The global acoustic wave filters market is anticipated to have a valuation of approximately USD 10.6 billion in 2023. Projections indicate a substantial growth trajectory, with expectations that the market will surge to reach USD 29.7 billion by the year 2033. This forecast suggests a remarkable Compound Annual Growth Rate (CAGR) of 10.8% from 2023 to 2033.
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.
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The telecommunications industry is witnessing a substantial expansion of infrastructure, both in advanced and emerging nations, attracting numerous semiconductor producers. A noteworthy trend in the telecom sector is the increasing adoption of next-generation LTE connections.
In addition, the pervasive use of wireless communications has experienced significant acceleration in recent years, driven by a growing demand for power-efficient and reliable semiconductor products. This trend presents promising opportunities for the SAW filters market.
With the rising popularity of cellular phones and wireless connectivity, semiconductor companies are focusing on developing cost-effective, secure, and high-performance SAW filters. These innovations are expected to contribute significantly to the overall market growth.
Key Takeaways
- 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.
Key Drivers:
- 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.
Key Restraints:
- 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.
Leading Key Players:
- 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
- Akoustis
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Acoustic Wave Filters Market by Category:
By Type:
- SAW Filters
- RF SAW Filters
- IF SAW Filters
- BAW Filters
- 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
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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