The major factors driving the growth of this market include the huge demand from the smartphone market, growing bandwidth demand, and increasing usage of long-term evolution (LTE) technology.
Consumer electronics expected to hold largest share of LNA market based on vertical during forecast period
The consumer electronics vertical is expected to hold the largest share between 2017 and 2023. The growth is attributed to the growing adoption of consumer electronics devices such as wearable devices; smartphones, tablets, and laptops; portable navigation devices; portable media players; digital cameras; and gaming consoles; as well as increasing number of e-readers.
The LNA market for the silicon germanium material is expected to grow at the highest CAGR between 2017 and 2023. LNAs based on silicon germanium deliver better performance in the low-power, high-frequency applications than those based on other materials such as silicon and gallium arsenide. Silicon germanium LNAs provide better linear performance and enhanced power efficiency. Better efficiency and a lower cost of silicon manufacturing have made silicon germanium more popular in recent years.
Asia Pacific (APAC) held the largest share of the market in 2016 and is expected to dominate the LNA market with the largest share between 2017 and 2023. The growth in the region is attributed to significantly high rate of adoption of smartphones; dramatic shift toward higher speed mobile technologies from 3G to 4G; higher increasing range of mobile services consumed, including video, social media, e-commerce, and financial services; and high military expenditures by countries such as China, India, Japan, and South Korea.