Acoustic Wave Filters Market Outlook 2021 Pricing Strategy, Industry Latest News, Top Company Analysis, Research Report Analysis and Share by Forecast 2031
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.
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.
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:
More Insights on FMI’s Acoustic Wave FiltersMarket
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
RF SAW Filters
IF SAW Filters
Solidly Mounted Resonator BAW Filters
Film Bulk Acoustic Resonators
Aerospace & Defense
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