Acoustic Wave Sensor Market
A new market study, titled “Acoustic Wave Sensor Market” has been featured on Market Research Future.
according to a current research report by Market Research Future (MRFR), the global acoustic wave sensor market is estimated to grow over USD 895 million by 2023, registering nearly 11% CAGR through the forecast period (2017 to 2023).
Drivers and Restraints
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The increasing incorporation 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 comprise the high demand for saw-based temperature sensors across the end-user verticals and the growing apprehension towards security & surveillance and the increasing implementation of these sensors. Moreover, technological innovations along with the increasing urbanization and industrialization, drive the market growth to an extent. Improving economic conditions provide stimulus to the growth of the acoustic wave sensor market, driving the purchasing power and accessibility to the quality of life of consumers.
On the other hand, influential factors such as the computational cost and technical issues related to energy consumption, and sensitivity are restraining the growth of the global acoustic wave sensor market. However, the rising demand from end-users for smarter systems is expected to support the market growth, growing steadily over the forecast period.
The global acoustic wave sensor market can be analyzed on the basis of type, device, end-users and region. On the basis of type, the acoustic wave sensor market can be bifurcated as bulk acoustic wave sensor and surface acoustic wave sensor. Among these, surface acoustic wave sensor can be accounted for the largest market share majorly owing to wireless and passive nature of sensors, growing penetration of micro electro mechanical system (MEMS) technology and low manufacturing expense. On the other hand, the bulk acoustic wave sensor segment is poised to grow over the forecast period.
The market on the basis of the device, is segmented into resonator, delay line, holographic television, holographic tele presence, and others.
The vertical segment of the market comprises of healthcare, automobile, industrial, food and beverage, environment, defense, and others.
The acoustic wave sensor markets in APAC, Europe and North America are accountable for the leading markets for acoustic wave sensors, globally. Some of the major factors leading the market growth are the rapid technological advancements, increasing demand for high-end technology solutions, and the rising usages of acoustic sensors in the aerospace and defense sector. Additonally, the increasing research and development activities alongside the stable economic conditions provide impetus to the growth of the market. Furthermore, factors such as the strict government regulations on vehicles’ safety, the strong surge in vehicle manufacture and sales along with continued demand for security and comfort features drive the market expansion in these regions. The US market supported by by its third largest share in global acoustic wave sensor market leads the regional market. The market in America is further augmented to grow at a substantial CAGR over the review period. The Asia Pacific region is exceedingly emerging as a promising market for acoustic wave sensor wing to the presence of a high number of producers of these sensors and the increasing growth of automotive industries. Moreover, factors such as the stringent government regulations, the rising demand for low-end automobiles, and significant car designers to improve the safety provision in car designs will allow the market to expand with a considerable CAGR.
The prominent players of the global acoustive wave sensor market as identified by MRFR, are Althen GmbH Mess- und Sensortechnik (Germany), Transense Technologies plc (UK), Vectron International Inc. (US), Hawk Measurement Systems (Australia), Qualtre Inc. (US), Sensor Technology Ltd. (US), SENSeOR SAS (France), NanoTemper Technologies GmbH (Germany), Pro-micron GmbH & Co. KG (Germany), and H. Heinz Meßwiderstände GmbH (Germany) among others.
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