The overall monolithic microwave integrated circuit (MMIC) market is expected to grow from USD 7.7 billion in 2019 to USD 12.7 billion by 2024, at a CAGR of 10.6% between 2019 and 2024. The growth of this monolithic microwave IC market is being fueled by the increased demand for MMICs from the flourishing smartphone industry; increasing adoption of E band to meet the growing bandwidth requirements of the space, defense, and wireless communication infrastructure sectors; and rising defense spending of countries, globally.
Power amplifiers segment is expected to hold the largest share of the MMIC market during the forecast period.
Power amplifiers convert low-power radio frequency signals to high-power signals. These amplifiers are mostly used in transmitters of radio frequency-based communication systems for driving antennas. Most of the power amplifiers are designed taking into consideration a specific application producing a specific type of signal, signal modulation scheme, and a set of specifications such as frequency range, gain (dB), gain flatness (dB), supply voltage (VDC), power decibels (dB-milliwatt), and package type. The growth of this segment can be attributed to the increased use of power amplifiers in defense, automotive, smartphones, and wireless communication applications. Continuously growing demand for high data transfer rates in communication systems has led to an increased demand for power amplifiers.
“APAC is expected to account for the largest market share during forecast period”
The growth of the market in this region can be attributed to the high adoption rate of smartphones; significant shift toward high-speed mobile technologies (for instance, the shift from 3G to 4G); increased use of mobile services, including video, social media, e-commerce, and financial services; and rise in the military expenditure of countries such as China, India, Japan, and South Korea. China is a global manufacturing hub with a flourishing electronics industry and one of the fastest-growing economies in the world. Factors such as the rise in defense spending, increased focus of governments on the automotive industry, and scientific and technological developments in MMICs are leading to the growth of the MMIC market in China.
Key Market Players
Some major companies operating in the global MMIC market are Analog Devices (US), NXP Semiconductor (Netherlands), MACOM (US), Qorvo (US), Skyworks Solutions (US), Broadcom (US), Infineon Technologies (Germany), Maxim Integrated (US), Mini-Circuits (US), OMMIC (France), WIN Semiconductors (Taiwan), United Monolithic Semiconductors (UMS) (France), Custom MMIC Design Services (US), Microarray Technologies (China), VectraWave (France), BeRex (South Korea), and Arralis (Ireland).
NXP Semiconductors (Netherlands) is a major player in the field of semiconductor solutions, owing to its wide geographic presence combined with its robust R&D capabilities. The company is growing due to the positive outlook for the automotive semiconductors, wearables, and the Internet of Things markets across the globe. NXP Semiconductors focuses on adopting organic growth strategies such as product launches to enhance its market position. For instance, it launched RF GaN wideband power transistors and expanded its Airfast third-generation Si-LDMOS portfolio of macro and outdoor small cell solutions for 5G in 2018.
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