New York, US, June 10, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “RF Filters Market Analysis by Filters-type (SAW, BAW), Connectivity Technology, Functional Type (Cellular Devices, GPS devices, Radio Broadcast, TV Broadcast, Others) and by Application(Industrial, Automotive, Transportation and Logistics, Smart Home/City, Aerospace and Defence, Others)— Forecast till 2027” valuation is poised to reach USD 32,385.4 Million by 2027, registering a 16.2% CAGR throughout the forecast period (2020–2027).
RF Filters Market Overview
Radio frequency filters are used in different key sectors such as consumer electronics, wireless communications, seismology, and sonar that will offer robust opportunities for the market over the forecast period.
RF Filters Market Report Scope:
| Report Metric | Details |
| Market Size | USD 32,385.4 Million (2027) |
| CAGR | 16.2% (2020-2027) |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Filters-Type, Connectivity Technology, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | YAGEO Group (Taiwan), RTx Technology Co., Ltd(Korea), Bird (US), Crystek Corporation (US), Akoustis (US), TDK Corporation (Japan), Avnet, Inc. (US), TAI-SAW TECHNOLOGY CO., LTD. (Taiwan), Abracon (US), Skyworks Solutions, Inc. (US), Murata Manufacturing Co., Ltd. (Murata Manufacturing) (Japan), and Qorvo, Inc (US) |
| Key Market Opportunities | Applications in Different Key Sectors to offer Robust Opportunities |
| Key Market Drivers | Surge in Mobile Computing Devices to Boost RF Filters Market Growth |
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Drivers
Surge in Mobile Computing Devices to Boost Market Growth
The surge in mobile computing devices among business travellers and mobile users that need connectivity and portability will boost market growth over the forecast period. Consumers are utilizing such devices for different purposes like checking mails, reading news, surfing the web, and to access social networking apps.
Higher Cost to act as Market Restraint
The high price of software for simulating the RF filter for the large scale cellular applications may remain a market restraint in the forecast period.
Limited Signal Bandwidth to act as Market Challenge
The limited signal bandwidth may act as a market challenge over the forecast period.
RF Filters Market Segments
The RF filters market is bifurcated based on functional type, connectivity technology, and filters-type.
By filters type, SAW will lead the market over the forecast period.
By connectivity technology, cellular will dominate the market over the forecast period.
By functional type, cellular devices will spearhead the market over the forecast period.
By application, the RF filters market is segmented into aerospace and defence, smart home/city, transportation and logistics, automotive, industrial, and others.
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RF Filters Market Regional Analysis
APAC to Rule RF Filters Market
Asia Pacific will have the largest market share of 38.8 percent in 2020 and has become a worldwide focal point for important business expansions and investments in recent years. The APAC market is growing due to the presence of a large number of electronic component manufacturers in Japan, South Korea, and China as well as the increasing adoption of LTE and VoLTE networks. Furthermore, countries such as India have increased FDI limits in the telecom sector in order to expand network infrastructure in collaboration with the private sector industries. The increasing number of semiconductor & electronics manufacturing plants within this region is primarily responsible for the growth. Furthermore, the growing demand for wireless communication is a major factor driving the growth of the RF filters market in the Asia Pacific region. Furthermore, the presence of some of the key players in this region is a key factor driving the growth of the Asia-Pacific RF filters market. Furthermore, the presence of key players in countries such as South Korea, China, and Japan is expected to boost market growth.
North America to Have Favorable Growth in RF Filters Market
During the forecast period, the RF filters market in North America is expected to grow significantly. The region consists of the United States, Canada, and Mexico. Because the region possesses a well-developed infrastructure, it can easily adopt technological advancements. Furthermore, the influx of the IoT & connected technologies has contributed to the growth of the North American RF Filters market. The United States is leading North America, with the largest market share. Product innovation and development are predicted to play a vital role in the regional market growth in the United States. Quick adoption of technological advances established the ICT industry, and a steady flow of investments into R&D activities is likely to drive the market over the forecast period.
Furthermore, the United States of America, one of the most developed countries in the world, is regarded as amid the biggest global technological hubs, with the presence of major tech giants. This is predicted to significantly contribute to market growth during the review period. The RF filter market is being directed by this regional market. Because of rapid progress in the network infrastructure for positioning 5G network services within the region, it is likely to have a significant market share.
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COVID-19 Analysis
COVID-19 has had an impact on various industries around the world, resulting in travel bans, global lockdown, & a slowdown in various businesses' supply chains. The global pandemic has resulted in a sharp drop in demand for the components, particularly in economies having complete lockdowns. Furthermore, the continuing trade war amid Canada and the United States has already disrupted the US technology industry, which has been exacerbated by the novel coronavirus outbreak. All chip manufacturers as well as other component providers are primarily impacted by component import and export restrictions.
The COVID-19 has possessed a significant impact on the RF filter market, as many semiconductor and electronic component manufacturing plants have been shut down due to the worldwide lockdown. Furthermore, the raw material supply chain has been severely disrupted, resulting in a global shortage of semiconductors. According to experts, the RF filters market will grow at a faster rate during the forecast period due to the growing demand for work-from-home opportunities that has increased the need for the Wi-Fi connections in different countries. Furthermore, the growing need for seamless connectivity is expected to drive market growth.
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RF Filters Market Competitive Analysis
Dominant Key Players on RF Filters Market Covered are:
- YAGEO Group (Taiwan)
- RTx Technology Co. Ltd (Korea)
- Bird (US)
- Crystek Corporation (US)
- Akoustis (US)
- TDK Corporation (Japan)
- Avnet Inc. (US)
- TAI-SAW TECHNOLOGY CO. LTD. (Taiwan)
- Abracon (US)
- Skyworks Solutions Inc. (US)
- Murata Manufacturing Co. Ltd. (Murata Manufacturing) (Japan)
- Qorvo Inc (US)
Key players have incorporated several strategies to stay at the forefront such as mergers and acquisitions, new product launches, partnerships, and more.
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