NEW YORK, Aug 2, 2017 /PRNewswire/ -- "Global acoustic wave sensor market to exhibit significant growth between 2017 and 2023"
The acoustic wave sensor market is expected to grow at a CAGR of 10.7% between 2017 and 2023 to be worth USD 868.3 Million by 2023. The key driving factor for the growth of the acoustic wave sensor market is the growth of the SAW-based temperature sensors across various verticals due to their benefits such as accuracy, wide sensing temperature range, fast response rate, and low cost. However, the replacement of SAW-based sensors by other sensors in conventional applications is the major challenge in the market.
"Surface acoustic wave (SAW) sensors to dominate acoustic wave sensor market during forecast period"
SAW sensors held the largest size of the acoustic wave sensor market in 2016. SAW sensors are simple, rugged devices, which consist of a piezoelectric substrate in between two patterned electrodes to introduce and sense acoustic waves. SAW sensors are used to sense any change in frequency of waves associated with various parameters such as temperature, pressure, torque, and chemical vapors. SAW sensors are expected to hold the largest size of the acoustic wave sensor market by 2023due to the increasing demand of these sensors on the back of their capability to sense various parameters such as temperature, pressure, and humidity.
"Resonators to hold a major share of the acoustic wave sensor market based on device by 2023"
The market for the resonators is expected to grow at the highest CAGR between 2017 and 2023. SAW resonators can be visualized similar to crystal resonators. In SAW resonators, the generated acoustic wave is restricted to one surface of the piezoelectric substrate. SAW resonators are independent of the mass of the piezoelectric substrate and, therefore, are suitable for high-frequency applications. The high oscillation frequencies of resonators reduce the design cost and increase the simplicity of the resonators.
"Acoustic wave sensor market in APAC projected to grow at highest CAGR during forecast period"
The market in APAC is expected to exhibit the highest CAGR during the forecast period. The Asian markets, especially those in Japan, China, and India, are more likely to govern the acoustic wave sensor market in the coming years, in terms of adaptability and market size. India currently holds the largest share of the market in APAC owing to the higher adoption of acoustic wave sensors in various verticals such as food and beverages, and automotive, fueling the growth of the acoustic wave sensor market in this region.
The break-up of the profiles of primary participants for the report has been given below:
• By Company Type: Tier 1 = 45%, Tier 2 = 30%, and Tier 3 = 25%
• By Designation: C–Level Executives = 63% and Directors = 37%
• By Region: North America = 33%, Europe = 23%, APAC = 32%, and RoW = 12%
The key players operating in the acoustic wave sensor market include Vectron International Inc. (US), Qualtre, Inc. (US), SENSeOR (France), Sensor Technology Ltd. (US), NanoTemper Technologies GmbH (Germany), Althen GmbH Mess- und Sensortechnik (Germany), Transense Technologies plc (UK), pro-micron GmbH & Co. KG (Germany), H. Heinz Me•widerstände GmbH (Germany), and Hawk Measurement Systems (Australia).
The research report on the global acoustic wave sensor market covers the market on the basis of type, device, sensing parameter, vertical, and geography. The market based on type has been segmented into surface acoustic wave (SAW) sensors and bulk acoustic wave (BAW) sensors. On the basis of devices, the acoustic wave sensor market has been classified into resonators and delay lines. The market, on the basis of sensing parameter, has been segmented into temperature, pressure, viscosity, humidity, chemical vapors/gas, humidity, torque, mass, and others. Further, the acoustic wave sensor market, on the basis of vertical, has been segmented into military, automotive, industrial, healthcare, food and beverages, environment, and others. The report segments the market in four major regions, namely, North America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on type, devices, sensing parameter, vertical, and geography have been conducted to give an overall view of the acoustic wave sensor market.
The major drivers, restraints, opportunities, and challenges for the acoustic wave sensor market have been detailed in this report.
The report includes a detailed competitive landscape, along with key players, in-depth analysis, and revenue of the key players.
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