Acoustic wave sensors are the electronic devices used to measure sound levels. When an acoustic wave travels through a material or along the surface of the material, it is affected by the different properties of the material it travels through and hindrances in the path. Any changes in the characteristics of this traveling path affect the velocity and amplitude of the wave. These changes can be recorded by measuring the phase characteristics or frequency of the waves. Acoustic wave sensors are comparatively cheap, reliable, rugged, and very sensitive, and can be used wirelessly and passively (without a power source)."

Visionary leaders are the leading market players in terms of product portfolio, geographic reach, innovative technologies, and adoption of growth strategies. The SWIR market is moderately dominated by the players covering a major share of the market. These players have a broad product portfolio that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and well-established brand equity.

There have been many companies in the acoustic wave sensor market since the past decade that are largely dependent on their competitive R&D activities. Most of the dynamic players are classified as the companies which focus specifically on one or two technologies and have a presence in various regions globally.

The acoustic wave sensor market is moderately dependent on innovators, which bring innovation in the form of product and technology development. Therefore, new players can make steady profits.

Owing to the moderate threat posed by the market to new entrants to establish the footprint, there are many players providing acoustic wave sensor solutions to diverse business groups globally.