Global Bulk Acoustic Wave Resonators Market Size, Share, and COVID-19 Impact Analysis, By Material Type (Aluminum Nitride (AlN), Zinc Oxide (ZnO), Cadmium Sulfide (CdS)), By Vertical (Consumer Electronics, Aerospace & Defense, Automotive, Telecommunication, Industrial, Healthcare & Others), and by Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) Analysis and Forecast 2022-2028

KEY MARKET INSIGHTS

The Bulk Acoustic Wave Resonators Market was valued at US$ 2.3 Bn in 2021 and is projected to reach US$ 2.8 Bn by 2028, at a CAGR of 4.1%. Bulk-Acoustic-Wave (BAW) resonators use the vibration of the bulk of the piezoelectric substrate to pick out electric signals in a certain frequency band. Bulk acoustic wave resonators are electromechanical devices that provide frequency control, selection, and signal processing capabilities in a wide range of radio frequency applications. A first electrode is induced over a substrate, a piezoelectric layer is put over the first electrode, and a second electrode is disposed over the first piezoelectric layer in a bulk acoustic wave (BAW) resonator. Within the piezoelectric layer, a bridge is formed, which is encircled by the piezoelectric layer's piezoelectric material. The bulk acoustic resonator filters different frequencies of radio waves by processing incoming signal resonances. Bulk acoustic wave resonator is a device made up of a thin-film piezoelectric sandwiched between the top and bottom electrodes. Due to its advantages of high quality (Q) factor, FBAR has been widely employed in radio frequency (RF) front-end circuits such as RF filters. The piezoelectric material has a significant impact on FBAR performance. Aluminum nitride (AlN) and zinc oxide (ZnO) are common piezoelectric materials used in bulk acoustic wave resonator.

COVID-19 Analysis

The global bulk acoustic wave resonators market is negatively impacted with the outbreak of COVID-19. The outbreak's consequences and impact are expected to intensify in the coming months as the virus spreads. Several governments of few countries are considering national-level lockdowns as a viable means of controlling viral transmission. The outbreak of Covid-19 has forced governments around the world to deploy severe rules such as lockdown, temporary shutdown, social distancing, caused disruption in production of raw materials and in turn increased costing of raw materials. Shipments of raw materials, as well as revenue produced have fallen. Furthermore, insufficient raw material supply will limit the rate of bulk acoustic wave resonators, influencing the management of the bulk acoustic wave resonators supply chain. The Airports Council International (ACI) has cautioned that the COVID-19 outbreak's protracted length will have a substantial impact on the region's airport connectivity and economic sustainability, limiting the region's ability to achieve previously estimated growth possibilities. This chain of occurrences is expected to have a negative influence on the growth of the bulk acoustic wave resonators market in the future years.

LATEST TREND

Growing Development of Wireless Communication Applications to Propel Demand for Bulk Acoustic Wave Resonators

The rapid development of wireless communication applications has led to the urgent requirement for wide bandwidth and high-speed data transmissions. The wireless market has witnessed tremendous growth and development in recent years due to the introduction of wireless mobile phone systems. The bulk acoustic wave resonators market has potential growth prospects due to the continuous expansion in the number of subscribers and new application areas of wireless technologies. Furthermore, the adoption of wireless systems has accelerated in recent years as a result of rising demand for power-efficient and dependable semiconductor goods, opening up new growth opportunities for the bulk acoustic wave resonators market.

DRIVING FACTORS

Deployment of 5G to Open Innovative Opportunities Avenues for BAW Market

Several semiconductor manufacturers are attracted to the growing infrastructure development in the telecommunications industry in both emerging and developed economies. One of the current technological advancements in the telecom business is the deployment of next-generation LTE networks. Semiconductor manufacturers have begun to upgrade their product lines to support 5G infrastructure. Aforementioned factors are creating the demand for the growth of the global bulk acoustic wave resonators market.

