LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global acoustic sensors market is projected to grow to USD 8.66 billion by 2021, at a CAGR of close to 14% over the forecast period.
This research report titled ‘Global Acoustic Sensors Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
|Acoustic sensors are known for their detection mechanism, which they use to detect acoustic waves. These acoustic sensors are used widely in smartphones and tablets, and their rising adoption among various consumer demographics is expected to drive the growth of the global market.|
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Based on end-users, the report categorizes the global acoustic sensors market into the following segments:
- Telecom sector
- Automotive sector
- Consumer electronics
The top three revenue-generating end-user segments in the global acoustic sensors market are discussed below:
“The telecom sector is expected to occupy a majority 48% of the overall acoustic sensor market shares by 2021, driven by their varied applications in the consumer and communication industries due to their stupendous performance, high reproducibility, and small size,” says Sunil Kumar Singh, a lead analyst at Technavio for sensors research.
Applications of acoustic sensors in the telecom industry are mainly used as filters in mobile phones and base stations. Acoustic sensors, especially surface acoustic wave (SAW) and bulk acoustic wave (BAW) filters, are used in cellular base stations to filter signals and boost reception.
The automotive sector is the second largest end-user of the global acoustic sensors market, projected to be worth USD 2.24 billion by 2021. Vehicle monitoring, temperature monitoring, and tire pressure monitoring (TPM) systems are the key application areas of acoustic sensors in the automotive sector. Global automobile manufacturers such as Nissan, Ford Motors, and Tesla have started offering the TPM feature in their sports utility vehicles (SUVs) and multi-utility vehicles (MUVs). Also, the rising regulations regarding vehicle safety are adding a significant demand for acoustic sensors from the market segment.
“The consumer electronics sector is projected to grow at a CAGR of more than 25% over the forecast period, driven by their extensive use in medical applications for monitoring strain and pressure,” says Sunil.
Acoustic sensors are widely used to record pressure values for diagnosis and treatment in the fields of cardiology, urology, gastroenterology, orthopedics, and many others. Demand for better medical treatment is currently driving the demand for sensors that are reliable, compact, and economical in the medical industry. Also, touch integrated medical devices is expected to further propel the growth of the market segment.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Boston Piezo-Optics
- Honeywell International
- Murata Manufacturing
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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