New York, NY, Aug. 08, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Acoustic Wave Sensor Market By Product (Surface Acoustic Wave Sensors and Bulk Acoustic Wave Sensors), By Device (Resonators and Delay Lines), By Sensing Parameter (Humidity, Pressure, Temperature, Chemical Vapor/Gas, Mass, Torque, Viscosity, and Others), and By Vertical (Military, Food and Beverages, Automotive, Industrial, Healthcare, Environmental, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, the global acoustic wave sensor market was around USD 2.70 billion in 2018 and is expected to reach approximately USD 5.52 billion by 2025, at a CAGR of slightly above 10.9% between 2019 and 2025.
Sensors operate on the principle of acoustic wave technology and are used for converting electrical signals into acoustic waves, which are called acoustic wave sensors. These sensors are basically used to measure any alteration in the velocity by analyzing the phase or frequency characteristics of sensors that correlates to any measured physical quantity.
Browse through 91 Tables & 37 Figures spread over 215 Pages and in-depth TOC on “Global Acoustic Wave Sensor Market: By Type, Application, Industry Size, Share, Growth, Analysis, and Forecast, 2018–2025”.
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The demand for surface acoustic wave (SAW) sensors is at its peak in various industry verticals, which is propelling the acoustic wave sensor market growth. Numerous advantages, such as wide temperature sensing range, accuracy, low cost, and fast response, is enhancing the penetration of SAW-based temperature sensors in various industrial sectors. SAW-based temperature sensors hold significant importance in various verticals and their demand is expected to grow in the upcoming years. The growing adoption of SAW-based temperature sensors due to their capability to operate efficiently, even in harsh environmental conditions is also driving this market. Furthermore, the rising number of SAW-based devices is another factor propelling the demand for SAW-based temperature sensors. These sensors are easy to fabricate, cost-effective, compact, and exhibit high performance.
However, functional challenges like inadequate stability and reliability witnessed in SAW sensors may impact the acoustic wave sensor growth in the future. Stability, usability, and sensitivity in gases or liquid is observed to be quite complex, which might also restrain this market to some extent. Furthermore, the penetration of Surface Acoustic Wave (SAW) based gyro sensors for automobile applications is growing worldwide. The rising demand for SAW sensors for determining angular velocities in various automobile applications is expected to further benefit the market.
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The global acoustic wave sensor market is fragmented on the basis of product, device, sensing parameter, and vertical. The product segment is majorly classified into surface and bulk acoustic wave sensors. An acoustic wave that propagates through the material evincing elasticity, with exponentially decaying amplitude, is termed as a bulk acoustic wave. The bulk acoustic wave sensors segment is expected to grow notably over the forecast timeframe. The device segment includes resonators and delay lines. In 2018, the resonator segment held the largest market share. Resonators oscillate with peak amplitude at some resonating frequencies and are either used for generating desired frequency from the signal or detecting waves of a specific frequency.
The sensing parameter segment of the acoustic wave sensor market comprises humidity, pressure, temperature, chemical vapor/gas, mass, torque, viscosity, and others. The vertical segment includes military, food and beverages, automotive, industrial, healthcare, environmental, and others. These sensors are extensively used for automotive applications, as they are well-suited for varying surroundings. Acoustic wave sensors record tires’ pressure and warn the driver in advance regarding low tire pressure and prevent accidents. Therefore, acoustic wave sensors play a crucial role in the automobile industry and its emerging requirement in this vertical is driving the acoustic wave sensor market rapidly.
Browse the full “Acoustic Wave Sensor Market By Product (Surface Acoustic Wave Sensors and Bulk Acoustic Wave Sensors), By Device (Resonators and Delay Lines), By Sensing Parameter (Humidity, Pressure, Temperature, Chemical Vapor/Gas, Mass, Torque, Viscosity, and Others), and By Vertical (Military, Food and Beverages, Automotive, Industrial, Healthcare, Environmental, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/acoustic-wave-sensor-market
The North American acoustic wave sensor market dominated globally in 2018, due to the growing regional demand for acoustic wave sensors owing to low manufacturing expenditures, technological advancements, and passive product behavior. Furthermore, the presence of developed economies like the U.S. and Canada reduces the financial strain on acoustic wave sensor manufacturers.
Europe accounts for a considerable share of the acoustic wave sensor market globally, owing to the strong presence of prominent acoustic wave sensor manufacturers. Germany is the regional leader and a prime country that is the headquarters of many leading market players like Siemens, Pro-Micron, and H. Heinz Mebwiderstande. Furthermore, the region is witnessing numerous market-relevant business activities, such as product launch, partnerships, mergers, and acquisitions.
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The acoustic wave sensors demand is observed to reach its peak in the emerging Asian economies of India and China. The Asia Pacific acoustic wave sensor market is anticipated to grow significantly over the forecast period, which is dominated by China. The prime factor driving the acoustic wave sensors demand in China is the country’s flourishing military industry. After the U.S., China ranks second in military spending worldwide. In 2017, total military spending in China accounted for nearly USD 228.2 billion. Another reason driving the acoustic wave sensor market is flourishing in the region is these sensors’ low mass sensitivity, high reliability, and low purchase cost.
The Latin American acoustic wave sensor market is forecasted to offer lucrative opportunities in the upcoming years, owing to wide regional adoption of acoustic wave sensors for different industrial and automotive applications. The rising acoustic wave sensors demand in the automotive sector is also driving this regional market. The remarkable presence of the automotive industry in Brazil and Argentina, these countries are prominent contributors in the region.
Acoustic wave sensors are used to warn drivers in case of low tire pressure and thereby preventing accidents caused by tire outbursts. The Middle East and Africa has the highest road accidents rates globally in Libya, Liberia, Malawi, and Iran. The growing concerns toward the rising number of road accidents are expected to drive the acoustic wave sensor market in the region.
Some leading manufacturers operating in the global acoustic wave sensor market are Honeywell International, Siemens, Burkert, GE Sensing, Pro-Micron, IntelliSAW, Mercury United Electronics, Boston Piezo Optics, RF SAW, Transense Technology, SensAction, and Electronic Sensor Technology.
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This report segments the global acoustic wave sensor market into:
Global Acoustic Wave Sensor Market: Product Analysis
Global Acoustic Wave Sensor Market: Resonators Analysis
Global Acoustic Wave Sensor Market: Sensing Parameter Analysis
Global Acoustic Wave Sensor Market: Vertical Analysis
Global Acoustic Wave Sensor Market: Regional Analysis
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