With a projected value of USD 9.7 billion in 2022, the global Monolithic Microwave IC (MMIC) Market is expected to rise significantly, with a strong compound annual growth rate (CAGR) of 11.9% to reach USD 17.0 billion by 2027.

Important factors including the growing acceptance of MMICs in numerous applications, the spread of 5G technology, and the rising need for advanced communication systems are driving the market dynamics. Low noise amplifiers (LNAs), power amplifiers, switches, and materials like gallium arsenide (GaAs), indium phosphate (InP), and gallium nitride (GaN) are important contributors. The market's expansion is further amplified by the various frequency bands, such as Ka, S, and X, in addition to technologies like Metal-Semiconductor Field-Effect Transistor (MESFET) and High Electron Mobility Transistor (HEMT). The automotive, aerospace, and defence (A&D) industries are major drivers of the MMIC market, which serves as a hub for industry growth and technological innovation.

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The market for monolithic microwave integrated circuits (MMICs) is expanding rapidly thanks to a number of important considerations. One major driver is the smartphone industry's spike in demand for MMICs, which is fueled by the requirement for enhanced communication capabilities. With the widespread implementation of 5G technology, the use of E band frequencies is becoming increasingly important in fulfilling the increasing bandwidth demands of cellular and wireless networks. The growing use of next-generation combat strategies and higher defence spending by nations to upgrade their defence stockpiles are driving the market's rise. Together, these elements place the MMIC market at the forefront of technical development and highlight how crucial it is to satisfying the changing needs of diverse industries.

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Ka band segment to account for the largest share of MMIC market during the forecast period

Throughout the forecast period, the Ka band segment is expected to develop at the fastest rate and have the greatest market share in the Monolithic Microwave IC (MMIC) market. The Ka band has become the go-to option for satellite operators due to its many benefits. Its widespread use in internet services, low bandwidth costs, excellent efficiency, and quick upload and download speeds are the main reasons for its appeal. To further increase its appeal, the Ka band is less crowded than other frequency bands. The Ka band is anticipated to see higher usage as 5G installations around the world pick up steam, which will fuel its growth within the MMIC market.

Wireless communication infrastructure application is expected to grow with the highest CAGR in MMIC market during the forecast period

In the Monolithic Microwave IC (MMIC) market, the wireless communication infrastructure segment is expected to grow at the fastest rate throughout the course of the projected period. Particularly in the context of wireless communication, MMICs are essential for fulfilling the requirements of microwave backhauls. Strong wireless infrastructure is becoming more and more necessary as the demand for carrier frequencies to provide high-quality wireless communication services rises worldwide. Within the wireless communication infrastructure category, the MMIC market is anticipated to grow at a faster rate due to the increased demand for dependable and effective wireless communication infrastructure.

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North America to account for the second largest share MMIC market during the forecast period

In the Monolithic Microwave IC (MMIC) market, North America emerges as the second-largest market over the forecast period. This is explained by the fact that major companies with a substantial presence in the area include Qorvo, Inc., Skyworks Solutions, Inc., and MACOM Technology Solutions Holdings, Inc. Along with the presence of significant MMIC firms, the adoption of sophisticated technologies like pHEMT, E-pHEMT, and mHEMT has accelerated, supporting a steady growth trajectory for the industry. In addition, North America is the leader in private equity investments, which supports the MMIC market's ongoing growth. The robust expansion of the MMIC market in North America may be attributed to various factors, including the increasing adoption of smartphones, the impending deployment of 5G infrastructure, ongoing and future space programmes, and the developing connected car ecosystem.

Some of the key companies in the MMIC market are Analog Devices, Inc. (US), NXP Semiconductors N.V. (Netherlands), MACOM Technology Solutions Holdings, Inc. (US), Qorvo, Inc. (US), Skyworks Solutions, inc. (US), Infineon Technologies AG (Germany), Mini-Circuits (US), OMMIC (France), WIN Semiconductors Corp. (Taiwan), United Monolithic Semiconductors (UMS) (France), ON Semiconductor Corporation (onsemi) (US), Microarray Technologies Corporation Limited (China), VectraWave (France), BeRex Co., Ltd. (South Korea), Wolfspeed, Inc. (US), MicroWave Technology, Inc. (MwT) (US), ASB Inc. (South Korea), Texas Instruments (US), Northrop Grumman Corporation (US), Toshiba Infrastructure Systems and Solutions Corporation (Japan), STMicroelectronics (Switzerland), Microchip Technology Inc. (US), Sumitomo Electric Industries, Ltd. (Japan), Mitsubishi Electric Corporation (Japan), and Arralis (Ireland) are the major players operating in the MMIC market.

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