A new market study, “Global Acoustic Wave Sensor Market Size, Status and Forecast 2020-2023” has been featured on Market Research Future.
The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions.
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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.
Regionally, North America accounted for the largest market share from countries such U.S. and Canada among others. The reason is attributed to growing demand for high-end technology solutions, increasing R&D happening in this region and increasing usage of acoustic sensors in the aerospace and defense sector. However, Asia Pacific is expected to grow over the forecast period, 2017-2023. The reason is attributed to presence of large number of manufacturers and the increasing growth of automotive industries.
The global acoustic wave sensor market can be bifurcated as type, device, end-users and region. On the basis of type, the market can be segmented as bulk acoustic wave sensor and surface acoustic wave sensor. Out of these, surface acoustic wave sensor accounted for the largest market share majorly due to wireless and passive nature of sensors, penetration of micro electro mechanical system (MEMS) technology and low manufacturing cost. However, bulk acoustic wave sensor segment is expected to grow over the forecast period, 2017-2023.
The factors contributing to the growth of the acoustic wave sensor market are high demand for saw-based temperature sensors from end-user verticals and growing concern toward security and surveillance and high implementation in the automotive industry. However, factors such as computational cost and technical issues associated with energy consumption, and sensitivity are hindering the growth of the acoustic wave sensor market. Furthermore, increasing investments in the wave sensor market and increasing opportunities across various industries are expected to boost the growth of the acoustic wave sensor market over the forecast period, 2017-2023.
Acoustic wave sensors can be explained as micro electro mechanical systems which rely on the modulation of surface acoustic waves for sensing a physical phenomenon. The sensor helps to pass an electrical signal into a mechanical wave which can be easily influenced by physical phenomena. The device helps to transduce the wave back into an electrical signal.
The global acoustic wave sensor market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The acoustic wave sensor market is highly competitive due to the presence of several large vendors.
Global Acoustic Wave Sensor
The global acoustic wave sensor market is expected to reach approximately USD 895 million by the end of 2023 with 11% CAGR during forecast period 2017-2023\.
For the purpose of this study, Market Research Future has segmented the market of acoustic wave sensor into type, device, vertical and region.
- Surface Acoustic Wave Sensor
- Bulk Acoustic Wave Sensor
- Delay Line
- Holographic Television
- Holographic Tele presence
- Food and Beverages
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