According to the Market Statsville Group (MSG), the global monolithic microwave IC market size is expected to grow from USD 8,684.0 million in 2021 to USD 23,507.0 million by 2030, at a CAGR of 11.7% from 2022 to 2030. A monolithic microwave integrated circuit (MMIC) is an integrated circuit that works at microwave frequencies. This device's capabilities include microwave mixing, low noise amplification, power amplification, and high-frequency switching. The MMIC market is expanding due to increased demand from the smartphone manufacturing sector.

MMIC devices are the preferred component for many high-frequency applications worldwide. The advantages of MMICs, such as their small size, low cost, and good repeatability, drive their widespread implementation. Microwave mixing, high-frequency switching, low-noise amplification, and power amplification are typical functionalities of these devices. The global MMIC market is expanding due to its increasing use of smartphones. The rapid development of the smartphone sector has significantly contributed to the market's expanding size and growth.

The smartphone industry's increased demand for monolithic microwave integrated circuits (MMICs) is likely to drive the growth of the monolithic microwave IC market during the forecast period. Furthermore, the rising popularity of E band to fulfill the expanding bandwidth requirements of cellular and wireless networks is driving the growth of the monolithic microwave IC market. Furthermore, countries' increased defense spending to modernize their defense stockpiles is expected to cushion the expansion of the monolithic microwave IC market.

However, an increase in the development cost of monolithic microwave integrated circuits (MMICs) is expected to limit the growth of the monolithic microwave IC market throughout the forecast period. Furthermore, the expansion of 5G technology, which will increase the need for (MMICs), will give chances for the monolithic microwave IC market in the next years. However, the development of robust monolithic microwave integrated circuits (MMICs) may significantly threaten the monolithic microwave IC market in the near future.

COVID-19 Impact on the Global Monolithic Microwave IC Market

The unexpected emergence of the COVID-19 pandemic has hampered market development, and the trend is projected to persist until the world's damaged supply networks normalize. The semiconductors sector had a supply shortfall in 2020 as a result of production unit shutdowns and a slowdown in logistical operations, but from 2021 onwards, a rebound was observed, which is likely to continue in the following 1-2 years. On the demand side, the COVID-19 epidemic has had a slight but noticeable influence on overall shipping. The COVID-19 epidemic has benefited the wireless communication infrastructure. For example, network demand increased due to increased demand for online classes for schools and universities (distance education) and required work-from-home standards in some areas of the world.

The market decline was seen in consumer/enterprise electronics and aerospace and defense because the semiconductor supply chain had a greater influence on these verticals than others. Furthermore, although work-from-home conventions, distant education, and greater migration of SMEs and non-cloud native organizations from on-premises to the cloud have bolstered device shipping growth, demand for MMICs in smartphones and PCs has been the least affected. Because of increased defense spending, government-led space missions initiatives, and 5G communication infrastructure advancements, a rapid rebound is projected in the post-pandemic period.

Global Monolithic Microwave IC Market Dynamics

Drivers: The Smartphone Industry is Driving The Demand for MMICs

The growing demand for MMICs from the smartphone sector is propelling the global MMIC market forward. MMICs are used in smartphones to boost data transmission speeds and to improve the reception of weak signals. These circuits improve data throughput within a given bandwidth by providing high-linearity performance with near-peak output, which is essential for complicated modulation. Using MMICs in smartphones also allows maximum network efficiency, with lower transmission power and bit error rates.

Over the last decade, the global adoption of cell phones has skyrocketed. This surge in smartphone users can be ascribed to the decreasing cost of cellphones, improved living standards, and the Internet's ubiquity. According to the Groupe Speciale Mobile Association (GSMA), mobile operators worldwide will invest USD 620 billion in their networks between 2022 and 2025, with 5G accounting for 85 percent of that investment. China, the world's largest consumer electronics market, is predicted to have more than 1 billion smartphone users by 2022. India can potentially develop tremendously in the industry, with 800 million new mobile connections predicted by 2022.

Restraints: MMICs have High Development Costs

MMIC development expenses are significant since the technologies utilized in its design are still in the early stages of development. MMIC production volume is also significantly limited, resulting in high manufacturing costs. Rare materials utilized in MMICs include GaAs, GaN, and indium phosphate. Because of the unique properties of the materials utilized in the production of MMICs, such as their high prices, restricted availability, and toxicity, MMICs employed in most commercial and defense applications are expensive, increasing the total cost spent in the supply chain. The high cost is one of the primary factors likely to limit the global growth of the MMIC market.

