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The Global RF Filters Market Anticipated to Generate a Revenue of $29,883.5 Million, Growing at a CAGR of 16.1% from 2021 to 2028

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The global RF Filters market is estimated to be valued at $ 29,883.5 million by 2028, surging from $9,157.9 million in 2020, at a noteworthy CAGR of 16.1%.

Impact Analysis of COVID-19 on the RF Filters Market

COVID-19 outbreak led to the complete lockdown across the globe which has led to the reduced purchasing powers. COVID-19 majorly affected the electronics sector as manufacturing facilities had stopped working and they were unable to cater to the increased demand for electronics and semiconductor products in various industries. The major impact was on the large-scale manufacturing plants present across the globe and also the exports of the parts form Chinese manufacturers, which hampered the market growth on a larger scale.

The experts have predicted that global RF Filters market will grow at a higher-level post COVID-19 situation. This is majorly due to the rapid growth in the demand for uninterrupted communication in various industries.

Global RF Filters Market Analysis

One of the key factors affecting the RF filters market growth is the rise in demand for RF filters in various industries such as aerospace & defense along with growing demand for the communication sector. RF filters are widely used in aerospace and defense sector in order to send and receive the RF signals for specific tasks such as detecting enemy radar systems or jamming their transmitted frequencies. Additionally, the rising demand from the semiconductors industries is the key factor driving the growth of the RF filter market as it is one of the key components for the communication system. The RF filters are widely being used in communication industry as it helps in amplifying the frequencies.

However, the high initial investments and technical issues related to the power consumptions are the key factors that are anticipated to hamper the market growth in the near future.

The development of 5G network across the globe is anticipated to create better growth opportunities in the near future. Additionally, the growing direct investments in the telecom sector in the developing nations such as India are projected to create more opportunities over the forecast period.

Global RF Filters Market, Segmentation

The global RF Filters market is segmented based on type, application, and region.

Type:

The type segment is further classified into SAW filter and BAW filter. The SAW filter sub-segment is expected to have the largest market share, with revenues exceeding $16,171.9 million by 2028, up from $5,051.3 million in 2020. The SAW filter sub-segment is anticipated to drive the market growth, this is majorly due to the various advantages provided by the SAW filter such as it offers ultra-small size (~9 mm2). The ultra-small size designing of critical components such as filters/duplexers of different bands can be integrated on single chip with little or no additional fabrication steps and filter structure supports flexible port configurations. These factors are anticipated to boost the market growth in the near future.

Application:

The application segment is further classified into navigation, radio broadcast, TV broadcast, mobile phone communication, satellite communication, aerospace & defense, and others. The mobile phone communication sub-segment dominated the market in 2020 accounting for $2,364.6 million and is projected to continue its dominance over the forecast period. The wireless communications across the globe has increased, RF bandwidths which are used to transmit the data have become more crowded. This has necessitated the demand for more RF filters that could help in filtering the unwanted radio signals which in turn is anticipated to drive the market growth.

Region:

The RF filters market for the North America region is projected to have the largest market share. The market in North America generated a revenue of $3,335.3 million in 2020 and is projected to reach up to $10,608.6 million by 2028. However, Asia-pacific region market is anticipated to grow at the highest CAGR of 16.7% over the forecast period. This growth is majorly attributed towards the rising adoption of latest technologies as well as the adoption of smart devices in this region. Additionally, the growing number of electronic and semiconductors players setting up manufacturing plants in the developing nations such as India is anticipated to drive the market. Moreover, the presence of the key market players in countries such as China, Japan, and South Korea is anticipated to boost the market growth.

Key Players in the Global RF Filters Market

Some of the leading global RF Filters market players are

  1. NXP Semiconductors N.V.
  2. Analog Devices, Inc.
  3. STMicroelectronics
  4. Murata Manufacturing Co., Ltd.
  5. Broadcom Inc.
  6. Anatech Electronics, Inc.
  7. K&L Microwave
  8. RS Microwave Company, Inc.
  9. API Technologies
  10. Bird Technologies.

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

Porter’s Five Forces Analysis for the Global RF Filters Market:

  • Bargaining Power of Suppliers: There are few RF filters players. However, there is a growing demand for seamless connectivity and the better network range is driving the market.
    Thus, the bargaining power suppliers is high.
  • Bargaining Power of Buyers: Buyers have little bargaining power as the establishing cost of RF filters is high. 
    Thus, the bargaining power of the buyers is low.
  • Threat of New Entrants: The companies entering RF filters market have to deal with high investment cost along with adhering to the environmental regulations.
    Thus, the threat of the new entrants is low.
  • Threat of Substitutes: The availability of substitutes of RF filters is very less in the market.
    Thus, the threat of substitutes is low.
  • Competitive Rivalry in the Market: The competitive rivalry among industry leaders is extensive since the players operating in RF filters industry are focusing on enhancing the efficiency of the business expansion and product innovations.
    Therefore, competitive rivalry in the market is high. 
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