The Worldwide Monolithic Microwave IC Industry is Projected to Reach $17 Billion by 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Monolithic Microwave IC (MMIC) Market by Component (Power Amplifiers, LNA, Switches), Material Type (GaAs, InP, GaN), Frequency Band (Ka, S, X), Technology (MESFET, HEMT), Application (Automotive, A&D) and Geography - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global MMIC market was valued at USD 9.7 billion in 2022 and is projected to reach USD 17.0 billion by 2027, growing at a CAGR of 11.9% during the forecast period from 2022 to 2027.

The key factors driving the growth of the MMIC market include increased demand for MMICs from the smartphone industry, the adoption of E band to meet the growing bandwidth requirements of cellular and wireless networks, increased defense spending of countries for the upgrade of their defense inventories, and the growing adoption of next-generation warfare techniques.

The impact of COVID-19 on the overall MMIC market has been varied up until now. COVID-19 has severely impacted the supply chain of consumer electronics, mobile devices, computers, and other electronic devices which are the leading application industries of the MMIC market.

Months of lockdowns and suspension of manufacturing operations have further hampered economic growth and upended the global semiconductor industry and created a major chip shortage, affecting automobiles, computers, and other industries worldwide. This shortage comes with an opportunity for investments and the emergence of new players in the semiconductor industry.

Smartphones applications in the consumer/enterprise electronics segment to account for the largest market share in MMIC market during the forecast period

The market for smartphones is growing rapidly and is expected to show significant growth over the coming years owing to the rising trend of e-Commerce and m-Commerce, particularly among the working population. Growing Internet penetration, increasing marketing activities by smartphone vendors, and rising subscriptions in social media are some of the key factors driving global smartphone sales. The increasing number of smartphones is expected to boost the MMIC market globally.

China to account for the largest share of MMIC market in Asia Pacific during the forecast period

The MMIC market in China holds the largest market share and is expected to retain its position during the forecast period as China is a global manufacturing hub with a flourishing electronics industry and one of the fastest-growing economies in the world. It also has the second-largest budget for R&D activities in the world and invests ~2% of its GDP in R&D activities. The increase in industrial automation in China and "Made in China 2025" initiative, started by the Chinese government in 2015is fueling the demand for microwave devices in the country.

US to account for the largest share of MMIC market in North America during the forecast period

The MMIC market in the US holds the largest market share and is expected to retain its position during the forecast period due to the presence of top MMIC manufacturers such as Analog Devices (US), MACOM (US), Skyworks Solutions (US), and Qorvo (US).

Market Dynamics

Drivers

• Rising Demand for MMICs from Smartphone Industry
• Surging Adoption of E Frequency Band to Meet Increasing Bandwidth Requirements of Cellular and Wireless Networks
• Increasing Defense Spending by Countries to Upgrade Their Defense Inventories
• Growing Adoption of Next-Generation Warfare Techniques

Restraints

• High Development Costs of MMICs

Opportunities

• Evolution of 5G Technology
• Increase in Number of Space Programs Worldwide

Challenges

• Designing Robust MMICs

Companies Mentioned

• Analog Devices, Inc.
• Arralis
• Asb Inc.
• Berex Co., Ltd.
• Infineon Technologies Ag
• Macom Technology Solutions Holdings, Inc.
• Microarray Technologies Corporation Limited
• Microchip Technology Inc.
• Microwave Technology, Inc. (Mwt)
• Mini-Circuits
• Mitsubishi Electric Corporation
• Northrop Grumman Corporation
• NXP Semiconductors N.V.
• Ommic
• On Semiconductor Corporation (Onsemi)
• Qorvo, Inc
• Skyworks Solutions, Inc.
• STMicroelectronics
• Sumitomo Electric Industries, Ltd.
• Texas Instruments
• Toshiba Infrastructure Systems and Solutions Corporation
• United Monolithic Semiconductors (Ums)
• Vectrawave
• Win Semiconductors Corp.
• Wolfspeed, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/p0rtqk