The global acoustic wave sensor market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The Acoustic Wave Sensor Market is highly competitive due to the presence of several large vendors. The competition among the vendors will intensify due to the increase in product extensions and various above mentioned factors. The players in the acoustic wave sensor market compete on the basis of the factors such as technology, features, design and compatibility. The vendors or the manufacturers are continuously coming up with new ideas and technologies to gain competitive advantage over their competitors.
The key players in the global acoustic wave sensor market include- Althen GmbH Mess- und Sensortechnik (Germany), Vectron International Inc. (US), Qualtre Inc. (US), SENSeOR SAS (France), NanoTemper Technologies GmbH (Germany), Transense Technologies plc (UK), Sensor Technology Ltd. (US), Pro-micron GmbH & Co. KG (Germany), Hawk Measurement Systems (Australia) and H. Heinz Meßwiderstände GmbH (Germany) among others.
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Global Acoustic Wave Sensor Market – Competitive Analysis
The highly competitive global acoustic wave sensor market appears to be fragmented characterized by the well-established players alongside the small-scale players and new entrants forming a competitive landscape. These players strive to develop cost-effective product portfolio, increasingly investing in research and development.
These players emphasis on geographical expansion and new product development initiatives. The global acoustic wave sensor market is anticipated to witness relentless innovations and development of new products, eventually result in intense competition among the acoustic wave sensor manufacturers.
With the more sensors entering into the market, the competitive nature of the market is envisaged to intensify which is inevitable in the wake of increasing government regulations and consumer demand.
Global Acoustic Wave Sensor Market – Segmentation
The MRFR analysis is segmented into four key dynamics for the convenience of understanding;
- By Type : Bulk Acoustic Wave Sensor, Surface Acoustic Wave Sensor, and others.
- By Device: Resonator, Delay Line, Holographic Television, and Holographic Tele presence among others.
- By Vertical: Defense, Automotive Healthcare, Industrial, Food & Beverages, and Environment
- By Regions: North America, Europe, APAC and the Rest-of-the-World.
Global Acoustic Wave Sensor Market – Regional Analysis
The acoustic wave sensor markets in Europe and North America account for the leading markets, globally. Some of the dominant factors leading the market growth include rapid technological development, growing demand for high-end technology solutions, and the increasing usages of acoustic sensors in the aerospace and defense sector.
Moreover, the increasing R&D activities alongside the stable economic conditions provide impetus to the growth of the market. Furthermore, factors such as the stringent government regulations on vehicles’ safety, the strong increase in vehicle production and sales along with continued demand for safety and comfort features drive the market growth in these regions.
The US market backed by its third largest share in global acoustic wave sensor market dominates the regional market. The market in America is further expected to grow at a substantial CAGR during the forecasted period.
The Asia Pacific region is rapidly emerging as a promising market for acoustic wave sensor due to the presence of a large number of manufacturers of these sensors and the increasing growth of automotive industries.
Moreover, factors such as the stringent government regulations, the increasing demand for low-end automobiles, and influential car designers to upgrade the safety provision in car designs will allow the market to grow with a considerable CAGR.
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Industry/ Innovation/ Related News
November 27, 2018 –– Zomedica Pharmaceuticals Corp. (US), a veterinary diagnostic and pharmaceutical company, announced the signing of a development and supply agreement with Qorvo Biotechnologies, LLC (US), a subsidiary of Qorvo, Inc. to bring its piezo-electric Bulk Acoustic Wave (BAW) sensor to the veterinary health sector.
Zomedica and Qorvo will collaboratively work on the development of veterinary diagnostic assays to deliver reference-lab performance at the point of care. As per the terms and condition of this agreement, Zomedica has exclusive and global rights to modify and market Qorvo’s investigational point-of-care diagnostic platform for veterinary use.
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