Ultrasonic Sensors Market Size, By Type (Retro-reflective Sensor, Through-beam Sensor), By Application (Level Measurement, Obstacle Detection, Distance Measurement), Industry Verticals (Automotive, Consumer Electronics, Industrial, Healthcare, Aerospace & Defense), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Apr 2021  |  Report ID: GMI5048  |  Authors: Preeti Wadhwani, Shubhangi Yadav

Report Format: PDF   |   Pages: 170   |   Base Year: 2020

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Ultrasonic Sensors Market size was valued at around USD 2 billion in 2020 and is estimated to grow at a CAGR of over 10.5% from 2021 to 2027. The global industry shipments are projected to reach 3.5 billion unit by 2027.

Ultrasonic Sensors Market Overview

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Increasing trend toward home automation and installation of IoT devices in developing nations is propelling the market growth during the forecast timeline. The ultrasonic sensors aid to improve the performance and convenience with low energy consumption, accelerating their demand in smart home devices and monitoring applications.

The companies are adopting ultrasonic sensors for improved ranging and object detection capabilities in automated robots such as self-guiding vacuum cleaner. To cater to high demand in the growing home automation market, the companies are continuously boosting their innovations in ultrasonic sensing technology. For example, the development in 3D ultrasonic sensor delivers simultaneous measurement of multiple objects and helps to reduce processing power and transmission bandwidth.

The ultrasonic sensor is used to measure the distance of targeted objects by emitting ultrasound waves and converting the reflected sound to an electrical signal. These sensors are equipped with two major components, transmitter and receiver, which help to measure the sensor distance with object. These sensors are used in a wide range of applications such as distance measurement, presence detection, loop control, and liquid level control, among others.

COVID-19 has severely affected the ultrasonic sensors market with the slowdown of supply chain and decline in demand from various manufacturing plants of oil & gas, chemical, among others. In the first half of 2020, stringent lockdown was imposed by several nations, which influenced the market players to slow their production or close their operation for a short-term period. After the pandemic, the manufacturing sector is more inclined toward adopting industrial automation to spur production and showcase less dependency on labors. Adding to this, the pandemic has propelled development and innovations in the medical sector, which has accelerated the growth opportunities in medical diagnostic applications.

High precision and detection capability of retro-reflective sensors will fuel the industry growth

The retro-reflective sensor captured 35% of the market share in 2020 and is poised to show a reasonable growth of 17% by 2027, owing to the rising adoption in automotive applications such as parking assists. These sensors offer high reliability in detection of vehicles and transparent objects, impelling the market potential in new vehicle safety technologies.

The retro-reflective sensors include simple optical axis and wiring, which ease their deployment and reduce the maintenance and installation cost. These features further increase their usage in industrial applications for precision position measurements. Also, retro-reflective sensors provide improved operations compared to standard ultrasonic and optical sensors in dusty and fiber-laden environment, increasing their acceptance in textile and carpet manufacturing.

Increasing adoption of ultrasonic sensors in the oil & gas sector will accelerate the market demand

Ultrasonic Sensors Market Analysis

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The level measurement application held more than 40% of the ultrasonic sensors market share in 2020 and will grow at a CAGR of around 11% through 2027, led by the rising usage of ultrasonic sensors for level measurement in production facilities of food & beverages, oil & gas, among others. The increasing acceptance of ultrasonic sensing for level monitoring of processing plants and storage units in oil & gas refineries will drive the market opportunities.

Rising initiatives by governments to simulate the oil & gas sector in developing nations will spur the market progression. For example, in February 2021, the Government of India announced to invest around USD 100 billion in infrastructure development in the regional oil & gas sector over the next five years. These initiatives will positively foster the market leaders to enhance their development for application-specific ultrasonic sensors.

Proliferation of advanced safety systems in vehicles will boost the market revenue

Ultrasonic Sensors Market Share

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The automotive segment accounted for 25% in 2020 and is predicted to expand at a CAGR of more than 12% by 2027. Ultrasonic sensors are gaining increasing usage in automotive safety applications, such as collision avoidance, blind spot detection, and parking assistance, accelerating their demand in the industry. These sensors offer high frequency, sensitivity, and penetrating power, increasing the capability of automotive safety systems for object detection and distance measurement.

Increasing government efforts toward road safety and avoiding vehicle accidents have accelerated the adoption of automotive safety systems, adding an advantage to the market. In November 2019, European Union announced to mandate the installation of blind spot detection for trucks and buses by 2022. These initiatives will positively influence the market players to impel their development activities.

Favorable government policies to support domestic manufacturing will augment the industry expansion

Ultrasonic Sensors Market Size

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Asia Pacific ultrasonic sensors market captured over 50% of revenue share in 2020 and is set to attain a CAGR of 11% through 2027 driven by rising government efforts to fuel the manufacturing sector in China, South Korea, India, Japan, among others. For example, in June 2020, the South Korea government announced a funding of around USD 16.8 million for relocation and advancing domestic business expansion. The government is also planning to increase the assistance for smart factory acceptance and utilization of industrial robots. These initiatives will foster the market opportunities for ultrasonic sensor manufacturers in the region.

Focus on new product innovations to stay competitive in the market

Key companies operating in the market are Pepperl+Fuchs AG, Rockwell Automation Inc., Murata Manufacturing Co., Ltd., Banner Engineering Corp., TDK Corporation, TE Connectivity Ltd., among others. Market leaders are continuously involved in new product development and research & development activities to have a high competitive edge over other players.

The ultrasonic sensors market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Type

  • Retro-reflective Sensor
  • Through-beam Sensor
  • Others

Market, By Application

  • Level measurement
  • Obstacle detection
  • Distance measurement
  • Others

Market, By Industry Verticals

  • Automotive
  • Consumer electronics
  • Industrial
  • Healthcare
  • Aerospace & defense
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • GCC
    • South Africa

Frequently Asked Questions (FAQ) :

The ultrasonic sensors industry size exceeded an annual value of USD 2 billion in 2020 and will record around 10.5% CAGR up to 2027 with rising trend of home automation as well as installation of IoT devices.
Retro-reflective sensors accounted for over 35% of ultrasonic sensors market share in 2020 and will witness a growth of more than 17% up to 2027 with adoption in automotive applications like parking assists.
The industry size from level measurement applications reached over 40% of the revenue share in 2020 and will expand at an 11% CAGR up to 2027 led by rising product adoption in food & beverages, oil & gas production facilities.
The automotive industry vertical segment held more than 25% share of the market in 2020 and is poised to register at a CAGR of over 12% up to 2027.
Asia Pacific was responsible for more than 50% of the market revenue in 2020 and could observe an 11% CAGR through 2027 with surge in government efforts to expand the manufacturing sector across China, South Korea, India, and Japan.

Premium Report Details

  • Published Date: Apr 2021
  • Pages: 170
  • Tables: 339
  • Charts / Figures: 29
  • Companies covered: 22
  • Countries covered: 17

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