New York, US, July 01, 2021 (GLOBE NEWSWIRE) --
Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Electronic Filters Market information by Type, Application and Region – forecast to 2027” the market was valued at USD 12.7 billion in 2018; it is expected to reach USD 18.9 billion by 2025 at a CAGR of 15.0%.
Electronic Filters Market Scope:
Improvements in filtering technologies and rapid industrialization in various economies substantiate the market growth. Industry players strategically focus on broadening their product offering, expanding their footprints in various countries/regions.
Electronic filters also help protect wireless connectivity used in sectors such as traffic, health, weather & environmental monitoring. Hospitals are increasingly relying on electronic filters to eliminate disruptions in hospital networks, which help minimize the risk in remote surgery via robotic medical equipment.
As 5G continues to develop and garner further market prominence, electronic filters would be utilized in everyday life beyond texting, calling or streaming videos on a smartphone. Soon electronic filters would find their applications in autonomous and electric vehicles, helping these automobiles detect closeness to an object, out of traffic lanes, or need to stop, where speed is critical.
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Dominant Key Players on Electronic Filters market covered are:
- Anritsu (Japan)
- ST Microelectronics (Switzerland)
- Mini-Circuits (US)
- ABB AG (Switzerland)
- Schneider Electric (France)
- ARTECH Group (Spain)
- Block TransformatorenElektronik (Germany)
- AVX Corporation (US)
- Captor Corporation (US)
- Circutor (Spain)
- CD Automation UK (UK)
- Cosel Europe (Germany)
- Analog Devices Inc. (US)
- DEM SpA (Italy)
Market USP exclusively encompassed:
Market Drivers
The global electronic filters market is growing rapidly, witnessing vast demand. The market is majorly driven by the continually rising demand for highly reliable filter products to safeguard telecommunications & military electronics, test & measuring instruments & medical equipment, and industrial control applications from the destruction EMI can generate.
Besides, improvements in the global economic scenario and technological advances in many emerging countries, such as India, China, South Africa, Brazil, and Argentina, fuel the market growth, encouraging industry leaders to expand their footprints in these untapped geographies and increase the market share. Resultantly, the electronic filters market witnesses rapid traction worldwide.
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Segmentation of Market covered in the research:
The electronic filters market forecast is segmented into types, applications, and regions. The type segment is sub-segmented into low pass filter, high pass filter, bandpass filter, band reject filter and all-pass filter. The application segment is sub-segmented into power supplies, audio electronics, radio communication, and analog to digital conversion. The region segment is sub-segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Regional Analysis
The Asia Pacific is assessed to retain its dominance over the global electronic filters market. The largest market share attributes to the rising adoption of LTE and VoLTE networks and a large number of electronic component manufacturers in this region. Additionally, the heightened adoption of electronic filters to safeguard telecommunications equipment, military electronics, and industrial control applications allows excellent market growth. China, Japan, and South Korea are major markets for electronic filters in the region.
North America stands second in the global electronic filters market. The market growth is driven by the strong presence of major industry players, such as AVX Corporation, Mini-Circuits, and Captor Corporation contributes to the regional market growth. Moreover, rapid advancement in network infrastructures to deploy 5G network services in the region influences market growth. The US and Canada dominate the electronic filters market share in the region, whereas Mexico is growing at a stable rate.
Europe has emerged as a profitable market for electronic filters globally. Factors such as major innovations in home and commercial appliances and rising uses of these filters are pushing the market growth. Furthermore, the presence of major players and well-developed consumer electronics industries impact the region's electronic filters market share positively. Rising economy in the region impacts the penetration of electronic filters further, increasing consumer purchasing power.
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Industry Trends
The global electronic filters market outlook appears extremely positive. Developments in distribution channels foster market growth, bringing about advanced filtering technologies. Businesses are taking innovative steps to reopen and get back to life safer, smarter, and stronger than before. In such a scenario, providing a safe environment for staff and customers has become more important.
Manufacturers are increasingly getting their devices tested for disruptive capabilities and design cutting-edge filters & modules while capitalizing on the added and diverse supply chain stability. These filters help smartphone manufacturers enhance the connectivity of current mobile devices while preparing for emerging 5G applications.
Industry players are transforming the RF front-ends (RFFE) market by disrupting the RFFE supply chain by delivering solutions. They leverage Infinite Synthesized Network (ISN) design platform and capitalize on the breadth of their IP portfolio to expand their services offerings.
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COVID-19 Impact on the Global Electronic Filters Market
The onset of COVID-19 had a positive impact on the electronic filter market share. With increasing IT & telecom sectors and the digital transformation of economies, the already-competitive telecom and manufacturing sectors geared up phenomenally. The Coronavirus pandemic also fostered digitization and automation across the manufacturing sectors globally, disrupting supply chains and workforce management.
Many organizations digitized their business processes, including supply chain & product management, sales & marketing, and others. This proliferation of automation further increased the need for 5G networks with high reliability, cloud-based apps, and connected devices. Resultantly, the global electronic filters market is witnessing increasing revenues. Major vendors are making substantial investments in R&D and production and are adopting automated production processes.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.