Global Monolithic Microwave IC (MMIC) Market to Reach $23.6 Billion by 2030
The global market for Monolithic Microwave IC (MMIC) estimated at US$12.7 Billion in the year 2023, is expected to reach US$23.6 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2023-2030. Power Amplifiers, one of the segments analyzed in the report, is expected to record a 9.8% CAGR and reach US$8.5 Billion by the end of the analysis period. Growth in the Low Noise Amplifiers segment is estimated at 8.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $3.9 Billion, While China is Forecast to Grow at 8.5% CAGR
The Monolithic Microwave IC (MMIC) market in the U.S. is estimated at US$3.9 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4 Billion by the year 2030 trailing a CAGR of 8.5% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.3% and 7.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 7.2% CAGR.
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