The major factors leading to the rising demand for radiofrequency (RF) semiconductors are the increasing popularity of smartphones, enhancements in the wireless communication technologies, and escalating adoption of the internet of things (IoT). As a result, from $2.1 billion in 2019, the market of RF semiconductor will witness an 8.8% CAGR during 2020–2030 (forecast period), to reach $5.0 billion by 2030. Made of semiconductor materials, such components enable RF communication in an array of sectors.

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The material segment of the market is classified into indium phosphate, gallium arsenide, gallium nitride, silicon, and silicon germanium. Among these, during the historical period (2014–2019), the largest share was held by the gallium arsenide category because RF semiconductors made from this material consume less power, account for low power dissipation, can tolerate high temperatures and voltages, and are highly efficient.

The gallium nitride classification will witness the fastest market growth till 2030 on account of this material’s high strength, which makes it suitable for satellite, aerospace, and defense purposes. The categories under the component segment of the RF semiconductor market are power amplifiers, filters, tuners, low-noise amplifiers, switches, and others. The power amplifiers category dominated the market in 2019, as these components are crucial for telecommunication equipment and consumer electronics.

Thus, the rising demand for smartphones, laptops, surveillance systems, networking equipment, and IoT devices is driving the market. The highest CAGR during the forecast period is predicted to be experienced in the tuners category due to the high importance of tuners in mobile communication equipment and for high-speed data transmission.