The acoustic sensors market was valued at USD 707.94 million in 2020 and is expected to reach USD 1750.19 billion by 2026, and grow at a CAGR of 14% over the forecast period (2021 - 2026). The use of acoustic sensors for acoustic-wave-based MEMS devices has created a promising technology platform is 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 their implementation in television transmitters and radios to generate signals for broadcasting. In fact, SAW devices are indispensable as filters in radio frequency applications and are important components used in the terminals and base stations for satellite communication.
- Moreover, automotive applications have marked a significant demand for acoustic sensors recently. The complete silence of the motors used in electric cars may pose a hazard to inattentive pedestrians. As a result, the new electric and hybrid vehicles will have to be equipped with an acoustic warning system. Therefore, with rising concerns regarding traffic management will drive the market growth.

Key Market Trends

Telecommunications Applications to Drive the Market Growth

- The telecommunications industry is the largest consumer of acoustic sensors, primarily driven by smartphones and base stations. With telecom companies setting up more and more towers to support the ever-increasing customer base, base stations are increasing.
- Moreover, people, especially in developing countries, are buying smartphones owing to the increase in disposable incomes and low-budget smartphones. In fact, according to a Cisco VNI Mobile report published in 2019, there will be significant growth of smartphones (including phablets) from 50 percent share of total devices and connections in 2017 to over 50 percent (54 percent) by 2022.
- Moreover, most of the telephone devices and other similar gadgets already have microphones/speakers installed, which support acoustic-sensing applications with a relatively low deployment cost.
- Owing to the increasing usage of smartphones, tablets, and other electronic devices in the developed and developing economies such as the United States, China, South Korea, Japan, and India, acoustic sensors are expected to witness growth during the forecast period.

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Asia-Pacific to Witness a Significant Growth Rate

- Asia Pacific region is expected to be the fastest growing global acoustic sensor market followed by North America and Europe region primarily due to an increase in the application of acoustic sensor in smartphones and smartwatch in the consumer electronics sector.
- China holds the largest share of acoustic sensor market in the Asia-Pacific due to the extensive use of acoustic sensors in consumer electronics.
- Other major end-user segments such as automotive, defense and industrial sectors that extensively adopt acoustic sensors have very high penetration in this region.

Competitive Landscape

Acoustic sensors are a relatively simple device to manufacture. Consequently, the market is highly fragmented with many global, as well as local manufacturers, contributing to the market dynamics. The MEMS market is seeing a steady growth but companies have to face a cut-throat competition leading to brutal price declines and low margins. The market is continually adding new entrants into the market.

According to SEMI, the global association for the product design and manufacturing chain for the electronics industry, wearables won’t be a big driver for some time yet, and other applications are an increasingly fragmented collection of specialized niches. The major driver of the MEMS market is the innovation that is leading to better performance of established devices like microphones and acoustic filters. Under such conditions, the companies are focusing on expanding their business through strategic acquisitions, partnerships, and innovations. Some of the recent developments are:-

- February 2019 - Transense Technologies PLC announced the inclusion of its surface acoustic wave sensor in a new US Army turbine engine program through its strategic partner GE Aviation. The US Army plans to replace the engines in its Boeing AH-64 Apaches and Sikorsky UH-60 Black Hawks with the T901-GE-900 engine, which will incorporate the Transense SAW sensor.

- July 2018 - Akoustis Technologies, Inc., a manufacturer of patented single-crystal bulk acoustic wave high-band RF filters for mobile and other wireless applications, completed the qualification of its first generation XBAW wafer technology and the underlying single crystal materials process at its Canandaigua, NY fabrication facility

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