Global Monolithic Microwave IC (MMIC) Market: Overview
Increasing defense budget in various countries and adoption of advanced technologies is projected to fuel growth in the global monolithic microwave IC (MMIC) market. Moreover, exponential growth seen in smartphone industry along with higher adoption of E band to meet the growing demand for bandwidth has augmented demand for monolithic microwave IC (MMIC). Higher emphasis given to wireless communication and development taking place to enhance space and defense sector are key areas fueling growth in this market.
The application of microwave monolithic integrated circuits has increased due to higher microwave range thus driving the demand in the global market. Evolution of 5G technology to has further boosted growth in the global monolithic microwave IC (MMIC) market. Apart from these above-mentioned factors, ongoing trends, regional growth, and developments are also influencing growth in this market. Efforts made by key players to enhance monolithic microwave IC (MMIC) uses will also benefit the market’s growth.
Global Monolithic Microwave IC (MMIC) Market: Notable Developments
Prominent players in the global monolithic microwave IC (MMIC) market are engaged in extensive research and development activities to enhance services of MMIC. Moreover, rising initiatives to establish better relation with other companies, players are engaged in strategies alliance like merger and acquisition and partnership. This will further diversify the growth in the global monolithic microwave IC (MMIC) market.
- Recently, Analog Devices (US) extended its design ecosystem and RadioVerse technology with the industry’s extensive bandwidth RF transceiver. This will provide designers with a single radio platform to enhance the sustain deployment of 5G, simplify phased array radar design, and 2G/3G/4G coverage.
- Another example is of NXP Semiconductors who recently launched RF GaN wideband power transistors. The company has also extended its Airfast third-generation Si-LDMOS portfolio of outdoor small cell solutions for 5G.
Other prominent players operating in the global monolithic microwave IC (MMIC) market includes Skyworks Solutions, MACOM, Qorvo, Broadcom, Maxim Integrated, Infineon Technologies, OMMIC, Mini-Circuits, WIN Semiconductors, Custom MMIC Design Services, and United Monolithic Semiconductors (UMS).
Global Monolithic Microwave IC (MMIC) Market: Trends and Opportunities
Increased spending in the defense sector in various countries has led the demand in the global monolithic microwave IC (MMIC) market. Evolution of 5G technology and increased number of space programs across the globe has further augmented growth in this market. High adoption rate of E band is also projected to drive demand in this market. However, challenges related with designing robust MMICs and high development costs of MMICs might hamper the growth in the global monolithic microwave IC (MMIC) market.
Technological and Scientific Developments to Strengthen Asia Pacific Market Monolithic Microwave IC (MMIC)
Emerging economies have huge potential to grow and offer lucrative growth opportunities as the market is in its budding age. With respect to monolithic microwave IC (MMIC), Asia Pacific offers high prospects of growth for monolithic microwave IC (MMIC) due to high adoption rate of smartphones. Rising shit towards high-speed mobile technologies for example, rising shift towards 4G from 3G and increasing use of mobile services has made this region a key market for the growth of monolithic microwave IC (MMIC).
China being a global manufacturing hub along expanding electronics industry and leading emerging economy makes it a key region that will enhance growth in the global monolithic microwave IC (MMIC) market. Moreover, technological and scientific developments also make it a leading regional market in Asia Pacific.
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