Global RF Filters Market to Gather $29,883.5 Million by 2028, Growing at CAGR of 16.1% in the 2021-2028 Timeframe [235-Pages] | Says Research Dive
RF filters market is expected to grow by 2028 due to increasing adoption of 5G services across the globe. The SAW filter sub-segment is expected to be the most dominant. Market in the Asia-Pacific region to be the fastest growing.
NEW YORK, July 18, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "RF Filters Market by Type (SAW Filter and BAW Filter), Application (Navigation, Radio Broadcast, TV Broadcast, Mobile Phone Communication, Satellite Communication, Aerospace & Defense, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028".
As per the report, the global RF filters market is predicted to grow at a noteworthy CAGR of 16.1% and surpass a revenue of $29,883.5 million by in the 2021-2028 timeframe.
Dynamics of the RF Filters Market
Drivers: The increasing expansion of 5G services all around the world is expected to be the primary growth driver of the RF filters market. Also, as various services and service provider industries shift their businesses online, there is an increase in the demand for seamless internet connectivity, which is expected to further boost the market during the forecast period.
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Opportunities: Electric vehicles (EVs) have been in great demand, especially since the last decade. The EV market is sure to grow in the upcoming years, which is expected to offer huge growth opportunities to the RF filters market in the forecast period. Moreover, there has been an increase in the awareness among people to opt for devices that provide better safety features. This is expected to enhance the growth opportunities in the 2021-2028 timeframe.
Restraints: However, the high cost associated with the initial setting up of RF filters is expected to hamper the growth of the market.
Impact of Covid-19 on the RF Filters Market
The Covid-19 pandemic, since its outbreak, has been catastrophic for several industries and businesses across the globe. The subsequent lockdowns ordered by various governments have made the situation worse by hampering the global supply chains. The RF filters market has faced a similar condition. The breakdown of supply chains has affected the market as there has been no supply of semiconductors and electronic components due to closure of their manufacturing industries during the lockdown. The global shortage of semiconductor chips is another reason for the downturn in the market growth.
However, market analysts expect a good growth in the RF filters market once these lockdown restrictions are lifted and the supply of raw materials is normalized.
Segments of the Market
The report has fragmented the RF filters market into different segments based on type, application, and region.
- By type, the SAW filter sub-segment is predicted to have the highest market share by garnering a revenue of $16,171.9 million by 2028. SAW filters are majorly used in cellular devices as they have a unique capability to work under 3GHz frequency. This feature of SAW filters has made the SAW filter sub-segment the most dominating one.
- By application, the mobile phone communication sub-segment of the RF filters market is expected to register a revenue of $7,982.5 million by 2028, thereby becoming the most profitable sub-segment. The increasing adoption of smartphones which support high-speed internet connectivity by using LTE and Wi-Fi technologies is expected to be the main growth driver of this sub-segment.
- By regional analysis, the market in Asia-Pacific region is expected to grow at the fastest rate and gather $8,543.7 million by 2028. The presence of key semiconductor manufacturing industries in this region is anticipated to be the leading factor behind the growth of this sub-segment.
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Significant RF Filters Market Players
The significant market players of the RF filters market are
1. Broadcom Inc.
2. K&L Microwave
3. NXP Semiconductors N.V.
4. Murata Manufacturing Co. Ltd.
5. Analog Devices Inc.
6. Anatech Electronics Inc.
7. STMicroelectronics
8. RS Microwave Company
9. Bird Technologies
10. API Technologies, among others.
These key market players are developing different business strategies like product development, merger and acquisitions, partnerships and collaborations to gain a commanding position in the market. – Buy Full Report at $2999 (Read-Only)
For instance, in November 2021, the world's largest smartphone-chipset manufacturer, Qualcomm, launched a new set of RF filters called UltraBAW. The launch of this new product will help the chip-manufacturing giant to expand its footprint in the market substantially. UltraBAW is designed to capture mid-range and high-range frequencies.
The ResearchDive report also summarizes many crucial aspects of the RF filters market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about RF Filters Market:
- Collaborations Like That of Resonant Inc. and Murata Manufacturing Co., Ltd. To Propel the Growth of the Global RF Filters Market
- What are Radio Frequency Filters (RF Filters) and Why are They Important in the 5G World?
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