RF Transceiver Market Research Report: By Design, Type, Application, Vertical - Global Industry Analysis and Growth Forecast to 2030
- September 2020 •
- 180 pages •
- Report ID: 5987950 •
- Format: PDF
The adoption of smartphones across the globe has been rising continuously since the past few years. This can be ascribed to the increased penetration of internet, rising disposable income of people, and rapid digitalization all over the world. Asia-Pacific is one of the major smartphones market due to the large consumer base. In addition to all this, the recent emergence of 5G is also predicted to drive the demand for smartphones. Since radio frequency (RF) transceivers are a major part of these devices, their requirement has also been increasing due to the rising adoption of smartphones.
In a smartphone, RF transceivers are responsible for the reception and conversion of signal from the air, on the receiver side, and transmission of the converted RF signal into the air, on the transmitter side. The devices works in a similar way for all the other connected devices that it is utilized in. As per a study conducted , the global RF transceiver market is projected to reach a value of $18.5 billion by 2024, increasing rapidly from $9.8 billion in 2018, and is expected to exhibit an 11.6% CAGR during the forecast period (2019–2024).
When design is considered, RF transceivers are of two types, namely standalone chip transceiver and single chip transceiver. Between these two, single chip transceivers have been more popular, as they consume less power and enable low voltage operations in wireless systems. These transceivers are extensively being utilized for telemetry communication and wireless body area network in the healthcare industry. Apart from mobile devices, RF transceivers also find applications in embedded modules, add-on-cards, and networking equipment. The largest demand for these devices was created by mobiles phones and the situation is expected to be the same in the years to come.
As mentioned above, this is due to the increasing adoption of smartphones among people across all the regions and the growing utilization of 3G and 4G networks. A number of industries make use of RF transceivers, including cable/broadcasting, consumer electronics, military & defense, telecommunications, healthcare, and aerospace. Among these, the consumer electronics industry has been making the most use of these devices, which can be owing to the growing demand for surveillance systems, tablets, gaming consoles, networking equipment, and laptops. Other than this, the demand for RF transceivers is also expected to rise significantly in the telecommunications in the years to come.
Geographically, the Asia-Pacific (APAC) region has been the major RF transceiver market up till now, which is primarily attributed to the expanding telecommunications and consumer electronics industry. In addition to this, the growing demand for smartphones, increasing penetration of the internet of things technology, surging consumer spending, swift adoption of wireless communication devices, and adoption of automated means of marketing are also resulting in the growing demand for RF transceivers in the region. The major applications of these devices in APAC are home automation, smart farming, building security systems, and tracking systems.
Hence, the demand for RF transceivers is growing due to the surging penetration of smartphones across the globe and increasing disposable income of people.