Aug 11 2015
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", published by MarketsandMarkets, 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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Globally, it has become essential to implement Tire Pressure Monitoring System (TPMS) in light vehicles in order to avoid unsafe driving conditions. The purpose of the TPMS is to warn the driver that at least one or more tires are significantly under-inflated. The laws such as TREAD and EU TPMS issued by NHTSA (U.S.) and by EU legislation (Europe) respectively have made it mandatory to install TPMS in light vehicles. As there is major usage of acoustic wave sensors in TPMS, these regulations will be an important driver for the global acoustic sensor market in the coming years.
The consumer electronics and healthcare sectors are also expected to provide huge opportunities for the acoustic wave sensor market in the coming years. Currently, the global acoustic sensor market is dominated by various market players, such as Vectron International (U.S.) and SENSeOR (France).
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.
The 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.
Source: http://www.marketsandmarkets.com