RF device market to reach $72 billion by 2031

The global radio frequency (RF) device market is projected to reach approximately $72 billion by 2031, according to Yole Group. While the market is expected to remain flat at $55.8 billion in 2026 due to a decline in smartphone shipments, a recovery is anticipated following a period of normalization in 2027–2028.

Growth in the latter half of the decade will be driven by new sectors, including defense, automotive, satellite communications, and 6G technology. The automotive segment is expected to exceed $5 billion by 2031, fueled by the adoption of radar, V2X, and ADAS. The defense and aerospace sector is also forecast to reach roughly $4 billion, supported by increased demand for electronic warfare and drone systems.

Geographically, U.S. companies maintain a dominant position, accounting for about 55% of global RF device revenue, led by players such as Qualcomm, Broadcom, Skyworks, and Qorvo. Chinese firms hold approximately 14% of the market, while European companies, led by NXP and Infineon, focus heavily on the automotive sector. Japan and South Korea collectively hold about 10% of the market share.