According to a report published by Transparency Market Research (TMR), the global surface acoustic wave devices market is projected to grow at a 6.90% CAGR in the period of 2016-2024 and reach US$ 3.4 bn by the end of 2024. This growth is primarily attributed to the presence of a large number of new companies that are actively working in the industry. For instance, In October 2017, a supplier of semiconductor and system solutions named Microsemi Corporation joined hand with Knowles Corporation, an electronic component manufacturing company. They together declared that Microsemi came into an agreement to take over the high-performance SAW filter business named Vectron International; it is a company of Knowles.
The purpose of the takeover is Vectron's correlative innovation suite increases the Microsemi's item offering with separated innovation. In addition, it enables Microsemi to pitch more to its level one clients in the defense and aerospace, industrial and communications markets. This acquisition has also enhanced the working execution of the joined model as they execute on substantial synergy prospects. There are major organizations in the surface acoustic wave devices markets like ITF Co. Ltd., Murata Manufacturing Co. Ltd., Oscilent Corp., API Technologies, and Kyocera Corp.
SAW filters are utilized in numerous ways that offer signal processing, frequency selection, frequency control capabilities. These filters are electromechanical devices and consist of a piezoelectric substrate. This substrate is used due to the performance of the SAW filters are hinged on. According to, the TMR analysts, the global surface acoustic wave devices market was valued at US$1.9 bn in 2015. The global market is projected to grow at a stellar 6.90% CAGR in the forecast period of 2016-2024 and reach US$3.4 bn by the end of 2024.
Based on end-use industry, the surface acoustic wave devices market is divided into aerospace and defense segments. This segmentation holds the maximum revenue share of the surface acoustic wave devices market. The growth in this category is due to the high capital investment in R&D in developing countries. Along with it, the applications of SAW devices owing to their low cost and efficient performance is attributed to the growth of the market. Geographically, Asia Pacific has maintained a leading position in the surface acoustic wave devices market and is projected to be in this position in the forthcoming years.
Development of Communication Industry Will As a Boon for the Market
Surface acoustic wave devices have numerous sets and configurations; however, one specific usage of surface acoustic wave devices exists in the form of communication devices. Surface acoustic wave devices offer compact packaging, low shape factor, features of a superior linear segment, quality in rejection, and comparative steadiness in performance. Other factors for the surface acoustic wave devices market are associated with the physical structure of the device. This includes strong and reliable designs that are steady in the field.
Furthermore, the wafer and structure processing strategies of the surface acoustic wave device accommodate a repeatable gadget in both high and low volume manufacturing. Another factor for the surface acoustic wave devices market incorporates the development of the communication industry, which forms a significant application part for the surface acoustic wave devices market.
Complex Housings Structure to Deter Growth of the Surface Acoustic Wave Devices Market
A few restrictions for surface acoustic wave devices market have been identified with its complex development. This development is ensured by methods for complex lodgings structure. Some disadvantages for the surface acoustic wave devices market incorporate its reliance on temperature and the rising device losses. This is due to the rising enterprises across the globe there has been a growth in the utilization of different components in mechanical applications. Surface acoustic wave devices are progressively utilized in numerous gadgets and applications associated with communication technology. Furthermore, the defense-related applications that are promoting the development of the surface acoustic wave devices market are majorly benefitted by this industry.
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