The global acoustic wave sensors market is projected to reach USD 2,729.5 million by 2033 with CAGR of 11.1%. The market was estimated at USD 932.9 million in 2023.
Penetration of nanotechnology and Micro Electro Mechanical Systems (MEMS) are notably driving the acoustic wave sensors market growth. These technologies enhances sensors miniaturization and performance, thereby driving acoustic wave sensors market growth.
Conversely, acoustic wave sensors market players looking into untapped potential and development in technologies, especially in the automobile segment, medical, and consumer electronics, among other factors. Presenting lucrative opportunities for the acoustic wave sensors market share.
| Report Attribute | Details |
|---|---|
| Acoustic Wave Sensors Market Value (2023) | USD 932.9 million |
| Acoustic Wave Sensors Market Anticipated Value (2033) | USD 2,729.5 million |
| CAGR (2023 to 2033) | 11.1% |
| Category | Propagation Mode |
|---|---|
| Leading Segment | Rayleigh Surface Wave Sensors |
| Market Share | 31.2% |
| Category | End User |
|---|---|
| Leading Segment | Industrial |
| Market Share | 29.3% |
Surveillance and security in various industries are likely to surge an increasing demand for acoustic wave sensors. Furthermore, the portability of acoustic wave sensors is enhanced through wireless operation.
Low manufacturing costs and technological developments over conventional products are expected to be the primary acoustic wave sensors market. Further, these sensors have ability operate in rough environments and withstand high temperatures. This is projected to fuel the demand for acoustic wave sensors remarkably among end users.
Majority of end user industries prefer cutting-edge temperature sensors. For instance, the automobile industry projects rising demand for accurate SAW-based temperature sensor systems for applications. These applications includes temperature management in engine coolant, cylinder, and vehicle, among others.
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Temperature sensors products are experiencing continuous demand by various end-user industry. Industries incorporate these sensors in their products to reduce costs associated with components replacements and for regulatory adherence. IT also minimizes wear & tear and improves products safety. This is estimated to drive the acoustic wave sensors market growth.
Several benefits, such as a wide temperature range, fast response rate, repeatability, and low cost, increase the demand for SAW-based temperature sensors. This is likely to be a key driver for the acoustic wave sensors market share.
New electric and hybrid vehicles are incorporated with an acoustic warning system to address the issues in traffic management. This is expected to propel market growth in the forecast period. Addition to this, proliferation of base station and smartphones are estimated to drive market growth notably. Key consumer of acoustic wave sensors is telecommunication industry.
These sensors have lesser response time, passive nature, and wireless operations. These is expected to fuel the industry expansion. The acoustic wave sensors possess an ability to convert an electrical signal into mechanical waves. This boost the adoption these sensors in various applications such as sensing and signal processing.
Energy consumption and sensitivity causing technical problems are key drawbacks that are likely to obstruct the acoustic wave sensors market share. Furthermore, the deployment of other sensors in conventional applications instead of saw-based sensors is further anticipated to challenge the growth of the acoustic wave sensors market.
Novel Applications and Advancements
Development of sensor technology and its growing applications in automotive sector is driving the market demand. This sensors integration makes the vehicles safer for travelers. This is expected to create favorable environment for the acoustic wave sensors market.
Already Fitted in Gadgets
Microphones/speakers are already installed in telephone devices and other similar gadgets. This is likely to increase the adoption of acoustic wave sensor applications, which contrives a relatively low deployment cost.
North America, with a significant 31.6% share, is the leading acoustic wave sensors market. This is attributed to the growing penetration of autonomous cars, surging a market avenue for retro-reflective sensors required in parking assistance systems.
The development of mechanically robust, flexible, and adaptive sensing SAW devices is being focused on by prominent market players. Additionally, the healthcare industry surges a growing demand for ultrasonic sensors due to their internal capability to examine the human body.
Governments of this region are allocating funds to aid in the advancement of new technologies. Moreover, the acoustic wave sensors market in the United States and Canada is likely to experience growth due to the growing adoption of ultrasonic sensors in robotics applications and industrial automation.
With a revenue share of 23.8%, Europe is the second-leading in the acoustic wave sensors market. This is owing to the rising integration of SAW-gas sensors in automobile applications and the rapid deployment of advanced technologies.
There is a rising adoption in the production of touch-based devices and their advantages, like easy fabrication and low cost, in countries like the United Kingdom and Germany. This factor and increasing technological developments are anticipated to expand the acoustic wave sensors market size.
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Acoustic wave sensors have played a crucial role in reducing accidents and decreasing their impact. This makes the devices more popular in the automotive industry.
However, limited applications in various sectors create opportunities and space for improvement for the key market players. Start-up companies are, hence, involved in developing creative strategies to boost the acoustic wave sensors market growth.
Key manufactures are adopting advanced techniques for sensor production. These techniques include surface acoustic waves (SAW) and bulk acoustic waves (BAW). Through research and development activities, as well as the assistance of governmental funds, market players strive to generate newer developments in the devices for the acoustic wave sensors market growth.
Key Market Players of the Acoustic Wave Sensors Market:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 11.3% from 2023 to 2033 |
| The base year for estimation | 2022 |
| Historical data | 2018 to 2022 |
| Forecast period | 2023 to 2033 |
| Quantitative units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors And Trends, Pricing Analysis, |
| Segments Covered | Propagation Mode, End User, and Region. |
| Regional scope | North America; Western Europe, Eastern Europe, The Middle East and Africa, ASEAN, South Asia, Rest of Asia, Australia, and New Zealand |
| Country scope | United States, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, United Arab Emirates, Iran, South Africa |
| Key companies profiled | Honeywell International Inc.; Siemens AG; Electronic Sensor Technology; General Electric Company; CTS Corporation; Transense Technology Plc.; AVX Corporation; Kyocera Corporation; SENSeOR S.A.S; Vectron International Inc.; Microsemi; Qualtre Inc.; NanoTemper Technologies GmbH; Althen GmbH Mess-und Sensortechnik; pro-micron GmbH; H. Heinz Meßwiderstände GmbH; Hawk Measurement Systems; Abracon; A D METRO INC.; API Technologies Corp.; etc. |
| Customization scope | Free report customization (equivalent to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The market boosted at a CAGR of 3.1% from 2018 to 2022.
Through 2033, the market is to develop at a CAGR of 11.1%.
By 2033, the market is to have expanded to USD 2,729.5 million.
In 2023, the market is anticipated to reach a worth of USD 932.9 million.
North America leads the acoustic wave sensors market with an attractive 31.6% share.
Europe is the second-leading market, with a revenue share of 23.8%.
| Estimated Market Value (2022) | USD 1,804.5 Billion |
|---|---|
| Projected Market Value (2032) | USD 3,303.3 Billion |
| CAGR (2022 to 2032) | 6.2% |
| Market Value (2022) | USD 5,138.4 million |
|---|---|
| Market Value (2030) | USD 13,241.8 million |
| CAGR (2022 to 2030) | 12.0% |
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Acoustic Wave Sensors Market
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