NEW YORK, June 15, 2023 /PRNewswire/ -- According to the latest market research report by P&S Intelligence, the monolithic microwave IC market will power at a compound annual growth rate of 11.4% till 2030, to reach a size of USD 22,649.1 million.
The increasing availability of 5G connectivity and usage of smartphones, rising requirement for higher bandwidths, technologically progressing defense equipment, and growing count of space missions and programs boost the growth of the industry.
- The increase in the income of individuals, the obtainability of cost-effective smartphones, and the quick advances in the telecom industry are responsible for the mounting demand for smartphones.
- Their use is also on the rise because of the several purposes they fulfill for people with a steady internet connection, for example, online shopping, searching for product reviews, social media, voice searches, and bill payment.
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Countries are allocating large funds for ensuring they have easy access to state-of-the-art technologies and tools for improving national security.
Wireless communication systems require MMICs for supporting advanced bandwidths and frequencies and guaranteeing quicker communication with lightweight and compact devices, thus providing the benefit of low power consumption as well.
The demand for power amplifiers will grow at a rate of 16% till the end of this decade. Power amplifiers are vital for the efficient transmission of RF signals wirelessly.
They also sustain high frequencies and are dependable, thus extensively used for military purposes. Additionally, the rollout of 5G networks will lead to a high requirement for power amplifiers for mobiles.
In the future, the consumer electronics industry will have the largest share in MMIC sales revenue. The rapid pace of digitalization across the globe and the acceptance of modern technologies, especially automation, are necessitating higher rates of data transfer.
MMICs offer the advantage of high transmission frequencies, and they are made in small sizes with gallium arsenide, which is fairly efficient and allows for quicker electron mobility than silicon.
Browse detailed report on MMIC Market Size, Share, Growth, Development and Demand Forecast to 2030
Gallium arsenide has become the most-popular compound for manufacturing MMICs. This is because it allows for the production of lightweight semiconductor devices that also consume lower energy and are resistant to moisture and heat.
Additionally, the lower cost and higher efficiency of GaAs make it the material of choice for creating ICs for satellite communications, wireless data transmission, and other high-frequency applications.
- The market in APAC will grow at a rate of 15% and have the largest share in the future.
- The biggest drivers for the growth of the industry in the region are the existence of tremendously populous nations, such as India and China; extensive urbanization, and high acceptance of new-age technologies.
MMIC Market Segmentation Coverage in the Report
MMIC Market Analysis by Component
- Power Amplifiers
- Low-Noise Amplifiers
- Attenuators
- Switches
- Phase Shifters
- Mixers
- Voltage-Controlled Oscillators
- Frequency Multipliers
MMIC Market Analysis by Material
- Gallium Arsenide
- Indium Phosphate
- Indium-Gallium Phosphide
- Silicon-Germanium
- Gallium Nitride
MMIC Market Analysis by Technology
- HEMT
- pHEMT
- HBT
- MESFET
- mHEMT
- E-pHEMT
- MOS
MMIC Market Analysis by Frequency Band
- W Band
- V Band
- L Band
- Ka Band
- S Band
- K Band
- C Band
- Ku Band
- X Band
MMIC Market Analysis by Application
- Consumer Electronics
- Wireless Communication
- Automotive
- Aerospace & Defense
- Wired Broadband
- Test & Measurement
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