June 29, 2020
According to the research report titled ‘Electronic Filter Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; Application, available with Market Study Report LLC, global electronic filter market was worth USD 12.89 billion in 2019 and is expected to amass USD 19.13 billion by the year 2027, growing with a CAGR of 5.2% over the analysis timeframe.
Rapid expansion of global telecommunications sector and rising adoption of electronic filters in electronics and semiconductors industry are major factors driving the growth of global electronic filter market. Surging demand for dependable radio communication solutions across various industries and increasing number of 5G deployments are also likely to favor the growth of the market over 2020-2027.
Rising incorporation of technologies such as predictive analysis, cloud computing, big data, artificial intelligence, industrial IoT, and internet of things (IoT) have increased the demand for reliable networks and connected devices among industries and customers, which in turn is stimulating the industry outlook.
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Wireless technologies like 4G, 3G, and 2G are well known across the globe. Additionally, rising integration of advanced technologies and high complexities associated with electronic systems are boosting the demand for improved network latency, capacity, and coverage like 5G, thereby aiding the expansion of electronic filter market. However, rising concerns regarding performance issues of some electric filters may impede the market growth.
As per the report, the electronic filter market is bifurcated based on type and application spectrum. As per type, the market is divided into high pass filter, low pass filter, band stop filter, band pass filter and all pass filter. In terms of application spectrum, the market is classified into analog to digital conversion, radio communications, audio electronics, and power supplies.
Considering the geographical hierarchy, Asia Pacific accounted for a considerable share in the overall market in 2019, followed by North America and Europe respectively. Moreover, the report cites that Asia-Pacific electronic filter industry is slated to grow substantially over the forecast timeframe.
The major players in global electronic filter market are Anritsu Corp., Mini-Circuits, Cosel Europe GmbH, Circutor SA, CD Automation UK Ltd., Captor Corp., BLOCK Transformatoren-Elektronik GmbH, AVX Corporation, ABB Ltd, and Schneider Electric SE among others.