Acoustic Wave Sensor Market Analysis | 2021-2028

Market Insights

"The global 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."

Would you like to get a free sample? Register Here

What is an acoustic wave sensor?

The acoustic wave utilities are vital material that generates the acoustic wave. The changes in features of the utilities can largely affect the velocity & amplitude of the acoustic wave. These sensors are much better in comparison to the traditional sensors. The acoustic wave sensor applications enable wireless operation, passive operation, and less response time. Also, acoustic wave sensing is always accurate, low-cost sensing, versatile sensing, and has a high response. An acoustic wave sensor uses piezoelectric material to produce an acoustic wave. The changes to the characteristics of the propagation path are likely to impact the velocity and amplitude of the wave as the acoustic wave is caused on the surface of the material.

Market Dynamics

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.

COVID-19 Impact

The outbreak of COVID-19 moderately affected the acoustic wave sensor industry. The manufacturing process has been disturbed mainly due to ongoing restrictions and limited workforce. Also, the number of end-users requiring wave sensor has significantly decreased during this season. Furthermore, there is a disruption in supply chain, thus affecting the market growth.

Key Players

Key players operating in the global acoustic wave sensor market are:

• Broadcom (US)
• TAIYO YUDEN (Japan)
• Teledyne
• API Technologies
• Vectron
• Boston Piezo-Optics
• Honeywell
• Kyocera (Japan)
• Murata (Japan)
• Panasonic (Japan)

Segment Analysis

Type Insights

"The surface acoustic wave sensor segment accounted for the largest market share."

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 2021. Surface acoustic wave (SAW) sensors are primarily used to sense the occurrence of any change in the frequency of different parameters such as pressure, temperature, and chemical vapors, torque, among others.

Regional Trends

"North America accounted for the largest market share."

By region, the North American Acoustic Wave Sensor market accounted for the largest share in 2021 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.

Would you like to get a free sample? Register Here

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com