Millimeter Wave and Microwave RF Transceiver Market size is set to grow by USD 4.30 billion from 2024-2028, Increasing use of smartphones to boost the market growth, Technavio

NEW YORK, June 6, 2024 /PRNewswire/ — The global millimeter wave and microwave RF transceiver market size is estimated to grow by USD 4.30 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 10.49% during the forecast period. The IoT market’s expansion is driving the demand for RF transceivers in millimeter wave and microwave frequencies. With an estimated 34 billion connected devices by 2023, generating 50 trillion GB of data, RF technology plays a crucial role in IoT communication. Transceivers, such as Analog Devices’ ADF7030-1, offer superior interference immunity and low power modes, making them ideal for IoT devices. This trend is expected to boost the market growth for RF transceivers during the forecast period. 

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Forecast period


Base Year


Historic Data

2018 – 2022

Segment Covered

Application (Mobile phones, Tablets, PCs and laptops, Smart TVs, and Set-top boxes) and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Analog Devices Inc., Broadcom Inc., Cisco Systems Inc., GCT Semiconductor Inc., Lime Microsystems Ltd., MediaTek Inc., Microchip Technology Inc., Millimeter Wave Products Inc., Norden Millimeter Inc., NVIDIA Corp., NXP Semiconductors NV, Phi Microtech Co. Ltd., Qorvo Inc., Qualcomm Inc., Renaissance Electronics and Communication LLC, Renesas Electronics Corp., RF Microtech srl, Silicon Motion Technology Corp., Skyworks Solutions Inc., and STMicroelectronics International N.V.


Key Market Trends Fueling Growth

The Millimeter Wave and Microwave RF Transceiver Market is experiencing significant growth due to the increasing demand for high-speed wireless communications. Technology trends include the use of 5G technology, which requires advanced transceivers to support high data rates and low latency. Common applications include autonomous vehicles, IoT devices, and military communications.

The market is competitive with key players offering advanced features such as high linearity, low power consumption, and wide bandwidth. The use of advanced semiconductor technologies and the integration of artificial intelligence and machine learning are also driving innovation in this market. The future looks bright for this industry as the demand for faster and more reliable wireless communications continues to grow. 

Market Challenges

  • The miniaturization trend in electronic devices has driven up transistor integration on ICs, complicating transceiver chip design and manufacturing. Vendors must invest heavily in new tools and processes to keep up with evolving device standards. Design challenges, such as clock frequency limitations, add to development costs.
  • However, OEMs push for lower component costs, creating a market growth hurdle. Keywords: miniaturized electronic devices, transistor integration, transceiver chips, design complexity, manufacturing process, high-performance, power-efficient, evolving device standards, development costs, OEMs.
  • The Millimeter Wave and Microwave RF Transceiver Market face several challenges. Technology requirements include high data rates, low power consumption, and small form factors. Complexity arises from the need for integration of multiple functions such as antenna arrays, power amplifiers, and filters.
  • Cost is a significant challenge due to the high manufacturing costs of millimeter wave components. Regulatory hurdles, including spectrum availability and licensing, add to the complexity. Additionally, ensuring reliable performance in various environments and applications is essential. Overall, the market requires innovative solutions to address these challenges and drive growth.

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Segment Overview 

  1. Application 
  • 1.1 Mobile phones
  • 1.2 Tablets
  • 1.3 PCs and laptops
  • 1.4 Smart TVs
  • 1.5 Set-top boxes
  • Geography 
    • 2.1 APAC
    • 2.2 North America
    • 2.3 Europe
    • 2.4 South America
    • 2.5 Middle East and Africa

    1.1 Mobile phones- The millimeter wave and microwave RF transceiver market for mobile phones is projected to experience a gradual decline in Year-over-Year growth during the forecast period. This trend is primarily due to the decreasing Average Selling Price (ASP) of transceivers in smartphones and intense price competition among vendors. The global smartphone market has seen an influx of new entrants, leading to lower smartphone prices and a subsequent decrease in transceiver ASP. Despite this, the demand for transceivers is anticipated to increase with the expanding mobile phones market, driving market growth.

    For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

    Research Analysis

    The Millimeter Wave and Microwave RF Transceiver Market encompasses advanced wireless technologies, including mobile phones, tablets, Smart TVs, PCs, laptops, set-top boxes, sensors, actuators, and 5G communication systems. These transceivers operate in the millimeter wave band and radio frequencies, enabling high-bandwidth applications such as imaging, sensing, and atmospheric absorption.

    The essential enabler of 5G networks, these transceivers are crucial for low-latency communication in various sectors, including autonomous vehicles, augmented reality, and telecommunication infrastructure. TG certified transceivers are increasingly being adopted for their ability to deliver lower latency and superior performance in video streaming applications. Millimeter wave and microwave RF transceivers are the backbone of wireless technologies, driving innovation and growth in the 5G era.

    Market Research Overview

    The Millimeter Wave and Microwave RF Transceiver Market encompasses technologies and solutions that enable wireless communication through the transmission and reception of radio frequency signals. These transceivers operate in the microwave and millimeter wave frequency bands, supporting applications such as telecommunications, radar systems, satellite communications, and automotive sensing.

    The market is driven by factors like increasing demand for high-speed wireless connectivity, growing adoption of IoT devices, and advancements in semiconductor technology. Transceivers in this market offer features like high data rates, low power consumption, and compact form factors, catering to various industries and applications. The market is expected to grow significantly due to the ongoing development of 5G networks and the increasing demand for advanced sensing technologies.

    Table of Contents:

    1 Executive Summary
    2 Market Landscape
    3 Market Sizing
    4 Historic Market Size
    5 Five Forces Analysis
    6 Market Segmentation

    • Application
      • Mobile Phones
      • Tablets
      • PCs And Laptops
      • Smart TVs
      • Set-top Boxes
    • Geography
      • APAC
      • North America
      • Europe
      • South America
      • Middle East And Africa

    7 Customer Landscape
    8 Geographic Landscape
    9 Drivers, Challenges, and Trends
    10 Company Landscape
    11 Company Analysis
    12 Appendix

    About Technavio

    Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

    With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


    Technavio Research
    Jesse Maida
    Media & Marketing Executive
    US: +1 844 364 1100
    UK: +44 203 893 3200

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    SOURCE Technavio

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