RF GaAs Device Forecast and Outlook: 2022 - 2027 (Data Tables)
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The RF GaAs device revenue declined in 2022 amid headwinds from persistent supply chain issues, geopolitical tensions, and a high inflationary macro environment. Total RF GaAs device revenue (merchant and captive, excluding foundry) was worth about US$8 billion in 2022, a decrease from 2021. With global inflation and high interest rates persisting and fear of recession in the West looming, we expect RF GaAs device revenue to again decline in 2023. As central banks reign in the inflation and recession concerns, 5G device and network deployments will resume as the growth engine for RF GaAs device revenue from 2024 onwards, with the market again growing through 2027.
