According to Stratistics MRC, the Global Acoustic Sensors market is accounted for $5.87 billion in 2015 and is expected to reach $14.81 billion by 2022 growing at a CAGR of 14.1%. The growth in telecommunications market, technological developments such as micro technology and nanotechnology and low manufacturing are the key drivers for the market growth. The market growth is presently being inhibited by replacement of Surface Acoustic Wave (SAW) Sensors with other sensors in conventional applications. The temperature, viscosity, torque, and pressure sensors are most extensively used, but there will be a strong growth of other sensors like mass and humidity in the future.
Government regulations in the Europe and U.S. for TPMS implementation in automobiles present new growth opportunities to the market.
North America accounted for more than 30% of market share and leads the acoustic sensors market during the forecast period. On the other hand, Asia Pacific is anticipated to grow at the highest CAGR during the forecast period. The largest application segment of the market is the industrial segment, followed by automotive segment with an increasing number of applications of these sensors in Tire pressure monitoring system (TPMS), emission control, and torque measurement. The emerging segment of the market is the healthcare industry, where there is a huge need for wireless sensors.
Some of the prominent players in global acoustic sensors market include Panasonic Corp., Honeywell International, AVX Corporation, Teledyne Microwave Solutions, Ceramtec, CTS Corporation, Epcos, Boston Piezo-Optics Inc., Vectron International, PAI Technologies Corp., Asr&D Corporation, Raltron Electronics Corporation, Senseor, Kyocera and Murata Manufacturing Co., Ltd.
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Sensor Types Covered:
Surface Wave Sensors
Bulk Wave Sensors
Sensing Parameters Covered:
Aerospace and Defence
Rest of Europe
Rest of Asia Pacific
Rest of the World
What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements