New York, USA, March 29, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global ultrasonic displacement sensor market valued for $2,627.6 million in 2018 and is expected to garner $4,736.6 million by 2025, growing at a CAGR of 8.8% in the forecast period from 2019 to 2025. The global market is segmented based on sensor type, component, transducer type, end user, and region. The report offers detailed insights on drivers, opportunities, restraints, challenges, and key players of the market.
The growing demand from the industrial and healthcare sector are the significant factors expected to drive the growth of the global ultrasonic displacement sensor market during the forecast period. On the other hand, operational issues with ultrasonic displacement sensors and the dominance of other form of sensors are anticipated to hamper the growth of the global market in the near future.
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Market Segmentation
Based on sensor type, the global market is bifurcated into contact and non-contact.
Based on component, the overall market is categorized into electronic components, amplifier, transducer, and others.
Based on transducer type, the global market is segmented into electrostatic, piezoelectric, electromagnetic, magnetostrictive, and others.
Based on end user, the global market is categorized into healthcare, industrial, and others.
Based on region, the overall market is divided into Asia Pacific, North America, LAMEA, and Europe. The North America region is predicted to subjugate the global industry by the end of 2025, owing to the presence of several healthcare giants in the region. Besides, the per capita health expenditure in the U.S. is higher than other countries, which is other factor to propel the regional market growth.
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Prominent Market Players
The key players operating in the global ultrasonic displacement sensor industry include
- Siemens AG
- ABB
- Pepperl+Fuchs
- Baumer Ltd
- Honeywell International Inc.
- Rockwell Automation
- Omron Corporation
- Murata Manufacturing Co. Ltd
- Banner Engineering
- Sick AG.
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Further, the report presents and outlines several aspects of these key players such as SWOT analysis, business performance, recent strategic moves & developments, and product portfolio.
Mergers & acquisitions, partnerships, collaborations, and new product launches are some of the growth strategies adopted by these key players to obtain a leading position in the global industry. For instance, in July 2019, Toposens announced the launch of ultrasonic sensor ‘TS3’ for close-range perception. TS3 is a 3D ultrasonic sensor that is suitable for an extensive range of applications in the autonomous systems industry, which requires a robust need for reliable detection of objects and situational awareness.
In Addition, the report having some numorus point about the leading Business Manufactures Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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