RF Transceiver Market Forecast 2023 - 2031

Report ID : CBI_1298 |  Category : Semiconductor And Electronics   | Published Date:     |  Format :   ms word  ms Excel  PDF

Segments Covered :
By Sales Channel Direct Sales and Distributor Sales
By End-User Telecommunication, Automotive, Consumer Electronics, Aerospace & Defense, Healthcare, and Others
By Region Asia-Pacific, Europe, North America, Latin America, Middle East & Africa
Report Snapshots :
Base Year: 2022
CAGR: 12.2%
Forecast Year: 2023 - 2031
Revenue 2022: $15.07 Bn
Revenue 2023: $16.61 Bn
Revenue 2031: $41.72 Bn

RF Transceiver Market Forecast 2023 - 2031

Market Overview :

RF Transceiver Market is estimated to reach over USD 41.72 Billion by 2031 from a value of USD 15.07 Billion in 2022 and is projected to grow by USD 16.61 Billion in 2023, growing at a CAGR of 12.2% from 2023 to 2031.

Market Definition :

RF transceivers refer to electronic devices that are capable of receiving and demodulating radio frequency (RF) signals for further modulation and transmission of new signals. Moreover, RF transceivers are capable of supporting both transmit and receive functionalities in a single module, in turn saving space and cost. RF transceivers also support multiple frequency bands and avoid interference with other signals and systems. Additionally, RF transceivers can be easily integrated into various types of wireless devices and systems. The aforementioned features of RF transceivers are key determinants for increasing its utilization in telecommunication, automotive, consumer electronics, aerospace & defense, healthcare, and other industries.

RF Transceiver Market :

RF Transceiver Market

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Market Dynamics :

RF Transceiver Market Dynamics

Drivers :

  • Rising utilization of RF transceiver in telecommunication industry is driving the market growth

    RF transceivers are primarily used in the telecommunication sector, particularly for communication and transmission of data over the wireless medium as electromagnetic waves. The ability of RF transceivers to support various frequency bands including 4G, 5G, and others make it ideal for deployment in communication base stations and network stations.

    Factors including the growing deployments of 5G infrastructure, rising adoption of smartphones and advanced communication devices, and increasing demand for wireless communication are major prospects driving the growth of the telecommunication industry.

    For instance, according to the Ookla 5G Map, the total deployment of 5G network reached 112 countries in November 2021, representing an incline of 13% as compared to 99 countries in November 2020. Further, according to Ookla, the overall number of 5G deployments increased considerably and reached 85,602 deployments in 2021 in contrast to 17,428 deployments in 2020.

    Thus, the growth of telecommunication industry is fostering the utilization of RF transceivers for its application in telecom base stations and network stations for communication and transmission of data over the wireless medium, in turn driving the growth of the market.

  • Growing aerospace & defense sector is spurring the market growth

    RF transceivers are used in the aerospace & defense sector for applications involving commercial aircraft, defense aircraft, military vehicles, and radar among others. Moreover, RF transceivers are used in aerospace & defense systems for application in real time air-to-ground, air-to-air, and sea-to-air point to point communications. RF transceivers also play a crucial role in military radar system for receiving and decoding the reflected signals in order to acquire velocity and position information about a certain target.

    Factors including increasing aircraft production, rising commercial flight activities, and growing investments in defense vehicles are fostering the growth of the aerospace & defense sector.

    For instance, Boeing, a North American airline company, delivered approximately 99 commercial jets during the fourth quarter of 2021, depicting a substantial incline of 68% in contrast to 59 deliveries in the fourth quarter of 2020.

    Additionally, in December 2022, Dassault Aviation, a France-based manufacturer of military aircraft and business jets, launched its new Rafale fighter aircraft for deployment in the Directorate General of Armaments, a French military procurement agency. Therefore, the rising production from aerospace & defense sector is increasing the utilization of RF transceiver for application in point-to-point communication and military radar systems, in turn proliferating the market growth.

Restraint :

  • Limitations and operational challenges associated with RF transceivers are restraining the market growth

    The utilization of RF transceivers is usually associated with few limitations and operational challenges, which is a key factor limiting the market growth.

    For instance, RF transceivers mostly require medium to high power, which makes it inappropriate for battery powered applications or devices. Moreover, RF transceivers are often associated with high design complexities, particularly for deployment in small devices.

