How Economic Prosperity is Contributing in Growth of RF Transceiver Market?
The global radio frequency transceiver market was valued at $9.8 billion in 2018 and is further predicted to grow with a CAGR of 11.6% during the forecast period (2019–2024). The various factors positively affecting the growth of the market include the rising adoption of internet of things (IoT) and growing demand for mobile devices.
On the basis of application, the RF transceiver market is categorized into embedded modules, routers, mobile devices, add-on cards, and others (customized devices and gaming). The application of mobile devices held the largest share of the market during the historical period (2014–2018) and is expected to dominate the market during the forecast period as well.
A transceiver is a device, in which both transmitter and receiver are combined on an integrated circuit board, to enable wireless communication. This is attributed to the rising population around the world, which is becoming increasingly dependent on mobile communication technology.
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The growing demand for mobile devices is also a key driving factor of the RF transceiver market. The usage of smartphones has increased significantly since 2016–2017 due to advanced multimedia features, fast 3G/4G LTE multimode connectivity, and enhanced location awareness.
Furthermore, digitalization and the increasing internet penetration are also leading to the rising adoption of smartphones, which is further expected to increase in the coming years with the upcoming roll-out of the 5G network. Therefore, the demand for RF transceivers is predicted to increase with the rising production of mobile devices.
RF Transceiver Market Segmentation
Market Segmentation by Design
- Single Chip Transceiver
- Standalone Chip Transceiver
Market Segmentation by Type
- 5G Transceiver
- 4G Transceiver
- 3G Transceiver
- 2G Transceiver