The radio frequency integrated circuits (RFIC) market size is expected to reach $53.1 billion by 2022, growing at a CAGR of 6.7% between 2016-2022. The increasing bandwidth requirement results in growth of high bandwidth wireless communication market, which drives the growth of the RFIC market. The growing demand of IoT is also a major advancement in the market.
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In terms of product the RFIC market includes power amplifiers, wireless USB, transceiver, mobile TV, Wi-Fi, ZigBee, Bluetooth, RF MEMS, NFC, Wi-MAX, GPS and others. The Wi-Fi product segment is expected to witness a considerable growth during the forecast period.
The growing demand for combo RFIC in consumer electronics, which includes Wi-Fi, NFC, Bluetooth and GPS, is expected to boost the growth of the global market during the forecast period. The demand of standalone Bluetooth is mainly expected from automotive, printers, and wireless headsets, owing to the low cost of Bluetooth and with low power consumption of the standalone Bluetooth. Despite the slow growth, the NFC market has grown over the past few years due to its increasing market penetration in Asia-Pacific. Moreover, with the growing smartphone shipments, the NFC market is expected to witness considerable growth during the forecast period.
The European RFIC market size is expected to reach $10.9 billion by 2022. The market is fueled by the liberalization of the telecommunications industry in the member countries of European Union. The synchronization of telecom standards along with fast paced technological progress in RFIC packaging technology has led to the growth of RFIC products in the region during the past three to four years.
The growth of RFIC is particularly apparent in industries such as consumer electronics and networking devices in Europe led by miniaturization trend. Germany is the largest producer of electronic products among member countries of European Union. In 2015, Germany accounted for 44% of the production volume of electronics products in Europe.
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Some of the major companies operating in the RFIC market include NXP Semiconductors, Infineon Technologies AG, Qualcomm Technologies, Inc., Renesas Electronics Corporation, Silicon Laboratories, STMicroelectronics NV, TriQuint Semiconductor, Avango Technologies, and Skyworks Solutions, Inc.