The millimeter wave and microwave RF transceiver market is expected to grow by USD 1.67 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Technavio has announced its latest market research report titled Global Millimeter Wave and Microwave RF Transceiver Market 2020-2024 (Graphic: Business Wire)
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The increasing penetration of smartphones in countries such as India, China, Japan, Australia, and Brazil is responsible for the significant growth of the global millimeter wave and microwave RF transceiver market. The growth of the smartphone market is attributed to the rise in disposable income and technological advancements. Advanced wireless technology has made the use of transceiver chips necessary in smartphones and tablets. Transceivers define the performance of mobile devices, as they can detect even the weakest of signals at the set frequency and then transmit signals at that frequency. In addition, they have to be backward compatible with the existing network infrastructure. For instance, a mobile phone that is LTE capable needs to work in the LTE mode on corresponding LTE frequency bands. It also needs to work on different frequency bands in 3G and 2G modes. These requirements are expected to drive the growth of the market during the forecast period.
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As per Technavio, the deployment of next-generation LTE wireless networks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Millimeter Wave And Microwave RF Transceiver Market: Deployment of Next-Generation LTE Wireless Networks
The increase in data consumption has led to the adoption of next-generation LTE networks, such as LTE and LTE advanced. The growing consumption of mobile data has resulted in the growth of commercial networks, making LTE the fastest-growing mobile technology. Specific bands have been designated for LTE. However, they vary from one carrier to another. For instance, iPhone 6s from Verizon Communications uses different bands compared with iPhone 6s from AT&T. The use of multiple bands that are often widely spaced from one another causes LTE and 3G interference from different RF sources. LTE-based computing devices allow consumers to upload and download music and photographs. Users can also play games online with minimum signal interference and watch online TV shows uninterrupted. This has created an opportunity for transceiver chip manufacturers to offer solutions that address the consumer need for faster and smoother access to mobile data.
"Other factors such as the growing applications of IoT, and the introduction of the coax transceiver chip will have a significant impact on the growth of the millimeter wave and microwave RF transceiver market value during the forecast period," says a senior analyst at Technavio.
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Millimeter Wave And Microwave RF Transceiver Market: Segmentation Analysis
This market research report segments the millimeter wave and microwave RF transceiver market by application (mobile phones, tablets, PCs and laptops, smart TVs, and set-top boxes) and geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the millimeter wave and microwave RF transceiver market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the presence of numerous consumer electronic device manufacturers.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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