The global ultrasonic sensors market is estimated to be valued at US$ 5968.93 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ultrasonic sensors are non-contact sensors that measure the distance to an object by using reflected sound waves. They are primarily used for industrial applications like detection of objects, proximity detection, anti-collision detection andthickness measurement. These sensors are being increasingly used in industrial automation, smart home devices and AI enabled systems due to their non-contact sensing ability and cost effectiveness.
Market key trends:
One of the key trends in the ultrasonic sensors market is the rising adoption of AI applications. Ultrasonic sensors combined with AI capabilities are enabling advanced sensing abilities. For example, ultrasonic sensors are being integrated with computer vision in autonomous mobile robots and drones for navigation, proximity detection and collision avoidance. Similarly, ultrasonic sensor based proximity detection is being incorporated in AI voice assistants to detect user's presence for automatic wake up. Integration of ultrasonic sensing with AI is expected to open up new application opportunities for autonomous machines and smart home automation systems.
Segment Analysis:
The global ultrasonic sensors market is segmented by technology, application, and region. Based on technology, the non-contact type segment dominates the market and is expected to grow at a high CAGR during the forecast period. Non-contact ultrasonic sensors offer various advantages like high accuracy, wear resistance, non-contact detection, and corrosion resistance. This type of sensors is extensively used for applications involving object detection, distance measurement, anti-collision, etc.
Key Takeaways:
The Global Ultrasonic Sensors Market Demand is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing demand for non-contact proximity sensing solutions across industries.
Regional analysis:
North America dominates the ultrasonic sensors market currently and is expected to continue its dominance during the forecast period. Rapid industrialization and presence of major players in the US and Canada are some major factors responsible for market growth in the region. Asia Pacific is expected to be the fastest growing market for ultrasonic sensors due to rising automation in industrial sectors in emerging economies like China and India.
Key players:
Key players operating in the ultrasonic sensors market are Keyence Corporation, Pepperl+Fuchs, Honeywell International Inc., Baumer Ltd., Rockwell Automation, Murata Manufacturing Co. Ltd., Omron Corporation, Sick AG, Banner Engineering, Baluff Inc., Robert Bosch GmbH, Qualcomm Incorporated, TDK Corporation, Sensata Technologies, and Denso Corporation. Keyence Corporation holds the highest market share currently due to its diverse product portfolio and strong global presence.
Read More - https://www.insightprobing.com/ultrasonic-sensors-market-growth-and-outlook-analysis/
COVID-19 Impact Analysis on Ultrasonic Sensors Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the ultrasonic sensors market include Balluff Inc., Banner Engineering Corp., Baumer, Hans Turck GmbH & Co. KG, Ifm electronic GmbH, Murata Manufacturing Co., Ltd., Omron Corporation, Pepperl+Fuchs GmbH, SICK AG, and Siemens.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Ultrasonic Sensors Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/ultrasonic-sensors-market/download-sampleMarket DynamicsThe key factors driving ultrasonic sensor market are increasing implementation of industrial automation, increasing application of ultrasonic waves in the healthcare industry and considerable amount of investment for sensors in the agricultural industry.
Furthermore, extensive use of ultrasonic devices in the automotive industry is expected to boost demand for ultrasonic sensors, for instance, safety alarms, parking assistance, automatic brake system, and collision avoidance.
However, lower accuracy in comparison to other available optical sensors and lack of manufacturing expertise will restrain ultrasonic sensor market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
Ultrasonic sensors are used to improve the operational efficiency and provide additional safety in manufacturing facilities.
This is one of the major factors fueling the demand for ultrasonic sensors globally.The need for demand of automation and focus on improvement of production efficiency has increased across industries such as automotive, chemical, construction, and food and beverages among others.
Moreover, increasing demand for advanced features such as automatic steering controls, park assist system, blind spot detection and adaptive cruise control is also expected to have a positive impact on the demand for ultrasonic sensors globally.Request For Report Sample:https://www.trendsmarketresearch.com/report/sample/3573 The rising concern for driver safety has ensured the integration of antilock braking systems (ABS) in most of the vehicles.
In addition, the emerging concept of wearable medical devices is also aiding to the growth of the market.
These factors are driving the growth for the market during the forecast period.By types, the market is divided into ultrasonic proximity sensors, ultrasonic retro-reflective sensor, ultrasonic through beam sensor, ultrasonic 2 point proximity switches.
By industry the market is categorized into automotive, power and gas & oil, chemical, agriculture, construction, pulp and paper, material handling, food and beverage, medical and healthcare and aerospace and defense among others.
Ultrasonic sensors are used to improve the operational efficiency and provide additional safety in manufacturing facilities.
This is one of the major factors fueling the demand for ultrasonic sensors globally.The need for demand of automation and focus on improvement of production efficiency has increased across industries such as automotive, chemical, construction, and food and beverages among others.
Moreover, increasing demand for advanced features such as automatic steering controls, park assist system, blind spot detection and adaptive cruise control is also expected to have a positive impact on the demand for ultrasonic sensors globally.The rising concern for driver safety has ensured the integration of antilock braking systems (ABS) in most of the vehicles.
In addition, the emerging concept of wearable medical devices is also aiding to the growth of the market.
The ultrasonic sensors can be used to visualize the internal parts of the human body without causing any negative impact.
These factors are driving the growth for the market during the forecast period.By types, the market is divided into ultrasonic proximity sensors, ultrasonic retro-reflective sensor, ultrasonic through beam sensor, ultrasonic 2 point proximity switches.
