CAGR: 12.1%Current Market Size: USD 10.01 billionFastest Growing Region: North America
Largest Market: APACProjection Time: 2022-2029Base Year: 2021
The global Monolithic Microwave IC market is expected to grow from USD 10.01 billion in 2021 to USD 24.43 billion by 2029, at a CAGR of 12.1% during the Projection period 2022-2029. This market growth is driven by increased adoption of the E frequency band and the proliferation of next-generation warfare techniques.
A monolithic Microwave Integrated Circuit (MMIC) is an IC device that operates at microwave frequencies of 300 MHz to 300 GHz. It is the highly-dense component package that utilizes and processes microwave signals internally. This component is constructed using materials such as GaAs, InP, GaN, and SiGe. Among these materials, SiC is preferred up to 5 GHz, SiGe up to 80 GHz at low power, GaAs up to 100 GHz but low power, GaN-Si up to 8 GHz, and GaN-SiC up to 100 GHz at high power. Monolithic and hybrid microwave ICs are two types of components that are used to provide diverse functions for high-frequency microwave systems. Both of these types of ICs are placed into packages with epoxy.
The MMICs are mainly used for applications ranging from specialist phased arrays and multi-Gbit per second optical communications components to home satellite receivers and mobile phones. These ICs have become popular in high-frequency applications due to their small size, high performance, and reasonable cost.
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Market Dynamics:
Drivers:
Microwave Integrated Circuits (MICs) are extensively used across small electronic devices that function via electromagnetic and electronic frequencies, such as cell phones, remote-controlled systems, GPS devices, and imaging devices. In smartphones, MMICs have become the prominent component for efficient reception of weak signals and enhanced smartphone data transfer rates. Hence, the growing smartphone sector is fueling demand for MMICs. For instance, Samsung shipped 274.5 million smartphone units in 2021, which is 19 million more with a 7% growth compared to the company’s 2020 shipments.
The e frequency band is referred to the range of radio frequencies from 60 GHz to 90 GHz in the electromagnetic spectrum. The growing bandwidth requirements of wireless and cellular networks have increased the adoption of the E frequency band, fueling the MMICs market. In addition, the Millimeter Wave (MMW), using E-Band and V-Band, has become the essential technology for high speed of 10Gbps (10 Gigabit per second) high-capacity wireless links. Moreover, high-frequency microwaves in the E frequency band spectrum have enabled wireless links to be densely deployed in urban areas without interference and needing to dig for cables. Therefore, increased adoption of the E frequency band has boosted demand for MMICs and contributed to the growth of the global market.
Restraints:
The MMICs offer a significant number of benefits and applications; however, there are some significant drawbacks to the use of MMICs, which may hamper the growth of the global market to some extent. For instance, the performance of MMICs can be compromised due to the inability to use optimal materials while manufacturing each element individually. In addition, the power handling capacity is lower due to the lack of proper heat transfer materials to be used in the fabrication of MMIC. Such factors may considerably impact the growth of the MMICs market.
Opportunities:
In March 2021, Germany’s Ferdinand-Braun-Institut and the European Space Agency (ESA) introduced the Kassiopeia project for the development of Ka-band gallium nitride (GaN) monolithic microwave integrated circuits (MMICs), with applications in radar and satellite technologies. In addition, in March 2022, the Defence Research and Development Organisation (DRDO), the agency under the Department of Defence Research and Development in the Ministry of Defence of the Government of India, announced that the MMICs had been used in radar imaging satellite modules of EOS 04, an Indian Space Research Organisation Radar Imaging Satellite. This proliferation of MMIC technology in the global space sector is expected to create lucrative growth opportunities for the market.
Challenges
The ICs design challenges have been posed by the current data-driven era. There is a need for processing large volumes of data along with re-using the data while maintaining power efficiency. This has resulted in complex designs of ICs, and design engineers often need to consider trade-offs among the components to manage the speed and volume of data that is flowing through the circuits. Such design challenges and the higher-end applications demand are expected to create considerable challenges to the MMIC market.
Segmentation Analysis:
The global Monolithic Microwave IC market has been segmented based on component, material type, technology, frequency band, application, and regions.
By Component
The component segment includes power amplifiers, low-noise amplifiers, attenuators, switches, phase shifters, mixers, voltage-controlled oscillators, and frequency multipliers. The power amplifiers segment led the Monolithic Microwave IC market with a market share of around 26.6% in 2021. This is attributed to the significant demand for MMIC power amplifiers in applications such as electronic warfare, radars, microwave communications, and instrumentation (test and measurement). In addition, the market players are actively introducing the MMIC power amplifiers products, creating lucrative growth opportunities for the market. For instance, in December 2021, Microchip Technology introduced MMICs and the discrete transistors covering frequencies up to 20 GHz. This launch has expanded the Gallium Nitride (GaN) Radio Frequency (RF) power device portfolio of Microchip Technology.
