The Global Acoustic Wave Sensor Market is projected to reach $1,183.52 Million by 2020, How?

Acoustic wave sensors have applications across varied industry verticals, such as automotive, military & aerospace, consumer electronics, healthcare, and industrial. The industrial application segment is anticipated to be the leading application of the acoustic wave sensors market.

The report "Acoustic Wave Sensor Market by Sensing Parameter (Temperature, Pressure, Mass, Torque, Humidity, Viscosity), Application (Automotive, Military & Aerospace, Consumer Electronics, Healthcare and Industrial), Geography - Forecast to 2020, the global acoustic wave sensor market is estimated at $387.12 Million in 2015 and is projected to reach $1,183.52 Million by 2020, at a CAGR of 25.0% from 2015 to 2020.

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The global acoustic wave sensor market is primarily driven by increasing use of acoustic-based MEMS devices. The technological advancement of the micro-electromechanical systems (MEMS) has facilitated the development of biosensors and various devices for telecommunications. Acoustics-based MEMS devices offer a promising technology platform for a wide range of applications due to their high sensitivity and capability to operate wirelessly.

The global acoustic wave sensor market is expected to witness substantial growth in the near future. There is a growing adoption of acoustic wave sensor in various sectors, such as automotive, military & aerospace, consumer electronics, healthcare, industrial. The industrial application segment is leading the acoustic wave sensor market in 2015 with a market share of 42.9%. The consumption of acoustic wave sensors in the consumer electronics application segment is estimated to be 39.39 Million units in 2015 and is expected to reach 157.35 Million units by 2020, at a CAGR of 2.7% from 2015 to 2020. The global acoustic wave sensor market in North America is estimated to grow from $83.00 Million in 2015 to $163.40 Million by 2020, at a CAGR of 14.5% during the given forecast period.

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This research study is aimed at identifying emerging trends and opportunities in the global acoustic wave sensor market along with detailed classifications, in terms of revenue and volume. It provides comprehensive competitive landscape and identifies the key players with respect to market size and market share. The research study also includes a detailed segmentation of the global acoustic wave sensor market, on the basis of application, sensing parameter, and geography.

Apart from the market segmentation, this report also makes use of the Porter’s Five Forces Analysis, which provides an in-depth analysis of the market providing a detailed process flow diagram and market dynamics, such as drivers, restraints, and opportunities in the global acoustic wave sensor market.

The major players operational in the global acoustic wave sensor market are API Technologies (U.S.), Applied Sensor Research & Development Corporation (U.S.), AVX Corporation (U.S.), Boston Piezo-Optics Inc. (U.S.), CeramTec (Germany), CTS Corporation (U.S.), Honeywell International, Inc. (U.S.), Kyocera Corporation (Japan), Murata Manufacturing Co., Ltd. (Japan). These companies have adopted various strategies, such as mergers & acquisitions and partnership, among others to achieve growth in the global acoustic wave sensor market.

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