Australia’s acoustic sensors market is projected to reach USD 0.06 billion by 2022 at a CAGR of 3.54% over the period 2017-2022. Technological advancements, low manufacturing cost, and wireless and passive nature of the products are the major drivers of the lucrative growth of acoustic wave sensors.
The growth of the telecommunications market is another key factor contributing to the growth of the market. However, their low mass sensitivity and the fact that conventional applications use other sensors instead of SAW sensors are hindering the growth of the market. Growing demand for reliable, low-cost, and high-performance sensors leads to the development of latest technologies like microtechnology and nanotechnology, offering miniaturization and mass production opportunities. The temperature, pressure, torque, and viscosity sensors are most widely used but there will be a healthy growth of other sensors that measure mass and humidity in the future.
The acoustic sensors market is segmented on the basis of type, sensing parameters, and end-user industry. The largest application segment for acoustic wave sensors is the industrial segment, followed by the automotive segment with a growing number of applications of these sensors in TPMS, emission control, and torque measurement. The emerging segment for acoustic wave sensors is the healthcare industry where there is an enormous need for wireless sensors.
This report gives a detailed study of Porter’s five forces analysis, market segments, and current market trends. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. The report also covers the market landscape of these players, which includes the key growth strategies and competition analysis.
Key trends that will impact the industry are also considered.
Some of the key players mentioned in the report are:
- Boston Piezo-Optics Inc.
- CTS Corporation
- Honeywell International Inc.
- Panasonic Corporation
- Teledyne Microwave Solutions
What the Report Offers
- Market definition for Australia’s acoustic sensors market along with the identification of key drivers and restraints for the market
- Market analysis for Australia’s acoustic sensors market, with region-specific assessments and competition analysis on a regional scale
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence the market on a regional scale
- Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market share
- Identification and analysis of the macro and micro factors that affect Australia’s acoustic sensors market on a regional scale
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
