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Market for Acoustic Wave Sensors to Reach $721 Million by 2018
Due to lesser response time, passive nature, and wireless operation, acoustic wave sensors are gradually replacing conventional sensors for a variety of applications such as industrial, automotives, consumer electronics, military and aerospace, and healthcare segments. There has been a growth in the automotive industry that uses sensors to a greater extent from applications such as TPMS (Tyre Pressure Monitoring System), engine management, emission control to monitoring of air volume, torque sensing, exhaust gas pressure of EGR system. Adoption of acoustic wave sensors in many application segments will add on to their consumption in the future. Safety related mandates in regions like North America and Europe are driving the growth of sensors in automotive industry.
Technological advancement is opening new doors for the growth of acoustic wave sensors especially in automotive and medical applications. Penetration of MEMS technology in acoustic wave sensing in the future is expected to play a major role in the overall market in the years to come. The market size of acoustic wave sensors in the year 2012 was $256.0 million and is expected to reach $721.13 million units by 2018, at an estimated CAGR of 20.2%. In terms of volume, the unit shipment for acoustic wave sensors was 848.81 million units in the year 2012 and is expected to reach 2,985.40 million units by 2018, at an estimated CAGR of 24.8% from 2013 to 2018.
Details of the new report, table of contents and ordering information can be found on Electronics.ca Publications' web site. View the report: "Acoustic Wave Sensor Market - Global Forecast, Trend & Analysis".