Report : Electronic Filter Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Type (Low Pass Filter, High Pass Filter, Band Pass Filter, Band Stop Filter, and All Pass Filter); Application (Power Supplies, Audio Electronics, Radio Communications, and Analog to Digital Conversion)
The electronic filter market was valued at US$ 12.89 billion in 2019 and is projected to reach US$ 19.13 billion by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027. The use of electronic filter is rising in communication, semiconductor, chemicals, petrochemicals, automotive manufacturing, steel industries, and among others. Moreover, they are also utilized in image processing, speech signal processing, sports hall, hospital systems, and others. Different types of filters have different applications such as FIR filter is used in audio system, adaptive filtering in signal processing, and FBAR filter in smart phone. The mentioned industries are expanding at a global level which is expected to positively impact the growth of electronic filters.
5G is the next generation wireless technology that offers promising performance enhancements over the existing technologies. Some of the major countries which have already started the successful deployments of 5G include South Korea, the UK, Germany, China, and the US. China is one of the prominent countries where three major telecom operators, namely China Mobile, China Unicom, and China Telecom have already deployed 5G networks in selected cities of China. The increasing adoption of 5G is expected to drive the demand for advanced electronic filters to prevent interference and to maintain signal integrity. This provides an opportunity for electronic filter manufacturers to introduce improved filter designs in order to cater the upcoming demand from increasing 5G deployments worldwide. This trend is predicted to pitch over the period offering a huge opportunity for the electronic filter market players.
Geographically, the electronic filter market has been segmented into five different regions: North America, Europe, Asia Pacific, MEA, and SAM. In 2019, the APAC region holds the highest market share and is projected to be the fastest-growing region during the forecast period. The technology and semiconductor industry are growing exponentially across APAC region. China dominated the electronic filter market in 2019 followed by Japan and South Korea.
Based on type, the electronic filter market is segmented into low pass filter, high pass filter, band pass filter, band stop filter, and all pass filter. The low pass filter segment holds a significant share in the market; however, the band pass filter type is expected to be the fastest-growing segment during the forecast period. Band pass filters are commonly utilized in wireless receivers, transmitters, optics, communication systems, and medical applications such as electrocardiograms and EEGs.
Based on application, the electronic filter market is segmented into power supplies, audio electronics, radio communications, and analog to digital conversion. The audio electronics segment held the largest share of the market in 2019. The electronic filters are used in home audio, live audio/music, and recording audio devices. Additionally, in recording devices, the low-pass filters help in decreasing the sibilance which exists in microphone recordings.
Schneider Electric SE, ABB Ltd, AVX Corporation, BLOCK Transformatoren-Elektronik GmbH, Captor Corporation, CD Automation UK Ltd, CIRCUTOR, SA, Cosel Europe GmbH, Mini-Circuits, and Anritsu are among the major players operating in the electronic filter market.
The report segments the global electronic filter market as follows: