A varactor diode is a P-N junction diode that changes its capacitance and series resistance when the bias applied to the diode is varied. Varactor diodes has wide range of application such as automatic frequency controllers (AFCS), ultra high frequency television sets, high frequency radios, frequency multipliers, band pass filters, and harmonic generators, owing to special property of varying capacitance with varying voltage. These diodes are mainly used in radiofrequency circuits, which are used in most of the electronic devices to provide a capacitance that can be varied by changing voltage in an electronics circuit. Growing demand for consumer electronics such as tablets, smartphones, electronic devices, and DVD recorders for entertainment, commercial, and educational purpose is expected to boost growth of the global varactor diode market.
Global varactor diode market is expected to witness significant growth during the forecast period (2018–2026). The market growth for varactor diode is majorly attributed to growing demand for consumer electronic devices and use of varactor diode in radar systems to detect objects such as spacecraft, aircraft, guided missiles, and motor vehicles.
The major restraining factor for global varactor diode market is the availability of zener diode and other diode as an alternative to varactor diode as it has similar properties and cost less than varactor diode. However, the use of zener diode is avoided where strict requirement of high range tuning diode is needed.
High Expenditure on Research and Development by Defense, Aviation and Marine Industry is expected to Aid in Growth of the Global Varactor Diode Market.
Global varactor diode market is segment into breakdown voltage and application. Application segment is further divided into mobile devices, satellite communication and defense, aviation & marine among these mobile device segment contribute to more than half the market share followed by satellite communication and then defense, aviation & marine.
Governments of several countries are excessively spending on research and development to upgrade their weapons and equipment owing to security related issues. For enhanced security cases, radars are used on large number, which in turn will aid the global varactor diode market to grow. Radar contains varactor diode, which are used to provide signal tracking filters by working with voltage control oscillators.
As per Coherent Market Insights, global varactor diode market is expected to increase at a rapid pace over the forecast period. Increasing investment to develop 5G technology by various countries will boost the growth of the mobile and tablet industry, which in turn increases demand for varactor diode. This is another key factor expected to aid in growth of the global varactor diode market.
Increasing Demand for Varactor Diode among Mobile Devices Segment in Emerging Economies of Asia Pacific
Asia Pacific held dominant position in the global varactor diode market in 2017, and is projected to retain its dominance throughout the forecast period. This is owing to huge customer base using smartphones and tablets and rapid development of 5G technology in this region. North America is expected to be the fastest growing market throughout the forecast period, owing to excessive spending by the U.S. government on research and development in defense and military industry.
In Asia Pacific, mobile devices segment is growing at a higher rate due to the presence of large customer base using smartphone and tablets, owing to high population in countries such as India and China. The demand for mobile devices is expected to increase due to high disposable income and growing development of 5G technology in this region.
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., and others.