According to the new research report, "Acoustic Wave Sensor Market by Type (surface and bulk); Device (resonator and delay line); Sensing parameters (temperature, pressure and humidity); Vertical (military, automotive and industrial) and Geography (North America and APAC) - Global Forecast to 2025", is expected to grow from USD 0.4 billion in 2016 to USD 1.1 billion by 2025; it is estimated to grow at a CAGR of 10.7% during 2017–2025. Growing concern toward security and surveillance, increasing demand for surface acoustic waves (SAW) based temperature sensors across various industries due to their various benefits such as accuracy, wide temperature sensing range, fast response rate, low cost, repeatability and microelectromechanical sensor (MEMS) technology are some of the major factors fueling the growth of this market.
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SAW sensors segment is expected to hold a larger size of the global acoustic wave sensor market. The leading position of the market for these sensors can be attributed owing to the capability of SAW sensors to sense various parameters such as temperature, pressure, and humidity. These sensors are used to sense and indicate the change in the concentration of a specific chemical in the environment.
The market for resonators is expected to grow at a highest CAGR from 2017 to 2025. Resonators have an advantage over traditional LC/RC electrical resonance solutions having a mechanical method of vibration. The resonators are not altered by fluctuations in source and circuit voltage. Hence, resonators are suitable for the applications such as automotive keyless entry and tire-pressure monitoring.
The market for the torque segment is expected to grow at the highest CAGR from 2017 to 2025. The leading position is due to rise in the adoption of tire pressure monitoring systems (TPMS), emission control, and combustion monitoring in the automotive vertical. Growing trend toward electrical power steering and condition-based maintenance in vehicles is the main factor contributing to the high growth of the market for torque sensing in automobiles.
The acoustic wave sensor market for automotive vertical is expected to grow at the highest CAGR during the forecast period. The demand for the acoustic wave sensors is increasing as they are used in for application such as TPMS, combustion engine monitoring, electronic power steering and oil conditioning monitoring in the automotive vertical.
The acoustic wave sensor market in APAC is expected to grow at the highest CAGR during the forecast period. The region’s huge population, high industrial growth in developing countries like China and Japan, government initiatives and extensive industrial base are the major factors that make APAC a dynamic region for acoustic wave sensor, with Japan and China being the major contributors.
Key players in the market include Althen GmbH (Germany), NanoTemper Technologies GmbH (Germany), H. Heinz Meßwiderstände GmbH (Germany), Transense Technologies plc (UK), Pro-micron (Germany), Vectron International Inc. (US), Qualtre Inc. (US), Senseor SAS (FRANCE), Sensor Technology Ltd. (US), and Hawk Measurement (Australia). These players are increasingly undertaking product launches, mergers, and acquisitions to increase their market shares.
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