New Jersey, NJ, Jan. 20, 2020 (GLOBE NEWSWIRE) -- The global Acoustic Wave Sensor market is expected to grow from USD 526.47 Million in 2017 to USD 1,195.89 Million by 2026 at a CAGR of 10.8% during the forecast period 2019-2026, according to the new report published by Fior Markets. Acoustic wave sensors offer a competitive advantage over traditional sensors due to features such as passive operation, lesser response time and wireless operation. The major driving factors for the acoustic wave sensor market are the surface acoustic wave-based temperature sensors with higher response rate, precision, low cost, and wide sensing temperature range. For instance, there is a growing demand for accurate SAW-based temperature sensors system for applications such as outside air temperature management, engine coolant temperature management, active in-vehicle temperature management, and cylinder heat temperature management in the automobile industry. In addition, advanced temperature sensors are increasingly being preferred by various end-user industries.
Acoustic wave sensor uses piezoelectric material to generate the acoustic wave. Changes in the propagation path characteristics can affect the wave's amplitude and velocity due to the acoustic wave produced on the material's surface. In various industries such as automotive, manufacturing, defense, healthcare, and consumer electronics, the acoustic wave sensor market is applied.
The major factors that are anticipated to be driving the acoustic wave sensor market are growing concern toward security and surveillance and high demand for surface acoustic wave (SAW) based temperature sensors among industrial end-users. However, technical issues related to size, sensitivity, and energy consumption may hamper market growth.
Key players operating in the global Acoustic Wave Sensor market include Boston Piezo-Optics Inc., Burkert, Defiant Technologies, H. Heinz Meßwiderstände GmbH, Hawk Measurement Systems, Precision Acoustics Ltd., Pro-Micron GmbH & Co. Kg, Sensanna Incorporated, Siemens AG, STMicroelectronics N.V., Transense Technologies PLC, and Vectron International Inc. among others. To enhance their market position in the global bakery premixes market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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The SAW sensors segment had a market value of around USD 350.10 million in 2018
The type segment is divided into Saw Sensors, Baw Sensors. The Saw Sensors segment emerged as the leader in the global acoustic wave sensor market with a revenue of USD 350.10 million in 2018. This was because Surface acoustic wave (SAW) sensors are used to sense the occurrence of any change in frequency of various parameters such as temperature, torque, pressure, chemical vapors, and so on. When the acoustic wave created due to these parameters are subjected to pass parallel to the piezoelectric substrate of the SAW sensor from one electrode to another electrode, the variation in their velocity, frequency, and attenuation of the SAW is sensed by the molecules present in the substrate coating. Therefore, SAW sensors are used to sense and indicate the variation in the concentration of a specific chemical in the environment.
The resonator segment is anticipated to grow at a CAGR of around 11.2% in 2019-2026
The application segment includes resonators and delay lines. The bread products segment is anticipated to grow at the highest CAGR of around 11.2% over the forecast period because acoustic wave resonator uses the vibration of piezoelectric material and it employs acoustic waves generated to the high-frequency circuit. These resonators have applications such as tire pressure monitoring, automotive keyless entry, and many more which will boost the demand for resonators in the acoustic wave sensor market over the forecast period.
The temperature sensors had a market value of around USD 111.09 million in 2018
The sensing parameter segment is divided into temperature, pressure, humidity, chemical vapor/gas, torque, mass, viscosity, and others. The temperature sensors emerged as the leader in the global acoustic wave sensor market with a revenue of USD 111.09 million in 2018. This was because temperature sensors based on surface acoustic wave possess low hysteresis, better linearity, and millidegree resolution. In addition, temperature sensors have the additional advantage of requiring no power and of being wireless.
The Industrial and automobile segment is anticipated to grow at a higher CAGR in 2019-2026
The vertical segment includes military, automotive, industrial, healthcare, food and beverages, environment and others. The industrial and automobile sectors are expected to be major application segment over the forecast period. The automobile segment is expected to show growth due to increasing application such as tyre pressure monitoring, torque measurement, and emission control. In industrial and environmental segment acoustic sensors are used for workplace monitoring, combustion emission monitoring and water quality management. Healthcare applications include drug discovery & development and point of care diagnostics.
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Regional Segment Analysis of the Acoustic Wave Sensor Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region led the global Acoustic Wave Sensor market with a revenue of USD 179.95 million in 2018. Technological advancements, wireless and passive nature of the products and low manufacturing cost are the major drivers of the lucrative growth of acoustic wave sensors. The use of acoustic wave sensors in military segment is a major factor responsible for the growth of the North America region. Asia-pacific is expected to be key regional market segment over the forecast period owing to presence of emerging economies such as India, China, Japan, etc. and the emergence of large number of manufacturing industry.
About the report:
The global Acoustic Wave Sensor market is analysed on the basis of value (USD Million), volume (Units), consumption (Units), imports (Units) and exports (Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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