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 acoustic wave
sensor 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
acoustic wave sensor 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.
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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.
Automotive expected to hold largest size of market based on vertical by 2023
The automotive vertical is anticipated to hold the
largest share of the acoustic wave sensor market. The
microelectromechanical sensor (MEMS) technology is an example for
automotive applications such as pressure sensing in tire-pressure
monitoring system (TPMS), emission control sensors, torque sensors, and
inertia sensors.
Market for torque sensing expected to grow at highest CAGR between 2017 and 2023
The acoustic wave sensor market for the torque
sensing parameter is expected to grow at the highest CAGR during the
forecast period. 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 the torque sensing parameter in
automobiles.
Market in APAC anticipated to grow at highest CAGR between 2017 and 2023
APAC is one of the largest manufacturing hubs in the
world for the automobiles, and the growing integration of acoustic wave
sensor systems in automobile applications is likely to boost the
acoustic wave sensor market in this region.
This market is expected to
grow at the highest pace during the forecast period. 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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