among these, during the historical period (2014–2019), the largest share was held by the gallium arsenide category because RF semiconductors made from this material consume less power, account for low power dissipation, can tolerate high temperatures and voltages, and are highly efficient. The gallium nitride classification will witness the fastest market growth till 2030 on account of this material’s high strength, which makes it suitable for satellite, aerospace, and defense purposes.

Read More: RF Semiconductor Market Analysis and Demand Forecast Report

The categories under the component segment of the RF semiconductor market are power amplifiers, filters, tuners, low-noise amplifiers, switches, and others. The power amplifiers category dominated the market in 2019, as these components are crucial for telecommunication equipment and consumer electronics. Thus, the rising demand for smartphones, laptops, surveillance systems, networking equipment, and IoT devices is driving the market. The highest CAGR during the forecast period is predicted to be experienced in the tuners category due to the high importance of tuners in mobile communication equipment and for high-speed data transmission.

A key trend in the RF semiconductor market is the usage of mmWave for 5G telecommunications. The increasing mobile data consumption is driving the demand for a greater bandwidth, which has put the existing telecommunication technologies under immense pressure. Hence, the need for a technology that can support higher rates of data transmission and a larger bandwidth has significantly increased. Therefore, with a frequency band range of 24–300 Gigahertz (GHz), mmWave offers more coverage, improved performance, and smooth connectivity.