Ultrasonic Sensor Market size is set to surpass USD 5 billion by 2028, according to a new research report by Global Market Insights Inc.
The ultrasonic sensor market growth is owing to its rising implementation in the medical point of care devices such as ultrasound machines and blood glucose meters. These sensors are highly incorporated in medical imaging devices such as radiography and ultrasonography equipment. The equipment is used to provide images of internal body structures such as tendons, bones, ligaments, and internal organs in real-time. Additionally, several regional manufacturers are focusing on incorporating ultrasonic sensor in their medical devices to address the rising market demand.
One of the major factors limiting ultrasonic sensor adoption is its limited detection capacity in long-range detection applications. It can easily identify items that fall within its measurable range, but it cannot differentiate between different sizes and forms. This can be addressed by using multiple sensors in sensing devices. Furthermore, these sensors are extremely sensitive, allowing them to detect false signals generated by natural airwaves. This results in a false detection of the targeted object, further hampering the industry growth during the forecast timeline.
The rising demand for precise proximity sensing technology in the industrial sector will positively impact the ultrasonic sensor market expansion
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The through beam sensor segment held a market share of over 15% in 2021 driven by the numerous high-end features offered such as large transmission range, shorter response time, and accurate proximity sensing. This has encouraged its usage in electrical meters, ultrasonic light switches, automated guided vehicles, and collaborative robots. Several industry participants are mainly focused on extending their product portfolios in order to meet the high industry demand.
Browse key industry insights spread across 320 pages with 527 market data tables and 29 figures & charts from the report, “Ultrasonic Sensors Market Size, By Type (Retro-reflective Sensor, Through-beam Sensor), By Structure Type (Open-type Ultrasonic Sensor, Closed-type Ultrasonic Sensor), By Application (Level Measurement, Obstacle Detection, Distance Measurement), Industry Verticals (Automotive, Consumer Electronics, Industrial, Healthcare, Aerospace & Defense), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
Growing demand for water and dustproof home appliances to spur the market value
The close structure type segment is expected witness around 7% growth rate through 2028 led by the numerous high-end features offered such as dust & waterproof structure, improved durability, wide temperature range, high reliability, and ability to operate in multiple frequencies. It is widely adopted in multiple smart home applications such as motion control, range finder, intruder alert, and automatic door systems, among others. Moreover, OEMs are focusing on developing application-specific solutions to gain a competitive edge in the market.
Increased penetration of automation technologies in the manufacturing sector will influence the ultrasonic sensor market revenue
The distance measurement segment is projected to reach USD 2 Billion by 2028 due to the rising adoption of ultrasonic sensor to detect objects of any color or composition for distance measurement. This characteristic promotes its acceptance in process control operations in industrial manufacturing sectors. It requires less maintenance which increases their usage in material handling robots and automation equipment for distance measurement applications. The growing use of industrial robots in major economies, such as China, Japan, and the U.S., will create new prospects for segment growth.
The growing adoption of electric vehicles to reduce CO2 emissions to support the market progression
The automotive segment in the ultrasonic sensor market captured more than 25% of revenue share in 2021 impelled by the rising government initiatives to promote the acceptance of autonomous and electric vehicles to reduce emission levels. For instance, in April 2021, The UK government gave authorization to test on-road autonomous vehicles in the country. The UK government has also declared that by 2021, vehicle manufacturers would be able to include the Automated Lane-Keeping System (ALKS) with speed limitations of up to 37mph in their vehicles. These systems are integrated with ultrasonic sensor, allowing drivers to make collision-related decisions, thereby fueling industry expansion in the coming years.
The rising adoption of drones for logistics and transportation sectors will accelerate the industry progression
North America ultrasonic sensor market is estimated to attain a CAGR of 12% till 2028 on account of the increasing popularity of surveillance drones and Unmanned Aerial Vehicles (UAVs) in the region is fostering the industry value. According to a press release issued by the Federal Aviation Administration (FAA) in April 2021, there were 1.1 million functional UAVs and drones in the U.S. Commercial UAVs accounted for 367,848 of these operating UAVs & drones, while recreational drones accounted for 502,105. These UAVs are mounted with ultrasonic sensor for multiple applications such as surveillance, distance measurement, inspection, mapping, and transportation. The growing e-commerce sector in the country will propel the acceptance of UAVs in delivery services, further expanding the industry revenue.
The key players operating in the ultrasonic sensor market include Baumer Group, Balluff, Inc., Honeywell International, Inc., Pepperl+Fuchs AG, and Murata Manufacturing Co. Ltd. These leaders are focusing on development and innovative solutions through mergers & acquisitions to gain a competitive edge in the market.