Technavio Forecasts Worldwide RF Filters Market Size to Grow by USD 15.73 Billion between 2021 and 2025

1. Market growth 2019-2024: USD 15.73 billion
2. Growth momentum & CAGR: Accelerate at a CAGR of 20%
3. YoY growth (%): 16.94%
4. Performing market contribution: APAC at 36%
5. Key consumer countries: China, US, Germany, Taiwan, and South Korea (Republic of Korea)

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Regional Market Analysis

With 36% of the growth originating from APAC, this region will record a fast growth rate during 2019-2024.

The high concentration of consumer electronics manufacturers particularly, in China, Taiwan, Japan, and South Korea is one of the most important factors influencing the RF filters market growth.

Apart from the high concentration of consumer electronics manufacturers, other key reasons for the increasing RF filters market's growth in APAC are:

• Development of the next-generation networks such as LTE and LTE- Advanced (LTE-A)
• Growth of electronic manufacturers in the region.
• Increasing investments in the construction of fabs by the vendors in this region
• The growing demand for communication devices such as smartphones and tablets in APAC is expected to fuel the demand for RF filters during the forecast period.

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Key Vendors and Vendor Strategies

Broadcom Inc., Dover Corp., KYOCERA Corp., Murata Manufacturing Co. Ltd., Qorvo Inc., Qualcomm Inc., Skyworks Solutions Inc., STMicroelectronics NV, TAIYO YUDEN Mobile Technology Co. Ltd., and TDK Corp. are a few of the key vendors in the RF filters market. The vendors in the market are constantly focusing on broadening their product portfolio through expanding their product offerings. Additionally, vendors are focusing on expanding their presence in new regions.

For instance:

• In February 2020, Broadcom Inc. launched the Wi-Fi 6E client device.
• In August 2020, Hydro Systems., a subsidiary of Dover Corp., announced the introduction of the HydroMinder WDP, a water-driven pump that is highly compatible with a wide range of chemicals utilized in car wash operations.
• In July 2020, Unified Brands, a subsidiary of Dover Corp. announced the launch of the Randell RanChef Intro chef tables, which enhance foodservice operational efficiency during the transition from kitchen to servers.

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Key Market Drivers

Our analysts have extensively outlined the information on the key market drivers and their impact on the RF filters market.

• High proliferation of mobile computing devices:

• The demand for mobile computing devices is growing among mobile users and business travelers who require portability and connectivity. Consumers are using these devices for several purposes such as accessing social networking apps, surfing the web, reading news, and checking emails.
• High internet penetration rate and the availability of high data rates at affordable speed are driving the demand for mobile computing devices. At present, the network traffic is growing at an exponential rate, primarily because of the increased popularity of mobile computing devices. As a result, there is continued deployment of next-generation wireless standards such as 4G and 5G across the globe. Some of the smartphone companies are focusing on expanding their presence.

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SOURCE Technavio