Monolithic Microwave IC (MMIC) Market by Component (Power Amplifiers, LNA, Attenuators), Material Type (GaAs, InP), Frequency Band (L, S, C), Technology (MESFET, HEMT), Application (Automotive, A&D), and Geography – Global Forecast to 2024
The monolithic microwave integrated circuit (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% between 2019 and 2024. The growth of the MMIC market is driven by 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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Monolithic Microwave Integrated Circuits (MMICs) consist of electronic devices placed on semiconductor wafers and are designed to operate in frequencies ranging from 300 MHz to 300 GHz. MMICs are used for high-frequency switching, power amplification, low-noise amplification, and microwave mixing, among other functions.
The major characteristics of MMICs are high breakdown voltage, high thermal conductivity, effective operability at high frequencies (up to microwave range), excellent power handling capability, and efficient power amplification. The use of MMICs for Radio Frequency (RF) transmissions and receptions is one of the major factors contributing to the increased demand for MMICs, with a significant focus on the development of microwave frequency (>1 GHz) RF-power amplifiers for widening the application base of RF devices.
Among component segments, the power amplifiers segment accounted for the largest share of the MMIC market in 2018. The growth of the power amplifiers segment can be attributed to the increased use of power amplifiers in defense, automotive, smartphone, and wireless communication applications. Continuously increasing demand for communication systems with high data transmission and reception rates is also contributing to the growth of the power amplifiers segment.
The gallium arsenide material type segment accounted for the largest share of the MMIC market in 2018. Using gallium arsenide in the manufacturing of MMICs results in less noise as compared to other semiconductor materials. Moreover, gallium arsenide cells are relatively insensitive to heat, unlike silicon cells. The advanced gallium arsenide E-pHEMT results in excellent return loss, lower noise, and higher linearity performance than silicon germanium MMICs.
The E-pHEMT technology type segment is expected to grow at the highest CAGR between 2019 and 2024. E-pHEMT technology can economically provide superior electrical performance in Very High Frequency (VHF) and Ultra-high Frequency (UHF) wireless communication bands. This technology is primarily used in power amplifier applications. It is also suitable for high-frequency ranges as it has saturated drain-source current (Idss) of less than 10 µA at room temperature and is capable of surviving highly mismatched conditions. Hence, E-pHEMT technology is being increasingly used in MMICs.
The L band frequency type segment is expected to grow at the highest CAGR between 2019 and 2024. The growth of this segment can be attributed to the increased demand for smartphones, evolution of LTE technology, and rise in demand for wideband-intensive applications in military and aerospace sectors. Being a relatively low-frequency band, L band is easy to process as it requires less complex and low-cost RF equipment. L band frequencies are used by Low Earth Orbit (LEO) satellites, military satellites, and terrestrial wireless communication systems such as GSM mobile phones.
The consumer/enterprise electronics application segment accounted for the largest share of the MMIC market in 2018. In the future, with the introduction of 5G technology, data transmission and reception rates are set to increase further. This is expected to boost the demand for MMICs in upcoming smartphone technologies. The growing use of smartphones and increasing demand for fast data transmission and reception rates are the major factors driving the growth of the consumer/enterprise electronics segment.
The MMIC market in APAC is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region can be attributed to the high adoption rate of smartphones; growth in the adoption of high-speed mobile technologies such as 4G; increased use of mobile services including video, social media, e-commerce, and financial services; and rise in military expenditures of countries such as China, India, Japan, and South Korea.