Radio Frequency Front End Market to Reach $69.9 Billion, Globally, by 2031 at 13.8% CAGR: Allied Market Research

Increased emphasis on designing RF modules and RF components which are capable of providing faster data transmission, significant product development of RF-SOI front-end modules, growing consumer penetration of smart devices for health, fitness, or entertainment purpose drive the global radio frequency front end market.

PORTLAND, Ore., March 6, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Radio Frequency Front End Market by Type (RF Filters, RF Power Amplifiers, RF Switches, Others), by End-use Industry (Consumer Electronics, Automotive Systems, Wireless Networks, Military, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global radio frequency front end industry was valued at $18.8 billion in 2021, and is estimated to generate $69.9 billion by 2031, witnessing a CAGR of 13.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Increased emphasis on designing RF modules and RF components which are capable of providing faster data transmission, significant product development of RF-SOI front-end modules, growing consumer penetration of smart devices for health, fitness, or entertainment purpose drive the global radio frequency front end market. However, increase in RF complexity due to increasing number of bands per mobile handset, introduction of high frequency bands, and challenges like requirement of large amount of space for an RF antenna hinder the global market growth. Furthermore, an increase in data traffic, rising adoption of Bluetooth-enabled devices, and rapid deployment of industrial IoT systems will present new growth opportunities for the global radio frequency front end market in the coming years.

Covid-19 Scenario

• The COVID-19 pandemic moderately affected the radio frequency front end market. Few problems hampered the market growth in the first half of 2020, and the global market experienced a sudden drop in market size. However, the market demand increased in the latter half of 2020.
• The COVID-19 outbreak gradually impacted the supply chain of the radio frequency components market. For a short time, industries such as consumer electronics, automotive, machinery, and others saw declining demand for their products as a result of the global slowdown and customers' declining purchasing power.

The RF filters segment to dominate the market during the forecast period

Based on type, the RF filters segment contributed to the largest share of nearly two-fifths of the global radio frequency front end market in 2021, and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the fastest CAGR of 14.7% from 2022 to 2031. This is because RF filters are becoming an increasingly significant component of smartphones, which must tune into a dozen or more frequency bands. The report also analyzes RF power amplifiers, RF switches, and others segment.

The consumer electronics segment to rule the roost

Based on end-user industry, the consumer electronics segment grabbed the highest share of more than one-third of the overall radio frequency front end market in 2021 and is expected to dominate the market in 2031. The same segment would witness the fastest CAGR of 15.0% from 2022 to 2031. The increasing use of RF components in consumer electronic products such as smartphones, tablets, laptops, and wearable electronics is credited with the industry's expansion. The report also analyzes automotive systems, wireless networks, military, and other segments.

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Asia-Pacific to achieve the largest revenue and fastest growth by 2031

Based on region, the market in Asia-Pacific was largest in 2021, accounting for nearly two-fifths of the global radio frequency front end market and is likely to maintain its dominance during the forecast timeframe. The same market is likely to show the fastest CAGR of 14.9% during the forecast period. The need for RF components will rise as consumer electronics and defense equipment evolve, as well as with the major expansion of important emerging economies such as India, China, and South Korea. The report also analyzes North America, Europe, and LAMEA regions.

Leading Market Players

• Broadcom Inc.
• NXP Semiconductors N.V.
• Infineon Technologies AG
• STMicroelectronics
• Qorvo, Inc.
• Qualcomm Technologies, Inc.
• Texas Instruments Incorporated
• Skyworks Solutions, Inc.
• Murata Manufacturing Co., Ltd.
• Teradyne Inc.

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the radio frequency front end market analysis from 2021 to 2031 to identify the prevailing radio frequency front end market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the radio frequency front end market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global radio frequency front end market trends, key players, market segments, application areas, and market growth strategies.

Radio Frequency Front End Market Key Segments:

Type

• RF Filters
• RF Power Amplifiers
• RF Switches
• Others

End-use Industry

• Consumer Electronics
• Automotive Systems
• Wireless Networks
• Military
• Others

By Region

• North America  (U.S., Canada, Mexico)
• Europe  (Germany, UK, France, Spain, Italy, Rest of Europe)
• Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
• LAMEA  (Brazil, UAE, Saudi Arabia, South Africa, Rest of LAMEA)

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