Portland, OR, April 11, 2023 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “RF Filter Market by Voltage (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, 2022-2031”. According to the report, the global RF filter market generated $10.5 billion in 2021, and is anticipated to generate $48.1 billion by 2031, witnessing a CAGR of 16.6% from 2022 to 2031.
Prime Determinants of Growth
Increase in demand for smartphones and wireless devices, growing investments in high-quality RF filters by mobile device manufacturers, and the increasing application of RF filters in various industries including automotive, aerospace & defense, and others are the factors expected to drive the growth of the global RF filter market in the forecast period from 2022 to 2031. However, the high cost and limited frequency range associated with RF filters may hamper the RF filter market growth in the coming future. On the contrary, the growing adoption of IoT devices and the adoption of advanced technologies are expected to offer remunerative opportunities for expansion of the RF filter market during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $10.5 billion |
| Market Size in 2031 | $48.1 billion |
| CAGR | 16.6% |
| No. of Pages in Report | 280 |
| Segments covered | Voltage, Application, and Region. |
| Drivers | Increase in demand for mobile devices across the globe. Growing popularity of smartphones and other wireless devices. Rise in application of RF filters in aerospace and defense, automotive, and other industries. Increase in investment by mobile device manufacturers in high-quality RF filters. |
| Opportunities | The growing adoption of IoT devices Advancements in 5G technology |
| Restraints | Inflated cost and limited frequency range of RF filters |
Covid-19 Scenario
The outbreak of the COVID-19 pandemic has had a moderate impact on the growth of the global RF filter market.
Decrease in consumer spending, particularly in the industries that are major end-users of RF filters such as aerospace and automotive industries, factory closures, and supply chain disruptions affected the market growth in the initial period of the pandemic.
However, the increasing demand for RF filters during the COVID-19 catastrophe due to the rise in remote work and the growing need for reliable wireless communication devices and connectivity have significantly impacted the global RF filter market growth.
SAW Filter Sub-segment to Generate the Highest Revenue by 2031
Based on voltage, the SAW filter sub-segment held the highest market share in 2021 and is estimated to maintain its leadership status during the forecast period, mainly because surface acoustic wave (SAW) filters are widely used in RF Filter for various applications, such as radar systems, satellite communication, wireless communication, and others. Besides, the growing demand for IoT devices across several industries, such as automotive, healthcare, and others is predicted to boost the sub-segment’s growth by 2031. On the other hand, the BAW filter segment of the RF filter market is projected to manifest the highest CAGR of 16.8% from 2022 to 2031, due to the rising demand for wireless devices across the globe.
Mobile Phone Communication Sub-segment to Maintain its Leading Position by 2031
Based on application, the mobile phone communication segment accounted for the largest market share in 2021 as RF filters are used in mobile phones to operate effectively. This segment of the global RF filter market is predicted to grow at a CAGR of 17.0% during the forecast period owing to the increasing number of mobile phone users along with the rising demand for mobile devices with higher data speed and better connectivity. In addition, RF filter manufacturers are heavily investing in R&D to produce new and improved filters with reduced size & cost that support latest mobile communication standards. This is also expected to drive the sub-segment’s growth by 2031.
North America Region to Maintain its Dominance in Terms of Revenue by 2031
Based on region, North America held the highest market share in terms of revenue in 2021, owing to the rising adoption of new technologies, tablets, smartphones, and other wireless communication devices as RF filters are used in these devices to improve signal quality & reduce interference. On the other hand, the Asia-Pacific region is expected to witness the fastest growth at a CAGR of 17.1% from 2022 to 2031, owing to the increasing demand for smart devices from the rising population, and the presence of leading electronics and semiconductor manufacturers, particularly in countries like Japan, China, and South Korea.
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Leading Players of the RF Filter Market:
- NXP Semiconductors N.V.
- STMicroelectronics
- Analog Devices, Inc.
- Murata Manufacturing Co. Ltd.
- Anatech Electronics, Inc.
- Broadcom Inc.
- K&L Microwave
- API Technologies
- RS Microwave Company, Inc.
- Bird Technologies
The report provides a detailed analysis of the key players of the global RF filter market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the RF filter market analysis from 2021 to 2031 to identify the prevailing RF filter market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the RF filter market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global RF filter market trends, key players, market segments, application areas, and market growth strategies.
RF Filter Market Key Segments:
Application
- Navigation
- Radio Broadcast
- TV Broadcast
- Mobile Phone Communication
- Satellite Communication
- Aerospace and Defence
- Others
Voltage
- SAW Filter
- BAW Filter
By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, UK, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arabia, UAE, South Africa, Rest of LAMEA)
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