Acoustic Wave Sensor Market report is a comprehensive overview of the market’s situation thoroughly examined and compiled by Stratview Research. This new report provides past progress, current market conditions, and a future prospect from the year 2022 to 2028. It also offers accurate overview of the growth strategies, market size, mergers acquisitions, and upcoming products/services of leading key players in this market.
Market Insights
The report analyses the market thoroughly and collects data in order to offer reliable data to the users. The present report mentions that the Acoustic Wave Sensor Market is estimated to grow from USD 557.56 million in 2021 to USD 1154.1 million by 2028 at a healthy CAGR of 10.69% during the forecast period of 2022-2028.
The Acoustic Wave Sensor market is mainly driven by acoustic wave sensors’ benefits such as less response time, passive operation, and wireless nature. Surface acoustic wave-based temperature sensors provide higher accuracy, response rate, low cost, and a broad range of sensing temperatures, which is likely to bolster the market growth. Also, it exhibits higher sensitivity, compact structure, high stability, extremely small size, and low cost, thereby augmenting the market growth in the coming years. Moreover, growing demand for surface acoustic wave (SAW) based temperature sensors among industrial sectors as well as increasing concern toward security surveillance, further proliferates the market expansion.
Market Segments' Analysis
According to Stratview Research, the Acoustic Wave Sensor Market is segmented By Type (Surface Acoustic Wave Sensor, Bulk Acoustic Wave Sensor), By End Use (Automotive, Food and Beverages, Environmental, Healthcare, Others), and Region.
Based on type, the acoustic wave sensor market has been divided into surface acoustic wave sensors and bulk acoustic wave sensors. The surface acoustic wave sensor segment accounted for the largest market share in 2020. Surface acoustic wave (SAW) sensors are primarily used to sense the occurrence of any change in frequency of different parameters such as pressure, temperature, and chemical vapors, torque, among others.
By region, the North American Acoustic Wave Sensor market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The acoustic wave sensor market growth is mainly propelled by low manufacturing cost, technological developments, and the wireless passive nature of the products. Moreover, the usage of acoustic wave sensors in the military and industrial sectors further bolsters regional market growth.
The Asia-Pacific Acoustic Wave Sensor market is expected to grow at the highest CAGR during the review on account of the growth of the major end-use industries. This growth is mainly attributed to the growing consumption of acoustic wave sensors, mainly in the industrial automotive sectors in the countries of China, Japan, and India.
Top key vendors in the market:
The report mentions a list of key players in the Acoustic Wave Sensor Market. Some of them are mentioned below –
- Broadcom (US)
- TAIYO YUDEN (Japan)
- Teledyne
- API Technologies
- Vectron
- Boston Piezo-Optics
- Honeywell
- Kyocera (Japan)
- Murata (Japan)
- Panasonic (Japan)
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