By Material Type
The material type segment includes gallium arsenide, indium phosphate, indium gallium phosphide, silicon germanium, and gallium nitride. The gallium arsenide segment led the Monolithic Microwave IC market, with a market share of around 31.2% in 2021. Increasing preference for gallium arsenide in MMICs due to the need for lesser noise generation in devices compared with other semiconductor materials has primarily boosted the segment's growth. In addition, gallium arsenide devices are comparatively insensitive to overheating due to their wide energy band gap. Such features of gallium arsenide as a semiconductor material make it suited for fabricating high-speed and high-performance devices.
By Application
The application segment includes consumer/enterprise electronics, wireless communication infrastructure, automotive, aerospace & defense, CATV and wired broadband, test and measurement, and others. The consumer/enterprise electronics segment led the Monolithic Microwave IC market with a market share of around 26.04% in 2021. Increased demand for digitization has boosted the demand for MMICs in consumer/enterprise electronics products. In addition, an upsurge in MMIC applications in consumer electronics such as smartphones, WiFi systems, and tablet computers due to the need for high-performance levels and low power consumption has further boosted the market's growth.
By Regional Analysis:
The regions analyzed for the Monolithic Microwave IC market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. Asia Pacific region dominated the Monolithic Microwave IC market and held the 41.06% share of the market revenue in 2021.
Global Monolithic Microwave IC Market - Country Analysis:
Germany's Monolithic Microwave IC market size was valued at USD 1.20 billion in 2021 and is expected to reach USD 2.89 billion by 2029, at a CAGR of 11.8% from 2022 to 2029. Germany is one of the leading nations in the mechanical engineering, manufacturing, automotive, and electrical industries. In Europe, Germany is the leading electronics market in production and sales. Also, this country boasts a considerable density of leading device manufacturers and suppliers for components, materials, and equipment across the entire value chain of the semiconductors sector. Such factors contribute to the growth of Germany's monolithic microwave IC market.
China's Monolithic Microwave IC market size was valued at USD 1.78 billion in 2021 and is expected to reach USD 4.31 billion by 2029, at a CAGR of 11.9% from 2022 to 2029. China is the electronics manufacturing hub across the globe. In addition, in January 2021, the Chinese government introduced expansion plans for the domestic electronic components market to $327 billion by 2023. Such plans are opportunistic for the growth of the China monolithic microwave IC market. In addition, the Chinese chipmakers are expanding their global presence with various strategies such as acquisitions and partnerships, creating lucrative growth opportunities for the market. For instance, in March 2021, Semiconductor Manufacturing International Corporation (SMIC), one of the leading Chinese chipmakers, announced a deal with ASML to supply machinery used to produce wafers.
India's Monolithic Microwave IC market size was valued at USD 0.87 billion in 2021 and is expected to reach USD 2.17 billion by 2029, at a CAGR of 12.3% from 2022 to 2029. India is one of the strongest growing economies in Asia. In addition, the electronics sector in the country contributes about 3.4% of the country's Gross Domestic Product (GDP). Moreover, the rising investment trend in semiconductor manufacturing in the country is opportunistic for the growth of the MMIC market. For instance, in February 2022, the government of India announced that the country had received proposals worth about $20.5 billion from five companies for setting up semiconductor and display fabrication units.
Key Industry Players Analysis:
To increase their market position in the global monolithic microwave IC business, top companies are focusing on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, and partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
12.1% |
Market Size |
10.01 billion in 2021 |
Projection period |
2022-2029 |
Projection unit |
Value (USD) |
Segments covered |
Component, Material Type, Technology, Frequency Band, Application , and Regions |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Analog Devices, Inc., NXP Semiconductors N.V., MACOM Technology Solutions Holdings, Inc., Qorvo, Inc., Skyworks Solutions, Inc., Infineon Technologies AG, Mini-Circuits, OMMIC, WIN Semiconductors Corp., and United Monolithic Semiconductors among others |
By Component |
|
By Material Type |
|
By Technology |
|
By Frequency Band |
|
By Application |
|
Regional scope |
|
Scope of the Report
Global Monolithic Microwave IC Market by Component:
Global Monolithic Microwave IC Market by Material Type:
Global Monolithic Microwave IC Market by Technology:
Global Monolithic Microwave IC Market by Frequency Band:
Global Monolithic Microwave IC Market by Application:
Global Monolithic Microwave IC Market by Region:
The global Monolithic Microwave IC market is expected to grow from USD 10.01 billion in 2021 to USD 24.43 billion by 2029, at a CAGR of 12.1% during the Projection period 2022-2029.
