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The market size of acoustic wave sensors in the year 2012 was $256.0 million and is expected to reach $721.13 million 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.
Acoustic wave sensors are expected to show good growth across different application segments due to their competitive advantages over the other technologies. As of now, temperature, pressure, torque, and viscosity sensors are the only ones to have reached complete commercialization but we predict a healthy growth of the other sensors as well in future as more applications of acoustic wave sensors get realized in the years to come. Acoustic wave temperature and pressure sensors are increasingly used in automotive and industrial applications with some applications of torque sensors as well.
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 future is expected to play a major role in the overall market in the years to come.
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