Global Bulk Acoustic Wave Devices Market: Snapshot
The market for bulk acoustic wave (BAW) devices has witnessed a significant rise in investment aimed at the development and commercialization of these devices across an increasing number of application areas. These devices find applications in high-end applications across industries such as telecommunications and consumer electronics. For a long time, the high prices of BAW devices restricted their use to industries such as military and defense, however, encouraging R&D activities have allowed the development of low-cost devices over the past few years, significantly increasing their set of applications.
Of late, the market has witnessed a vast rise in demand due to the emergence of the 4G technology. BAW devices are considered superior substitutes over surface acoustic wave (SAW) devices as the former are more compact and suitable for handset designs. Rising demand for miniaturized consumer electronic devices is expected to significantly benefit the global demand for bulk acoustic wave devices in the next few years. The market is also witnessing thorough research activities focused on the reduction of the cost of devices, which could further help their commercialization, driving the market.
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Transparency Market Research states that the global bulk acoustic wave devices market will exhibit a promising 9.3% CAGR over the period between 2017 and 2025, rising from a valuation of US$860.4 mn in 2016 to US$1869.6 mn by 2025.
BAW Filters to Account for Massive Chunk in Global Revenue
The global bulk acoustic wave devices market has been segmented in the report in terms of device type into filters, resonators, and transducers. Of these, the segment of filters accounted for a massive chunk in the overall revenue of the global BAW devices market in 2016. The segment valued at US$510.6 mn in 2016 and is expected to remain the leading segment, exhibiting a promising 9.3% CAGR from 2017 to 2025.
Bulk acoustic wave filters are preferred over the traditionally used surface acoustic wave filters owing to their several advantages such as much smaller shapes and sizes and capability of providing higher frequency despite having smaller form factor compared to surface acoustic wave filters. These factors make BAW filters the most preferred filters in 3G and 4G applications. Furthermore, bulk acoustic wave filters are much less sensitive to temperature variations at wide bandwidths. This provides steep filter skirt with low loss. Thus, as the usage of 4G technology increases, the demand for BAW filters is also expected to grow over the forecast period 2017 to 2025.
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Strong Growth of Key End-use Industries to Keep Asia Pacific BAW Devices Market in Top Spot
Asia Pacific dominated the global market for BAW devices in 2016, retaining its position as the leading contributor of revenue to the global market. The market for BAW devices in Asia Pacific is primarily driven by high concentration of semiconductor companies in emerging countries such as China, Taiwan, Japan, South Korea and India. Moreover, most of the world’s leading telecommunication and consumer electronics companies have their manufacturing facility in this region. Thus, the demand for bulk acoustic wave devices in this region is expected to remain strong in the next few years as well.
North America, which is another promising regional market for BAW devices with high-growth potential, is also expected to retain its position as one of the leading demand drivers and contributors of revenue to the global market. The aerospace and defense industries in the region are the key consumers of a variety of BAW devices. U.S. held the dominant market share in terms of revenue in the North America BAW devices market in 2016.
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