Acoustic Wave Sensor Market expected to be worth USD 868.3 Million by 2023, at a CAGR of 10.7%

Posted June 3, 2019 by poojapatange

Acoustic Wave Sensor Market by Type (Surface Acoustic Wave, Bulk Acoustic Wave), Device (Resonator, Delay Line), Sensing Parameter (Temperature, Pressure, Humidity), Vertical (Military, Automotive, Industrial) and Geography - Global Forecast to 2023

The acoustic wave sensor market was valued at USD 422.8 Million in 2016 and is expected to grow at a CAGR of 10.7% between 2017 and 2023. The growing demand for acoustic-based temperature sensors from the various verticals fuels the growth of the market for the temperature sensors. The increasing need of sensors for security and surveillance applications with the rising reliability on acoustic wave sensors is the key driving factor for the acoustic wave sensor market. The base year considered for the study is 2016, and the forecast period considered is between 2017 and 2023. The objective of the report is to provide a detailed analysis of the market on the basis of type, device, sensing parameter, vertical, and geography. The report provides detailed information regarding the major factors influencing the growth of this market.

The industrial vertical held the largest share of the acoustic wave sensor market in 2016 as it involves the largest use of sensors. The automotive vertical held the second-largest market share in 2016. This dominance is attributed to the use of acoustic wave sensors for the security and surveillance applications in these verticals. For instance, pressure sensors are built into tires of cars to wirelessly transmit the pressure data to the driver of the vehicle. This helps prevent accidents caused by tire burst by warning the driver about low tire pressure.

The resonators segment held the largest size of the acoustic wave sensor market in 2016. The resonators are not altered by fluctuations in source and circuit voltage. Therefore, they are suitable for the applications such as automotive keyless entry and tire pressure monitoring.

The temperature sensing parameter holds the largest share of the acoustic wave sensor market. The resonators are not altered by fluctuations in source and circuit voltage. The acoustic wave sensors for temperature sensing are used for critical applications such as monitoring rotating machine components and combustion chambers in the industrial and automotive verticals.

North America dominated the overall acoustic wave sensor market in 2016. Technological advancements, low manufacturing costs, and wireless and passive nature of the products are the major factors propelling the demand for the acoustic wave sensors in this region. The automotive vertical is a major contributor to the growth of the acoustic wave sensor market in North America in terms of market size. The use of acoustic wave sensors in the military segment is a major factor boosting the growth of the market in the region. The US military runs laboratories to provide superior technologies to its militants. The market in APAC is expected to grow at the highest CAGR to surpass the market in North America by 2023.

The technical issues associated with energy consumption and sensitivity is one of the major challenges witnessed by the acoustic wave sensor market. Devices based on metal-oxide-semiconductor technology consume more power than the electrochemical devices. Gas sensors face difficulty with the maintenance of a high level of sensitivity to detect different gases under high humidity conditions. Various sensors have different sensitivities, and their functionalities are specific for particular atmospheric conditions.Major players involved in the 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).

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Issued By Puuja
Country India
Categories Electronics
Tags Acoustic Wave Sensor Market
Last Updated June 3, 2019