LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global tunable capacitors market to grow at a CAGR of close to 8% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global tunable capacitors market for 2017-2021. The report also lists medical devices, defense and aerospace equipment, and consumer devices as the three major application segments for tunable capacitors. The consumer devices segment accounted for close to 64% of the market share in 2016.
According to Chetan Mohan, a lead analyst at Technavio for embedded systems research, “The need for high-speed Internet and uninterrupted network connectivity is expected to drive the growth of the tunable capacitors market. The growth of IoT and development of smart cities is another factor that is driving the market. The acute technological requirements of IoT would necessitate the use of tunable capacitors for the efficient utilization of RF signals.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global tunable capacitors market:
- Increased need to improve RF link quality
- Growth in shipments of LTE-enabled computing devices
- Increasing investments in R&D for hybrid tunable capacitors
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Increased need to improve RF link quality
Smartphones face several difficulties in improving the RF link quality. Smartphone manufacturers cannot integrate wide-band passive antennas on a printed circuit board because of miniaturization, which is becoming a key trend in the industry. Antenna tuners, such as tunable capacitors, are necessary to achieve a high RF link quality. Without the use of such tuners, the performance of the device is significantly affected.
The use of the latest telecom standards, such as LTE and 4G, worldwide has led to the introduction of many new bands of frequencies that require support. Smartphone manufacturers have now started using high-powered tunable capacitors to overcome this challenge. Thus, there will be a significant increase in demand for tunable capacitors during the forecast period.
Growth in shipments of LTE-enabled computing devices
The deployment of LTE networks is increasing in developed and developing economies. LTE-enabled devices are expected to account for around 50% of all smartphone shipments, and this value will likely increase to over 72% by 2020.
In 2016, the shipment of smartphones in India grew by around 30%, making India one of the fastest-growing smartphone markets in APAC. South Korea, Japan, the US, India, and China are the major countries that are witnessing a high demand for LTE-based handsets. Apple, SAMSUNG, Lenovo, and LG Electronics dominate the LTE-enabled handset market. The increase in shipments of LTE-enabled devices across regions will drive the adoption of tunable capacitors among computing device manufacturers, resulting in market growth.
Increasing investments in R&D for hybrid tunable capacitors
In recent years, market vendors have been increasingly spending a significant volume of their revenue on R&D activities to gain an advantage over their competitors and to obtain larger market shares.
“The key buying criteria for tunable capacitors is a high signal strength, reliability, and efficiency, which can be achieved or improved through R&D. For manufacturers of tunable capacitors, the R&D department is crucial because the company can display its superior innovations as a competitive advantage over other players,” says Chetan.
Leading manufacturers have been engaged in carrying out R&D activities in hybrid capacitors. They have announced the development of new hybrid microelectromechanical systems (MEMS)-based tunable capacitors that have low loss and corresponding high Q. These new products are a result of extensive R&D by market vendors. The increase in R&D expenditure is expected to drive the growth of the global tunable capacitors market during the forecast period.
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