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    Acoustic Wave Sensor Market Report

    Acoustic Wave Sensor Market Report
    Report code - SR1606 Delivery - 2 Weeks
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    Acoustic Wave Sensor Market Size, Share, Trend, Forecast, & Industry Analysis: 2021-20 See more...

    Impact of COVID-19 on Acoustic Wave Sensor Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Acoustic Wave Sensor Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    What is 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.

    The Acoustic Wave Sensor Market is estimated to grow from USD 585.6 million in 2020 to USD 1,076.0 million by 2026 at a healthy CAGR of 10.9% during the forecast period.

    Acoustic Wave Sensor Market- Research Scope

    Base Year of Study

    2020

    Trend Period

    2015-2019

    Forecast Period

    2021-2026

    Market Size in 2020

    US$ 585.6 million

    Market Size in 2026

    US$ 1,076.0 million

    Market Growth (2021-2026)

    10.9% CAGR

     

    Acoustic Wave Sensor Market Size, 2020-2026 (USD Million)

    Acoustic-Wave-Sensor-Market-Forecast

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    Market Drivers

    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 Analysis

    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.

    Segments' Analysis

    Type Trends

    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.

    Regional Trends

    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.

    Critical Questions Answered in the Report

    This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global acoustic wave sensor market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026. Following are the critical questions answered in the report.

    • What are the key trends in the acoustic wave sensor market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
    • What is the impact of COVID-19 on the acoustic wave sensor market?
    • What are the key strategies adopted by the major vendors to lead in the acoustic wave sensor market?
    • What is the market share of the top vendors?

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    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)

    Target Audience

    The target audience of Acoustic Wave Sensor Market includes-

    • Acoustic Wave Sensor Vendors
    • Acoustic Wave Sensor Manufacturers
    • Acoustic Wave Sensor Distributors
    • Organizations
    • Government Bodies.

    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 at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The acoustic wave sensor market is expected to witness an impressive growth of 10.9% CAGR in the coming years.

    Broadcom (US), TAIYO YUDEN (Japan), Teledyne, API Technologies, Vectron, Boston Piezo-Optics, Honeywell, Kyocera (Japan), Murata (Japan), Panasonic (Japan) are among the key players in the acoustic wave sensor market.

    The acoustic wave sensor market size is expected to reach USD 1,076.0 million in the foreseeable future.

    The surface acoustic wave sensor segment accounted for the largest share in the acoustic wave sensor market in 2020.

    Asia-pacific is expected to grow at the highest CAGR in the acoustic wave sensor market in the next five years.

    Acoustic Wave Sensor Vendors, Acoustic Wave Sensor Manufacturers, Acoustic Wave Sensor Distributors, Organizations, Government Bodies are the target audience in the acoustic wave sensor market.

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