The major factors responsible for the growth of the radiofrequency (RF) transceiver market are the increasing demand for smartphones and rising penetration of the internet of things (IoT) technology. Due to this, the revenue generated by the market players, which stood at $3,892.1 million in 2019, is projected to grow at a 0.8% CAGR during 2020–2030 (forecast period), to reach $3,384.5 million by 2030. The RF transceiver is an important instrument in telecommunications, as it receives and transmits voice and data signals in the form of RF waves.

Moreover, telecommunications, military & defense, consumer electronics, aerospace, cable/broadcasting, healthcare, and others are the categories under the vertical segment. In 2019, the consumer electronics category generated the highest revenue in the RF transceiver market because of the rapidly rising demand for tablets, smartphones, desktop computers, gaming consoles, laptops, networking equipment, IoT devices, and surveillance equipment. With people’s rising disposable income driving the demand for such products, the consumer electronics category will also witness the fastest growth till 2030.

A key driver for the RF transceiver market is the rising adoption of the IoT on account of the increasing awareness about the technology’s advantages in operational data gathering and preventive maintenance. Moreover, the rampant construction of smart cities is propelling the usage of several types of smart ecosystems, such as smart homes, smart factories, smart traffic signals, smart waste management systems, and smart utilities. The rising adoption of the IoT has significant raised the demand for fast and smooth internet connectivity, in turn, propelling the integration of 5G RF transceivers.

Presently, the RF transceiver market players generate the highest revenue in Asia-Pacific (APAC), owing to the rapid growth in the telecommunications and consumer electronics industries of regional countries. With the increasing demand for smartphones, rising penetration of the internet, surging usage of social media, music, video streaming, gaming, and news websites, and growing usage of IoT, the market will keep experiencing prosperity in the region.

Hence, with the advancements in the telecommunications infrastructure around the world, the demand for 4G and 5G RF transceivers will pick up.