The global acoustic wave sensor market is anticipated to witness growth owing to increasing number of applications across different industry verticals. The competitive advantage of these devices over other technologies may drive demand. Even though temperature, pressure, torque, and viscosity products have reached complete commercialization, more new applications in the future may drive the acoustic wave sensor market. They are anticipated to replace conventional products for verity of application sectors owing to its passive nature, wireless operation, and lesser response time. Increasing adoption in many application segments may drive demand over the forecast period demand. Technological advancement may propel demand especially in medical, consumer electronics, and automobile segment.
Penetration of Micro Electro Mechanical System (MEMS) technology is expected to be a major driver over the forecast period. Development of new technology such as nanotechnology and microtechnology will offer opportunities such as low power consumption, miniaturization, and mass production. Low manufacturing cost over the forecast period may boost the demand among the various application segments. Low mass sensitivity may hinder revenue growth over the next seven years. Compatibility may hinder the demand as it requires several processes and technologies.
The industry can be segmented based on technology into Bulk Acoustic Wave (BAW) and Surface Acoustic Wave (SAW). SAW may show higher growth over the BAW as it is most commonly used for process monitoring applications such as paper, pulp, oil and gas, and petroleum. SAW is generated in Si-based microstructures that are anticipated to be helpful in the development of smarter devices. SAW may gain increase adoption in the military, communication, safety monitoring, and industries application.
The acoustic wave sensor market can also be segment based on application into automobile, industrial, defense, healthcare, and consumer electronics. Industrial and automobile sectors are anticipated to be major application segments over the forecast period. The automobile segment is anticipated to show growth owing to increasing applications such as torque measurement, tire pressure monitoring, and emission control. In industrial and environmental segment acoustic sensors are used for combustion emission monitoring, workplace monitoring and water quality management. Healthcare applications include point of care diagnostics and drug discovery & development.
Defense applications include chemical agent detectors and bioagent detectors. Acoustic wave sensor market can also be classified based on sensing parameter into temperature, pressure, viscosity, humidity, mass, torque, and chemical vapor. Pressure and temperature variants are increasingly being used in the industrial and automobile segment. North America and Europe are expected to show significant growth over the forecast period owing to safety-related mandate for the automobile industry. Asia-pacific is anticipated to be a key regional market for acoustic wave sensor over the next seven years owing to presence of emerging economies such as China, India, and Japan and emergence of large number of manufacturing industries in the region. Europe may see a surge in demand owing to increasing use of the sensors in applications such as aerospace, automotive, healthcare, industrial sector, and consumer electronics.
Key players include Honeywell International Inc., Burkert, Siemens AG, Electronic Sensor Technology Inc., GE Sensing Inc., Heinz H., IntelliSAW Inc., CTS Corporation, Pro-micron, Vectron International Murata Manufacturing Co. Ltd., Mercury United Electronics, Panasonic Industrial solution, RF SAW Inc., NanoTemper Technologies GmbH, Boston Piezo Optics, Northrop Grumman Inc., Sensaction, Transense Technology plc., Vectron International Inc. In October 2014, NanoTemper Technologies GmbH acquired SAW Instruments to strengthen its technological capability.
In March 2015, Translogik, tire management solution division of Transverse Technologies plc signed an agreement to supply tire inspection probe to Rema Tip Top Holding. Sensor Technology offers various products using acoustic wave technology such as TorqSense RWt410/420, RWT450/460, and RWT430/440. In December 2012, CTC Corporation announced the acquisition of D&R Technology, which manufacturers custom-designed sensors, electromechanical assemblies, and switches primarily serving the automotive light vehicle market. CTS Corporation serves various industries including automotive, communication, medical, computer, defense & aerospace, and industrial.
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The recent COVID-19 pandemic that has been ravaging numerous countries across the globe has adversely affected the overall sensor, control, and automation industry. While the capital investments in the automation sector have been lethargic before the pandemic, they are expected to be put on hold or postponed for at least a year. However, the recent standstill in industrial manufacturing and production is anticipated to act as a wake-up call for the manufacturing sector on its reliance on human labor. This, in turn, is expected to highlight the advantages of robotics and automation helping a greater adoption in the post-pandemic period. As IoT, industrial automation, and digitalization are expected to become increasingly relevant to post-pandemic Tier 1 manufacturers, it may eventually turn into an opportunity especially in evolving supply chains. The report will account for Covid19 as a key market contributor.