According to the research report titled ‘RF Components Market Size By Component Type (Power Amplifier, Antenna, Switches, Multiplexer, Filter, Modulator & Demodulator, Transistor & Diode), By Application (Consumer Electronics, Automotive, Industrial, Aerospace & Defense, Telecommunication, Medical & Healthcare), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028,’ available with MarketStudyReport, global RF components market is slated to record robust growth during 2022-2028.

Growing inclination towards smart home devices, massive investments for the development of 5G infrastructure, and rising focus on connected vehicle technology are factors propelling the expansion of global RF components market.

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Moreover, the implementation of Internet of Things (IoT) in the healthcare sector, and increasing sophistication of infotainment systems in vehicles are likely to generate lucrative opportunities for the firms in this domain during the review period.

However, technical issues related to RF components is estimated to challenge the growth of market in the coming years.

In terms of component type, the transistors & diodes segment held 10% market share in 2021 and is anticipated to jump to a notable valuation by 2028, owing to the surging component usage in television monitors, stereo amplifiers, and radio transmitters.

Based on application spectrum, the automotive vertical of worldwide RF components industry is poised to progress gradually during the analysis period, due to the increasing usage of product in telematics and in-vehicle infotainment (IVI) systems.

Additionally, the aerospace & defense segment is reckoned to register momentous gains by the year 2028, owing to soaring influx of defense budgets prompted by the governments to enhance their defense capabilities.

Concerning the regional outlook, Latin America market accounted for a 5% revenue share in 2021 and is expected to rise exponentially during the assessment timeframe, attributed to the increased governmental push to establish public hotspots across the region.

The companies defining the competitive landscape of global RF components market include Skyworks Solution Inc., Analog Devices Inc., Silicon Laboratories Inc., Broadcom Inc., Renesas Electronics Corporation, Infineon Technologies AG, NXP Semiconductors N.V., Qualcomm Inc., MACOM Technology Solutions, OnChip Devices Inc., Microchip Technology Inc., ON Semiconductor, Mitsubishi Electric Corporation, and Murata Manufacturing Co. Ltd. among others.