Market Trends of RF And Microwave Diodes Industry
Growing Demand in Automotive Sector
- Discrete semiconductors are commonly utilized in the automotive industry, particularly in electronic systems within vehicles. Various discrete power devices, like RF and Microwave diodes, play a crucial role in numerous automotive applications, from ADAS to in-vehicle entertainment systems.
- Discrete semiconductors are often used in the automotive sector, especially in electronic systems found in vehicles. Various discrete power devices, such as RF and microwave diodes, are essential in many automotive applications ranging from ADAS to in-vehicle entertainment systems.
- In automotive electronics, RF and Microwave diodes play an important role by allowing current to flow in a specific direction. Made of semiconductor materials such as silicon or germanium, diodes have a PN junction and serve multiple functions like rectification, signal modulation, signal detection, voltage stabilization, and light emission. The unique conductive properties of diodes make them essential for power protection and electronic circuits. With the growing use of electronic components in the automotive sector, the need for diodes is expected to rise significantly.
- As per the IEA, nearly 14 million new electric cars were registered globally in 2023, bringing the total number of electric cars on the roads to 40 million. This closely aligns with the sales forecast from the 2023 edition of the Global EV Outlook (GEVO-2023). Sales of electric cars in 2023 saw a significant rise of 3.5 million compared to the previous year, marking a 35% year-on-year growth. Electric cars comprised approximately 18% of all car sales in 2023, up from 14% in the last year to just 2% in 2018. These trends suggest that the electric car market is growing steadily. This growth is expected to create more demand in the market.
- The automotive industry is anticipated to see a growth in the use of semiconductors as new applications emerge. Semiconductor technology plays a significant role in vehicle designs, with cars now incorporating various telematics and infotainment features. This transformation has turned cars into mobile hotspots, providing drivers with information on various aspects, such as collision avoidance and available parking spots. The rising consumer demand for luxury car features in non-luxury cars has increased global demand for RF and microwave diodes.
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Asia Pacific to Register Major Growth
- The Asia-Pacific region offers promising growth opportunities for the RF Diodes market, which is driven by rapid urbanization, increasing disposable incomes, and improved healthcare access. Market expansion efforts emphasize product customization, forming strategic partnerships, and investing in research and development.
- The Asia-Pacific market is witnessing robust growth, driven by the rising adoption of communication services in the automotive and consumer electronics sectors. This surge is buoyed by the region's sizable population, escalating disposable incomes, and rapid urbanization, fueling a heightened demand for RF diode products and services.
- Additionally, in the Asia Pacific region, mobile connectivity is considered the primary form of internet access, especially since it is the only option for most of the population. According to the ITU, the global number of mobile broadband subscriptions has significantly increased from 268 million in 2007 to an estimated 7.03 billion in 2023. It is worth noting that the Asia-Pacific region is leading the market with the highest number of mobile broadband subscriptions, surpassing 3.9 billion subscriptions as of 2022.
- Moreover, the growing demand for consumer electronics in Asia Pacific nations like China, the Republic of Korea, India, and Singapore has motivated many companies to establish regional manufacturing facilities. The availability of abundant raw materials and cost-effective start-up and labor expenses are facilitating businesses in setting up production hubs in the area. Additionally, there is notable growth in the automotive industry.
- The adoption of 5G technology is expected to increase in the Asia-Pacific region as the technology becomes more widely available. According to GSMA, China is projected to have the largest number of 5G mobile connections by 2025, with 1 billion connections, while Japan is expected to have 129 million 5G connections.
- The Asia-Pacific countries, including China, the Republic of Korea, India, and Singapore, are experiencing an increasing demand for consumer electronics, prompting many companies to establish manufacturing facilities in the region. The availability of abundant raw materials and affordable start-up and labor expenses are facilitating businesses in setting up production centers in the area.
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