Market Analysis
The Global Acoustic Wave Sensor Market is predicted to touch USD 895 million at an 11% CAGR between 2017- 2023 states the recent Market Research Future (MRFR) analysis. An acoustic wave sensor, simply put, is a device which responds to a biological, chemical, physical, or electrical stimulus through the production of electrical output signals, which is the function of input stimulus. The input stimuli comprise a concentration of gas, stress, temperature, or changing pressure that makes the acoustic sensor in responding via changing its resonant frequency.
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Various factors are propelling the global Acoustic sensor market share. As per the current MRFR report, such factors include the rising implementation in the automotive sector, growing concern about surveillance and security, surging demand for saw-based temperature sensors from end-user verticals, reliability and low cost of small sensors, and its multiple benefits such as fast response rate, wide sensing temperature range & accuracy.
On the contrary, sensitivity, technical problems related to energy consumption, computational cost, and the COVID-19 impact are factors that may limit the global acoustic wave sensor market growth over the forecast period.
Market Segmentation
The MRFR report provides an inclusive segmental analysis of the Global Acoustic Wave Sensor Market based on end users, device, and type.
By type, the Global Acoustic Wave Sensor Market is segmented into a surface acoustic wave sensor and bulk acoustic wave sensor. Of these, the surface acoustic wave sensor segment will lead the market over the forecast period for low manufacturing cost, penetration of micro electro mechanism system (MEMS), and passive & wireless nature of sensors.
By device, the global acoustic wave sensor market is segmented into holographic telepresence, holographic television, delay line, resonator, and others. Of these, the resonator segment will dominate the market over the forecast period.
By vertical, the Global Acoustic Wave Sensor Market is segmented into defense, environment, food and beverages, industrial, automobile, healthcare, and others. Of these, the defense segment will have a major share in the market over the forecast period.
Regional Analysis
Based on region, the Global Acoustic Wave Sensor Market report covers the recent trends and growth opportunities across North America, the Asia Pacific (APAC), Europe, & the Rest of the World (RoW). Of these, North America will lead the market over the forecast period. Growing demand for high-end technology solutions, rising research and development, increasing use in the aerospace & defense sector, technological advances, products passive and wireless nature, low manufacturing cost, and surging use in the military segment are adding to the global acoustic wave sensor market growth in the region. Canada & the US have a maximum share in the market.
The acoustic wave sensor market in the APAC region is predicted to grow at a fast pace over the forecast period. The booming automotive industry, coupled with the presence of several prominent manufacturers, is adding to the acoustic wave sensor market growth in the region.
The global acoustic wave sensor market in Europe is predicted to have healthy growth over the forecast period. The burgeoning use of such sensors in various applications like consumer electronics, industrial sector, healthcare, automotive, and aerospace is adding to the global acoustic wave sensor market growth in the region.
The global acoustic wave sensor market in the RoW is predicted to have sound growth over the forecast period.
Key Players
Leading players profiled in the global acoustic wave sensor market report include H. Heinz Meßwiderstände GmbH (Germany), Hawk Measurement Systems (Australia), Pro-micron GmbH & Co. KG (Germany), Sensor Technology Ltd. (US), Transense Technologies plc (UK), NanoTemper Technologies GmbH (Germany), SENSeOR SAS (France), Qualtre Inc. (US), Vectron International Inc. (US), and Althen GmbH Mess- und Sensortechnik (Germany).
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