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Industry Trends
Ultrasonic Sensors Market size exceeded USD 3 billion in 2021 and is anticipated to grow at over 10% CAGR from 2022 to 2028. The global industry unit shipments are projected to reach around 4 billion units by 2028.
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The market growth is attributed to its rising adoption in smart consumer devices such as smartphones, laptops, tablets, and others. These devices are retrofitted with ultrasonic sensor to take advantage of biometric sensing technology for security applications. Several consumer electronic OEMs, such as Samsung and Xiaomi, are integrating these sensors to support fingerprint detection, facial recognition, and biometrics.
The COVID-19 pandemic has hampered the overall supply chain of raw materials & components across the globe. Market participants are facing difficulties in the procurement of raw materials & components coupled with the timely delivery of sensors due to international trade barriers. However, efficient inventory management of major players has added an advantage to maintain continuity in the business operations and R&D initiatives. Moreover, the post-COVID-19 scenario will accelerate technological advancements toward the IoT, AI, and machine learning, thus increasing the requirements for ultrasonic sensor in smart home applications and the medical & industrial automation sectors.
Report Coverage | Details |
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Base Year: | 2021 |
Market Size in 2021: | 3.0 Billion (USD) |
Forecast Period: | 2022 to 2028 |
Forecast Period 2022 to 2028 CAGR: | 10% |
2028 Value Projection: | 5.0 Billion (USD) |
Historical Data for: | 2017 to 2021 |
No. of Pages: | 320 |
Tables, Charts & Figures: | 556 |
Segments covered: | Type, Structure Type, Application, Industry Vertical |
Growth Drivers: |
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Pitfalls & Challenges: |
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Increased demand for retro-reflective sensors in the automotive sector will spur the market expansion
The retro-reflective segment valued at USD 1 Billion 2021 led by the several advantages offered such as user-friendly optical axis, easy deployment, low maintenance, and reduced installation costs. These characteristics have prompted automakers to use retro-reflective sensors in parking assist systems. Key leaders are extensively focusing on expanding their ultrasonic sensor product portfolios through new launches and developments.
Rising miniaturization trend in smart home appliances to propel the open-type sensor market progression
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The open structure type ultrasonic sensors market dominated more than 65% of revenue share by volume in 2021 impelled by its increased acceptance of smart home devices such as door lock systems and home intrusion prevention systems. It estimates the distance between the object and the device, using the time difference of ultrasonic waves in the air. Additionally, it provides several advantages such as compact installation, consistent performance, high precision, and non-contact detection. Several OEMs are focusing on developing application-specific open-type ultrasonic sensor to address the rising miniaturization demand in the electronics sector.
Growing demand for level measurement in the oil & gas sector will fuel the market value
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The level measurement segment is poised to witness 10% growth rate through 2028 on account of the rising development in the global oil & gas industry. It monitors the level of oil & gas in storage units of processing plants and refineries. Furthermore, growing investment activities in the public & private sectors to support the oil & gas sector, will stimulate industry expansion over the coming years.
Increasing usage of robotics and industrial automation technology to support the market demand
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The industrial segment is predicted to reach USD 1.5 billion by 2028 on account of the rising integration of ultrasonic sensor in robotics and industrial automation applications. Growing government investments to support the development of new robotics technology will further support the industry value.
Favorable government initiatives to support the adoption of automation in surveillance systems will influence the growth for APAC region
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Asia Pacific ultrasonic sensors market captured 50% of revenue share in 2021 and is estimated to register growth of 10% during 2022 to 2028. The industry progression is driven by rising government initiatives and investment activities to promote AI-based robots in surveillance systems. For instance, in June 2021, the South Korean government announced an investment of USD 2.5 million through the Defense Acquisition Program Administration (DAPA) to employ moving robots as a part of AI surveillance systems in defense areas. The robot system will search for movements on rail tracks near the North Korean border. Using high-resolution cameras and ultrasonic sensor, the machines will be able to detect and track moving objects. Such initiatives will add lucrative advantages for the deployment of ultrasonic sensor in the military & defense sector.
Focus on strategic collaborations and alliances to remain competitive in the industry
Major players in the market are Honeywell International, Inc., Keyence, Omron Corporation, Pepperl+Fuchs AG, Toposens, Rockwell Automation, Inc. Market participants are increasing their investments in innovative acquisition & merger strategies to maintain a competitive advantage.
The ultrasonic sensors market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028 for the following segments:
Market, By Type
- Retro-reflective Sensor
- Through-beam Sensor
- Others
Market, By Structure Type
- Open type Ultrasonic Sensor
- Closed type Ultrasonic Sensor
Market, By Application
- Level Measurement
- Obstacle Detection
- Distance Measurement
- Others
Market, By Industry Vertical
- 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
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