Monolithic Microwave IC (MMIC) Market by Component (Power Amplifiers, LNA, Switches), Material Type (GaAs, InP, GaN), Frequency Band (Ka, S, X), Technology (MESFET, HEMT), Application (Automotive, A&D) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Monolithic Microwave IC (MMIC) Market Overview
The global Monolithic Microwave IC (MMIC) Market size is projected to reach a CAGR of 11.9% from 2023-2030.
A monolithic microwave IC (MMIC) is a type of integrated circuit that operates at microwave frequencies. The functions of this device are microwave mixing, low noise amplification, power amplification, and high-frequency switching. The market for MMIC is growing as there is a rising demand for MMIC from the smartphone manufacturing industry.
Major factors that are expected to boost the growth of the monolithic microwave IC market in the forecast period are the rise in the need for monolithic microwave integrated circuits (MMICs) from the smartphone industry. Furthermore, the increase in the acceptance of E band to meet the growing bandwidth needs of cellular and wireless networks is further propelling the growth of the monolithic microwave IC market. Moreover, the rise in defense expenditure by the countries to upgrade their defense inventories is estimated to cushion the growth of the monolithic microwave IC market. In addition, the evolution of 5G technology to rise in the need for (MMICs) will further provide opportunities for the monolithic microwave IC market in the coming years.
On the other hand, the rise in the development expenditure of monolithic microwave integrated circuits (MMICs) is further anticipated to impede the growth of the monolithic microwave IC market in the timeline period. However, the designing of sturdy monolithic microwave integrated circuits (MMICs) might further challenge the growth of the monolithic microwave IC market in the near future.
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The COVID-19 pandemic outbreak had varying effects on the global MMIC market. Initially, due to several lockdowns and strict restrictions imposed, the demand for these circuits in aerospace was affected due to a fall in commercial aviation and passenger volume. MMICs used in the defense industry also suffered from supply chain disruptions. However, on the contrary, the pandemic led to increased dependence on digital technologies, thus, investments in wireless communications and 5G networks increased.
Delvens Industry Expert's Standpoint
The Monolithic Microwave IC (MMIC) Market is expected to see significant growth in the coming years due to the increasing demand for high-frequency applications across various industries, such as telecommunications, aerospace, defense, and automotive. With the advent of 5G technology, the need for high-speed wireless connectivity is expected to further boost the market growth of MMICs. Additionally, advancements in technology, such as the development of gallium nitride (GaN) and silicon carbide (SiC) materials, are expected to drive the adoption of MMICs in various applications. The Asia Pacific region is expected to be the largest market for MMICs due to the presence of a large number of semiconductor foundries and the increasing demand for wireless communication technology. Overall, the MMIC market is poised for significant growth in the coming years, and industry players are expected to focus on developing innovative products and expanding their customer base to stay competitive in this dynamic market.
Key Findings
• The type segment is further segmented into Gallium Arsenide, Indium Phosphate, Indium Gallium Phosphide, Silicon Germanium, and Gallium Nitride. The use of gallium arsenide in MMICs leads to lesser noise generation in devices as compared to other semiconductors. These are also relatively insensitive to heat as compared to silicon cells. For the aforementioned reasons, they hold the largest market share and are expected to continue doing so in the forecast period.
• The technology segment is further fragmented into HEMT, pHEMT, HBT, MESFET, mHEMT, E-pHEMT, and MOS. The largest market share is expected to be held by HEMT technology during the forecast period due to their increasing demand in different applications that require high gain and low loss at high-frequency bandwidth like radars, imagining, microwave, milliliter wave communication, and radio astronomy among others.
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The market in Asia Pacific holds the largest market share and highest growth rate and is expected to retain its position during the forecast period. The growth of the market in this region can be attributed to the high adoption rate of smartphones; a significant shift toward high-speed mobile technologies (for instance, the shift from 3G to 4G); increased use of mobile services including video, social media, e-commerce, and financial services; and rise in the military expenditure of countries such as China, India, Japan, and South Korea.
Monolithic Microwave IC (MMIC) Market Regional Analysis
Asia Pacific to Dominate the Market
• The market in Asia Pacific holds the largest market share and highest growth rate and is expected to retain its position during the forecast period.
• The growth of the market in this region can be attributed to the high adoption rate of smartphones; a significant shift toward high-speed mobile technologies (for instance, the shift from 3G to 4G); increased use of mobile services including video, social media, e-commerce, and financial services; and rise in the military expenditure of countries such as China, India, Japan, and South Korea.
Monolithic Microwave IC (MMIC) Market Competitive Landscape
• Analog Devices, Inc
• Broadcom
• Infineon Technologies AG
• MACOM
• Maxim Integrated
• Mini-Circuits, Inc
• NXP Semiconductors
• OMMIC S.A
• Qorvo, Inc
• Skyworks Solutions Inc
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Monolithic Microwave IC (MMIC) Market Recent Developments
• In April 2022, MACOM Technology Solutions Holdings, Inc. has been awarded a contract from the US Department of Defense (US) for developing a high-power transmitter. The contract requires MACOM to develop a 45-Kilowatt Radio Frequency (RF) transmitter using novel Gallium Nitride (GaN) semiconductor and antenna beamforming technology. MACOM’s solution is based on its proprietary best-in-class MACOM PURE CARBIDE GaN components and power-combining expertise.
• In November 2021, Qorvo, Inc. acquired United Silicon Carbide (UnitedSiC) (US), a leading manufacturer of silicon carbide (SiC) power semiconductors. The acquisition of United Silicon Carbide expands Qorvo’s reach into the fast-growing markets for electric vehicles (EVs), industrial power, circuit protection, renewables, and data center power. United Silicon Carbide will become a part of Qorvo’s Infrastructure & Defense Products (IDP) business.
Reasons to Acquire in the Monolithic Microwave IC (MMIC) Market
• Increase your understanding of the market for identifying the best and most suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for Monolithic Microwave IC (MMIC) Market so as to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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