    Additionally, RF transceivers require mandatory compliance with regulatory standards including Federal Communications Commission (FFC) regulations, Radio and Telecommunications Terminal Equipment Directive (R&TTE), Australian/New Zealand Standard (AS/NZS 4268:2003), and others. Therefore, the aforementioned limitations and operational challenges associated with RF transceivers are constraining the growth of the market.

Opportunities :

  • Rising application of RF transceivers in healthcare sector is expected to promote potential opportunities for market growth

    The rising application of RF transceivers in healthcare sector is expected to present potential opportunities for the growth of the RF transceivers market. RF transceivers are often used in healthcare sector, particularly in healthcare monitoring systems and implantable medical devices. Moreover, features of RF transceivers including ultra-low power operation, compact size, higher accuracy, enhanced efficiency, and others are primary determinants for increasing its utilization in healthcare monitoring systems and implantable medical devices.

    Factors including the growth trend in healthcare expenditure, rising incidence of chronic diseases, and growing investments in efficient medical imaging solutions for early detection of diseases are primary aspects driving the growth of the healthcare sector.

    According to American Medical Association, the total healthcare spending in the United States reached up to USD 4.3 trillion in 2021, depicting an incline of 2.7% as compared to 2020. Moreover, healthcare expenditure in the U.S. accounted for 18.3% of the total GDP in 2021. Additionally, the European Commission invested approximately USD 6 billion budget during the 2021-27 period for facilitating the healthcare sector in Europe.

    Therefore, the rising investments in healthcare industry are projected to increase the integration of RF transceivers for application in healthcare monitoring systems and implantable medical devices, in turn fostering opportunities for market growth during the forecast period.

 

RF Transceiver Market Report Coverage :

Report Attributes Report Details
Study Timeline 2017-2031
Market Size in 2031 USD 41.72 Billion
CAGR (2023-2031) 12.2%
By Sales Channel Direct Sales and Distributor Sales
By End-User Telecommunication, Automotive, Consumer Electronics, Aerospace & Defense, Healthcare, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Key Players Analog Devices Inc., Texas Instruments Incorporated, NXP Semiconductors, Renesas Electronics Corporation, Semiconductor Components Industries LLC, Qualcomm Technologies Inc., Skyworks Solutions Inc., Toshiba Electronic Devices & Storage Corporation, Infineon Technologies AG, STMicroelectronics

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Market Segmentation :

By Sales Channel :

Based on the sales channel, the market is bifurcated into direct sales and distributor sales. The distributor sales segment accounted for the largest revenue share in the year 2022. The distributor sales channel of RF transceivers comprises of both offline and online modes. In the online mode, the RF transceivers can be bought from e-commerce websites such as eBay, Amazon, Alibaba, and others. The offline mode includes the distribution of RF transceivers through retail stores, specialist stores, and others. In addition, buying from a distributor also benefits the consumer to select the best product available in the market.

For instance, Analog Devices Inc. and NXP Semiconductors are among few of the RF transceiver manufacturers that offer a range of RF transceivers through several regional distributors including Mouser Electronics Inc. Arrow Electronics Inc., and others. Therefore, the increasing availability of RF transceivers in distributor sales channel is a prime factor proliferating the growth of the segment.

The direct sales channel segment is anticipated to register the fastest CAGR growth during the forecast period. In direct sales channel, products are sold directly to customers by the means of various physical outlets such as company outlets, and others. Moreover, the direct sales channel also comprises of online mode, in which the manufacturers sell the products through its own company websites. Additionally, purchasing RF transceivers from direct sales channel offers various benefits such as faster response time, higher product quality, competitive pricing, competitive pricing, and higher return on investments, which are primary factors increasing the purchase of RF transceivers from direct sales channel.

For instance, Texas Instruments Incorporated is among few of the RF transceiver manufacturers that offer a broad range of RF transceivers for direct purchase through company website. Thus, the availability of RF transceivers in direct sales channels, attributing to its above benefits, is a key factor projected to drive the growth of the segment during the forecast period.

By End-User :

Based on the end-user, the market is segregated into telecommunication, automotive, consumer electronics, aerospace & defense, healthcare, and others. The telecommunication segment accounted for the largest revenue share of 31.6% in the year 2022. Factors including the growing deployments of 5G infrastructure, rising adoption of smartphones and advanced communication devices, and increasing demand for wireless communication are major prospects driving the growth of the telecommunication segment.

