The surface acoustic wave sensors market is expected to reach a value of USD 5. 62 billion by 2026, registering a CAGR of 12. 04%, during the forecast period (2021-2026). Due to their small size, rugged nature, economical to produce, stability in operation, and having applications across various end-user industries, the surface acoustic wave sensors make them an increasingly adopted sensor technology during the forecast period.
New York, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Surface Acoustic Wave Sensors Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06192761/?utm_source=GNW
Various characteristics of the wireless and passive nature of these surface acoustic wave sensors are the major driving factor for the increased applications of these sensors. These characteristics include no power is needed to be applied separately to these sensors, as they get their energy requirement fulfilled from interrogating radio frequency (RF) pulse to excite the surface acoustic wave (SAW) and transmit its response.
Surface acoustic wave pressure type devices being passive in nature (no external power requirement) opens up an enormous potential to be used in the smallest of enclosures and, with their remote sensing abilities, gives them an edge over other sensing devices. These sensors are now extensively being used in the automotive industry to monitor the tyre pressure and give information to the driver in the cabin.
The wireless nature of these sensors provides them the ability to measure various parameters, such as pressure, torque, and temperature on rotating components, with simplicity.
These (SAW) Surface Acoustic Wave Sensors are also well protected from the electromagnetic interference that occurs in the surrounding area of any industrial equipment, such as motors and high-voltage lines. Therefore, being wireless and passive in nature, these sensors are safer, reliable, and suitable for power equipment.
With advancements in the communication sector, SAW and bulk-acoustic-wave (BAW) resonators, filters, oscillators, and delay lines have gained traction. Apart from being passive and wirelessly interrogated, SAW sensors are competitively priced, intrinsically rugged, highly responsive, and intrinsically reliable.
In the overall surface acoustic wave technology, SAW and BAW are substitutes and complementary technologies. SAW components, such as filters, can be manufactured to about 2.0 or 2.5 GHz before the SAW transducers’ dimensions become unmanageably small. On the other hand, BAW components are sometimes known as “high-frequency SAWs” and can be used to 2.7 GHz and beyond for filtering, delay lines, and other functions. In applications like Long Term Evolution (LTE) wireless systems, SAW and BAW filters both play significant roles, i.e., at the lower- and higher-frequency bands, respectively.
Key Market Trends
Automobile Segment accounts for a Significant Share
The acoustic wave sensors are witnessing increasing demand in the automotive sector owing to their various application such as tire pressure monitoring systems, electronic power steering, combustion engine monitoring, and oil conditioning monitoring in automobiles.
One of the most important applications of surface acoustic wave sensors is the identification of moving parts and objects, which includes the wireless measuring of temperature and pressure of various automobiles tires such as cars, trucks, buses, etc.; moreover, it also does wireless monitoring of subway net and railway vehicles.
These sensor systems are also able to work in harsh environments and are able to withstand high temperatures. Owing to their small size and less weight, the ability of wireless access, economical, power-supply-less operation, greater reliability, environmentally friendly construction, and low-cost volume manufacturing using standardized processes make these sensors a favorable choice in the automotive industry.
According to the American Automotive Policy Council, the exports from the automotive sector were valued at USD 692 billion over the past five years. The automotive industry alone contributes to 3% of the region’s GDP, which effectively contributes to the growth of the market studied.
The increasing need and demand for safety and security in the automotive is playing a significant role in the growth of SAW sensors in the studied segment. According to the WHO, more than 1.35 million people are killed in road accidents every year worldwide. Hence, these sensors have become a significant component in improving the vehicles’ safety features, hold significant potential for the future.
Additionally, the growing adoption of autonomous vehicles worldwide is fueling the demand for these sensors in the automotive industry. The autonomous vehicle will have more sensors per vehicle, expanding SAW sensors’ scope in the sector. According to UBS, the global market for sensor semiconductors in autonomous vehicles is expected to reach USD 30 billion by 2030. Such high growth in automotive trends may lead to potential growth for the SAW sensors for automotive applications during the forecast period.
With the increasing sales of automobiles in various regions of the world, the market is expected to witness further growth during the forecast period. Transense designed a SAW torque sensor technology for electric power-assisted steering (EPAS) in specialized vehicles in a partnership with McLaren for Motorsport torque-sensing products.
North America to Witness Significant Growth
The United States is a major market for surface acoustic wave sensors market in the North American region, followed by Canada. The North American market is expected to witness increasing demand owing to the increased usage of these sensors in various applications and owing to the safety-related mandate for the automobile industry.
With the increasing technological advancements in the North American region, many industries are expected to take advantage of these sensors. The rapid surge in demand for these sensors is due to the increasing use of these sensors in multiple applications such as automotive, aerospace, healthcare, consumer electronics, and the industrial sector.
The regional market is also growing owing to the growing innovation activities undertaken by the government and research institutions. Market scenarios like the recent COVID-19 pandemic have further fueled the support and demand for these researches.
For instance, in September 2020, US-based Sandia National Laboratories have made significant progress toward developing an integrated nucleic acid amplification system for Autonomous Medical Devices Incorporated (AMDIs) Optikus handheld diagnostic devices. In this effort, they developed a set of loop-mediated isothermal amplification (LAMP) primers for SARS-CoV-2 and then demonstrated amplification directly on the SAW sensor.
The regional Aerospace and Defense industry is also becoming a significant investor in SAW technology worldwide. Globally, the United States is expected to lead the way in electronic warfare spending; also, the country has the highest military spending globally, making it a lucrative end-user industry for the SAW sensor market.
According to SIPRI reports, In 2020, US military expenditure reached an estimated USD 778 billion, representing an increase of 4.4% over 2019. As the world’s largest military spender, the USA accounted for 39% of total military expenditure in 2020. This was the third consecutive year of growth in US military spending, following seven years of continuous reductions.
Moreover, North America is also one of the most technologically advanced application markets for these sensors owing to the presence of many prominent system suppliers, sensor manufacturers, and large semiconductor companies. The enormous size of the region, with the affluence of its consumers, and the highly competitive nature of the medical equipment manufacturers make this region a lucrative market for surface acoustic wave sensor manufacturers.
The surface acoustic wave sensors market is moderately competitive owing to the presence of many small and large players operating in the domestic as well as in the international markets. The market appears to be moderately concentrated, with the key players adopting strategies like product innovation and mergers and acquisitions. Some of the major players in the market are Honeywell International Inc., Murata Manufacturing Co., Ltd., AVX Corporation, CTS Corporation, among others.
December 2021 - Microchip Technology Inc. announced a significant expansion of its Gallium Nitride (GaN) Radio Frequency (RF) power device portfolio with new MMICs and discrete transistors that cover frequencies up to 20 gigahertz (GHz). The company’s SAW sensors and microelectromechanical systems (MEMS) oscillators and highly integrated modules combine microcontrollers (MCUs) with RF transceivers (Wi-Fi MCUs) that support major short-range wireless communications protocols from Bluetooth and Wi-Fi to LoRa.
June 2021 - Texas Instruments (TI) introduced the first devices in a new family of humidity sensors that provide lower power consumption and built-in sensing elements protection. These can help create industrial and automotive systems that withstand potential damage caused by moisture and react as needed to change water vapor conditions over time.
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