Market Size of APAC Acoustic Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 14.62 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Acoustic Sensors Market Analysis
The Asia Pacific acoustic sensors market is expected to grow at a CAGR of 14.62% over the forecast period (2021 - 2026). The use of acoustic sensors for acoustic-wave-based MEMS devices has created a promising technology platform available for a wide range of applications. These devices have high sensitivity and can operate wirelessly.
- The surface wave acoustic sensor is expected to have high growth during the forecast period due to its implementation in television transmitters and radios to generate signals for broadcasting. SAW devices are indispensable as filters in radio frequency applications and are essential components used in the terminals and base stations for satellite communication.
- The increasing focus on investments to develop infrastructure for supporting 5G technology is expected to boost the demand for RF semiconductors across the region. According to the GSMA, mobile operators in the Asia-Pacific region are expected to invest over USD 400 billion in their networks between 2020 and 2025, of which USD 331 billion will be spent on 5G deployments.
- The region is also dominating the global market for automotive MEMS sensors. The EV market is a massive opportunity in the region. EV sales remained constant in China in 2019, at around 1.2 million units sold (a 3% increase from the previous year).
- In June 2020, the China-based electric vehicle (EV) producer, BYD, secured a second round of financing for its BYD Semiconductor subsidiary to increase its production. The company is interested in developing semiconductors that can increase the efficiency of the electric motor in EVs. With such initiatives to improve the manufacturing capacities in the region, the demand for SAW devices is expected to increase.
- In the initial phase of the COVID-19, the studied market witnessed the disruption in the supply chain owing to nationwide lockdown and closure of many manufacturing capacities. However, after the 2nd Q of 2020, the market started witnessing a recovery in demand and production, the semiconductor industry trend that was also reflected in the studied market.