Opportunities: 5G Technology Evolution

There is a need to accommodate the increasing video content consumption by IoT-connected devices, driving increased mobile data consumption rates. 5G technology is planned to enable data speeds of more than 10 Gbps in specified circumstances such as dense indoor and outdoor areas. It is also planned to broaden the spectrum of frequencies utilized for mobile communication, allowing for higher mobile traffic and the utilization of transmission bandwidths capable of supporting high data transfer rates. This covers a new spectrum below 6 GHz as well as spectra in high-frequency bands.

The millimeter-wave (mmWave) frequency spectrum, which falls between the microwave and infrared spectrums, serves as a new source of capacity for cellular networks being made accessible for 5G networks. However, new equipment and radio access are required to harness this additional spectrum for the 5G rollout, including new base stations that enable transmission and reception at these frequencies and new devices with mmWave wireless. This will likely raise demand for MMICs, providing a potential opportunity for the industry.

Scope of the Global Monolithic Microwave IC Market

The study categorizes the monolithic microwave IC market based on material type, component, technology, frequency band, and application at the regional and global levels.

By Component Outlook (Sales, USD Million, 2017-2030)         

• Power Amplifiers
• Low-noise Amplifiers
• Attenuators
• Switches
• Phase Shifters
• Mixers
• Voltage-controlled Oscillators
• Frequency Multipliers

By Material Type Outlook (Sales, USD Million, 2017-2030)       

• Gallium Arsenide
• Indium Phosphate
• Indium Gallium Phosphide
• Silicon Germanium
• Gallium Nitride

By Frequency Band Outlook (Sales, USD Million, 2017-2030)

• W Band
• V Band
• L Band
• Ka Band
• S Band
• K Band
• C Band
• Ku Band
• X Band

By Application Outlook (Sales, USD Million, 2017-2030)

• Consumer/enterprise Electronics
• Wireless Communication Infrastructure
• Automotive
• Aerospace & Defense
• CATV and Wired Broadband
• Test and Measurement
• Others

By Technology Outlook (Sales, USD Million, 2017-2030)

• HEMT
• pHEMT
• HBT
• MESFET
• mHEMT
• E-pHEMT
• MOS

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Gallium arsenide segment is projected to account for the largest market share by material type

Based on material type, the monolithic microwave IC market is divided into gallium arsenide, indium phosphate, indium gallium phosphide, silicon germanium, and gallium nitride. The gallium arsenide category has the greatest market share and is projected to keep it during the projection period. The usage of gallium arsenide in MMICs produces less noise in devices than other semiconductor materials. Furthermore, gallium arsenide cells are relatively heated and insensitive, unlike silicon cells.

Asia-Pacific is projected to account for the largest market share, by Region

Based on the regions, the global monolithic microwave IC market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific market has the greatest market share and the highest growth rate over the forecast period. The growing use of mobile services like video, social media, e-commerce, and financial services, and the rise in military spending by nations like China, India, Japan, and South Korea, are all factors that have contributed to the expansion of the industry in this region.

Key Market Players in the Global Monolithic Microwave IC Market

The global monolithic microwave IC market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.

Major players in the global monolithic microwave IC market are:

• Analog Devices, Inc
• Broadcom
• Infineon Technologies AG
• MACOM
• Maxim Integrated
• Mini-Circuits, Inc
• NXP Semiconductors
• OMMIC S.A
• Qorvo, Inc
• Skyworks Solutions Inc

Recent Developments

• In April 2022, MACOM Technology Solutions Holdings, Inc. was granted a contract by the US Department of Defense (US) to build a high-power transmitter. MACOM is required to create a 45-Kilowatt Radio Frequency (RF) transmitter employing new Gallium Nitride (GaN) semiconductor and antenna beamforming technology under the terms of the contract. MACOM's solution is built around its best-in-class MACOM PURE CARBIDE GaN components and power combining expertise.
• In November 2021, Qorvo, Inc. acquired United Silicon Carbide (UnitedSiC) (US). Qorvo's purchase of United Silicon Carbide broadens its presence in the rapidly increasing areas of electric vehicles (EVs), industrial power, circuit protection, renewables, and data center power. United Silicon Carbide will be integrated into Qorvo's Infrastructure & Defense Products (IDP) division.

Key Issues Addressed

• What is the market size by various segmentation of the monolithic microwave IC by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the monolithic microwave IC market?
• What are the key opportunities and trends for manufacturers involved in the monolithic microwave IC supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of monolithic microwave IC in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.