Home > Pressrelease > Ultrasonic Sensors Market size to surpass $12 Bn by 2032
Ultrasonic Sensors Market size to surpass $12 Bn by 2032
- Published Date: April 5, 2023
Ultrasonic Sensors Market size is projected to reach over USD 12 billion by 2032, according to a recent research report announced by Global Market Insights Inc.
Increasing penetration of piezo technology in healthcare is expected to have a positive impact on the ultrasonic sensor industry outlook. Ultrasonic piezo sensors are used in various medical applications including pharmaceutical devices, spirometry, air bubble detection & flow measurement in infusion systems, and patient monitoring. These devices are compact and robust with low energy and offer exceptional reliability. Moreover, the rising prevalence of chronic diseases has accelerated the use of ultrasonic sensors to image internal organs such as breasts, heart, eyes, and vascular system.
Increasing production of through-beam sensors to drive market expansion
Ultrasonic sensors market valuation from through-beam sensors is estimated to record USD 3 billion by the end of 2032. The surging demand for through-beam sensors can be attributed to the dynamic growth in manufacturing activities. For instance, as per the Ministry of Statistics and Programme Implementation (MOSPI), India’s manufacturing production increased by more than 2.5% in December 2022 as compared to the same month last year. Furthermore, through-beam sensors are primarily used to detect the edges of objects and effectively monitor passages, and count parts, hence adding positive impetus to the industry growth.
Rising need for remote monitoring and detection to propel adoption of closed-type ultrasonic sensors
In terms of revenue, the ultrasonic sensors market share from closed-type ultrasonic sensors surpassed USD 2 billion in 2022. Closed-type ultrasonic sensors are gaining substantial traction owing to their durability and waterproof nature. These obstacle sensors allow operators to remotely locate the sensing element across any control circuit. The growing demand for liquid meters and vehicle rear detection is also expected to propel the use of closed-type ultrasonic sensors. Moreover, the growing emphasis on waterproof ultrasonic sensors as an alternative to conventional radar systems will positively influence the industry outlook.
Browse key industry insights spread across 300 pages with 486 market data tables and 44 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, Application Potential, Competitive Market Share & Forecast, 2018 – 2032”. , in detail along with the table of contents:
High prevalence of road crashes to accelerate adoption of ultrasonic sensors in distance measurement
Ultrasonic sensors market size from distance measurement applications is anticipated to expand at over 10% CAGR from 2023-2032. The advent of autonomous vehicles and driverless cars is accelerating the demand for ultrasonic sensors for distance measurement. With the increasing number of road traffic accidents, automated features have gained significant demand among consumers to ensure safety while driving. According to the World Health Organization (WHO), globally, between 20 to 50 million people suffer from non-fatal injuries, whereas nearly 1.3 million die annually due to road traffic crashes. Hence, the growing focus of automakers on providing excellent safety features will propel the integration of ultrasonic sensors for distance measurement.
Surging demand for defense & military drones to drive ultrasonic sensors industry share
Ultrasonic sensors market size from the aerospace & defense industry vertical segment is expected to record over 5% CAGR from 2023-2032. Increasing demand for ultrasonic sensors among aerospace manufacturers can be accredited to the rapidly growing deployment of UAVs in the defense sector. These sensors are primarily used for security purposes to ensure no trespassing occurs in military zones. With growing geopolitical tensions and power struggles among developed and developing economies worldwide, several governments are strengthening their military and defense capabilities.
Solid automotive industry footprint to drive ultrasonic sensors industry growth in North America
North America ultrasonic sensors market was worth more than USD 1 billion in 2022. The region is home to a massive number of OEMs specializing in automotive products and parts, thus creating a lucrative environment for next-generation vehicle models featuring ultrasonic sensors. Lately, several giant automobile manufacturers such as GM, Honda, Toyota, and Ford are foraying into the world of fossil-free vehicles and boosting innovation in automotive IoT. Furthermore, favorable government initiatives encouraging the revolution of transportation and infrastructure will favor industry expansion across North America.
New deals & partnerships to boost ultrasonic sensors industry growth
Rockwell Automation Inc., Murata Manufacturing Co. Ltd., Robert Bosch GmbH, TE Connectivity Ltd, Texas Instruments, SCHNEIDER ELECTRIC SE, and TDK Corporation are some of the leading companies in the global ultrasonic sensor market. These participants are working on strategic alliances and collaborations to strengthen their product portfolios.