According to estimates, the market for acoustic wave sensors will reach US$ 2,438 million by 2032, up from US$ 850 million in 2022, and will grow at a CAGR of 11.1% over the projected period.
One of the factors propelling the expansion of the market for acoustic wave sensors is the introduction of new technologies like microtechnology and micro-electro-mechanical systems.
Additionally, one of the factors driving the growth of the Acoustic Wave Sensor market is the benefits of Acoustic Wave Sensor devices, such as high resolution, inherent high sensitivity, high stability, and capacity to function effectively in low frequencies.
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Additionally, the development of technology will increase demand for acoustic wave sensors across a range of industries, including the consumer electronics and automotive sectors. Acoustic wave sensors, which operate on the notion of altering surface acoustic waves to sense the physical phenomenon, are regarded as a crucial subset of micro-electromechanical systems.
Acoustic wave sensors are utilized in a variety of industries, including signal processing, sensing, and others, to convert electrical signals into mechanical waves. Due to their passive nature, wireless operation, and quicker response time, the Acoustic Wave Sensors are projected to displace the current product in a number of application categories.
Acoustic Wave Sensors: Drivers and Challenges
Drivers
The technological advancement in sensing technologies and the need to replace older products are the significant factors driving the growth of the Acoustic Wave Sensors market.
Moreover, the increasing need and growing adoption of Acoustic Wave Sensors by various industries such as automobile, military, healthcare, and others is the major factor that is driving the growth of the Acoustic Wave Sensors market.
Apart from this, the increasing demand for Acoustic Wave Sensors for security and surveillance in various industry verticals is fueling the growth of the Acoustic Wave Sensors market.
The low manufacturing cost and technological advantages of Acoustic Wave Sensors over conventional products are the factors that are supporting the growing demand for Acoustic Wave Sensors.
Challenges
As Acoustic Wave Sensors require several processes and technologies, therefore, the compatibility of Acoustic Wave Sensors with other products is one of the major challenges which may hinder the growth of the Acoustic Wave Sensors market.
Also, the replacement of Sensors in conventional technology with Acoustic Wave sensors is the major challenge in the Acoustic Wave Sensor market.
Key Contracts
In September 2015, SENSeOR and FEMTO-ST inaugurated a common research laboratory called Physical Acoustics, which is dedicated to research in the field of Surface and Bulk Acoustic Waves, Sensors, and Sensing Systems.
In May 2015, General Electric and Transense Technologies entered into a partnership in order to develop new instrumentation applications by utilizing their wireless, passive surface acoustic wave measurement technologies.
Key players
The Prominent players in the Acoustic Wave Sensors market are Honeywell International Inc., Seimens AG, Electronic Sensor Technology, General Electric, CTS Corporation, Transense Technology plc, AVX Corporation, Kyocera Corporation, SENSeOR Sas, Vectron International Inc., and others.
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Regional analysis for the Acoustic Wave Sensors Market includes the development of these systems in the following regions
- North America
- US & Canada
- Latin America
- Brazil, Mexico, and Others
- Western Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Nordic
- BENELUX
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific (excluding Japan)
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
Acoustic Wave Sensors Market: Segmentation
Segmentation of Acoustic Wave Sensors on the basis of propagation mode:
- Surface Acoustic Wave Sensor
- Rayleigh Surface Wave Sensors
- Shear-horizontal Surface Acoustic Wave Sensors
- Bulk Acoustic Wave Sensors
- Thickness shear mode resonators
- Shear-horizontal Acoustic plate mode sensors
Segmentation of Acoustic Wave Sensors on the basis of Vertical:
- Military
- Automobile
- Industrial
- Healthcare
- Food and Beverages
- Others
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