The global radio frequency integrated circuits (RFIC) market is expected to grow at a CAGR of 6.7% during 2016-2022. Among the various products, the transceiver segment accounted for largest share in the global radio frequency integrated circuits (RFIC) market in 2015.

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The Wi-Fi product segment is expected to witness a considerable growth during the forecast period. The growing demand for combo RFIC in consumer electronics, including Wi-Fi, NFC, Bluetooth and GPS, is expected to boost the growth of the global market during the forecast period. The demand for standalone Bluetooth is mainly expected from automotive, printers, and wireless headsets, owing to the low cost of Bluetooth along with low power consumption of the standalone Bluetooth.

Despite the slow growth, the NFC market has grown over the past few years, owing to their increasing market penetration in Asia-Pacific. Moreover, with the growing smartphone shipments, the NFC market is expected to witness considerable growth during the forecast period. In spite of its technical benefits, the ZigBee technology has not grown as per the market requirement, owing to the non-user friendly design in addition to cost-effective and power efficient substitutes of ZigBee, such as Bluetooth. However, the ZigBee technology is expected to witness growth in the security and surveillance sector during the forecast period.

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The RF Micro-Electro-Mechanical Systems (MEMS) segment accounted for small share in the global RFIC market; however, it has grown significantly during the past few years, owing to their wide adoption in the automotive infotainment applications. The growing demand of RFIC in the consumer electronics has led to high volume production of RFICs in the recent years.

From technical point of view, the improvement in sensing capacity, along with reduction in the average cost and package size of the RFICs has led to their wide adoption in the consumer electronics market. The devices, such as smartphone, smart wrist wears and other smart wearable devices have very limited space for surface area and height. Thus, the small and thin package size of RFICs is placed at higher priority by market obligation.

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Some of the major companies operating in the global radio frequency integrated circuits (RFIC) market include, Infineon Technologies AG, Qualcomm Technologies Inc., Renesas Electronics Corporation, Silicon Laboratories, STMicroelectronics N.V., TriQuint Semiconductor, Avango Technologies, and Skyworks Solutions Inc.