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.
Opportunity: Immense growth opportunities in automotive industry
The automotive industry is well known for developing new application and development of sensor technologies for automotive safety systems. This system has become advanced, sophisticated and efficient over a period of time. Now a day’s automotive industry is more prone to the use of advanced new technologies for reducing number of accidents and decreases the impact of accidents. Acoustic wave sensors have played an important role in achieving these targets, where these systems have made vehicles safer for the occupants. The new awareness of the governments and consumers towards safety of vehicles is one of the major drivers for the acoustic wave sensor market. The increasing demand of micro electro-mechanical sensor (MEMS) technology that uses new sensor technologies for applications like pressure sensing in tire pressure monitoring system (TPMS). The MEMS technology plays an important role in automotive industry as it reduces cost and space as compared to other technologies. SAW sensors are mainly deployed in this industry to sense the modulation occurred in a physical phenomenon. These sensors have limited applications in automotive industry like for torque sensing in electronic power steering, TPMS, and the monitoring of combustion engine but with the increasing advancement in technology many applications is expected to emerge.
Acoustic wave sensor market in APAC to grow at highest CAGR during forecast period
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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