ID: MRFR/SEM/2876-HCR | February 2021 | Region: Global | 100 pages
The acoustic wave utilities are crucial material that generates the acoustic wave. The changes in features of the utilities can affect the velocity and amplitude of the acoustic wave. The acoustic wave sensors are much better than the conventional sensors. The two types of sensors are surface acoustic wave sensor and bulk acoustic wave sensor. The acoustic wave sensor applications help in the passive operation, wireless operation and less response time. Also, acoustic wave sensing is always accurate, versatile sensing, low-cost sensing and high response.
The Surface Acoustic Wave Sensor Market is witnessing a high growth rate recently. The requirement for security and surveillance systems is raising the demand for Acoustic Wave Technology Sensors. During the forecast period 2023, the market value of Global Acoustic Wave Sensor Market is projected as USD 895 million. Also, the Acoustic Wave Sensor Market growth is estimated as 11%. There are plenty of end-users and market drivers for this market that will continue to fuel demand in the forecast period.
Covid 19 has adverse effects on several global markets. The acoustic wave sensor market is also affected due to the pandemic. The manufacturing process has been disturbed due to ongoing restrictions. Also, the number of end-users requiring wave sensor has reduced during this season. Due to this, the market trend is showing a declining figure. There is a disruption in both the demand and supply chain of the market.
However, the manufacturing process is soon resuming. It offers exceptional scope for the acoustic wave sensor market in the upcoming years. The requirement for acoustic wave sensor in the surveillance field will increase further. It will fuel the market growth post covid 19. Also, there are tons of other market opportunities available for the market in the forecast period. Moreover, the key players of the acoustic wave sensor market are implanting new strategies to develop the market. Even though, covid 19 has caused adverse effects the global acoustic wave sensor market is recovering.
The end-users of the acoustic wave sensor market are demanding more of the temperature sensors. It will ultimately help in the acoustic wave sensor market growth. The acoustic temperature sensor is a crucial technology. Also, their requirement is essential in the chemical, automotive and medical industry. The benefits of this technology are high security, low replacement costs and less wear and tear cost. These benefits fuel the overall growth of the acoustic wave sensor Industry.
Moreover, there is high demand for SAW-based temperature technology in several industries. It is a technology that provides a high response rate, accuracy and versatile temperature range. The adoption of SAW bases technology is happening at an exponential pace. The adoption of SAW-based temperature sensor by end-users is a crucial driver for the acoustic wave sensor market. The industries using this technology can sense temperature with accuracy and durability. Also, the high demand for SAW temperature sensor for air temperature management, cylinder heat temperature management and coolant temperature contributes to the growth of the acoustic wave sensor market. Further, the growing need for security and surveillance in the automotive industry is another significant driver for the acoustic wave sensor market.
The automotive industry is well known for its technological advancements. Also, the industry makes tons of innovation in safety systems. These systems are efficient and high end in nature. The industry is exposed to the use of high-end safety technologies. It enables the industry to reduce accidents. The acoustic wave sensor market plays a crucial role in this category. It makes the vehicles safe for the users. The use of acoustic wave sensors in the automotive industry will grow further in the forecast period. It offers an exceptional growth opportunity for the overall acoustic wave sensor market.
Furthermore, governmental awareness for vehicle safety is high. In the upcoming years, the rules for vehicle safety are going to be stringent. Also, the government will support the use of acoustic wave sensor in vehicles. It will offer a wide-growth opportunity for the overall market. Moreover, the demand for a micro electromagnetic sensor is high in the upcoming years. These technologies use acoustic wave sensors. The MEMS are a crucial part of the automotive industry. Also, they reduce cost and increase safety in vehicles. The growing need for MEM will have a positive impact on the acoustic wave market growth.
There are some technical issues in the wave sensor market. High energy consumption, sensitivity, compactness are some of the drawbacks of using this technology. The wave technologies built on metal oxide semiconductor consume more power than electrochemical systems. Also, the sensors vary in terms of temperature sensitivity. It is another limitation of this technology. The size of the acoustic sensor is a major problem for this market. Further, high energy consumption results in inexpensive electricity costs. The versatile density causes plenty of disruption in the application. All these factors hamper the overall growth of this market. Due to these technical issues, many end-users reduce their demand. It restricts the overall growth of the market.
The acoustic wave sensor working principle is unique. During the application, the sensors are exposed to high heat, radiation and high electromagnetic field. Besides, these the sensors are used in automotive, medical and other markets. Due to technological advancements, these SAW sensors are replaced by another sensor in the market. The SAW sensors are a critical technology that uses the acoustic wave sensor. The replacement of these sensors is a significant challenge in this market. It will reduce the demand for acoustic wave sensors in the upcoming years. This major challenge can affect the market demand in the forecast period.
The acoustic wave sensor market is witnessing a steady flow of demand during the forecast year. The market growth opportunities are higher for this market. The crucial drivers will intensify and fuel the overall demand in 2023. The high requirement of acoustic wave sensor material in the SAW market enables more growth. Also, the high demand in the automotive industry will positively affect the market in the forecast period. However, certain restraints will hamper the growth. The high cost, sensitivity and compact size of acoustic wave technology sensors are significant issues in this market. Therefore, the overall growth seems uniform with some limitations.
North America holds the largest acoustic wave sensor market share. The region is well known for its highly developed acoustic wave sensor companies. Some of the reasons for high growth are low manufacture cost and technological developments. The military sector in the regions demands more acoustic wave sensor technology.
The high demand from the defence sector results in massive growth. Also, the demand from the automotive industry is a crucial driver in this region. The well-established key players of this market are taking plenty of measures to enhance the market. The smooth market structure continuously fuels the overall growth of the acoustic eave sensor market in North America.
By market type
The acoustic wave sensor market is segmented into three regions Asia Pacific, North America and Europe. The technological advancement in North America is the crucial reason for high market growth. The passive and wireless nature of the technology is offering immense demand. During the forecast period, Asia Pacific will record the fastest growth rate. The requirement for acoustic eave sensor is high in Japan, India and China. The large manufacturers in the Asia Pacific contribute to the overall market growth. Europe is witnessing massive growth due to the demand from the automotive industry. Also, the surface acoustic wave sensor manufacturers are experiencing high profits. The government initiative for vehicle safety is propelling the overall market demand.
The acoustic wave market is getting highly competitive. The entry of new market players and advancement is the major reason for competition. The key players are implementing new market strategies to enhance the global acoustic wave market.
The key players of the acoustic wave sensor market are
Frequently Asked Questions (FAQ) :
The market value of acoustic wave sensors in 2023 is USD 895 million.
The demand from end verticals and adoption of SAW is the curricula market drivers.
The market growth is 11% for the forecast year 2023.