The global acoustic wave sensor market can be bifurcated as type, device, end-users and region. On the basis of type, the market can be segmented as bulk acoustic wave sensor and surface acoustic wave sensor. Out of these, surface acoustic wave sensor accounted for the largest market share majorly due to wireless and passive nature of sensors, penetration of micro electro mechanical system (MEMS) technology and low manufacturing cost. However, bulk acoustic wave sensor segment is expected to grow over the forecast period, 2017-2023.
The factors contributing to the growth of the Acoustic Wave Sensor Market Size are high demand for saw-based temperature sensors from end-user verticals and growing concern toward security and surveillance and high implementation in the automotive industry. However, factors such as computational cost and technical issues associated with energy consumption, and sensitivity are hindering the growth of the acoustic wave sensor market. Furthermore, increasing investments in the wave sensor market and increasing opportunities across various industries are expected to boost the growth of the acoustic wave sensor market over the forecast period, 2017-2023.
The global acoustic wave sensor market is expected to reach approximately USD 895 million by the end of 2023 with 11% CAGR during forecast period 2017-2023.
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The global acoustic wave sensor market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The acoustic wave sensor market is highly competitive due to the presence of several large vendors.
The key players in the global 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) among others.
For the purpose of this study, Market Research Future has segmented the market of acoustic wave sensor into type, device, vertical and region.
- Surface Acoustic Wave Sensor
- Bulk Acoustic Wave Sensor
- Delay Line
- Holographic Television
- Holographic Tele presence
- Food and Beverages
The global acoustic wave sensor market is expected to grow significantly over the forecast period, 2017-2023. Automotive segment of acoustic wave sensor market globally drives the market majorly due to their extensive range of uses in the automobile industry. The market is expected to have higher growth rate as compared to the previous years. The global acoustic wave sensor market segmented into four main regions such as North America, Asia-Pacific, Europe and Rest of the World. Automotive segments hold a largest share in the North American region. The reason is attributed to implementation of sensor devices in various industries and the growing concern about security.
Also, organizations are looking for better technologically advanced solutions in this region. Therefore, automotive sector of the North American market accounted for the largest market share.
Asia-Pacific region is expected to grow over the forecast period. Countries such as Japan, China and India contributes largely to the overall market share. The reason is attributed to the increasing number of businesses in this region and the growing adoption of sensors by the automotive industry.
North-America accounted for the largest market share. Countries such as U.S. and Canada contributes largely to the overall market share. The reason is attributed to increasing number of vendor present across this region and the growing use of technologically advanced solutions and presence of technical expertise.
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