According to a Research and Markets report, the Australian acoustic sensors market is projected to reach USD $60 million by 2018 at a CAGR of 3.54 per cent over the period 2014-2020.
Technological advancements, low manufacturing cost, and wireless and passive nature of the products are the major drivers for the lucrative growth of the acoustic wave sensors.
The growth of telecommunications market is another key factor contributing to the growth of the market.
However, low mass sensitivity and conventional applications use other sensors instead of SAW sensors hindering the growth of the market.
The growing demand for reliable, low cost and high performance sensors has lead 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, according to the Research and Markets report.