A resourceful research report on global tunable filter market published by Future Market Insights reflects the value and volume trajectories over a period of ten years. It includes value analysis of various segments of the tunable filter market. According to the exhaustive market research report on global tunable filters, the global market is expected to witness a stellar growth rate in the coming years.
| Attributes | Details |
|---|---|
| Estimated Market Value (2017) | USD 77 million |
| Projected Market Revenue (2027) | USD 159 million |
| Value-based Market CAGR (2017 to 2027) | 8.1% |
This market is poised to grow at a value CAGR of 7.4% throughout the period of assessment 2017 to 2027. During this period, the global market is also anticipated to reflect a 2x increase in revenue. In 2017, the global tunable filter market is valued at around USD 77 million and is estimated to reach a value a bit over USD 159 million in 2027.
Wireless communication equipment to extensively make use of tunable filters in the coming years
Use of tunable filters has been increasing across several application areas. However, the demand for tunable filters has been meteoric in the wireless communication equipment sector. The wireless communication equipment segment in the application category was valued at around USD 62 million in 2017 and is estimated to reach a high valuation of more than USD 135 million by the end of the year of assessment.
During the period of assessment, 2017 to 2027, the wireless communication equipment segment is expected to register a stellar value CAGR of 8.1%. Moreover, the Y-o-Y growth of the wireless communication equipment segment is comparatively high than other application segments during 2017 to 2027 timeline.
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| Market statistics | Details |
|---|---|
| H1,2021 (A) | 8.0% |
| H1, 2022 Projected (P) | 7.4% |
| H1, 2022 Outlook (O) | 7.1% |
| BPS Change: H1,2022 (O)-H1,2022(P) | (-)30 |
| BPS Change : H1,2022 (O)-H1,2021(A) | (-)90 |
Tunable filters are primarily used for obtaining the required frequencies from a band of frequencies. COVID-19 and Russia-Ukraine war however has had negative impacts on the tunable filter market. As per FMI analysis, H1,2022(O)-H1,2022(P) witnessed a decline of 30 BPS points.
Tunable filters find an application in satellites, but due to the negative impact which the satellite market had to bear due to the Russian trade sanctions, tunable filter market was negatively impacted as well. Aeronautical industry which uses tunable filters for communication have been impacted because of the pandemic, since the passengers travelling via flights is yet to reach pre-pandemic levels.
Furthermore, H1,2022(O)-H1,2021(A) witnessed a decline of 90 BPS points. Semiconductor supply chain impacted the decline of the tunable filter market to a large extent. An example of this is automobile industry, which uses tunable filters for radio and other wireless communication. But due to COVID-19 and semiconductor disruption, there was a decline in sales and slowdown in deployment.
Tunable filters are also used in military vehicular mount radio components and in tactical radio. These application areas are expected to show a similar adoption rate of tunable filters. The military vehicular mount radio components and tactical radio segments are projected to grow at a value CAGR of 3.5% and 3.4% respectively throughout the period of forecast, 2017 to 2027.
However, the military vehicular mount radio components segment is a shade better with respect to market valuation owing to high traction of tunable filters in this sector. The military vehicular mount radio components segment stood at around USD 5 Million in 2017 and is anticipated to reach a value a bit higher than USD 7 by the end of the year of assessment. On the other hand, the tactical radio segment is expected to reach a value of about USD 5 Million by the end of the forecast period (2027).
The tunable filter market is expected to witness high growth potential in North America, Asia Pacific excluding Japan (APEJ) and Western Europe during the forecast period. In Asia Pacific excluding Japan (APEJ), the use of tunable filters in wireless communication equipment is expected to portray a huge growth rate and the wireless communication equipment segment in APEJ is projected to register a CAGR of 7.2% during the assessment period.
In North America, the wireless communication equipment is poised to register a stellar CAGR of 8.4% to touch a value higher than USD 40 Million by the end of the assessment period. In Western Europe, wireless communication segment is expected to grow at a CAGR of 7.4% during the forecast period to reach a significant market valuation.
| Market Size (2024) | USD 5.30 billion |
|---|---|
| Market Forecasted Size (2034) | USD 13.08 billion |
| Projected Value CAGR (2024 to 2034) | 9.4% |
| Market Size (2023) | USD 977.8 million |
|---|---|
| Market Size (2033) | USD 1,911.5 million |
| Market CAGR (2023 to 2033) | 6.9% |
| Market Value (2023) | USD 10.6 billion |
|---|---|
| Market Expected Value (2033) | USD 29.7 billion |
| Market Projected CAGR (2023 to 2033) | 10.8% |
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Tunable Filter Market
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