Acoustic wave sensor market for automotive vertical to grow at highest CAGR during forecast period

The increasing necessity of security and surveillance in the verticals such as industrial, automotive, military, and healthcare is encouraging the adoption of acoustic wave sensors in various verticals. The acoustic wave sensor market is expected to be valued at USD 868.3 million by 2023, growing at a CAGR of 10.7% between 2017 and 2023. The growth of this market is propelled by the growing adoption of acoustic wave sensors by various industries. APAC is expected to hold the largest size of the acoustic wave sensor market by 2023, and the market in APAC would grow at the highest CAGR during the forecast period.

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Althen GmbH Mess- und Sensortechnik (Germany), Vectron International Inc. (US), Qualtre Inc. (US), SENSeOR SAS (France), NanoTemper Technologies GmbH (Germany), and Transense Technologies plc (UK) are some of the leading players in the acoustic wave sensor market. These players have adopted the strategies of product launches and developments, acquisitions, and partnerships to gain a competitive edge in the market.

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Althen GmbH Mess- und Sensortechnik (Germany) is a prominent player in the acoustic wave sensor market. The company is one of the leaders in the acoustic wave sensor market. TorqSense, the patented technology of the company, is used in the torque measurement products. This technology is used for the measurement of resonant frequency with respect to frequency-dependent surface acoustic wave (SAW) devices. Althen GmbH has a wide distribution network in the Deutsch (Germany) �sterreich (Austria) Schweiz (Switzerland ) (DACH) region, France, the UK, the US, and Turkey. The company invests mainly in R&D for technological innovation. Althen focuses on providing advanced solutions to end users by partnering with other key technology providers, which would help the company expand its product offerings.

Transense Technologies plc (UK) is one of the giants in acoustic wave sensor market. Transense develops 2 different SAW-based sensors, one of which is used to measure torque and temperature, and the other is used to measure pressure and temperature. The company offers interrogation electronics and software to measure the frequency change in these parameters. The company manufactures high-quality products and provides services with increased efficiency, high performance, and improved safety. The company offers its products to various industries, such as mining, commercial vehicle, aviation, electrical, and heavy vehicle. Transense follows the strategy of joint ventures and alliances for expanding its product portfolio. The company has a presence in the US, Canada, South and Central America, EMEA, Asia, and Oceania. The other players involved in the development of acoustic wave sensors include Abracon LLC (US), Boston Piezo-Optics Inc. (US), STMicroelectronics (Switzerland), SenSanna (US), and Precision Acoustics Ltd. (UK). In 2015, the SAWSense segment of Transense signed a memorandum of understanding with General Electric (US)for the development of its instrumentation applications by utilizing the wireless, passive SAW measurement technology offered by the company.

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