Monolithic Microwave IC Market to grow at a CAGR of 9.8%

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The monolithic microwave IC (MMIC) market is predicted to account for US$ 24 billion in 2032, up from US$ 9.1 billion in 2022, advancing at a CAGR of 9.8% during the forecast period (2022-2032).

The COVID-19 pandemic has had a slight but noticeable influence on overall shipment on the demand for MMIC. The COVID-19 outbreak has improved the wireless communication infrastructure.  Increased defense spending by governments to upgrade their defense inventory, together with rising demand for fast data transfer rates impacted by the future 5G technology, are creating profitable opportunities in the MMIC market.

The MMIC in smartphones also allows for the maximum network efficiency, as well as lower transmission power and bit error rates, and accelerates the MMIC market size.

MMIC market trends are also intended to expand the spectrum of frequencies used for mobile communication, allowing for higher data transfer rates and the usage of transmission bandwidths.

North America is the leading market in the MMIC. Followed by this, Asia Pacific and Europe have the growth potential with the significant growing rate. Asia Pacific has significantly growing MMIC market share and the fastest growth rate is likely to continue during the projection period. 

Key Takeaways

  • MMIC market is predicted to develop at a CAGR of 9.8%, with a market share of US$ 24 billion through 2032.
  • MMIC market share in the United States is estimated to be US$ 9 billion, with a CAGR of 9.6% through 2032.
  • MMIC market in China is expected to have a steady CAGR of 9.1% through 2032, with a market share of US$ 2 billion.
  • MMIC market in Japan is expected to have a CAGR of 8.1% through 2032, with a market share of US$ 1 billion.
  • MMIC market in the UK is expected to have a CAGR of 8.5% through 2032, with a market share of US$ 1 billion.
  • MMIC market in South Korea is expected to have a CAGR of 7.4% through 2032, with a market share of 869 million.
  • The E-pHEMT segment of the monolithic microwave IC (MMIC) market, based on technology, is expected to grow at an annual rate of 9.2% through 2032.
  • The gallium arsenide segment holds the largest MMIC market share, based on material type, and is expected to grow at an annual rate of 9.3% through 2032.

Competitive Landscape

Analog Devices, NXP Semiconductor, MACOM, Qorvo, and Skyworks Solutions are some major key players in the monolithic microwave IC (MMIC) market. It is expected from the legacy players to accelerate efforts to gain additional monolithic microwave IC (MMIC) market share through the right injection of funds.

Both industry players and investors have been active in the investment activities that have provided impetus for software advancements, improving the monolithic microwave IC (MMIC) market statistics.

  • United Silicon Carbide (UnitedSiC) (US), a leading manufacturer of silicon carbide (SiC) power semiconductors, was bought by Qorvo, Inc. in November 2021. United Silicon Carbide’s acquisition broadens Qorvo’s reach into the fast-growing markets of electric vehicles (EVs), industrial power, circuit protection, renewable energy, and data center power.
  • Skyworks Solutions, Inc., a developer of high-performance analogue semiconductors that link people, places, and things, completed the acquisition of Silicon Laboratories Inc. Infrastructure & Automotive business in July 2021. (US).

These insights are based on a report on Monolithic Microwave IC (MMIC) Market by Fact.MR.