Asia Pacific region dominated the Monolithic Microwave IC market and held the 41.06% share of the market revenue in 2021
China is the electronics manufacturing hub across the globe. In addition, in January 2021, the Chinese government introduced expansion plans for the domestic electronic components market to $327 billion by 2023. Such plans are opportunistic for the growth of the China monolithic microwave IC market. In addition, the Chinese chipmakers are expanding their global presence with various strategies such as acquisitions and partnerships, creating lucrative growth opportunities for the market. For instance, in March 2021, Semiconductor Manufacturing International Corporation (SMIC), one of the leading Chinese chipmakers, announced a deal with ASML to supply machinery used to produce wafers
Applications are consumer/enterprise electronics, wireless communication infrastructure, automotive, aerospace & defense, CATV and wired broadband, test and measurement, and others
Leading market players active in the global monolithic microwave IC market are Analog Devices, Inc., NXP Semiconductors N.V., MACOM Technology Solutions Holdings, Inc., Qorvo, Inc., Skyworks Solutions, Inc., Infineon Technologies AG, Mini-Circuits, OMMIC, WIN Semiconductors Corp., and United Monolithic Semiconductors among others.
The ICs design challenges have been posed by the current data-driven era. There is a need for processing large volumes of data along with re-using the data while maintaining power efficiency. This has resulted in complex designs of ICs, and design engineers often need to consider trade-offs among the components to manage the speed and volume of data that is flowing through the circuits. Such design challenges and the higher-end applications demand are expected to create considerable challenges to the MMIC market.
Political Factors- China is the electronics manufacturing hub across the globe. In addition, in January 2021, the Chinese government introduced expansion plans for the domestic electronic components market to $327 billion by 2023. Such plans are opportunistic for the growth of the China monolithic microwave IC market. In addition, the Chinese chipmakers are expanding their global presence with various strategies such as acquisitions and partnerships, creating lucrative growth opportunities for the market. For instance, in March 2021, Semiconductor Manufacturing International Corporation (SMIC), one of the leading Chinese chipmakers, announced a deal with ASML to supply machinery used to produce wafers.
Economic Factors- India is one of the strongest growing economies in Asia. In addition, the electronics sector in the country contributes about 3.4% of the country's Gross Domestic Product (GDP). Moreover, the rising investment trend in semiconductor manufacturing in the country is opportunistic for the growth of the MMIC market. For instance, in February 2022, the government of India announced that the country had received proposals worth about $20.5 billion from five companies for setting up semiconductor and display fabrication units.
Social Factor- The growth of this region is mainly attributed to the fact that the Asia-Pacific region has become a manufacturing hub for electronic components and devices. In addition, the countries such as China, India, Japan, and South Korea are seeing a surge in investments across the electronics & semiconductors sector. Furthermore, the high penetration rate of smartphones and the ongoing shift toward high-speed mobile technologies such as 4G & 5G in the region is opportunistic for market growth.
Technological Factors- In March 2021, Germany’s Ferdinand-Braun-Institut and the European Space Agency (ESA) introduced the Kassiopeia project for the development of Ka-band gallium nitride (GaN) monolithic microwave integrated circuits (MMICs), with applications in radar and satellite technologies. In addition, in March 2022, the Defence Research and Development Organisation (DRDO), the agency under the Department of Defence Research and Development in the Ministry of Defence of the Government of India, announced that the MMICs had been used in radar imaging satellite modules of EOS 04, an Indian Space Research Organisation Radar Imaging Satellite. This proliferation of MMIC technology in the global space sector is expected to create lucrative growth opportunities for the market.
Environmental Factors- The rising environmental pollution levels and increasingly degrading indoor air quality. The power handling capacity is lower due to the lack of proper heat transfer materials to be used in the fabrication of MMIC; this widely affects the environment.
Legal Factors- In May 2022, STMicroelectronics partnered with MACOM Technology Solutions Holdings Inc. to produce radio-frequency Gallium-Nitride-on Silicon (RF GaN-on-Si) prototypes. The companies are further expected to work together, enhance their relationship, and collaborate on various semiconductor technologies through this achievement. In May 2021, Analog Devices Inc. launched HMC8205, a wideband gallium nitride (GaN) MMIC power amplifier to ensure enhanced performance within a compact design. This product covers the 300 MHz to 6 GHz spectrum and is projected to serve applications such as wireless infrastructure, public mobile radio, and radar.
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