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(IT-NEWSWIRE.COM, February 28, 2020 ) According to the new research report, "Acoustic Wave Sensor Market by Type (surface and bulk); Device (resonator and delay line); Sensing parameters (temperature, pressure and humidity); Vertical (military, automotive and industrial) and Geography (North America and APAC) - Global Forecast to 2025", is expected to grow from USD 0.4 billion in 2016 to USD 1.1 billion by 2025; it is estimated to grow at a CAGR of 10.7% during 2017–2025. Growing concern toward security and surveillance, increasing demand for surface acoustic waves (SAW) based temperature sensors across various industries due to their various benefits such as accuracy, wide temperature sensing range, fast response rate, low cost, repeatability and microelectromechanical sensor (MEMS) technology are some of the major factors fueling the growth of this market.
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Driver: High demand for SAW based temperature sensors among industrial end users
The continuous demand for temperature sensors from the industry end users is expected to fuel the growth of the acoustic wave based temperature sensor market. Temperature sensor products are increasingly used by various industry end users to integrate sensing technologies in their products such as automotive, medical, industrial, and chemical industries. This helps to reduce replacement costs of the components, reduce wear and tear of the products, increase the safety of the products, and meet stringent reliability requirements.
There is a growing demand for SAW based temperature sensors across various industries owing to their various benefits such as accuracy, wide temperature range, fast response rate, low cost, and repeatability. Since temperature measurement is the most common parameter in many industries, industrial end users are adopting the temperature sensor technology that provides durable and accurate temperature measurements and defects if any.
For instance, there is a growing demand for accurate SAW based temperature sensors system for applications such as engine coolant temperature management, outside air temperature management, active in-vehicle temperature management, and cylinder heat temperature management in the automobile industry. Moreover, advanced temperature sensors are increasingly being preferred by various end-user industries.
Acoustic wave sensor market in APAC to grow at highest CAGR during forecast period
The acoustic wave sensor market in APAC is expected to grow at the highest CAGR during the forecast period. The region’s huge population, high industrial growth in developing countries like China and Japan, government initiatives and extensive industrial base are the major factors that make APAC a dynamic region for acoustic wave sensor, with Japan and China being the major contributors.
Key players in the market include Althen GmbH (Germany), NanoTemper Technologies GmbH (Germany), H. Heinz Meßwiderstände GmbH (Germany), Transense Technologies plc (UK), Pro-micron (Germany), Vectron International Inc. (US), Qualtre Inc. (US), Senseor SAS (FRANCE), Sensor Technology Ltd. (US), and Hawk Measurement (Australia). These players are increasingly undertaking product launches, mergers, and acquisitions to increase their market shares.
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raviraj.tak@marketsandmarkets.com
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