The global bulk acoustic wave resonators market was previously valued at USD 2.3 billion in 2021 and is expected to reach USD 2.8 billion by 2028 at a compound annual growth rate of 4.1% during the forecast period.
Bulk acoustic wave resonators are electromechanical devices to provide signal processing capabilities utilized in radio frequency and wireless communications.
Bulk acoustic wave resonators utilize vibration of the bulk of piezoelectric substrates to create certain frequency bands. These electromechanical devices provide frequency control, selection, and signal processing capabilities which are utilized in a wide range of radio frequency applications.
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A bridge is generated within the piezoelectric layer, which is surrounded by the piezoelectric material of the piezoelectric layer. By processing incoming signal resonances, the bulk acoustic resonator filters distinct frequencies of radio waves. A bulk acoustic wave resonator is a device that consists of a thin-film piezoelectric sandwiched between top and bottom electrodes.
With the increasing expansion of wireless communication applications, there is an urgent need for wide bandwidth and high-speed data transfers. Furthermore, with the advent of wireless mobile phone networks, the wireless market has experienced remarkable growth and development in recent years. Because of the ongoing rise in the number of subscribers and new application areas of wireless technologies, the bulk acoustic wave resonators market has witnessed growth possibilities.
The increasing deployment of 5G is expected to sprout market opportunities for the BAW market owing to the rapid infrastructural developments in the telecommunications industry. The introduction of next-generation LTE networks is one of the most recent technological developments in the telecom industry. Semiconductor makers have started to modify their product lines to accommodate 5G infrastructure. This is driving the growth of the worldwide bulk acoustic wave resonators market.
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The rising need for small electronic components is owing to the technical improvements designed to suit the growing demand for smaller consumer devices. The automobile and consumer electronics sectors have benefited the most from the downsizing of electrical equipment. The bulk acoustic wave resonators offer multipurpose power as well as component supply voltages which is expected to drive growth for the market.
KEY INDUSTRY
- Teledyne Defense Electronics
- Infineon Technologies AG
- Broadcom
- Qorvo, Inc
- API Technologies (UK) Limited
- Skyworks Solutions, Inc.
- AKOUSTIS
- Texas Instruments Incorporated
- Murata Manufacturing Co., Ltd
- Ecos Solution Co.,Ltd.
SEGMENTATION
By Material Type
- Aluminum Nitride (AlN)
- Zinc Oxide (ZnO)
- Cadmium Sulfide (CdS)
By Vertical
- Consumer Electronics
- Aerospace & Defense
- Automotive
- Telecommunication
- Industrial
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In terms of segmentation by vertical insights, the market has been fragmented into consumer electronics, aerospace & defense, automotive, telecommunication, industrial, healthcare & others. The consumer electronics segment has been projected to emerge with the largest market share owing to the rising demand for household and commercial applications around the globe. The rising instances of smart devices at homes is also propelling the growth of the bulk acoustic wave resonators market.
- In March 2022, Infineon Technologies AG introduced its inline connector solution to assist in reducing the number of connections required to simplify supply chain complexity and preserve money.
- In February 2022, Taiyo Yuden announced its strategic partnership with TTI with an aim to broaden the presence of the brand in both automotive and electrification industries. It also serves to assist communication infrastructures to enhance the global customer reach of the company.
REGIONAL INSIGHTS
Asia-Pacific is projected to dominate the market share during the forecast period owing to the increasing demand for the resonators from computers, communications, and consumer electronics applications, as well as for enhanced features and connectivity products. Moreover, the increased air passenger traffic and rising concerns of flight safety has resulted in a significant growth of the bulk acoustic wave resonators market.
However, North America is projected to emerge as the fastest-growing region owing to the presence of prominent players in the market and rising number of advanced technologies which are contributing to the significant growth of the bulk acoustic wave resonators market.
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