Acoustic Wave Sensor Market of Japan is Projected to Grow Fast at a CAGR of 29.7%

Date: 2015-08-12

“The APAC acoustic wave sensor market is estimated to grow at a CAGR of 32.8% from 2014 to 2019. The APAC acoustic wave sensor market stands second globally after Europe with a market share of 27% in the global acoustic wave sensor market in the year 2014. The growth of the APAC acoustic wave sensor market is driven by its features such as wireless and passive nature and low manufacturing cost. Also, the growth of the automotive industry has driven the acoustic wave sensor market to grow exponentially.

The APAC acoustic wave sensor market has been classified by sensing parameter as temperature, pressure, mass, torque, humidity, viscosity, chemical vapor, and others. The surface acoustic wave temperature sensor has a significant market share and is estimated to grow at a favorable CAGR of 29% from 2014 to 2019. It has multiple uses in temperature measurements of critical areas like rotating machine components or combustion chamber, and in various industrial and automotive application markets. 

Geographically, China is considered to be a huge market for sensors as a result of its continuously booming economy, estimated to command the largest share of 48.5% of the APAC acoustic wave sensor market, followed by Japan and India. The acoustic wave sensor market of Japan is projected to grow fast, at a CAGR of 29.7% from 2014 to 2019. APAC’s market has dominated the market for sensors used in consumer electronics as well as in automotive segment. 

Main industries of APAC include automotive, process industries, healthcare, petrochemical oil and gas, and consumer electronics. Most of the innovation in electronics design and technology was deployed in Japan first then in Rest of the World. In 2014, the APAC acoustic wave sensor market was the second largest market with key players such as Vectron International (U.S.), Murata Manufacturing Co. Ltd. (Japan), Honeywell International (U.S.), Kyocera (Japan), API Technologies Corp., (U.S.) and CeramTec (Germany). New product launches and partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by most market players to achieve growth in the acoustic wave sensor market.    

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