According to Viavi Solutions Inc., the overall number of cities globally with 5G deployments reached 1,947 as of January 2022, along with the addition of 635 new 5G cities in 2021. Therefore, the growth of telecommunication sector is driving the adoption of RF transceivers for utilization in base stations and network stations for communication and transmission of data over the wireless medium, in turn proliferating the growth of the market.

Aerospace & defense segment is expected to witness fastest CAGR growth during the forecast period. The growth of aerospace & defense segment is driven by multiple factors including rising investments in military & defense vehicles along with increasing production of air and maritime defense systems among others.

For instance, in April 2022, Huntington Ingalls Industries introduced its new Block IV Virginia-class attack submarine that is primarily developed for the U.S. navy. The submarine is designed for performing several coastal and open-water missions. Hence, the rising development of defense systems is increasing the adoption of RF transceivers for application in point-to-point communication and military radar systems, in turn proliferating the market growth during the forecast period.

Global RF Transceiver Market, By End-User, 2022

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By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

 
North America RF Transceiver Market, 2022 (USD Million)

Regional Growth Insights

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North America accounted for the largest revenue share of USD 5.21 Billion in 2022 and is expected to reach USD 14.50 Billion by 2031, registering a CAGR of 12.3% during the forecast period. Also, the market is projected to garner revenue of USD 5.74 Billion in the year 2023. In addition, in the region, the U.S. accounted for the maximum revenue share of 75.4% in the same year. The adoption of RF transceivers in the North American region is primarily driven by its usage in aerospace & defense, telecommunication, automotive, healthcare, and other industries. Additionally, the rising utilization of RF transceivers in telecommunication infrastructure including base stations and network stations for communication and transmission of data over the wireless medium as electromagnetic waves are among the significant factors driving the market growth in the region.

For instance, according to the GSM Association, the total 5G connection deployments across North America reached nearly 140 Billion as of 2022. Thus, the growing telecommunication industry is fostering the deployment of RF transceivers in base stations and network stations, attributing to its ability to support various frequency bands including 4G, 5G, and others, in turn driving market growth in the North American region. Further, factors including the increasing investment in aviation & defense and healthcare sectors are anticipated to foster opportunities for market growth in North America during the forecast period.

Asia-Pacific is expected to register the fastest CAGR growth of 12.5% during the forecast period. The growing pace of industrialization and development is creating lucrative growth prospects for the market in the region. Additionally, factors including the growth of multiple industries such as consumer electronics, telecommunication, aerospace & defense, and others are driving the market growth for RF transceivers in the Asia-Pacific region.

For instance, according to Invest India, the Government of India allocated USD 70.6 billion to the Ministry of Defense as the part of its Union Budget 2022-23. The primary focus of the budget allocation to the Indian Ministry of Defense is to help in the development of new unmanned aerial vehicles and systems, military ground vehicles, and other related systems. Hence, rising investment in aerospace & defense sector is anticipated to drive the utilization of RF transceivers for application in point-to-point communication system and military radar system, thereby, driving market growth in the Asia-Pacific region during the forecast period.

North America RF Transceiver Market, By Countries (2022)

Details Countries Growth Insights

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RF Transceiver Market Competitive Landscape:

The RF transceiver market is highly competitive with major players providing RF transceiver to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in RF transceiver market. Key players in the RF transceiver market include-

Recent Developments :

  • In February 2022, Renesas Electronics Corporation developed two RF transceiver technologies that is capable of supporting the Bluetooth and near-field communication standard. The new RF transceiver technologies offer a smaller mounting area along with improved power efficiency.
 

Frequently Asked Question

What is RF transceiver?+

RF transceivers refer to electronic devices that are capable of receiving and demodulating radio frequency (RF) signals for further modulation and transmission of new signals.

What specific segmentation details are covered in the RF transceiver report, and how is the dominating segment impacting the market growth?+

For instance, by sales channel segment has witnessed distributor sales as the dominating segment in the year 2022, owing to its range of benefits including higher accessibility to a variety of products, ease of use, and high flexibility.

What specific segmentation details are covered in the RF transceiver market report, and how is the fastest segment anticipated to impact the market growth?+

For instance, by end-user segment has witnessed aerospace & defence as the fastest-growing segment during the forecast period due to rising adoption of RF transceiver in aviation & defence applications including point-to-point communication and radar systems.

Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2031? +

Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and growth of multiple industries such as consumer electronics, telecommunication, aerospace & defence, and others.