MarketsandMarkets' "Monolithic Microwave IC Market" research study estimates that the global Monolithic Microwave Integrated Circuit (MMIC) Market will be worth USD 9.7 billion in 2022. The market is predicted to develop significantly and reach USD 17.0 billion by 2027, according to the analysis. This expansion entails a significant Compound Annual Growth Rate (CAGR) of 11.9% for the forecasted period of 2022 to 2027.
The key factors, material types, frequency band, technologies, and applications driving the growth of the MMIC market are covered in the report. Such rise highlights the growing demand for and adoption of MMIC across numerous industries, underscoring its critical contribution to the global advancement of technological capabilities and applications.
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According to the research analysis, a number of important factors are driving the Monolithic Microwave Integrated Circuit (MMIC) market's expansion. Because of the ongoing development and growth of the smartphone market, the spike in demand for MMICs from the sector represents a significant driver. The market for MMICs is also being supported by the growing use of E band frequencies to meet the expanding bandwidth requirements of cellular and wireless networks. Another significant element driving this growth and highlighting the growing significance of MMICs in defence applications is the rise in defence spending by many nations to upgrade their defence inventories.
Ka band segment to account for the largest share of MMIC market during the forecast period
According to the report, the Monolithic Microwave Integrated Circuit (MMIC) market for Ka band is expected to be the largest and increase at the greatest rates during the projection period. This popularity is attributable to the Ka band being the favoured option for many satellite operators, mostly because of its affordable capacity and wide range of applications in broadband services. When compared to other bands, the Ka band exhibits superior efficiency, providing quick download and upload rates while keeping lower bandwidth costs. Further boosting the growth prospects of this subsegment within the MMIC market is the expectation that the global rollout of 5G technology will largely use the Ka band.
Wireless communication infrastructure application is expected to grow with the highest CAGR in MMIC market during the forecast period
According to the report, the Monolithic Microwave Integrated Circuit (MMIC) market for wireless communication infrastructure is expected to grow at the most notable compound annual growth rate (CAGR) during the course of the projected period. MMICs are essential in supplying the microwave backhaul requirements necessary for the infrastructure of wireless communication. A key factor driving the demand for wireless infrastructure globally is the rising demand for carrier frequencies, which is intended to enable better wireless communication. MMICs are expected to play a crucial role in improving the effectiveness and capacities of wireless communication infrastructure as the globe depends more and more on reliable wireless communication networks. This will propel significant growth within this section of the MMIC market.
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North America to account for the second largest share MMIC market during the forecast period
During the anticipated timeframe, North America will have a significant position as the second-largest market for monolithic microwave integrated circuits (MMIC). Major industry companies from the area, like Qorvo, Inc., MACOM Technology Solutions Holdings, Inc., and Skyworks Solutions, Inc., have a big impact on the market's continuous expansion. The rise of the market in North America is fueled by the quick uptake of cutting-edge technologies including pHEMT, E-pHEMT, and mHEMT, as well as the presence of sizable MMIC firms. Furthermore, the area leads the way in terms of private equity investments. The MMIC market is expanding in North America because to elements such rising smartphone adoption, the planned 5G infrastructure, ongoing and new space programmes, and the developing connected car ecosystem.
Some of the key companies in the MMIC market are Analog Devices, Inc. (US), NXP Semiconductors N.V. (Netherlands), MACOM Technology Solutions Holdings, Inc. (US), Qorvo, Inc. (US), Skyworks Solutions, inc. (US), Infineon Technologies AG (Germany), Mini-Circuits (US), OMMIC (France), WIN Semiconductors Corp. (Taiwan), United Monolithic Semiconductors (UMS) (France), ON Semiconductor Corporation (onsemi) (US), Microarray Technologies Corporation Limited (China), VectraWave (France), BeRex Co., Ltd. (South Korea), Wolfspeed, Inc. (US), MicroWave Technology, Inc. (MwT) (US), ASB Inc. (South Korea), Texas Instruments (US), Northrop Grumman Corporation (US), Toshiba Infrastructure Systems and Solutions Corporation (Japan), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Sumitomo Electric Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), and Arralis (Ireland) are the major players operating in the MMIC market.
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