REPORT OVERVIEW
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The global bulk acoustic wave filter market size was USD 4654 million in 2022. As per our research, the market is expected to reach USD 5910.3 million in 2029, exhibiting a CAGR of 3.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with bulk acoustic wave filter market experiencing Higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
One sort of electronic band pass radio frequency filter is a bulk acoustic wave (BAW) filter. BAW filters are commonly used in electronics to convert electrical energy to acoustic energy. BAW RF filters are commonly employed in applications requiring frequencies up to 6 GHz. Acoustic waves are low-frequency waves that perform effectively in systems with higher frequencies. They serve as the foundation for SAW resonators, delay lines, oscillators, and filters. Acoustic filters are filter technologies that fulfil the performance requirements specified by cellular phone standards as well as their form factor. Acoustic wave filters are classified into two types: surface acoustic wave filters (SAW) and bulk acoustic wave filters (BAW). Surface acoustic wave (SAW) filters are almost solely utilised in the frequency range up to 1 GHz, whereas bulk acoustic wave (BAW) filters are used at higher frequencies.
COVID-19 Impact: Manufacturing industry upheaval has an impact on market growth.
The COVID-19 epidemic has had a substantial impact on the operations of several businesses and economies throughout the world. This epidemic has proven to be worse than critical economic, geopolitical, and political conflicts occurring throughout the planet. As a result of the COVID-19 epidemic, several industrial units have temporarily suspended and ceased import-export activity, disrupting overall supply chains and affecting demand and supply balance. The Bulk Acoustic Wave Filter market is no exception to the other businesses that will be impacted by COVID-19 in the first half of 2020. During this period, market revenue declined due to a drop in demand from several industrial verticals, which impacted semiconductor output.
LATEST TRENDS
"Technological Advancements to stimulate market expansion"
BAW filters provide advantages such as compact size, cheap cost, reduced susceptibility to temperature, and low insertion loss, which are driving market growth. Furthermore, increased applications of thin film bulk acoustic resonators in electronics instruments such as oscillators, synchronizers, sensor applications, power amplifiers, and electronics miniaturisation are likely to boost market expansion during the projection period The market is expanding due to rising acceptance of high-end 5G and 4G smartphones, increased use of BAW filters in 5G applications and other 5G goods, rising usage of VoLTE and LTE networks, and rising technical developments in wireless communications standards. Thus, the process of developing new technologies is a major trend that is creating opportunity for the industry to flourish. The market's overall expansion is primarily the result of these recent changes.
SEGMENTATION
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- By Type
The market is divided into categories based on type, Lead Wire, Without Lead Wire and others.
- By Application
The market is divided into Wired Communications, Mobile Devices, Automotive and other categories based on application.
DRIVING FACTORS
"Adoption Of Thin-Film Bulk Acoustic Wave Filter that Boosts the Market"
The most popular and extensively used BAW filter device is a thin-film bulk acoustic resonator, which retains mechanical energy on a piezoelectric material generated by thin film layers placed between two electrodes. The market's expansion may be ascribed to the increasing use of thin film bulk acoustic resonators in applications such as mobile phones and other wireless system-based applications such as wireless positioning modules and systems such as GPS and satellite navigation. Furthermore, the increasing use of thin film bulk acoustic technology-based filters or duplexers in many advanced and new Smartphones, including those manufactured, as well as in various 4G and 5G products to reduce the complexity of the RF front end antenna and electronics system, is propelling market growth. As a result, the market will benefit from growth and adoption of thin-film bulk acoustic wave in the product. It will help the semiconductor and electronics sector flourish and accelerate the Bulk Acoustic Wave Filter market growth.
"Growing Adoption of the product is expanding to support market expansion"
Research and development operations in the field of BAW devices have been done with great promise in recent years, and presently BAW filters are fast becoming popular in the marketplace spanning from high-end industrial and military markets to consumer wireless application markets. Rising adoption of BAW filters in consumer electronics devices such as mobile phones, tablets, and others, as well as rising adoption of these devices, rising adoption of BAW technology in LTE, 4G, 5G, and Wi-Fi technology, and increasing requirements for small and high-performance microwave devices for the growing wireless communication system market, are expected to boost market growth during the forecast period. Together, these elements are encouraging market expansion, which is raising business revenues. As a result, the market will grow thanks to the growing adoption of the product.
RESTRAINING FACTORS
"Availability of low-cost products will Prevent Market Expansion"
The availability of low-cost SAW filters, the requirement for additional processing stages, and the complexity of the fabrication procedure are the key impediments to market expansion. This will be a significant impediment to market growth during the forecast period. This could be a significant issue limiting market growth. If this issue is resolved, the market will immediately begin to grow.
REGIONAL INSIGHTS
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"Market is Globally Dominated by North America owing to expanding industrial development"
Since this area is the largest user of the product, the market for Bulk Acoustic Wave Filter in North America has profited from the region's expanding industrial development and several driving factors that have boosted the potential sectors. The increasing demand for products in the Wired Communications, Mobile Devices, Automotive and other industries is one of the important factors driving the Bulk Acoustic Wave Filter Market Share. Rapid urbanisation trends will further strengthen the market as a whole.
KEY INDUSTRY PLAYERS
"Leading Manufacturers to Boost Product Demand"
The analysis covers data on market participants and their positions within the industry. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being gathered and made available. Information on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more is provided in the study on materials.
List of Market Players Profiled
- Avago Technologies (U.S.)
- Qorvo (U.S.)
- TDK (Japan)
- Akoustis Technologies (U.S.)
- Broadcom (U.S.)
REPORT COVERAGE
The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost the Bulk Acoustic Wave Filter Market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 4654 Million in 2022 |
Market Size Value By |
US$ 5910.3 Million by 2029 |
Growth Rate |
CAGR of 3.4% from 2022 to 2029 |
Forecast Period |
2022-2029 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the bulk acoustic wave filter market expected to touch by 2029?
Based on our research, the bulk acoustic wave filter is projected to touch USD 5910.3 million by 2029.
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What CAGR is the bulk acoustic wave filter market expected to exhibit by 2029?
The bulk acoustic wave filter is expected to exhibit a CAGR of 3.4% by 2029.
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Which are the driving factors of the bulk acoustic wave filter market?
Increasing adoption of thin-film bulk acoustic wave filter that gives the market extra boost & increasing adoption of the product to encourage market expansion.
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Which are the top companies operating in the bulk acoustic wave filter market?
Avago Technologies, Qorvo, TDK, Akoustis Technologies, Broadcom are the top companies operating in the bulk acoustic wave filter market.
