The global surface acoustic wave (SAW) device market was valued at USD 2,155 million in 2017 and is expected to reach USD 3,464 million by 2024, at a CAGR of 7.1%. Factors driving the growth of the market are; increasing demand for cost effective small sensors in healthcare sector, increasing adoption of touch-based devices, and growing applications of SAW device in various end-use industries. Furthermore, increasing usage of oscillators in radios and TV transmitters for broadcasting the signals is further boosting the market growth.
Surface Acoustic Wave (SAW) is the type of sound wave which travels parallel to the elastic substrate. The most attractive characteristic of SAW devices is they are easy to fabricate. Factors driving the growth of the global surface acoustic wave devices market are increasing demand for cost effective small sensors in healthcare sector, increasing adoption of touch-based devices, and growing applications of SAW device in various end-use industries. Furthermore, increasing usage of oscillators in radios and TV transmitters for broadcasting the signals is further boosting the market growth. Surface acoustic wave devices are also used for measuring pressure fluctuation in various industrial applications. Moreover, the ability of SAW devices to be operated without battery enables them to be used in extreme temperature and magnetic fields.
SAW devices are emerging as a promising platform for the development for chemical sensing and analysis. It has become an effective and versatile device for micro fluidic processing and for direct sensing of chemicals. The SAW devices are used as pressure, temperature and stress sensors, and in advanced form they can be incorporated as chemical sensors and biosensors. Moreover, SAW devices find a wide range of applications in environmental monitoring, chemical processes, and emission monitoring in industries among others.
Geographically, the SAW device market is segmented into North America, Asia Pacific, Europe, Middle East and Africa and Central & South America. Asia Pacific dominated the surface acoustic wave device market in 2017, followed by North America and is expected to continue its dominance over the forecast period. The growth in Asia-Pacific region is attributed to the presence of major semiconductor and electronics manufacturing companies in countries including China, Japan, India and Taiwan. Moreover, the availability of raw materials and cheap labor has also increased the demand for SAW devices in Asia-Pacific Region.
Key players are Murata Manufacturing Co., Ltd.; Kyocera Corporation; ITF Co., Ltd; API Technologies Corporation; Tai-Saw Technology Co., Ltd.; Taiyo Yuden Co., Ltd.; Skyworks Solutions, Oscilent Corporation; Boston Piezo-Optics; AVX; among others.
7.1. Murata Manufacturing Co., Ltd.
7.5. Tai-Saw Technology Co., Ltd.
7.6. Taiyo Yuden Co., Ltd. Can you summarize the factors driving the growth of the global surface acoustic wave devices market and their applications in various industries?
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