The global varactor diode market was valued at US$ 721.3 Million in 2021 and is expected to surpass US$ 1,924.47 Million by 2030, registering a CAGR of 10.7% during the forecast period (2022-2030), according to the Global Varactor Diode Market Report, by Breakdown Voltage (5 V - 30 V, 31V - 65V, 65 V & Above), by Application (Mobile Devices, Satellite Communication, Defense, Aviation and Marine), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
The demand for varactor diode is growing in emerging countries such as India and China, owing to increasing use of mobile devices such as smartphones and tablets for entertainment, commercial, and educational purpose. Varactor diodes are also known as varicap diodes, which are used in wireless infrastructure to develop 5G technology that helps to enhance linearity function for high speed applications in 5G technology. Earlier varactor diodes were used abundantly in radios to tune the frequency output and match with the radio station frequency but in the recent years it has been replaced by smartphones.
Varactor diodes are widely used in radars for satellite communication to tune/switch the operating frequency, control the position of the radiation pattern, and detect objects such as spacecraft, aircraft, guided missiles, and motor vehicles. Furthermore, varactor diodes are reliable, small in size, economical and lightweight making them suitable for satellite and radar applications. Growing use of radars and satellites is expected to drive growth of the global varactor diode market positively.
Key Developments
- In March 2022, NXP Semiconductors announced that NXP’s Layerscape and Layerscape Access family of processors will be used to power 5G Integrated Small Cell (ISC) solution, which is designed by Compal Electronics, one of the world's largest ODMs (Original Design Manufacturers) to enhance 5G networks density.
Varactor Diode Market - Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has affected company activities, personal living, and economic growth across the globe. Several enterprises that were prospering prior to the pandemic have faced major revenue losses and seen a slow growth rate. Borders were closed and mass lay-offs and economic uncertainties curtailed customer spending of people on consumer devices such as smartphones, television, tablets, and others. Varactor diodes are used in consumer devices on a large scale. Thus, the decline in the purchase of consumer devices also impacted the varactor diode demand due to which the global varactor diode market witnessed slow growth.
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Key Trends and Analysis of the Global Varactor Diode Market:
- Asia Pacific held dominant position in the global varactor diode market in 2021, and is projected to retain its dominance throughout the forecast period. The demand for mobile devices in the Asia Pacific region is growing significantly owing to the rising disposable income of the people. For instance, as per the reports published by GSMA, a global organization unifying the mobile ecosystem, in 2021 states that in Southeast Asia mobile connections will rise from 51% to 71% by 2025 and in South Asia it will rise from 54% to 76% by 2025.
- North America is expected to be the fastest-growing market throughout the forecast period, owing to huge investment by the U.S. government in research and development of military equipment and weapons, which need varactor diode. Varactor diodes when used in military equipment and weapons provide signal tracking filters and help detect objects such as aircraft, spacecraft or guided missiles. Hence, the demand for varactor diodes is driving the growth of the varactor diode market in North America region.
- Among application segment, satellite communication segment is expected to be the fastest growing segment throughout the forecasted period. This is owing to use of varactor diodes in radars, which are used in satellite communication to tune/switch the operating frequency, or control the position of radiation pattern, and detect objects such as spacecraft, aircraft, guided missiles, and motor vehicles.
Major players operating in the global varactor diode market include NXP Semiconductors, STMicroelectronics, Arrow Electronics, Inc., Infineon Technologies AG, ON Semiconductor, MACOM, Vishay Intertechnology, Inc., Microsemi, Analog Devices, Inc., Integrated Device Technology, Inc., Toshiba, and Skyworks Solutions.
