Global Radio Frequency Front End Market 2024-2029: RFFE Market Awaits the Next Big Growth Driver, 6G Which May Not Fully Evolve Today - ResearchAndMarkets.com

The "Global RFFE Market: Analysis By Type, By Application, By Region Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.

In 2023, the global RFFE market was valued at US$24.90 billion, and is probable to reach US$44.94 billion by 2029. The global RFFE market value is projected to grow at a CAGR of 10.34%, during the forecast period of 2024-2029.

Global RFFE market is concentrated. Market players have implemented sustainable growth techniques in the market. To strengthen their position in the market, some of the leading competitors are pursuing various growth methods such as mergers, acquisitions, collaborations, and agreements. The key players are constantly investing in strategic initiatives, such as new launches, introducing their products to emerging markets and more, to maintain a competitive edge in this market.

An increase in data traffic, increasing adoption of Bluetooth-enabled devices, and rapid deployment of industrial IoT systems are some of the significant factors that are expected to transform the radio frequency front end industry outlook in the long run. Continuous innovations and advancements in mobile handset technology owing to continuing transition from 2G, 3G to 4G/LTE, LTE-Advanced, LTE-Advanced Pro, and 5G lead to the rising need for maximizing power efficiency and spectrum range of mobile devices.

RFFE design and manufacturing is a key investment area for China because it is an area of investment needed to support domestic mobile handset OEMs that do not have access to RFFE supply from Western suppliers resulting from US export controls and the China manufacturing infrastructure for RFFE is relatively unaffected by US export controls. The RFFE market awaits the next big growth driver - 6G - which may not fully evolve today.

Asia Pacific RFFE market enjoyed the highest market share in 2023 and would grow at the fastest CAGR, due to increasing demand for radio frequency components in consumer electronics applications. Growing adoption of power amplifiers and duplexers for use in a wide range of devices such as mobile phones, tablets, and laptops & notebooks among others. The flourishing Integrated Circuit (IC) industry, expanding the SOI ecosystem in the Asia-Pacific, and increasing the use of SOI in IoT applications act as growth opportunities for the RF Front End Module (RFFE).

According to Forbes, the number of IoT devices will surpass 3.5 billion by 2023, with Asia leading the highest market share. China is the largest maker of electric vehicles and leads with the highest level of EV uptake over the projection period. China's massive capital investment project designed to nurture the domestic semiconductor industry has rolled out its second funding phase. The project is scheduled for the next five years with a budget of US$28.9 billion. By addressing RF front-end modules, Huawei creates an opportunity to ponder areas that need attention for developing the necessary technologies, designs, and IPs, possibly expected to begin designing a whole integrated module system in China.

North America RFFE market is the second largest market in RFFE industry. This market augmented in the historical years due to growing demand for wireless communication, including smartphones, IoT devices, and other wireless technologies. Collaborations and product launch between key players in the RF front end industry, as well as partnerships with telecommunications and technology companies, can drive innovation and market expansion. For instance, in December 2022, Qualcomm launched the FastConnect 7800. It is set to be the world's first Wi-Fi 7 public solution. The US RFFE market has augmented in the years due to the partnership and acquisitions for the expanding of the business.

Market Segmentation Analysis:

PA Module segment acquired majority of share in the market in 2023, as an increase in applications of power amplifiers in GSM, radar HDTV, LTE point-to-point microwave AND 5G signal amplification, etc. will propel the segment growth. Whereas, discrete switch segment would grow with the fastest rate, because it provides the flexibility and customization required in such advanced RF systems. Additionally, the trend toward smaller and more integrated electronic devices, such as smartphones, wearables, and IoT devices, drives the need for compact and space-efficient RF components.

Consumer Electronics segment acquired majority of share in the market in 2023 and would have the fastest growing CAGR in the future, as the widespread use of IoT technologies and technical innovations like the integration of AI features (control/voice recognition) in set-top boxes and TVs. Receivers/transmitters, filters, power amplifiers, duplexers, antenna switches, and demodulators are the key parts used in RF front communications in consumer electronics products.

Market Dynamics

Growth Drivers

• 5G Deployment
• Increasing Adoption of Wireless Communication
• Growing Use of RF Front End Components in Automotive Applications
• Augmenting High-end Telecommunication Devices

Challenges

• Security Concerns
• Supply Chain Disruptions

Market Trends

• Wireless IoT Connectivity
• 6G Networking
• Miniaturization and Advancements in Packaging
• Market Expansion in Emerging Economies

Key Players

• Microchip Technology Inc.
• Infineon Technology
• NXP Semiconductor N.V.
• Qualcomm Incorporated
• Analog Devices, Inc.
• Broadcom Inc.
• Skyworks Solutions, Inc.
• Teradyne Inc.
• Soitec
• Murata Manufacturing Co., Ltd.
• Renesas Electronics Corporation
• Vanchip Tianjin Technology Co Ltd.

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