The growth of the Monolithic Microwave IC (MMIC) Market can be attributed to the increased demand for MMICs from the flourishing smartphone industry, increasing adoption of E band to meet the growing bandwidth requirements of the space, defense, and wireless communication infrastructure sectors, and rising defense spending of countries, globally.
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The MMIC market is estimated to grow from USD 7.7 billion in 2019 to USD 12.7 billion by 2024, at a CAGR of 10.6% during the forecast period. The market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The major drivers for the growth of the MMIC market in Asia Pacific are the expanding cellular infrastructure in the region and the increasing number of telecom equipment shipments in countries such as China and India. The increased production of electronic devices in the region due to the low manufacturing cost and availability of cheap labor is another driver for the growth of the MMIC market in the region.
Key companies operating in the MMIC market are Analog Devices (US), NXP Semiconductor (Netherlands), MACOM (US), Qorvo (US), Skyworks Solutions (US), Broadcom (US), Infineon Technologies (Germany), Maxim Integrated (US), Mini-Circuits (US), OMMIC (France), WIN Semiconductors (Taiwan), United Monolithic Semiconductors (UMS) (France), Custom MMIC Design Services (US), Microarray Technologies (China), VectraWave (France), BeRex (South Korea), and Arralis (Ireland). These companies have operations worldwide and provide a wide range of products and services. They rely on their R&D capabilities and product innovations to gain a larger market share.
NXP Semiconductors (Netherlands) is a global semiconductor company and a long-standing supplier in the industry with over 50 years of innovative and operating history. The company is a provider of High Performance Mixed Signal (HPMS). The products offered by NXP Semiconductors are used across a wide range of end-market applications such as automotive, personal security and identification, wireless and wireline infrastructure, mobile communication, multi-market industrial, consumer electronics, and computing. NXP Semiconductors is a major player in the field of semiconductor solutions, owing to its wide geographic presence combined with its robust R&D capabilities. The company is growing due to the positive outlook for the automotive semiconductors, wearables, and the Internet of Things markets across the globe. NXP Semiconductors focuses on adopting organic growth strategies such as product launches to enhance its market position. For instance, it launched RF GaN wideband power transistors and expanded its Airfast third-generation Si-LDMOS portfolio of macro and outdoor small cell solutions for 5G in 2018.
Analog Devices (US) is a leading global company offering high-performance analog technologies. The products and technologies offered by the company intelligently bridge the physical and digital domains for sensing, measuring, powering, connecting, and interpreting applications. Analog Devices makes substantial investments in the design and development of new products and their manufacturing processes as well as in the improvement of existing products and manufacturing processes. The company invested USD 968.6 million in 2017 for the design and development of new products and manufacturing processes and improvement of the existing ones. The strategic acquisitions undertaken by the company are expected to provide incremental revenue generation avenues. For instance, in 2017, Analog Devices completed its acquisition of Linear Technology Corporation, an independent manufacturer of high-performance analog integrated circuits. This acquisition led to the integration of the premier analog technology company with the industry’s most comprehensive suite of high-performance analog offerings.
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