Global Surface-Acoustic Wave DevicesMarketReport, published by Variant Market Research, forecast that the global market is expected to reach $3.5 Billion by 2024 from $2 Billion in 2016, growing at a CAGR of 7.2% from 2016 to 2024. By geography, Asia Pacific and Europe are expected to grow at a CAGR of 7.4% and 7.3%, respectively, during the forecast period.
"Surface-Acoustic Wave Devices Market (By Device Analysis: Filters, Oscillators, Resonators, Transducers; By End-Use Industry: Aerospace & Defense, Telecommunication, Environmental & Industry, Automotive, Consumer Electronics, Healthcare & Medical; By Geography: North America, Europe, Asia-Pacific, RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024"
The global surface-acoustic wave devices market is majorly driven by expanding usage of SAWs devices in various applications such as communication, defense, among others and high demand for smart sensors. Furthermore, increasing demand for electronics such as smartphone and television in emerging economies also boost the growth of the market.
The global surface-acoustic wave devices market has been categorized into devices analysis, end-use industry and geography. Devices analysis is further bifurcated into filters, oscillators, resonators, transducers and others. Filters sub-segment accounted for the highest market share in 2016. Additionally, end-use industry segment include aerospace & defense, telecommunication, environmental & industry, automotive, consumer electronics, healthcare & medical and others. Aerospace & defense and accounted for highest market share in 2016.
The surface-acoustic wave devices market by geography is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). Asia Pacific is the fastest growing region in the market due to availability of raw materials, low labor cost coupled with growing use of these devices in a number of industries in this region. Asia Pacific also accounted for the largest market share of the market in 2016.
The key players in this market are Hitachi High-Technologies Corp., FEI, Carl Zeiss AG, JEOL Ltd, NEC Corporation, TDK Corp., API Technologies, Raytheon Company, Panasonic Industrial Solutions, Kyocera Corp., Infineon Technologies AG, AVX Corp., Boston Piezo-Optics Inc., and Murata Manufacturing Co. Ltd. Among others