Monolithic Microwave IC Market to Hit $23.91 Billion by 2030
London, Tuesday, 4 February 2025.
The global monolithic microwave IC market is projected to grow from USD 14.53 billion in 2025 to USD 23.91 billion by 2030, driven by advancements in 5G and telecommunication systems.
Market Growth Analysis
The monolithic microwave IC (MMIC) market is experiencing significant growth, with a projected Compound Annual Growth Rate (CAGR) of 10.5% from 2025 to 2030 [1][2]. This expansion is primarily fueled by increasing demand for high data throughput in cellular and wireless networks, particularly for multimedia applications and broadband Internet services [1]. Current market valuations show the industry at USD 10.99 billion in 2024 [3], indicating strong momentum leading into the 2025-2030 forecast period.
Technological Drivers
High Electron Mobility Transistor (HEMT) technology is emerging as a crucial market driver, particularly in high-frequency, high-power, and low-noise applications [1][4]. The technology’s superior performance characteristics make it especially valuable in telecommunications, defense, and aerospace sectors [2]. Key frequency bands driving growth include the K-band (18 GHz to 27 GHz) and Ka-band (26.5 GHz to 40 GHz), which are essential for high-capacity wireless communication links [1].
Regional Market Dynamics
Asia Pacific is positioned to maintain the largest market share during the forecast period [1][2]. This dominance is attributed to rapid urbanization, substantial population growth, and aggressive expansion of 5G networks across the region [2]. Major electronics manufacturers contributing to this growth include Samsung (South Korea), Panasonic Corporation (Japan), and ABB (Switzerland), with China’s robust semiconductor manufacturing capabilities playing a significant role [2].
Industry Innovation and Future Outlook
The attenuators segment is expected to witness the highest CAGR within the market [1][4], driven by increasing deployment of 5G technology and growing demand for precise signal control [2]. Key industry players including Qorvo, Inc., MACOM, and Skyworks Solutions, Inc. are focusing on eco-friendly manufacturing processes and integrating advanced technologies such as AI and machine learning [3]. The market’s growth trajectory is further supported by increasing defense spending, which reached $2,443 billion in 2023, marking a 6.8% increase from the previous year [3].