In its research report, Market Research Future (MRFR), highlights that the global Electronic Filters Market 2020 is slated to grow exponentially over the review period, securing a substantial market valuation from USD 12.7 billion in 2018, to USD 46.09 Billion, and a healthy CAGR over the review period.
The major market players operating in the global market as identified by MRFR are
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Drivers and Restraints
In the last couple of years, the global market for electronic filters has seen eminent growth. These filters are commonly used in the telecommunications and electronics & semiconductor industries. Growing penetration of electronic goods and rising demand among consumers for connected devices are driving the growth of the electronics and semiconductor industries. Advanced technology such as artificial intelligence, 5 G, cloud computing, the internet of things, autonomous driving and augmented & virtual reality and their integration into electronic devices such as smartphones and audio-electronic products is slated to boost the growth of the electronic filter market during the forecast period. Due to the rapidly changing technological environment and rising proliferation of smartphones and connected devices worldwide, the telecommunications industry is going through a gradual change. In addition, the growing penetration of LTE networks, especially in the developing world regions coupled with the advent of 5 G, are key factors driving the growth of the global telecommunications industry. The positive growth outlook of the global telecommunications industry as a result of rising network penetration and growing consumer demand for digital content drives demand for electronic filters.
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The global electronic filters market has been segmented based on application, type, and region.
Based on the type, the electronic filters market has been segmented into high pass filter, bandpass filter, low pass filter, band reject filter, and all-pass filter.
Based on the application, the electronic filters market has been segmented into radio communication, power supplies, audio electronics, and analog to digital conversion. The audio electronics segment accounted for the largest share in the global electronic filter market. due to booming media & entertainment industry, the scope of audio electronics is expanding which is further expected to fuel the adoption of electronic filters.
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The global business regional analysis was conducted in four major regions including Asia Pacific, North America, Europe and the rest of the world.
Due to the growing adoption of LTE and VoLTE networks and the presence of a considerable number of electronic component producers in China, Japan, and South Korea, the Asia-Pacific market is expected to dominate the RF filter market over the forecast period. Due to substantial market share and rapid development in network infrastructure to deploy 5 G network services in the country, North America market is expected to expand at a faster pace during the forecast period. The US and Canada are slated to dominate the demand for electronic filters; in addition, Mexico’s market is slated to expand at a steady pace over the forecast period. Due to the increasing adoption of the latest technologies in the healthcare and automotive sectors, Europe is expected to take third place in the electronic filters market during the forecast period.
Improvements in the global economic dynamics combined with technological advances in the emerging economies in India , China, South Africa , Brazil and Argentina are likely to fuel market growth, making it an ideal time for vendors to expand the market for electronic filters to untapped geographies and increase the market share.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.