5G Radio Frequency Chip (RF Chip) Global Market Report 2024

The 5G Radio Frequency Chip (RF Chip) market size has grown rapidly in recent years. It will grow from $31.45 billion in 2023 to $37.6 billion in 2024 at a compound annual growth rate (CAGR) of 19.6%. The expansion observed in the historical period can be attributed to the growing demand for higher data rates, the emergence of the Internet of Things (IoT), the evolution of mobile broadband, and the deployment of small cells and massive Multiple Input Multiple Output (MIMO) technology.

The 5G Radio Frequency Chip (RF Chip) market size is expected to see rapid growth in the next few years. It will grow to $76.3 billion in 2028 at a compound annual growth rate (CAGR) of 19.4%. The anticipated growth in the forecast period can be ascribed to factors such as the widespread deployment of 5G, the integration of edge computing, government initiatives, a rise in network densification, and the proliferation of devices enabled with 5G technology. Prominent trends expected in the forecast period encompass the integration of multiple bands and standards, advancements in beamforming and Multiple Input Multiple Output (MIMO) technology, the expansion of millimeter-wave (mmWave) capabilities, adoption of advanced packaging technologies, development of Artificial Intelligence (AI)-enabled RF chips, and collaborations for ecosystem development.

The increasing demand for high-speed internet connectivity is poised to drive the expansion of the 5G radio frequency chip (RF chip) market in the coming years. High-speed internet connectivity entails the capability to access and transmit data at accelerated rates compared to traditional internet connections. 5G RF chips play a pivotal role in enabling high-speed connectivity within 5G networks, offering support for diverse frequency bands, advanced modulation techniques, beamforming, low-latency communication, integration with antenna systems, and enhanced energy efficiency. Notably, data from Eurostat, a Luxembourg-based government agency, reported an increase in high-speed internet coverage in households from 59.8% in 2020 to 70.2% in 2021, affirming the growing need for high-speed internet connectivity and, consequently, propelling the 5G RF chip market.

Key players in the 5G radio frequency chip (RF chip) market are strategically focusing on innovative technological solutions, such as the system-on-chip, to maintain competitiveness and cater to the rising demand for faster and more reliable wireless communication systems. The system-on-chip (SoC) represents a mmWave 5G chipset specifically designed to power the next generation of 5G smartphones, delivering seamless displays, gaming experiences, and enhanced power efficiency. For instance, in May 2023, MediaTek Inc., a Taiwan-based semiconductor company, introduced the Dimension 1050 system-on-chip, marking the inaugural mmWave chipset for seamless 5G smartphone connectivity. The Dimension 1050 seamlessly transitions between mmWave 5G and sub-6GHz, ensuring compatibility with 5G networks globally. Additionally, it supports high-end UFS 3.1 storage and LPDDR5 memory, providing ultra-fast data streams, and features a dual HDR video capture engine for simultaneous streaming with front and rear cameras.

In December 2021, Renesas Electronics Corporation, a semiconductor manufacturing company headquartered in Japan, completed the acquisition of Celeno Communications Ltd. for a total of $315 million. This strategic move is part of Renesas Electronics Corporation's broader objective to broaden its connectivity offerings, reinforce its foothold in the expanding Wi-Fi and wireless technologies sector, and expedite its advancement within the Internet of Things (IoT) market segment. Celeno Communications Ltd., an Israeli firm specializing in wireless network technology and renowned for its development of Wi-Fi chipsets, particularly in RF chip manufacturing, was identified as a pivotal asset to support Renesas Electronics Corporation's growth trajectory.

Major companies operating in the 5g radio frequency chip (rf chip) market report are Samsung Electronics Co. Ltd, Qualcomm, Broadcom Inc., Texas Instruments Incorporated, MediaTek Inc., STMicroelectronics, Infineon Technologies AG, Renesas Electronics Corporation, Murata, NXP Semiconductors N.V., Analog Devices, ON Semiconductor Corporation, Skyworks, Qorvo, GuoboElectronicCo. Ltd, Silicon Labs, MaxLinear Inc., MACOM Technology Solutions Holdings, Inc., WIN Semiconductors Corp., Analogic Corporation, Vanchip (Tianjin) Technology Co., Ltd, Sequans Communications S.A., ShenZhen Fine Made Electronics Group Co. Ltd, Filtronic plc, Maxscend Technologies Inc.

North America was the largest region in the 5G radio frequency chip (RF Chip) market in 2023. The regions covered in the 5g radio frequency chip (rf chip) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the 5g radio frequency chip (rf chip) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A 5G radio frequency chip (RF chip) is a component engineered to function at elevated frequencies, typically within the range of several hundred megahertz (MHz) to several gigahertz (GHz), and is integral to 5G technology for wireless communication. These chips consolidate a multitude of functions necessary for radio frequency communication into a singular chip, diminishing the reliance on external components and concurrently boosting operational efficiency.

The primary categories of 5G radio frequency chips (RF chips) are distinguished as high-frequency and low-frequency. High frequency pertains to electromagnetic frequencies positioned in the upper segment of the radio frequency (RF) spectrum. Within this category, several chips play vital roles, including radio frequency integrated circuits (RFICs) and millimeter-wave ICs, generating both sub-6 GHz and millimeter-wave (mmWave) frequency bands. These chips find application across diverse sectors, including automotive, communications, consumer electronics, and others.

The 5G radio frequency chips (RF chips) market research report is one of a series of new reports that provides 5G radio frequency chips (RF chips) market statistics, including 5G radio frequency chips (RF chips) industry global market size, regional shares, competitors with a 5G radio frequency chips (RF chips) market share, detailed 5G radio frequency chips (RF chips) market segments, market trends and opportunities, and any further data you may need to thrive in the 5G radio frequency chips (RF chips) industry. This 5G radio frequency chips (RF chips) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The 5G radio frequency chip (RF chip) market consists of revenues earned by entities by providing services such as chip design services, integration services, customization and optimization, and consulting and support services. The market value includes the value of related goods sold by the service provider or included within the service offering. The 5G radio frequency chip (RF chip) market also includes sales of transceivers, RF front-end modules, power amplifiers, low-noise amplifiers, beamforming chips, and RF switches. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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