Rapid Evolution Of 5G Technology Primarily Fueling Monolithic Microwave IC (MMIC) Market Growth

According to a new market research report published by Brisk Insights “Global Monolithic microwave IC (MMIC) Market (Component (Power Amplifiers, LNA, Attenuators), Material Type (GaAs, InP), Frequency Band (L, S, C), Technology (MESFET, HEMT), Application (Automotive, A&D)) Market – Growth, Future Prospects and Competitive Analysis, 2021 - 2029”, the overall Monolithic microwave IC (MMIC) Market worldwide is set to grow with a CAGR of more than 10.9% during the forecast period from 2021 to 2029, starting from US$ 8.76 Bn in 2020.

Market Insights

The global monolithic microwave IC (MMIC) market is highly driven by increasing penetration of MMIC in smartphone industry. Growing developments in the smartphone industry is largely contributed to increasing market size and the growth of this market. Along with smartphones, the MMICs are also used in various other devices to manage their functioning. Due to the popularity of advantages of MMICs, they are commonly being used, especially where complex mixed signal systems need to be integrated on the same chip. As the semiconductor industry needs long product development cycle, design requirements, complex technology process, with a higher threshold, the adoption of high precision products like MMICs is growing.

Furthermore, growing adoption of E band MMICs in aerospace, defense, and wireless communication infrastructure sectors are driving the growth of the MMIC market. Moreover, evolution of 5G technology globally, and growing number of space programs are also fueling the demand for MMIC globally.

However, factors such as high development cost of MMIC, and maintaining the quality and robustness of MMICs are likely to hinder the adoption and market growth of MMIC during the forecast period.  

Based on component, the attenuators segment is projected to experience a rapid growth during the forecast period. Attenuators are widely used in telecommunication and electronic warfare applications mainly to adjust the signal level. Multiple applications of MMIC attenuators generates a huge demand for this component in end use industry, and thus drives the growth of this market during the forecast period.

Based on the geography, Asia Pacific dominated the Monolithic Microwave IC Market by holding largest market share of nearly 38% of the total revenue generated worldwide. Asia-Pacific is experiencing is a rapid shift toward high-speed mobile technologies and high adoption rate of smartphones in this region. This is the primary factor contributing the growth of MMICs market in this region. Furthermore, increasing penetration of advanced technologies and high speed internet in this region has increased use of mobile services, including social media, e-commerce, video, and many other services.

China is a global manufacturing hub to the electronics industry and one of the fastest-growing economies in the world. Along with this countries such as India and Japan are also experiencing a boom in the smartphone and technology industry. Furthermore, increased focus of governments on the developments of automotive industry, and the technological advancements in MMICs are also expected to contribute to the growth of MMIC market in this region.

Some of the major companies profiled in the report include ON Semiconductor, Texas Instruments Incorporated, ADI, Northrop Grumman, Cree Inc., NXP Semiconductors N.V., Arralis Ltd., Microchip Technology, ASB Inc., Mitsubishi Electric Corporation, Skyworks Solutions, Inc., Microwave Technology, MACOM Technology Solutions, Microarray Technologies.

Browse the full report at https://www.briskinsights.com/report/monolithic-microwave-ic-mmic-market

The Global Monolithic microwave IC (MMIC) Market is Segmented into:

*Complete segmentation list is on report page