Market Overview
Acoustic wave sensors are mainly used for the detection mechanism in various sectors such as telecommunications, automotive, and the defense. In automotive these sensors are used to measure the torque and tire pressure. In medical applications, acoustic wave sensors are used to detect chemical components. These sensors are useful to detect vapor, humidity, temperature, and mass in industrial and commercial applications.
Owing to several of the emerging applications across the industries, acoustic wave sensors perceive a huge demand. capable of being passively and wirelessly interrogated acoustic wave sensors are competitively priced, inherently rugged, very sensitive, and intrinsically reliable. As a result, the Acoustic Wave Sensor Market Size witnesses significant traction across the globe.
According to a study report recently published by Market Research Future (MRFR), the global acoustic wave sensor market is projected to grow over USD 895 MN by 2023, registering approximately 11 % CAGR throughout the forecast period (2017 – 2023). Increasing integration of these sensors in several applications in many burgeoning industries defines the market landscape for the acoustic wave sensor.
Additional factors boosting the market gains include the high demand for saw-based temperature sensors across the end-user verticals and the growing concern towards security & surveillance and the high implementation of these sensors.
Moreover, technological advancements alongside the increasing urbanization and industrialization drive the market growth to an extent. Improving economic conditions provide impetus to the growth of the acoustic wave sensor market, increasing the purchasing power and access to the quality of life of consumers.
On the other hand, factors such as the computational cost and technical issues associated with energy consumption, and sensitivity are impeding the growth of the global acoustic wave sensor market. Nevertheless, the growing demand from end-users for smarter systems is expected to support the market growth, growing steadily over the forecast period.
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Key Players
The key players in the global acoustic wave sensor market include- Althen GmbH Mess- und Sensortechnik (Germany), Vectron International Inc. (US), Qualtre Inc. (US), SENSeOR SAS (France), NanoTemper Technologies GmbH (Germany), Transense Technologies plc (UK), Sensor Technology Ltd. (US), Pro-micron GmbH & Co. KG (Germany), Hawk Measurement Systems (Australia) and H. Heinz Meßwiderstände GmbH (Germany) among others.
Segments
For the purpose of this study, Market Research Future has segmented the market of acoustic wave sensor into type, device, vertical and region.
Type-
- Surface Acoustic Wave Sensor
- Bulk Acoustic Wave Sensor
Device-
- Resonator
- Delay Line
- Holographic Television
- Holographic Tele presence
- Others
Vertical-
- Healthcare
- Automobile
- Industrial
- Food and Beverages
- Environment
- Defense
- Others
Region
- North-America
- Europe
- Asia-Pacific
- RoW
Regional Analysis
The global acoustic wave sensor market is expected to grow significantly over the forecast period, 2017-2023. Automotive segment of acoustic wave sensor market globally drives the market majorly due to their extensive range of uses in the automobile industry. The market is expected to have higher growth rate as compared to the previous years. The global acoustic wave sensor market segmented into four main regions such as North America, Asia-Pacific, Europe and Rest of the World. Automotive segments hold a largest share in the North American region. The reason is attributed to implementation of sensor devices in various industries and the growing concern about security.
Also, organizations are looking for better technologically advanced solutions in this region. Therefore, automotive sector of the North American market accounted for the largest market share.
Asia-Pacific region is expected to grow over the forecast period. Countries such as Japan, China and India contributes largely to the overall market share. The reason is attributed to the increasing number of businesses in this region and the growing adoption of sensors by the automotive industry.
North-America accounted for the largest market share. Countries such as U.S. and Canada contributes largely to the overall market share. The reason is attributed to increasing number of vendor present across this region and the growing use of technologically advanced solutions and presence of technical expertise.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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