What Is The Overview Of The Global Surface Acoustic Wave Market?
Surface acoustic wave (SAW) refers to a type of sound wave that travels along the surface of a material exhibiting elasticity, with its amplitude decaying exponentially with depth into the material. These waves are utilized in various technological applications due to their sensitivity to changes in surface conditions and their ability to propagate without much loss.
Surface Acoustic Wave Global Market Report 2024 provides data on the global surface acoustic wave market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The surface acoustic wave market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Surface Acoustic Wave ?
The surface acoustic wave (SAW) market has grown substantially, with revenues increasing from $5.00 billion in 2023 to $5.40 billion in 2024, representing a CAGR of 8.0%. Historical growth has been driven by the rapid development of mobile communication technology, expansion of wireless communication standards, increased demand for high-performance filters, growth in wearable devices, and advancements in driver-assistance systems. Future growth is expected to elevate the market to $7.40 billion by 2028 at a CAGR of 8.2%, supported by demand for high-frequency filters in 5G networks, upgrades in telecom infrastructure, health-monitoring wearables, material innovations, and advanced manufacturing processes. Emerging trends include developing multifunctional devices, enhancing energy efficiency, standardizing frequency bands, and advancing surface acoustic wave technologies.
What Are The Leading Drivers Of Growth In The Surface Acoustic Wave Market?
The expansion of the telecommunications sector is expected to fuel the growth of the surface acoustic wave market. The telecommunications industry is growing due to factors like increased data consumption, the rollout of 5G networks, cloud services, and digital transformation. Surface acoustic wave (SAW) technology plays a critical role in telecommunications by enabling compact and efficient signal processing in devices such as filters and sensors. For example, in February 2024, Deutsche Telekom reported that global telecommunications service revenue increased by 3.3% in 2023, and mobile data consumption per user in Europe grew by 23%. Therefore, the growth of the telecommunications sector is boosting the surface acoustic wave market.
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How Are The Segments Defined Within The Global Surface Acoustic Wave Market?
The surface acoustic wave market covered in this report is segmented –
1) By Type: Filters, Oscillators, Resonators, Transducer, Other Types
2) By Application: Telecommunication, Automotive, Consumer Electronics
3) By Sales Channel: Direct, Indirect
How Are New Trends Expected To Influence The Growth Of The Surface Acoustic Wave Market?
Companies in the surface acoustic wave market are developing highly customizable frequency control products to meet diverse industry needs. These products are crucial in industries requiring precise timing and synchronization. For instance, in February 2023, Rakon Ltd., a New Zealand-based manufacturer, launched RakonXpress, a brand offering off-the-shelf resonators, oscillators, and filters for quick deployment. This brand provides a wide range of frequency control products suited for applications like the Internet of Things (IoT) and automation.
Which Region Drives The Highest Growth In The Surface Acoustic Wave Market?
Asia-Pacific was the largest region in the surface acoustic wave market in 2023. The regions covered in the surface acoustic wave market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
