The global tunable filter market is projected to witness a CAGR of 7.65% during the forecast period to reach a market size of US$180.224 million by 2026, increasing from US$107.544 million in 2019. An electric filter in which the frequency of the passband or rejection band can be varied by adjusting its components is called a tunable filter.
Market Drivers
The rising implementation of acousto-optic tunable filters for various medical and commercial applications and usage of liquid crystal tunable filters for highly demanding machine vision applications are some of the major drivers in the current period. Significant R&D investments to innovate novel tunable filter technology are opening up new avenues of opportunities for the market. Again, the growing adoption of tunable filters for applications such as fluorescence microscopy and hyperspectral imaging, and spectroscopy is expected to create new roads for the global tunable filter market. Thus, the market is governed by novel innovations and applications in several industry verticals during the forecast period.
By end-user, the telecommunication and military sector shows the highest growth potential due to the advancement of technology and demand for wireless communication services. Geographically, North America dominates the market and the Asia-Pacific region is expected to show the highest growth rate.
Growth Factors
The defense sector of any country holds significant expenditure in its budget. And this sector invests heavily in developing new products to strengthen the country's military position. Tunable bandpass filters are an integral component for military handheld radios, radar systems, satellite communications, test and measurement systems, and other RF and microwave applications. Countries like the United States, China have the largest defense sector in the world and these countries rely on radio communications which employ tunable filters in their devices. As the expenditure for the defense segment increases, the market for tunable filters will have profited in the years to come.
A well-defined communication system has been an utmost necessity in today's world. And the need for it intensified after the hit of the Covid-19 pandemic as people shifted to a hybrid mode of work. The compact tunable filter is rapidly changing the communication world with ever more growing wireless applications. Compact, high-performance, tunable bandpass filters reduce the insertion loss and are highly selective and their uses in broadband applications provide a growing opportunity for the market. These filters will also provide cost-effective and compact solutions for the growing wireless communications market.
Restraints
Higher initial cost and substantial investment may be a restraining factor for emerging players in the tunable filter industry, eventually, affecting the growth opportunities for the tunable filter market globally. Furthermore, the lack of set standards for tunable filters and the presence of low-quality filters in the market could also hamper the growth of the market. However, increasing investment from well-established players in the development of tunable filter technology is expected to overcome this restraint soon.
The tunable filter market is reliant on its end-users and has faced an indirect impact of the global pandemic. The medical and telecommunication sector gained strength during the pandemic and the demand for tunable filters from these sectors continued to rise to help them remain afloat in the market. However, aerospace and military expenditure showed a decline which bought down the demand for tunable filters. Overall, the market witnessed a mixed response during the unprecedented global pandemic.
Competitive Insights
Some of the market leaders in the Global Tunable Filter Market are EXFO, K&L Microwave, Analog Devices, IDEX Corporation, Kent Optronics, Inc, SANTEC CORPORATION, Netcom Inc, DiCon Fiberoptics, Coleman Microwave Company, Smiths Interconnect, and Micron Optics, Inc. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For instance,
Report Metric | Details |
Market size value in 2019 | US$107.544 million |
Market size value in 2026 | US$180.224 million |
Growth Rate | CAGR of 7.65% from 2019 to 2026 |
Base year | 2019 |
Forecast period | 2021–2026 |
Forecast Unit (Value) | USD Million |
Segments covered | Type, Device Type, End-User Industry, And Geography |
Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies covered | EXFO, K&L Microwave, Analog Devices, IDEX Corporation, Kent Optronics, Inc, SANTEC CORPORATION, Netcom Inc., DiCon Fiberoptics, Coleman Microwave Company, Smiths Interconnect, Micron Optics, Inc. |
Customization scope | Free report customization with purchase |
Segmentation:
Frequently Asked Questions (FAQs)
Q1. What will be the tunable filter market size by 2026?
A1. The global tunable filter market is projected to reach a market size of US$180.224 million by 2026.
Q2. What factors are anticipated to drive the tunable filter market growth?
A2. The rising implementation of acousto-optic tunable filters for various medical and commercial applications and usage of liquid crystal tunable filters for highly demanding machine vision applications are some of the major drivers driving the tunable filter market growth.
Q3. What are the growth prospects for the tunable filter market?
A3. The tunable filter market is projected to witness a CAGR of 7.65% over the forecast period.
Q4. What is the size of the global tunable filter market?
A4. Tunable Filter Market was valued at US$107.544 million in 2019.
Q5. Which region holds the largest market share in the tunable filter market?
A5. Geographically, North America holds a significant share in the tunable filter market.
EXFO
K&L Microwave
Analog Devices
IDEX Corporation
Kent Optronics, Inc
SANTEC CORPORATION
Netcom Inc.
DiCon Fiberoptics
Coleman Microwave Company
Smiths Interconnect
Micron Optics, Inc.
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