Global Surface Acoustic Wave Sensors Market Grows at a Staggering CAGR of 11.52%

Introduction

Acoustic wave sensors utilize piezoelectric material to generate acoustic waves. The acoustic wave is produced on the material's surface, so modifications to the propagation channel's properties may impact the wave's amplitude and velocity. Acoustic wave sensors have an advantage over conventional sensors since they are passive, have a shorter response time, and are wireless. The acoustic wave sensor market may expand in the following years due to technological developments that could increase demand, notably in the consumer electronics and medical sectors, as well as the excellent potential for growth in the automobile industry.

Market Dynamics

Low Manufacturing Cost Drives the Global Market

The low cost of SAW devices and components during production is a significant growth driver of the industry under investigation. SAW components provide exceptional performance levels and unique characteristics not seen in electrical components. SAW components are usually less expensive than BAW devices, even though BAW devices can withstand greater frequencies and power levels. The SAW sensors can be used as disposable devices due to their tiny size and low cost, which are made possible by their lack of batteries and batch manufacturing.

Additional end-users have entered the market under investigation due to new conductive printing technologies that have made it possible to build customized SAW devices more quickly and affordably. Businesses also adopt piezoelectric on-insulator (POI) substrates to create low-cost products. Qualcomm, for instance, asserts that its ultra-saw RF Filter Technology surpasses competing filter technology while being significantly less expensive. Compared to a SAW filter on bulk material, a POI SAW filter has less loss and is less costly. More and more companies are developing SAW devices for cutting-edge sensing applications by employing low-cost custom SAW device manufacture.

Wireless and Passive Nature of Sensors Creates Tremendous Opportunities 

SAW sensors are becoming increasingly common in various applications due to their wireless and passive features. These characteristics also contribute to the portability and compact design of these sensors. The demand for wireless applications has grown significantly over the past few years as more and more sectors use wireless technologies. Due to their affordable production costs, usefulness as passive sensors, and wireless functionality, they have gained market share. The growth of RF communication has been one of the main factors in this. SAW devices can also enhance RF communication using complex RF communication strategies. SAW devices have been modulated in several methods, including frequency-modulated continuous wave and orthogonal frequency coding. The power transmission in the passive wireless SAW-based antenna sensor system has also gained market traction due to developments like the Internet of Things (IoT). IoT is already impacting home automation and energy management systems because many IoT sensors are still located in distant areas without easy access to power outlets, forcing them to run on batteries.

Regional Analysis 

Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 12.06% during the forecast period. The Asia-Pacific region is expected to develop significantly during the projected period due to its dominance in the global semiconductor manufacturing industry. Additionally, the area is a significant global producer of cutting-edge electronic devices, electric vehicles, and consumer electronics, making it an important global consumer of SAW sensors. Chinese vendors, who control the regional SAW industry, typically employ affordable SAW solutions to gain an advantage over rivals. American vendors, on the other hand, frequently choose innovative products. China's Haoda Electronics Co. Ltd. has benefited from support from Hubble. Haoda Electronics manufactures IF SAW filters, SAW resonators, duplexers, and other RF filters, among other products.

North America is expected to grow at a CAGR of 11.39%during the forecast period. North America is one of the top regions for invention and investment in the worldwide SWA sensor market due to the growing regional demand for and production of acoustic wave sensors. Due to the end-user industry's increased investments in cutting-edge technologies and the adoption of economic components, SAW sensors are used more frequently in the region. Additionally, the US has a competitive advantage in the market under investigation due to the location of the most important global market suppliers. Regarding product innovation and technological improvement, most of these local vendors are far ahead of their foreign competitors, which benefits the expansion of the regional and worldwide markets. The United States has a sizable global surface and acoustic wave sensors market.

Key Highlights

• The global surface acoustic wave sensors market was valued at USD 896.75 million in 2022. It is projected to reach USD 2,392.37 million by 2031, growing at a CAGR of 11.52% during the forecast period (2023-2031). 
• Based on sensing type, the global surface acoustic wave sensors market is bifurcated into pressure sensors, torque sensors, temperature sensors, humidity sensors, chemical sensors, and other sensors. The pressure sensors segment is the highest contributor to the market and is estimated to grow at a CAGR of 9.26% during the forecast period.
• Based on end-user industries, the global surface acoustic wave sensors market is bifurcated into automotive, aerospace and defense, consumer electronics, healthcare, industrial, and other end-user industries. The consumer electronics segment is the highest contributor to the market and is estimated to grow at a CAGR of 10.37% during the forecast period.
• Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 12.06% during the forecast period.

Competitive Players

Competitive Players

The global surface acoustic wave sensors market’s major key players are API Technologies Corp., Vectron International (Microchip Technology Inc.), AVX Corporation, Boston Piezo-optics Inc., Admetro, CTS Corporation, TDK Electronics AG, Honeywell International Inc., Teledyne Microwave Solutions, and Murata Manufacturing Co. Ltd.

Recent Developments

Market News

• In April 2022, Murata Manufacturing Co., Ltd. (hereinafter referred to as "Murata Manufacturing") was awarded the 2022 Commendation for Science and Technology (development category) by the Minister of Education, Culture, Sports, Science and Technology for developing surface acoustic wave components and an accompanying manufacturing method.
• In October 2022, KYOCERA AVX, designed to satisfy automotive industry demands for more robust component solutions, the new VCAS Series MLVs with FLEXITERM® technology was engineered to reliably withstand severe flexing, vibration, and temperature cycling, enabling up to 5mm of mechanical board flexure over 3,000 temperature cycles extending up to 150°C with zero board flex failures, including internal cracks and depanelization, and no significant changes to electrical characteristics.

Segmentation

Global Surface Acoustic Wave Sensors Market: Segmentation

By Sensing Type

• Pressure Sensors
• Torque Sensors
• Temperature Sensors
• Humidity Sensors
• Chemical Sensors
• Other Sensors

By End-User Industries

• Automotive
• Aerospace and Defense
• Consumer Electronics
• Healthcare
• Industrial
• Other End-user Industries

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA