DUBAI, UAE., July 7, 2021
- Future Market Insights predicts impressive growth on card for acoustic wave filters market. It offers an executive-level blueprint of the market, covering key segments in terms of type, material, and application. Leading players in the market are profiled in the report, which also presents insights into key strategies adopted by the companies
DUBAI, UAE., July 7, 2021 /PRNewswire/ -- 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.
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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,
Some of the leading companies operating in the acoustic wave filters market profiled by FMI are:
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More Insights on FMI's Acoustic Wave Filters Market
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
Key Questions Covered in the Acoustic Wave Filters Market Report
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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