According to the new market research report "Monolithic Microwave IC (MMIC) Market by Component (Power Amplifiers, LNA, Attenuators), Material Type (GaAs, InP), Frequency Band (L, S, C), Technology (MESFET, HEMT), Application (Automotive, A&D), and Geography - Global Forecast to 2024", the overall 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%. Factors such as 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 are driving the growth of the MMIC market.
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“Consumer/enterprise electronics expected to be the largest application market of MMIC during forecast period”
The growing use of smartphones and rising demand for fast data transfer rates are the major factors driving the growth of the consumer/enterprise electronics segment of the MMIC market. With the upcoming 5G technology, the data transfer rate is expected to increase further, thereby leading to an increased demand for MMICs used in smartphones technologies.
Gallium nitride segment is expected to grow at the highest CAGR during the forecast period
Gallium Nitride (GaN) is an emerging alternative for pure silicon in the field of semiconductors and electronics due to its high brightness emissions and intensities in opto-semiconductors, high-power efficiency, superior high frequency handling capacity, and flexibility to be used alongside various substrates such as silicon, sapphire, and Silicon Carbide (SiC). Gallium nitride is very hard and mechanically stable semiconductor material with a wide bandgap and high heat capacity and thermal conductivity. MMICs developed using gallium nitride offer large bandwidth, improved power density, and high efficiency to support the future cellular infrastructure such as 5G for the mobile base station transmitters.
E-pHEMT segment is expected to grow at the highest CAGR during the forecast period.
E-pHEMTs offer superior output power and high efficiency with bias voltages of less than +3 VDC. For commercial communication systems, E-pHEMTs offer a combination of high gain, low noise, and wide dynamic range in high-linearity MMIC applications. These transistors can economically provide superior electrical performance in Very High Frequency (VHF) and Ultra-high Frequency (UHF) wireless communication bands commonly associated with technologies such as GaAs MESFETs and depletion-mode pHEMTs.
Asia Pacific is expected to be the largest MMIC market during the forecast period.
Asia Pacific was the largest MMIC market in 2018. The major drivers for the growth of the MMIC market in Asia Pacific are the expanding cellular infrastructure in the region and the increasing number of telecom equipment shipments in countries such as China and India. Japan has been a dominant player in the global semiconductor industry since the 1960s, while the strategy of China is to develop the highest-performance products at the lowest cost, which has helped it gain a large share of the Asia Pacific MMIC market. The increased production of electronic devices in the region due to the low manufacturing cost and availability of cheap labor is another driver for the growth of the MMIC market in Asia Pacific. Rising demand for smartphones, digital televisions, automobile electronics, and electro-medical devices in Asia Pacific is expected to contribute to the growth of the MMIC market in the region.
Key players operating in the MMIC market include 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).
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