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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Driver: High demand for SAW based temperature sensors among industrial end users
The continuous demand for temperature sensors from the industry end users is expected to fuel the growth of the acoustic wave based temperature sensor market. Temperature sensor products are increasingly used by various industry end users to integrate sensing technologies in their products such as automotive, medical, industrial, and chemical industries. This helps to reduce replacement costs of the components, reduce wear and tear of the products, increase the safety of the products, and meet stringent reliability requirements.
There is a growing demand for SAW based temperature sensors across various industries owing to their various benefits such as accuracy, wide temperature range, fast response rate, low cost, and repeatability. Since temperature measurement is the most common parameter in many industries, industrial end users are adopting the temperature sensor technology that provides durable and accurate temperature measurements and defects if any.
For instance, there is a growing demand for accurate SAW based temperature sensors system for applications such as engine coolant temperature management, outside air temperature management, active in-vehicle temperature management, and cylinder heat temperature management in the automobile industry. Moreover, advanced temperature sensors are increasingly being preferred by various end-user industries.
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.
Based on type, SAW sensors segment is expected to hold a larger size of the global acoustic wave sensor market
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.
Based on device, acoustic wave sensor market for resonators to grow at highest CAGR from 2017 to 2025
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.
Based on sensing parameter, acoustic wave sensor market for torque to grow at highest CAGR from 2017 to 2025
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.
Acoustic wave sensor market for automotive vertical to grow at highest CAGR during forecast period
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.
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