Growing Demand of Miniaturization of Electronic Equipment

The increased demand for miniaturized electronic components is attributable to technological advancements that meet the growing demand for compact consumer electronics. The automotive and consumer electronics are the two industries which is getting benefitted majorly from the miniaturization of electronic equipment. The multifunctional power along with supply voltages for the components is provided by the bulk acoustic wave resonators. In addition to the space requirements of the application, the costs also play a crucial role for the growth of the global bulk acoustic wave resonators market.

RESTRAINTS

Concerns Pertaining Power Consumption and Technical Issues May Hinder the Market Growth

One of the main problems limiting market growth is the inefficiency of these resonators in terms of power consumption. Despite these constraints, growing economies offer bulk acoustic wave resonators market players a surfeit of fresh sales opportunities for future expansion is limiting the growth of the global bulk acoustic wave resonators market.

SEGMENTATION

The global bulk acoustic wave resonators market is segmented by material type (Aluminum Nitride (AlN), Zinc Oxide (ZnO), Cadmium Sulfide (CdS)), by vertical (consumer electronics, aerospace & defense, automotive, telecommunication, industrial, healthcare & others) and region. Based on the material type, the market is categorized into Aluminum Nitride (AlN), Zinc Oxide (ZnO), Cadmium Sulfide (CdS). Based on vertical, the market is categorized into consumer electronics, aerospace & defense, automotive, IT & telecommunications, industrial, healthcare & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

Material Type Insights

Based on the Material Type segment, the global bulk acoustic wave resonators market is categorized into Aluminum Nitride (AlN), Zinc Oxide (ZnO) and Cadmium Sulfide (CdS). The Aluminum Nitride (AlN) segment accounted largest market share in 2020 due to the growing demand for commercial applications and rugged military across the world. The Aluminum Nitride (AlN) has multiple benefits coupled with robustness, lightweight, high density, and shock resistance.

Vertical Insights

Based on the Vertical segment, the global bulk acoustic wave resonators market is categorized into consumer electronics, aerospace & defense, automotive, telecommunication, industrial, healthcare & others. The consumer electronics segment accounted largest market share in 2020 due to the growing demand for household and commercial applications among the population. Increasing smart devices and smart home is propelling the growth of the global bulk acoustic wave resonators market. Coupling with advance technologies including IoT, artificial intelligence, machine learning, cloud computing and others are used to secure data and collect information.

REGIONAL INSIGHTS

The global bulk acoustic wave resonators market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia Pacific is expected to dominate the market share of global bulk acoustic wave resonators market owing to the increasing demand for the resonators from computers, communications, and consumer electronics applications, as well as for enhanced features and connectivity products. Furthermore, due to increased air passenger traffic, concerns about flight safety, and lower maintenance costs, the region is witnessing enormous expansion in the aviation sector, which has resulted in a demand for bulk acoustic wave resonators. Increasing digitalization and huge population is creating the demand of bulk acoustic wave resonators in the region. North America is anticipated to emerge as the fastest-growing region over the forecast period. Due to the presence of major key players and advanced technologies is propelling the growth of the global bulk acoustic wave resonators market.

KEY INDUSTRY

• Teledyne Defense Electronics
• Infineon Technologies AG
• Broadcom
• Qorvo, Inc
• Skyworks Solutions, Inc.
• Texas Instruments Incorporated
• Murata Manufacturing Co., Ltd
• Ecos Solution Co.,Ltd.
• AKOUSTIS
• API Technologies (UK) Limited
• Others

KEY INDUSTRY DEVELOPMENTS:

March 2022- Infineon Technologies AG has introduced an innovative new hybrid inline connector solution that makes production easier, reduces the number of connections needed, simplifies supply chain complexity, and saves money.

SEGMENTATION

By Material Type

• Aluminum Nitride (AlN)
• Zinc Oxide (ZnO)
• Cadmium Sulfide (CdS)

By Vertical

• Consumer Electronics
• Aerospace & Defense
• Automotive
• Telecommunication
• Industrial
• Healthcare
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia