Global Surface Acoustic Wave (SAW) Devices Market: Key Insights and Opportunities Expected to Grow till 2024

Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Surface Acoustic Wave (SAW) Devices Market - Global Industry Analysis Size Share Growth Trends and Forecast 2016 - 2024” offers a detailed analysis of the market, providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the Global Surface Acoustic Wave (SAW) Devices market have been elaborated upon in the research report.

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The significant rise in the industrial application of surface acoustic wave (SAW) devices has been boosting the global market for SAW devices substantially. The increasing usage of these devices in communication technology and safety monitoring and defense application is also adding remarkably to the growth of this market.

Driven by the upswing in the application of these devices in electronic components and televisions and radios, the worldwide SAW devices market, which stood at US$1.9 bn in 2015, is likely to expand at a CAGR of 6.90% between 2016 and 2024 and reach a value of US$3.4 bn by the end of 2024.

Filters to Remain Most Valued Product in Global SAW Devices Market

Filters, resonators, oscillators, and transducers are the key products available in the global market for SAW devices. The demand for filters is much higher than other products and is likely to continue like this over the forthcoming years, thanks to their extensive application in satellite broadcasting, wireless communication modules, keyless entry systems, and cellular phones.

The demand for SAW oscillators are also expected to rise at a healthy rate as their usage in television transmitters and radios to generate signals for broadcasting is likely to escalate substantially in the years to come. Furthermore, the augmenting demand for video games and electronic beeps, of which SAW devices are important components, is also projected to reflect positively on their demand in the near future.

Asia Pacific to Continue as Leading Revenue Contributor

Geographically, the global market for SAW devices is categorized into Asia Pacific, North America, South America, Europe, and the Middle East and Africa. Among these, Asia Pacific has emerged as the leading regional market for SAW devices and is projected to retain its position over the next few years. The high concentration of semiconductor companies in emerging economies, such as China, Taiwan, Japan, South Korea, and India, is the main factor behind the growth of this regional market.

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Apart from this, a large number of telecommunication and consumer electronics enterprises have their production units in this region. The availability of cheap labor and raw materials have encouraged these manufacturers to set up their manufacturing facilities in this region, which subsequently, has increased the demand for SAW devices in Asia Pacific and is expected to remain doing so over the years to come. Hitherto, China, Taiwan, and Japan have been dominating the Asia Pacific market for SAW devices. However, India is likely to witness the growth at a rather faster rate in the near future due to the increasing adoption of technology.

North America stood second in the global market for SAW devices in 2015 and is anticipated to continue at the same position in the years to come, thanks to the widespread application of these devices across a number of industries in this region.

Taiyo Yuden, Tai Saw Technology Co. Ltd., Infineon Technologies AG, TDK Corp., Murata Manufacturing Co. Ltd., API Technologies, Oscilent Corp., Kyocera Corp., and ITF Co. Ltd. are the leading manufacturers of SAW devices across the world.

Global Surface Acoustic Wave (SAW) Devices Market: Segmentation Analysis

The surface acoustic wave devices market on the basis of devices has been segmented into filters, oscillators, resonators, transducers and others. The surface acoustic wave device on the basis of end use industry has been segmented into aerospace and defense, telecommunication, environmental and industrial, automotive, consumer electronics, healthcare & medical and others.

The global surface acoustic wave devices market by geography has been broadly segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America. The market report deals in the forecast of the surface acoustic wave devices market in terms of revenue (USD million) in terms of revenue as well as the CAGR for the forecast period of 2016 to 2024.

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This release was published on openPR.