MMIC Market Poised for Growth Amidst 5G Advancements and Technological Innovations, States Fact. MR
MMIC Market Poised for Growth Amidst 5G Advancements and Technological Innovations, States Fact. MR
The global monolithic microwave IC market is set to reach a valuation of US$ 11,913.8 Mn in 2024 and further expand at a CAGR of 9.8% to end up at US$ 30,344 Mn by 2034.
MMICs play a critical role in operating at microwave and millimeter-wave frequencies, typically above 1 GHz. While the MMIC segment accounts for only about 1-3 % of the semiconductor industry, its growth is expected to increase considerably because of improved 5G technology and increasing demand from the automotive, defense, and telecommunication industries. This is because of the growing demand for high-frequency and high-performance electronics in 5G deployment, smartphones, and other high-tech applications.
This means that generally, MMIC-based chips have high costs owing to the nature of specialized materials used and smaller quantities in which MMICs are produced. There exist difficulties that increase the manufacturing costs, hence lowering the level of wide application. However, players in this market are trying to solve these problems as investments are made in research and development to improve MMIC performance and lower costs. With innovations in materials and manufacturing processes, the market is set to grow further.
At the regional level, one can easily discern that, indeed, the United States MMIC market will continue to develop vigorously due to 5G advancements in aerospace and defense. Some of the key driving forces include increasing demand for high-frequency components and the integration of MMICs in radar systems and satellite communications. The U.S. market still manages to leverage its long-term investment in R&D to set a course for further growth in next-generation communications technologies and defense applications.
The MMIC market of China has taken off with rapid technological progress, together with rising demand for high-frequency applications. Domestic production has been pushed through initiatives such as the 5G rollouts and defense expansion, backed by the 'Made in China 2025' program. However, huge challenges still exist in achieving self-sufficiency in the output of high-end MMICs, partly due to trade tensions with the U.S.
In general, MMIC manufacturers increase product portfolios, maintain innovation in focus, and branch into high-growth areas like autonomous driving and renewable energy. These are some of the strategies laid down to bring more market penetration and make up for changing demands in various industries.
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Key Takeaways from the Market Study:
“Expanding MMIC product portfolios in high-growth sectors like 5G, defense, and autonomous driving, while leveraging government support, acquisitions, and innovation in advanced technologies, will maximize market opportunities,” says Fact.MR analyst.
Leading Players Driving Innovation in the Monolithic Microwave IC (MMIC) Market:
Analog Devices; ASB Inc.; Infineon Technologies AG; MACOM; Microchip Technology; Mini-Circuits; NXP Semiconductor; OMMIC; Qorvo; Semiconductor Components Industries; Skyworks Solutions; STMicroelectronics N.V.; Texas Instruments; Toshiba Infrastructure; United Monolithic Semiconductors; WIN Semiconductors Corp; Other Prominent Players.
Market Growth Stratagems:
Trends in the MMIC industry are moving toward high-power and high-efficiency components. Suppliers right now involve advanced semiconductor emphasis and technologies in increased performance in tough RF transmitter applications along with the electrical vehicles-focused Gallium Nitride and Silicon Carbide technologies. This indicates an inclination to enter into fast-growing markets such as defense, electric vehicles, and renewables through focused acquisitions and investments in bleeding-edge technologies. This underscores a broader industry trend toward integrating innovative materials and technologies to meet growing needs and changing concerns in the marketplace.
• In April 2022, MACOM Technology Solutions Holdings, Inc. announced that it had been awarded a contract by the U.S. Department of Defense for the development of a high-power 45-kilowatt Radio Frequency transmitter using Gallium Nitride semiconductor and antenna beamforming technology. The MACOM solution is based on its proprietary best-in-class MACOM PURE CARBIDE GaN components and power-combining expertise.
• In November 2021, Qorvo, Inc. acquired United Silicon Carbide, Inc., a premier silicon carbide power semiconductor supplier. With the acquisition of United Silicon Carbide, Qorvo will further its penetration into fast-growing markets such as electric vehicles, industrial power, circuit protection, renewables, and data center power. United Silicon Carbide will be integrated into Qorvo's Infrastructure & Defense Products business.
Monolithic Microwave IC (MMIC) Market News:
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the monolithic microwave IC Market, presenting historical market data (2019-2023) and forecast statistics for the period of 2024 to 2034.
The study reveals essential insights based on the by component (Power Amplifiers, Low Noise Amplifiers, Attenuators, Switches, Phase Shifters, Mixers, Voltage-controlled Oscillators and Frequency Multipliers), by technology (MESFET, HEMT, pHEMT, mHEMT, HBT and MOS), by material (Gallium Arsenide, Indium Phosphide, Indium Gallium Phosphide, Silicon Germanium and Gallium Nitride), by end-use vertical (Consumer / Enterprise Electronics, Wireless Communication Infrastructure, Automotive, Aerospace & Defense, Test & Measurement, CATV & Wired Broadband and Others) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
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A monolithic microwave IC (MMIC) is a type of integrated circuit designed to operate at microwave frequencies, typically above 1 GHz, and is used in various applications including telecommunications and radar systems.
5G technology is the fifth generation of mobile network technology, providing faster speeds, lower latency, and the ability to connect more devices simultaneously compared to previous generations.
CAGR stands for Compound Annual Growth Rate, which represents the mean annual growth rate of an investment over a specified time period longer than one year.
High-frequency components are electronic parts that operate at high frequencies, often used in applications such as telecommunications, radar, and microwave technology.
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