Global Ultrasonic Sensors Market Insights Forecasts to 2030
- The Ultrasonic Sensors market was valued at USD 3 billion in 2021.
- The market is growing at a CAGR of 10% from 2022 to 2030
- The global Ultrasonic Sensors market is expected to reach USD 5 billion by 2030
- North America is expected to grow the fastest during the forecast period
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The global Ultrasonic Sensors market is expected to reach USD 5 billion by 2030, at a CAGR of 10% during the forecast period 2022 to 2030. The rising use of Ultrasonic Sensors for object detection, distance measurement, and in healthcare for Ultrasonography are the some of the factors which are driving the global ultrasonic sensors market.
The ultrasonic sensor is an electronic device which is used to measure the distance of an object by emitting ultrasonic sound waves and it transforms the reflected sound into an electrical signal. Ultrasonic waves travel fastest compared to the speed of audible sound which means it is a sound that is audible to the human ears. It consists of two components such as receiver and a transmitter. The transmitter basically emits the sound through piezoelectric crystals and a receiver encounters that sound after it has travelled to and from the target. These are mainly used in the automobiles self-parking technology and anti-collision safety systems. Not only this but also ultrasonic sensors are widely used in health care systems to create images of internal organs, identify tumours and check the health of babies in the womb.
Global Ultrasonic Sensors Market Report Coverage
|Market Size in 2021:||USD 3 Billion|
|Forecast Period 2022-2030 CAGR:||10 %|
|2030 Value Projection:||USD 5 Billion|
|Historical Data for:||2019-2020|
|No. of Pages:||220|
|Tables, Charts & Figures:||100|
|Segments covered:||By Type, By Structure Type, By Application, By Industry Verticals|
|Companies Covered:||Keyence, Omron Corporation, Honeywell International, Inc., Rockwell Automation Inc., Pepperl+Fuchs AG, Toposens|
|Growth Drivers:||The ultrasonic sensors market is anticipated to grow due to the increasing prevalence of chronic illness and injuries to muscles, joints, tendons, and internal organs.|
|Pitfalls & Challenges:||Limitations in detection range, for example, could limit market expansion.|
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This research report categorizes the market for ultrasonic sensor market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the ultrasonic sensor market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the ultrasonic sensor market.
The ultrasonic sensors market is anticipated to grow due to the increasing prevalence of chronic illness and injuries to muscles, joints, tendons, and internal organs. As already mentioned above ultrasonic sensors are increasingly used in different surgical procedures which are expected to become more common as they are low in cost and lack of side effects. Traditionally ultrasonic sensors are also used in cards to make them advanced such as crash avoidance, parking assistance, automatic braking, security alarm and obstacle detection which are boosting the automotive industry. With the introduction of Advanced driver assistance systems in the automotive industry, the demand for ultrasonic sensors is surging which is fueling the market growth. Apart from this, the introduction of automatic mobile trolleys has also urged the companies to spend more in the field of technology.
Limitations in detection range, for example, could limit market expansion. Ultrasonic parking sensors may prove to be physically too deep for installation in the bumper of a variety of automobiles due to the existence of the crash protection bar.
- In 2021, retro reflective segment holds the maximum market revenue of USD 1 billion.
Based on type, the ultrasonic sensors market is segmented into Retro-reflective Sensor, Through-beam Sensor. Among these, retro reflective segment is dominating the market with the maximum market revenue of USD 1 billion in 2021 as it offers various benefits like user friendly optical axis, low maintenance, easy deployment, as well as reduced installation costs. All these benefits have prompted the market players to opt for retro reflective sensors in parking assist systems. Not only this, but also key market players have started focusing on expanding their ultrasonic sensor product portfolios by making new launches.
- In 2021, Open type ultrasonic sensors dominating the market with the revenue share of 65%.
On the basis of structure type, the global ultrasonic sensors market is segmented into Open-type Ultrasonic Sensor, Closed-type Ultrasonic Sensor. Among these, the open type ultrasonic sensors are dominating the market with the revenue share of 65% owing to its rising acceptance of smart home devices like home intrusion prevention systems and door lock systems. It helps in estimating the distance between devices and object by using the time difference of ultrasonic waves in the air. Apart from this it also offers various other benefits like consistent performance, compact installation, non contact detection and high precision. Various OEMs have started focusing to develop application specific open type ultrasonic sensor for addressing the increasing miniaturization demand in electronics segment.
- In 2021, level measurement segment is anticipated to witness growth rate of 10%.
Based on application, the global ultrasonic sensors market is segmented into Level Measurement, Obstacle Detection, Distance Measurement. Among these, the level measurement segment is expected to forsee the growth rate of 10% owing to the increasing development in the global oil and gas sector. Not only this but it also monitors the oil and gas level in the storage units of processing plants and refineries. Additional increasing investment activities in the private and public sectors for supporting oil and gas industry will boost the industry expansion over the predicted time frame.
- In 2021, industrial segment to reach USD 1.5 billion by 2030.
On the basis of industry vertical, the global ultrasonic sensors market is segmented into Automotive, Consumer Electronics, Industrial, Healthcare, Aerospace & Defense. Among these, the industrial segment is anticipated to reach the market revenue of USD 1.5 billion by the end of the forecast period owing to the increasing integration of ultrasonic sensor in robotics as well as industrial automation applications. Apart from this, the rise in the investments made by the government in supporting the development of new robotics technology is going the support the market value.
Regional Segment Analysis of the Ultrasonic Sensors Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
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Asia Pacific emerged as the largest market for the global Ultrasonic Sensors market in 2021.
In 2021, Asia Pacific region is dominating the market by holding the largest market share of 50% and is anticipated to register the growth of 10%. The main reason behind the regional growth is increasing initiatives and investment made by the government for promoting AI-based robots in surveillance systems.
List of Key Market Players
- Omron Corporation
- Honeywell International, Inc.
- Rockwell Automation Inc.
- Pepperl+Fuchs AG
Ultrasonic Sensors Market, By Type
- Retro-reflective Sensor
- Through beam Sensor
Ultrasonic Sensors Market, By Structure Type
- Open Type Ultrasonic Sensor
- Closed Type Ultrasonic Sensor
Ultrasonic Sensors Market, By Application
- Level Measurement
- Obstacle Detection
- Distance Measurement
Ultrasonic Sensors Market, By Industry Vertical
- Consumer Electronics
- Aerospace & Defense
Ultrasonic Sensors Market, By Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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