The surface acoustic wave sensors market reached $997.7 million in 2010 and nearly $1.1 billion in 2011.
The industry has been forecast to grow at a compound annual growth rate (CAGR) of 11.8% through to 2016, to reach a market value of $1.8 billion.
Surface acoustic wave technology allows the sensing of pressure, strain, torque, temperature, and mass.
Growth within the surface acoustic wave sensors market is set to be driven by the fact that they are competitively priced, inherently rugged, very sensitive, intrinsically reliable, and offer the additional benefit of being passively wirelessly interrogated.
Asian represents the region dominating the surface acoustic wave sensors market, with a market value of $307.4 million in 2010 and $353.7 million in 2011. The market is expected to reach $907.8 million by 2016, growing at a CAGR of 20.7%.
The US represents the region with the second largest market share, recording a surface acoustic wave sensors market value of $276.9 million in 2010 and $274.5 million in 2011. The market is expected to reach $309.3 million by 2016, showing a CAGR of 2.4%.
For more information on the surface acoustic wave sensors market, see the latest research: Surface Acoustic Wave Sensors Market Report
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