- Future Market Insights predicts impressive growth on card for acoustic wave filters market. It offers an executive-level blueprint of the market, covering key segments in terms of type, material, and application. Leading players in the market are profiled in the report, which also presents insights into key strategies adopted by the companies
DUBAI, UAE., July 7, 2021 /PRNewswire/ -- As per a study by FMI, the global acoustic wave filter market is expected to witness a growth at a CAGR of 10.6% during the forecast period 2021-2031. The market for acoustic wave filters is estimated to rise from US$ 8.9 billion to a valuation of US$ 24.5 billion by the end of 2031.
One of the prime factors driving growth is the increasing usage of smartphones and various electronic devices. Owing to the increasing smartphone penetration, the adoption of radio frequency (RF) filters namely, bulk acoustic wave (BAW) filter, has increased for protecting sensitive receiver paths in smartphones. This is in turn boosting the sales of acoustic wave filters.
The outbreak of novel coronavirus has severely impacted the market for acoustic wave filters. The pandemic has restricted connectivity and disrupted the supply chains amidst lockdown. As per a study by FMI, around 10% to 15% sales of the acoustic wave filters have dropped during Q1 and Q2 in 2020. Nonetheless, ease of lockdown and reopening of the industries is expected to drive the market.
Lithium tantalite and lithium liobate are expected to lead the material segment, accounting for a valuation of US$ 6,127 million, according to FMI. Lithium niobate is likely to hold a market share of around 43.4% through 2021, making it a center point for the expansion of the market.
"Leading manufacturers in the market are aiming at product innovation to address the increasing demand for acoustic wave filter owing to progressive development and commercialization of 5G technologies," says the FMI analyst.
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- Owing to increasing adoption of RF filter technologies by aviation customers, the U.S. is expected to hold a market share of over 89% in North America.
- In Indonesia, the demand for acoustic wave filters is likely to rise at a CAGR of 15.3% over the forecast period.
- China is estimated to emerge as a highly lucrative market, accounting for a value share of over 54% in the East Asia market.
- By 2031, India is projected to hold a market share of nearly 54% in South Asia and Pacific, owing to rise in investments in the public transport infrastructure.
- The telecommunications sector is dominating the segment and is estimated to register a maximum revenue share of over 33.5% by the end of 2021.
- Increasing adoption of bulk acoustic wave (BAW) filters for wireless systems with boost the market growth.
- Rising smartphone penetration will fuel the demand for acoustic wave filters.
- Increasing usage of RF filter technology in RADAR systems, surveillance, electronic, navigation, and others will bolster the growth of the market.
- Volatility in the cost of raw material is a factor hampering the market growth for acoustic wave filters.
- The COVID-19 pandemic has negatively impacted the growth of the market.
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Companies operating in the acoustic wave filters market are focusing on product innovation to expand their portfolio. Besides this, some key players are acquiring and establishing strategic partnerships with other market players to expand their manufacturing capabilities. For instance,
- TDK and Qualcomm announced launch of a joint venture in February 2021. The joint venture will enable Qualcomm's RFFE business unit to deliver fully integrated systems such as RF front-end (RFFE) modules for mobile devices and fast-growing business segments.
- In March 2021, Resonant, the U.S. based company, announced an acquisition of GVR Trade SA (GVR). The acquisition will assist Resonant to expand its Enhanced ISN capabilities.
Some of the leading companies operating in the acoustic wave filters market profiled by FMI are:
- KYOCERA Corporation
- Murata Manufacturing Co., Ltd
- Microchip Technologies
- Skyworks Solutions, Inc.
- Qualcomm Technologies, Inc.
- Qorvo, Inc.
- Tai-Saw Technology Co., Ltd.
- Microsaw OY
- API Technologies Corp
- Crystek Corporation
- Anatech Electronics, Inc.
- Taiyo Yuden Co., Ltd.
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More Insights on FMI's Acoustic Wave Filters Market
The latest market study on global acoustic wave filters market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of
- SAW Filter
- RF SAW Filters
- IF SAW Filters
- BAW Filter
- Solidly Mounted Resonator BAW Filters
- Film Bulk Acoustic Resonators
- Lithium Niobate
- Lithium Tantalate
- Consumer Electronics
- Aerospace & Defense
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Key Questions Covered in the Acoustic Wave Filters Market Report
- The report offers insight into acoustic wave filters demand outlook for 2021-2031
- The market study also highlights projected sales growth for acoustic wave filters market between 2021 and 2031
- Acoustic wave filters market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Acoustic wave filters market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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