Increasing adoption of mobility solutions fuelling the growth of the varactor diode market across the globe
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Countries in the Asia Pacific region like China and India have a huge mobile subscriber base and this growth has happened in the past few years. These countries are continuously driving the development of 5G mobile technologies and this impacts directly the growth of varactor diode market, since these diodes are used in mobile devices, especially the smartphones. The mobile subscriber base continues to grow in the major countries of the Asia Pacific region, and more and more users are coming online. The increasing range of mobile services such as social media, e-commerce and financial services is also likely to drive the global varactor diode market in a positive manner. In addition, mobile broadband has turned out to be a dominant technology that contributes to half of the total connections across the globe.
Moreover, there is an increasing demand for consumer electronics globally. The consumer electronics market includes smartphones, tablets and electronic gadgets like DVD recorders and players. Due to the increasing demand for such kind of devices, there is a positive impact on the global varactor diode market. Also, the demand for varactor diodes is expected to be driven by emerging consumer electronic technology products during the forecast period.
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Rising expenditure on research and development by the defence industry likely to have a positive impact on the global varactor diode market
Presently, vendors in the defence industry are primarily focusing on product enhancement and speeding up their research and development process. The growth of varactor diodes or tuning capacitors is directly proportional to the rising use of radars, as radars contain VCOs, and these VCOs ultimately contain varactor diodes. Such kind of radars are often used in several types of military applications, which include military aircrafts, ships and seaports. For example, in June 2016, Lockheed Martin partnered with Australia Defence Science and Technology (DST) Group. The main objective of this partnership is to develop several enhancements for the over-the-horizon radars, so that they are able to detect small, fast moving objects at night at extremely long ranges. In addition, Lockheed Martin has invested US$ 100 Mn in defence start-ups to speed up research and development process.
As per the projections given by Market Insights, the defence, aeronautics and marine segment in the application category was estimated to be valued at nearly US$ 54 Mn in 2017 and is likely to reach a valuation of US$ 150 Mn in 2027, registering a CAGR of 10.1% during the period of assessment 2017-2027. The satellite communication segment in the application category was estimated to be valued at nearly US$ 110 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 260 Mn in 2027, displaying a CAGR of 9.3% during the period of forecast. The DVD recorders segment in the application category was estimated to be valued at nearly US$ 60 Mn in 2017 and is likely to reach a valuation of nearly US$ 140 Mn in 2027, registering a CAGR of 8.4% during the period of forecast.
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