The global Ultrasonic Sensors market size is expected to be worth around US$ 6.04 billion by 2028, according to a new report by Vision Research Reports.
The global Ultrasonic Sensors market size was valued at US$ 3.91 billion in 2020 and is anticipated to grow at a CAGR of 6.9% during forecast period 2021 to 2028.
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The increasing adoption of ultrasonic sensors in automobiles for applications such as parking assistance systems and Automated Driver Assistance Systems (ADAS) is expected to emerge as a major factor influencing the market growth. The increasing demand for ultrasonic sensors in factory automation is expected to provide lucrative opportunities to market players.
Ultrasonic sensors are extensively used in the Unusual Motion Detection (UMD) technology that continuously monitors a scene and detects and marks unusual events. Furthermore, vast advancements in ultrasonic sensors such as the usage of matched filters have made them more accurate and more suitable for use in flow measurement by utility companies. Rising demand across these applications is expected to drive market growth over the forecast period.
As these systems are sensitive to high-frequency sound, they are often used for detecting distinctive sounds in the upper ultrasonic range emitted from machine friction and stress. The mounting number of COVID-19 cases globally has put health-related sources under immense pressure; as surgeons try to avoid the risk of exposing patients to possible COVID-19 infection during hospitalization, there has been a notable decrease in the number of surgeries globally. As a result, the demand for these systems across surgical applications has significantly lowered.
The obstacle detection segment accounted for over 10% of the market share in 2021 owing to the increasing usage of these systems in collision avoidance systems of automobiles. Stringent government policies and regulations related to the installation of vehicle safety features such as collision avoidance systems and airbags have further fueled the growth prospects of the segment.
The level measurement segment is anticipated to register a promising CAGR owing to the increasing demand for level sensors for continuous level monitoring in oil and gas, food and beverage, and water and wastewater infrastructure. The rising usage of level sensors for monitoring storage units and downstream processing plants has positively impacted demand across the oil and gas sector. Moreover, an increase in shale gas exploration activities in countries such as China, Russia, and the U.S. further drives the growth prospects of the segment. The segment could also benefit from the increasing demand for level sensors in the food & beverage industry for use in level controllers in flour silos of large bakeries.
The automotive segment accounted for a 15% share of the market in 2021. In the automotive industry, ultrasonic sensors are widely used in applications such as parking assistance and collision avoidance. Moreover, several companies, such as Pepperl+Fuchs GmbH, Omron Corporation, and Texas Instruments Incorporated, are focusing on the development of interfaces for these systems specific to automotive applications.
The healthcare segment is projected to register the highest CAGR over the forecast period, thanks to the rising demand for ultrasonography and ultrasonic scanning. Ultrasonic scanning uses ultrasonic waves to produce images of internal organs and tissues. Furthermore, there has been an increasing demand for ultrasonic sensors in Ultrasonic Surgical Instruments (USI), which is anticipated to provide lucrative opportunities to market players.
In terms of technology, the retro-reflective segment accounted for the 40% market share in 2021. This can be attributed to the advantages provided by these sensors, including reduced maintenance costs, installation costs, and reliability in detecting transparent objects. Moreover, retro-reflective sensors offer simple optical axis adjustment and wiring, which makes them easy to deploy.
The through-beam segment is anticipated to register a high CAGR over the forecast period. This can be attributed to the increasing usage of these sensors in fill-level measurement applications in transparent containers. Furthermore, these sensors are extensively used in water & wastewater treatment plants for measuring the turbidity of water. There has been an increase in the adoption of through-beam sensors in the food & beverage industry by food safety agencies for monitoring the purity of liquids.
Europe dominated the market with a 30% market share in 2121, owing to the increasing demand for minimally invasive surgeries in the region. In minimally invasive surgery, ultrasonic sensors enable surgeons to operate with high-precision. Furthermore, the rise in initiatives such as Factories of the Future and Logistics Initiative Bavaria has significantly boosted the growth prospects of the regional market.
- Balluff Inc.
- Banner Engineering Corp.
- Hans Turck GmbH & Co. KG
- Ifm electronic GmbH
- Murata Manufacturing Co., Ltd.
- Pepperl+Fuchs GmbH
- SICK AG
- Technology Outlook
- Retro-reflective Sensor
- Through-beam Sensor
- Type Outlook
- Level Measurement
- Distance Measurement
- Obstacle Detection
- End-use Outlook
- Consumer Electronics
- Aerospace & Defense
- Region Outlook
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
Browse complete table of contents at@ https://www.visionresearchreports.com/ultrasonic-sensors-market-size-share-trends-growth-production-consumption-revenue-company-analysis-and-forecast-2021-2028/toc/36877
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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