Ultrasonic Sensor Market worth over $5bn by 2027

Ultrasonic Sensor Market size is set to surpass USD 5 billion by 2027, according to a new research report by Global Market Insights, Inc.
 

The ultrasonic sensor market growth is due to the rising penetration of smart consumer devices across the globe. Smart consumer devices, such as laptops, smartphones, and tablets, are integrated with ultrasonic sensor for biometric sensing and security applications. These sensors can capture highly sensitive databases such as fingerprint, facial recognition, and other biometrics. Tech giants, such as Samsung, Huawei, and Xiaomi, are focusing on integrating ultrasonic sensor in their upcoming smartphones, which will drive the market expansion.

 

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Slow response speed and accuracy compared to optical sensors are major factors restraining the industry growth. Ultrasonic sensor is based on ultrasound waves and are less reliable compared to LiDAR, radar, and infrared-based devices when operated in high-temperature environments. These sensors are integrated with separate emitter and receptor components that increase the device footprint, further hampering the market value. To overcome this, market players are developing sensors based on newer form factors such as ICs and chipsets.
 

Proliferation of through-beam sensors in the food & beverage sector will spur the ultrasonic sensor market progression

Ultrasonic Sensor Market By Type

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The through-beam segment held 19% of the market share in 2020 and will witness 14% growth rate through 2027 led by the increasing adoption of these sensors in the food & beverage sector. Ultrasonic through-beam sensors are incorporated with both transmitter and receiver end in separate housings, increasing their precision and accuracy with a minimum error margin. These sensors offer several high-end features, such as a large transmission range and shorter response time, compared to retro-reflective sensors.
 

Rising trend toward the acceptance of ADAS will accelerate the market revenue

The obstacle detection segment captures more than 17% of the ultrasonic sensor market share in 2020 and is anticipated to grow at a CAGR of 9.5% by 2027 owing to the increasing demand for features, such as obstacle detection and parking assistance, in ADAS and self-driving cars. Ultrasonic sensor detects nearby obstacles and avoid collision with objects. Major automotive OEMs, such as Tesla, Waymo, Volvo, and Audi AG, are extensively focusing on achieving Level-V autonomy in their upcoming vehicles. Market participants are therefore emphasizing on developing technically advanced ultrasonic sensor to cater to the growing demand from the automotive industry.
 

Browse key industry insights spread across 170  pages with 339 market data tables and 29 figures & charts from the report, “Ultrasonic Sensor Market Size, By Type (Retro-reflective Sensor, Through-beam Sensor), By Application (Level Measurement, Obstacle Detection, Distance Measurement), By Industry Vertical (Automotive, Consumer Electronics, Industrial, Healthcare, Aerospace & Defense), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/ultrasonic-sensors-market 

 

Proliferation of robotics & automation across developed economies will propel the ultrasonic sensor market demand

The industrial segment accounted for 29% of revenue share in 2020 and is predicted to expand at a CAGR of more than 17.5% till 2027 driven by the rising penetration of robotics and industrial automation across developed economies such as China, Japan, the U.S., and South Korea. According to a September 2020 press release by the International Federation of Robotics, China installed 140,500 units of industrial robots, which accounted for 37.6% of the total global installation in 2019. Adding to this, the country has an overall operational stock of 783,000 units of industrial robots. These industrial robots are extensively integrated with ultrasonic sensor for object detection, material handling, sorting, and pick & place applications. Favorable government initiatives will boost smart manufacturing facilities in these economies, further fostering the industry progression.  
 

Growing adoption of surveillance drones in the U.S. will create the opportunities for North America region

The North America ultrasonic sensor market is estimated to attain a CAGR of 13% through 2027 on account of the increasing usage of Unmanned Aerial Vehicles (UAVs) and surveillance drones in the U.S. According to an April 2021 press release by the Federal Aviation Administration (FAA), 1.1 million units of operational UAVs and drones were present in the U.S. as of 19th April 2021. Out of the 1.1 million units of operational UAVs and drones, commercial UAVs accounted for 367,848 units while recreational drones accounted for 502,105 units. These UAVs are integrated with ultrasonic sensor for distance measurement, surveillance, inspection, mapping, and delivery applications. Commercial UAVs are also expected to observe high demand from the U.S. e-commerce industry for delivery services in the coming years. This will further fuel the U.S. industry expansion during the forecast period.
 

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

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