The global acoustic wave sensor market is projected to grow at a CAGR of 16.26% to reach US$2,400.540 million by 2026, from US$836.174 million in 2019
Acoustic waves are mechanical and longitudinal waves that result from an oscillation of pressure that travels through a solid, liquid, or gas in a wave pattern. They are a category of longitudinal waves that propagate by the means of compression and decompression through a medium (usually air). These waves travel at the speed of sound and the vibrations in these waves occur in the direction in which the wave travels.
These waves show different wave characteristics like diffraction, interference, reflection, etc., except polarization. Polarization is not possible in these waves because the vibrations are only in the direction in which the wave travels. The devices used to measure these acoustic waves are known as Acoustic wave sensors.
The growing use of acoustic wave sensors in various sectors of the industry and the development in acoustic wave sensors technology will drive its growth in the forecast period. The growing demand for acoustic wave sensor-based surface acoustic wave sensors from the automotive industry owing to its various application such as tire pressure monitoring systems, electronic power steering, oil conditioning monitoring, and combustion engine monitoring. The sensors also include the overall identification of moving objects and parts, which also contains the wireless measuring of pressure and temperature of various automobiles tires. These sensor systems are also able to work in harsh environments and can withstand high temperatures. Owing to their characteristics such as less weight and smaller size, wireless access, economical, less power supply operation, greater reliability, eco-friendly construction, and low-cost volume manufacturing using standardized processes, these sensors are a favorable choice in the automotive industry. With the increasing demand and sales of automobiles in various regions around the world, the global acoustic market is expected to grow during the forecast period.
One of the major reasons for the growth of this industry is the lower manufacturing cost and its wireless operation which lead to a lot of new entrants entering this industrial production which overall increases the market growth of this industry. Also, wireless operation enhances the portability of this device and can be used on a larger scale.
The acoustic wave sensor-based gas sensors have a growing demand but at the same time, they face certain issues such as high energy consumption, higher sensitivity to environmental factors, and the size of the sensor, which play a huge part in portability.
The COVID-19 pandemic has had a great impact on the world as a whole and has led to economic breakdown and loss of life. The impact of COVID-19 on the global acoustic wave sensor market has been negative as due to the lockdown and travel and trade restrictions imposed by the governments, worldwide the manufacturing unit was forced to be shut due to which the production of acoustic wave sensors saw a sharp decline. The pandemic has disrupted the supply chain and decreased sales of acoustic wave sensors accounting for a negative impact on the industry. Furthermore, the end-user industries were forced to limit their production capacity, which impacted the demand for these sensors which overall impacted this industry. Also, these sensors being a vital element in the automotive industry, due to the pandemic the automotive industry was hugely hit leading to the impact on the acoustic wave sensor market.
|Market size value in 2019||US$836.174 million|
|Market size value in 2026||US$2,400.540 million|
|Growth Rate||CAGR of 16.26% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Propagation, End-Use Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Hawk Measurement Systems, NanoTemper technologies GmbH, Pro-micron GmbH, Siemens, Transense|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the acoustic wave sensor market size by 2026?
A1. The global acoustic wave sensor market is projected to reach a market size of US$2,400.540 million by 2026.
Q2. What is the size of the global acoustic wave sensor market?
A2. Acoustic Wave Sensor Market was valued at US$836.174 million in 2019.
Q3. What are the growth prospects for the acoustic wave sensor market?
A3. The acoustic wave sensor market is projected to grow at a CAGR of 16.26% over the forecast period.
Q4. What factors are anticipated to drive the acoustic wave sensor market?
A4. One of the major reasons for the growth of the acoustic wave sensor market is the lower manufacturing cost and its wireless operation which lead to a lot of new entrants entering this industrial production.
Q5. How is the global acoustic wave sensor market segmented?
A5. The global acoustic wave sensor market has been segmented by propagation, end-use industry, and geography.