The Global Ultrasonic Sensors Market size is expected to reach $5.9 billion by 2026, rising at a market growth of 9.5% CAGR during the forecast period. The ultrasonic sensors produce a shorter wavelength which is transformed into a higher resolution for image processing. It is because of the high frequencies of the ultrasonic sensors as compared to electromagnetic sensors. Due to this, these systems are actively adopted in the healthcare applications like radiography. Moreover, the systems are implemented in autonomous mobile robots (AMRs) for the identification of obstacles and managing the vehicle’s distance from the nearest obstacle. Owing to this, the rising demand for AMRs in the industries like healthcare, energy, automotive, and oil & gas, is anticipated to boost the growth of the market.
The rising demand for the features like parking assistance and collision detection in driverless cars is likely to propel the market growth in recent years. Ultrasonic sensors identify the distance of the nearest obstacle and assist in avoiding collision with the obstacle. Moreover, technological companies like Waymo LLC, Cruise LLC, and Zoox are aimed at the growth and provision of self-driving car services that predict the growth of the market. For example, Waymo LLC in December 2018 announced that they will launch a self-driving car service in the city of Phoenix, U.S Arizona. Furthermore, many companies like Texas Instruments Incorporated, Murata Manufacturing Co., Ltd., and NXP Semiconductors, are aiming for the development of ultrasonic sensors for Advanced Driver Assistance System (ADAS), which will propel the market growth.
The coronavirus pandemic has seriously affected the automotive component industry. The auto components involve brakes, batteries, and various sensors. This is expected to impact the growth of the market. During the pandemic, disruption of Chinese exports, and the operations of assembly plants in the European region, the utilization of robotics in the identification of COVID-19 have positively affected the adoption of these systems. Robotic systems help in assisting the automatic process of taking blood and decrease the risk of infections to medical professionals.
Based on End User, the market is segmented into Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, Industrial and Others. The healthcare category is estimated to record the highest CAGR during the forecast period because of the increasing demand for ultrasonography and ultrasonic scanning. Ultrasonic scanning utilizes ultrasonic waves to create images of internal organs and tissues. Moreover, there is a rising demand for ultrasonic sensors in Ultrasonic Surgical Instruments (USI) that are estimated to provide profitable opportunities to market players. USIs, along with the help of ultrasonic sensors, transform an ultrasonic signal into a mechanical vibration.
Based on Type, the market is segmented into Level Measurement, Distance Measurement, Obstacle Detection and Others. The obstacle detection category is expected to record a significant market share in 2019 due to the rising utilization of the system in collision avoidance systems of automobiles. Strict government policies and regulations in relation to the installation of vehicle safety features like collision avoidance systems and airbags have boosted the growth rate of the segment. The segment is also estimated to get a boost from the increasing deployment of parking assistance systems that utilizes an integration of ultrasonic sensors and vision-based systems in vehicles manufactured by companies like Audi AG and BMW AG. Furthermore, the rising adoption of the systems in robotics for obstacle identification has further boosted the growth of the segment.
Based on Technology, the market is segmented into Retro-reflective Sensor, Through-beam Sensor and Others. Based on technology, the retro-reflective category held the major market share in 2019. This is due to the benefits offered by these sensors, which include low maintenance costs, installation costs, and reliability in identifying transparent objects. Besides this, retro-reflective sensors provide simple optical axis adjustment and wiring that makes them easier to deploy. Moreover, the increasing adoption of retro-reflective systems in throttle control and precision position measurement of automobiles boosts the growth of the segment.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 3.6 Billion |
| Market size forecast in 2026 | USD 5.9 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 9.5% from 2020 to 2026 |
| Number of Pages | 230 |
| Number of Tables | 390 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Technology, Type, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific region is estimated to record a significant CAGR during the forecast period due to the rising demand for factory automation in the region’s manufacturing sector. The swift expansion of the region’s automotive manufacturing industry is expected to boost the demand for these systems. Ultrasonic sensors are utilized in consumer electronics like gaming consoles, cleaning robots, and smartphones. That resulted in the region’s rapid increase in the consumer electronics industry predicted to do well for the growth of the market in this region.
Free Valuable Insights: Global Ultrasonic Sensors Market to reach a market size of $5.9 Billion by 2026
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Murata Manufacturing Co., Ltd., Rockwell Automation, Inc., Sick AG, Siemens AG, Baumer Holding AG, Balluff GmbH, IFM Electronics GmbH, Hans Turck GmbH & Co. KG, and Pepperl+Fuchs Group.
By Technology
By Type
By End User
By Geography
Companies Profiled
The ultrasonic sensors market size is projected to reach USD 5.9 billion by 2026.
The major factors that are anticipated to drive the ultrasonic sensors industry include the wide use of ultrasonic sensors to propel the market demand.
Honeywell International, Inc., Murata Manufacturing Co., Ltd., Rockwell Automation, Inc., Sick AG, Siemens AG, Baumer Holding AG, Balluff GmbH, IFM Electronics GmbH, Hans Turck GmbH & Co. KG, and Pepperl+Fuchs Group.
The expected CAGR of ultrasonic sensors market is 9.5% from 2020 to 2026.
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