Dhabi, UAE, May 03, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Ultrasonic Sensor Market Research Report: By Type, Applications, End-Users - Forecast Till 2030, the market is anticipated to acquire a valuation of approximately USD 16 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 13 % during the assessment timeframe.
Ultrasonic devices typically replace infrared (IR) sensing for precise range measurement, accurate positioning, presence detection, and collision avoidance. Ultrasonic sensors allow accessibility and availability of a variety of automatic devices. Therefore, ultrasonics is increasingly used to enhance precision in devices measuring the resolution and accuracy of the location.
The ultrasonic sensor technology has already been deployed in a range of industries, including oil & gas, chemical, and nuclear & mining. Significant investments are made in developing technology solutions to address some major challenges faced by the energy industry.
Sensor technology specialists are breaking new ground with ultrasonic sensor technology for mobile machine applications used in the construction industry. Construction machinery and off-road vehicle manufacturers use E1-approved ultrasonic sensors. The emergence of ADAS-specific ultrasonic sensors is expected to substantiate the market value further.
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Ultrasonic Sensor Market Key Players
Players leading the ultrasonic sensor market include
- Pepperl+Fuchs GmbH (Germany),
- Siemens AG (Germany),
- Honeywell International, Inc (US).,
- Rockwell Automation, Inc (US),
- Murata Manufacturing Co. Ltd (Japan),
- Robert Bosch GmbH (Germany),
- Endress+Hauser (Switzerland),
- Schneider Electric SE (France),
- Baumer Ltd (Italy),
- MaxBotix Inc (US), and
- Omron Corporation (Japan), among others.
Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 16 Billion |
| Growth Rate | CAGR of 13 % from 2023 to 2030 |
| Base Year | 2022 |
| Study Period | 2023-2030 |
| Key Market Opportunities | The rising adoption of smart factories and industrial automation |
| Key Market Drivers | The rising adoption of Ultrasonic sensors in the industries for manufacturing The increasing adoption of smart factories |
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Industry Trends
The global ultrasonic sensor market is growing at a rapid pace, witnessing increasing industrial applications. Ultrasonic sensors find extensive applications in the automotive sectors globally. Increasing demand for efficient advanced driver assistance systems (ADAS), allowing drivers to move safely and conveniently, superbly substantiates the global ultrasonic sensor market share.
Lately, ultrasonic sensors have started gaining huge market prominence, accounting for governmental approaches toward automobile, driver, and passenger safety. Besides, rapid advances in sensing technologies, alongside the increasing adoption of ultrasonic sensing for devices monitoring social distancing, influence the growth of the market. The growing use of ultrasonics in distancing technologies, ultrasonic range-finding and tracking methods fosters market growth.
The major growth of ultrasonic sensors for detection, pallet detection, and distance measurement is driving demand in the various industrial sectors. The food & beverages industry is the chief driving factor due to the wide usage of these sensors for multiple purposes like processing, material handling, and hygiene detection are the key market drivers enhancing market growth.
Additionally, the rising adoption of robotics in various sectors, including healthcare, logistics, manufacturing, and others, positively impacts market growth. The demand for ultrasonic sensors from medical sectors is increasing as these sensors help medical devices and instruments offer risk-free operations, substituting radiography solutions and piezoelectric sensors.
Ultrasonic Sensor Market Segments
The ultrasonic sensor market report is segmented into product, application, and region. The product segment is sub-segmented into ultrasonic through-beam sensors, ultrasonic proximity sensors, ultrasonic retro-reflective sensors, and others. The application segment is sub-segmented into anti-collision detection, distance measurement, liquid level measurement, object detection, and others. By regions, the market is sub-segmented into Asia-Pacific, Americas, Europe, and rest-of-the-world.
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Ultrasonic Sensor Market Regional Analysis
Europe and APAC dominate the global ultrasonic sensor market, accounting for sizable market shares globally. The rising adoption of automation for efficient manufacturing and improved communication further increases the region's market size, improving flexibility in manufacturing processes.
Moreover, increasing smart city projects in a number of APAC and European countries boost the size of the market. China and Germany account for sizable market shares due to the high presence of ultrasonic sensor manufacturing companies. These countries also export ultrasonic sensors for different applications across the globe.
North America also holds a substantial share of the ultrasonic sensor market. The region is expected to witness rapid growth in the recent future, attributed to increasing investments in the production of sensors and expansion by key ultrasonic sensor manufacturers. Additionally, the increasing application of ultrasonic sensors in advanced driver assistance systems (ADAS) and industrial measurement devices contributes to the ultrasonic sensor market growth.
Competitive Analysis
Fiercely competitive, the ultrasonic sensor market appears fragmented, with several large and small forming a competitive landscape. These players adopt strategic approaches such as mergers & acquisitions, collaboration, expansion, and new product/technology launches to gain a substantial market share.
New product launches and improvements are inevitable in the wake of government regulations and increasing consumer demand for vehicle safety and advanced comfort features. Leading multinational semiconductor manufacturers make significant investments in developing and launching ultrasonic sensors. The competitive nature of this market is expected to intensify further as more products enter the mass market.
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For instance, on Nov.17, 2022, Bengaluru-based EssaeTeraoka, a leading manufacturer of electronic weighing scales, milk analyzers, point of sale (POS) terminals, and GPS clocks under the brand name Essae, launched India's first and only made-in-India dual ultrasonic sensor milk analyzer, Essae MA-825 for the dairy industry. The new milk analyzer is industrially designed in Germany and fully engineered & built in India.
The aesthetically and elegantly styled Essae MA-825 is very simple to use. It has a dual ultrasonic sensor for quick and precise measurement of fat, SNF, and added water content analysis of milk samples. The ultrasonic sensors used in these analyzers are entirely conceived, engineered, and built-in in India. Another uniqueness of the new device is that it analyzes and shows results in just twenty-three seconds at 30 degree Celsius.
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