The acoustic wave sensor market is expected to be
worth USD 868.3 Million by 2023, at a CAGR of 10.7% between 2017 and
2023. The growth of this market is propelled by the high demand for
SAW-based temperature sensors from various verticals.
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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.
Market players such as Althen GmbH Mess- und
Sensortechnik (Germany), Vectron International Inc. (US), Qualtre Inc.
(US), SENSeOR SAS (France), NanoTemper Technologies GmbH (Germany), and
Transense Technologies plc (UK) are focusing on product launches and
developments, mergers, acquisitions, and collaborations to enhance their
product offerings and expand their business.
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