New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research, the global Radio Frequency (RF) Packaging Market is poised to be valued at US$ 29.5 billion in 2023. Total radio frequency packaging demand is forecast to surge at 14.2% CAGR during the assessment period. By 2033, the worldwide market for radio frequency packaging is projected to reach US$ 111.6 billion.
Based on applications, consumer electronics segment currently leads the global radio frequency packaging industry and it is forecast to further expand at 14.0% CAGR through 2033. This is attributed to rising usage of radio frequency packaging across the thriving consumer electronics sector.
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Radio frequency packaging finds application in consumer electronic products such as smartphones, laptops, and smart gadgets. Hence, increasing demand for consumer electronics across the world due to increasing penetration of digitalization will boost the global radio frequency packaging industry during the forecast period.
Similarly, increasing applications of radio frequency (RF) packaging in military and defense systems such as automotive radar systems, and in automotive industry such as in advanced driving assistance systems (ADAS) for communication will elevate demand in the market.
Radio frequency packaging technique is used in advanced technologies such as 5G, EMI shielding, System in Package (SiP), and mm Wave applications. In space technology, RF packaging is also used. For instance, Alcatel Space works in RF packaging solutions to be used in Space applications that function up to 40 GHz.
Hence, widening application area of radio frequency packaging will help the market to thrive at a stupendous pace over the next ten years.
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Key Takeaways from Radio Frequency (RF) Packaging Market Report:
- The global radio frequency packaging market is set to reach a valuation of US$ 29.5 billion in 2023.
- Global radio frequency packaging demand is likely to surge at 14.2% CAGR between 2023 and 2033.
- Based on type, flip-chip segment is forecast to accelerate at 14.1% CAGR through 2033.
- By application, consumer electronics segment is projected to expand at 14.0% CAGR during the assessment period.
- The United States radio frequency packaging market size is predicted to progress at 13.5% CAGR over the next ten years, reaching a valuation of US$ 18.0 billion by 2033.
- Radio frequency packaging market size in China is poised to reach US$ 28.0 billion by the end of 2033.
- Radio frequency packaging demand across South Korea is anticipated to increase at 14.7% CAGR during the projection period.
“Growing popularity of radio frequency packaging across industries such as consumer electronics and automotive is expected to boost the global market over the next ten years,” says a lead analyst at Persistence Market Research.
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Who is Winning?
CITC, Broadcom, Inc., Mitsubishi Electric Corporation, Endeavour Business Media, LLC, Stratedge, Macom, Microchip Technology Inc. Printex Transparent Packaging, Infineon Technologies AG, and Mac Dermid Alpha Electronics Solutions are few of the leading radio frequency packaging companies.
These companies are focused on introducing new innovative products, partnerships, alliances, technology collaborations, mergers, and facility expansion to gain a competitive edge in the market.
For instance,
- In December 2019, Taiwan Semiconductor Manufacturing Company (TSMC) – Taiwan based semiconductor manufacturer announced that it will launch InFO-Antenna-in-Package (AiP) volume predictions. These predictions are expected to be used in mm wave devices in 2020. The company’s antenna in package backend technology, dubbed InFO- AiP has already brought numerous orders from USA-based companies.
Get More Valuable Insights into Radio Frequency (RF) Packaging Market
Future Market Insights, in its new offering, presents an unbiased analysis of the Radio Frequency (RF) Packaging market, presenting historical market data (2018 to 2022) and forecast statistics from 2023 to 2033.
The study reveals extensive growth in Radio Frequency (RF) Packaging market
- based on Type (Plastic Package, Flip Chip, and Wire Bond),
- based on Devices (Inductors, Capacitors, Transistors, Oscillators, and Others),
- based on Material (PTFE, Ceramic, Woven Glass, Thermoset Plastic, Teflon),
- based on Application (Consumer Electronics, Commercial, Military and Defense, Automotive, and Other Applications)
- based on across several regions.
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