The acoustic wave filter market revenue will total US$ 8.9 billion by 2021, as per a Future Market Insights (FMI) analysis. Registering growth at 10.6% CAGR between 2021 and 2031, the market’s valuation is expected to surpass US$ 24.5 billion by 2031.
Lithium tantalate will remain highly sought-after among material used. The study forecasts, the demand for acoustic wave filters made from lithium tantalate to rise at 13.4% CAGR
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COVID-19 Impact Analysis on Acoustic Wave Filter Market
The COVID-19 pandemic has had a significant impact on the market. Restricted connectivity during the lockdown, disruption in supply-chains, and limited exchange and transfer of essential goods and services have affected short term prospects.
The COVID-19 pandemic has impacted the sales of semiconductors. Companies have moved decisively to secure supply chains, and protect employees. According to estimates, in Q1-Q2 2020, a decline of approximately 80% in worldwide semiconductor revenues was witnessed. Many companies are vulnerable to risk and revenues are likely to fall by approximately 10% with share prices falling by approximately 25% due to publicly disclosed supply chain disruption.
Key Takeaways: Acoustic Wave Filter Market
- Surface acoustic wave (SAW) filters are dominating the global acoustic wave filters market and are estimated to register a market share of 50.5% by the end of 2021.
- Lithium tantalate filters are estimated to grow at the fastest CAGR of 13.4% during the forecast period owing to a rise in adoption of BAW filters for wireless systems.
- China is the largest and fastest growing market, accounting for more than 54% of the East Asia value share, owing to high investments by governments in the expansion of various sectors.
- The U.S. will hold 86% of the North America market, driven by faster access to tech advancements in the country, and the presence of key players.
- Indonesia and India are emerging as lucrative markets owing to investments for the development of public transport infrastructure.
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Competitive Landscape
According to FMI’s analysis, Qualcomm, Murata, Qorvo, Skyworks, Taiyo Yuden, and Broadcom are identified as key players in the acoustic wave filters landscape. Companies manufacturing acoustic wave filters are aiming at product innovation and strategic partnerships with other manufacturers to expand their product manufacturing capabilities to address the demand of an expanding customer pool.
- For instance, in June 2021, Resonant announced Upgraded WaveX Design Software for Acoustic Wave Filter Development, Specifically Enhanced for 5G, Wi-Fi, and Ultra-wideband RF Filters. WaveX is the upgraded version of Resonant’s legacy Infinite Synthesized Networks (ISN) design software. The new platform delivers full 3D finite element modeling simulation capability to design RF filters, and leverages a hybrid multi-cloud, large-memory GPU-powered implementation.
- In February 2021, Qualcomm and TDK announced the launch of a joint venture. The joint venture will enable Qualcomm’s RFFE business unit to deliver RF front-end (RFFE) modules and RF filters into fully integrated systems for mobile devices and fast-growing business segments, such as Internet of Things (IoT), automotive applications, and connected computing.
Manufacturers are also focusing on mergers and acquisitions to maintain their global presence.
- In March 2021, Resonant acquired GVR Trade SA (GVR). With this acquisition, Resonant expanded its Enhanced ISN capabilities.
- 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.
- Abracon
- Broadcom
Acoustic Wave Filters Market by Category
By Type:
- SAW Filter
- RF SAW Filters
- IF SAW Filters
- BAW Filter
- Solidly Mounted Resonator BAW Filters
- Film Bulk Acoustic Resonators
By Material:
- Quartz
- Lithium Niobate
- Lithium Tantalate
- Langasite
- Others
By Application:
- Consumer Electronics
- Telecommunications
- Automotive
- Aerospace & Defense
- Healthcare
- Industrial
- Others
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Key Questions Answered in the Report
- Which region will reflect higher demand for acoustic wave filters?
- What is the acoustic wave filters market demand outlook?
- Which are some of the leading companies offering acoustic wave filters?
- In which application areas are acoustic wave filters highly integrated?
- What is the global acoustic wave filters market size?
- What was the last 5-year acoustic wave filters market CAGR?
- What are the key trends impacting the growth of acoustic wave filter sales?
- What factors are driving the demand for acoustic wave filters?
- What are the top 5 countries driving acoustic wave filters demand?
- What is the North America acoustic wave filters market Outlook?
- What are key market statistics in South Korea and Japan acoustic wave filters market?