North American Acoustic Wave Sensor Market was Valued at $79.7 Million

Date: 2015-08-02

“Acoustic wave sensors are expected to show positive 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 the automotive and industrial applications with some applications of torque sensors as well. The North American acoustic wave sensor market was valued at $79.7 million in 2014 and is expected to reach $151.3 million, growing at a CAGR of 13.7% during the forecast period of 2014 to 2019. 
In the modern world, sensors are the need of the hour. Also, sensors have proved themselves as a continuously growing revenue stream due to an increase in the number of applications. Following the same trend, acoustic wave sensors have shown a significant growth in the recent years across different industry verticals. The major applications of acoustic wave sensors are in industries, automotive, military and aerospace, consumer electronics, and healthcare. The largest application segment for acoustic wave sensors is the industrial segment due to their wireless and passive nature that makes them suitable for use in rotating components. The automotive segment follows as the second-largest application segment with a growing number of applications of these sensors such as tyre pressure monitoring, emission control, and torque measurement. Another emerging segment for acoustic wave sensors is the healthcare industry where there is an immense need for wireless sensors with smaller form factor. The demand for reliable, high-performance, and low cost sensors is increasing, leading to the development of new technologies like the microtechnology and nanotechnology offering opportunities like miniaturization, low power consumption, and mass production. 
The report also provides an extensive competitive landscaping of companies operating in this market. The main companies operating in the North America region are Honeywell International (U.S.), Siemens AG (Germany), TDK Corporation (Japan), Vectron International (U.S.), and CTS Corporation (U.S.).
Segment and country specific company shares, news and deals, M&A, segment specific pipeline products, product approvals, and product recalls of the major companies have been detailed. 
The acoustic wave sensor market is competitive in nature, marked with new product developments and mergers and acquisitions. New product launches and mergers and acquisitions are the key strategies adopted by market players to ensure their growth in the market. 

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