Ultrasonic Sensors Market

Global Ultrasonic Sensors Market Size (2023 to 2028)

The global ultrasonic sensors market size is expected to be worth USD 5839.88 Million in 2023. It is expected to grow at a CAGR of 10.31% during the forecast period and reach a value of USD 9538.46 Million by 2028.

An ultrasonic sensor is an electronic device that emits ultrasonic sound waves and converts the reflected sound into an electrical signal to calculate the distance of any object. These waves travel at a faster rate than audible sounds. It is made up of two primary components: a transmitter and a receiver. The sound is emitted by piezoelectric crystals in the transmitter, while the reflected signal is received by the receiver. Ultrasonic sensors are used to calculate liquid levels in bottles in a variety of applications and sectors, including food and beverage. In addition, the sensor is employed in production to control factory processes and maximize efficiency. Industrial-grade ultrasonic sensors are extremely dependable for detecting objects and measuring distance and fill levels. The price of an industrial ultrasonic sensor is adaptable and has proven to be a better alternative to capacitive or optical sensors.

In recent years, the market's growth has been aided by rising demand for features such as accident detection and parking assistance in self-driving cars. Ultrasonic sensors detect the distance between the vehicle and a nearby impediment, assisting in the avoidance of a collision. The market for ultrasonic sensors has increased significantly over the years due to financing from a variety of organizations and governments around the world. In addition, the need for ultrasonic sensors for robotic applications such as object detection has grown.

Limitations in detecting range could stifle industry expansion. Ultrasonic parking sensors may be physically too deep for installation in the bumper of a variety of automobiles due to the existence of the crash protection bar.

Impact of COVID-19 on the Ultrasonic Sensors Market:

Several governments throughout the world have initiated lockdowns in reaction to the emergence of COVID-19, which will undoubtedly influence market growth. These restrictions have had an impact on ultrasonic sensor supply from several companies. Furthermore, some of the market's largest firms have major manufacturing facilities in China, which has harmed their production capability. However, following the restoration of operations in several manufacturing sites in March 2020, output has been streamlined.  

The COVID-19 pandemic has had a significant influence on the automobile parts sector. Batteries, brakes, and various sensors are examples of auto components. This is anticipated to have an impact on the market's growth. While the pandemic continues to disrupt Chinese exports and assembly plant operations across Europe, the use of robotics in the detection of COVID-19 could have a positive impact on their adoption; robotic systems help automate the process of drawing blood and reduce the risk of infection to medical personnel.

Due to lockdowns, the use of Unmanned Aerial Vehicles (UAVs) for applications such as activity monitoring and delivery of necessary items has increased significantly. As a result, there has been a huge growth in the demand for ultrasonic sensors. Furthermore, numerous public safety authorities are stressing the use of unmanned aerial vehicles (UAVs) for sterilizing bus stops, railway stations, and hospitals, which is fueling market expansion.

REPORT COVERAGE:

This research report on the global Ultrasonic Sensors market has been segmented and sub-segmented into the following categories.

Global Ultrasonic Sensors Market – By Technology:

• Retro-Reflective
• Through-Beam

The retro-reflective segment accounted for 40% of the market share in terms of technology in 2020. This is due to the benefits afforded by these sensors, which include lower maintenance costs, installation costs, and the capacity to identify transparent objects with high accuracy. Retro-reflective sensors also have simple optical axis adjustment and wiring, making them simple to use. Furthermore, the increasing use of retro-reflective systems in automobile throttle control and precision position measurement bodes well for segment growth.

Over the projected period, the through-beam sector is expected to grow at a fast rate. This can be due to the growing use of these sensors in transparent container fill-level measurement applications. Furthermore, these sensors are widely employed to measure the turbidity of water in water and wastewater treatment plants. Food safety organizations have been increasingly using through-beam sensors to monitor the purity of liquids in the food and beverage industry.

Global Ultrasonic Sensors Market – By Type:

• Level Measurement
• Distance Measurement
• Obstacle Detection

The obstacle detection sector accounted for over 10% of the market share in 2020, thanks to the increasing use of these technologies in automotive accident-avoidance systems. The segment's growth potential has been encouraged by government laws and regulations guiding the installation of automotive safety equipment such as collision avoidance systems and airbags. The segment is also expected to benefit from the growing use of parking assistance systems in Audi AG and BMW AG vehicles, which integrate ultrasonic sensors and vision-based systems.

The level measurement sector is predicted to grow at a promising CAGR due to the increased need for level sensors for continuous level monitoring in oil and gas, food and beverage, and water and wastewater infrastructure. The oil and gas industry has seen an increase in demand for level sensors as they are increasingly used to monitor storage units and downstream processing plants. In addition, increased shale gas exploration activity in countries such as China, Russia, and the United States is strengthening the segment's development potential. The food and beverage industry's increased demand for level sensors could help the category even more.

Global Ultrasonic Sensors Market – By End-Use:

• Consumer Electronics
• Automotive
• Aerospace & Defense
• Healthcare
• Industrial
• Others

In 2020, the automobile category will hold a 15% share of the market. Ultrasonic sensors are frequently employed in the automotive industry for applications such as parking assistance and collision avoidance.

The healthcare segment is predicted to develop at the quickest rate throughout the forecast period due to the rising demand for ultrasonography and ultrasonic scanning. Ultrasonic scanning uses ultrasonic waves to obtain images of interior organs and tissues. Furthermore, there has been a growth in demand for ultrasonic sensors in Ultrasonic Surgical Instruments (USI), which is projected to provide profitable opportunities for market participants. USI employs ultrasonic sensors to convert ultrasonic signals into mechanical vibrations. They can cut bones and other tissues as well as coagulate tissue to stop bleeding. These devices are also used in non-invasive therapeutic applications such as extracorporeal shock wave lithotripsy, which uses ultrasonic waves to locate and remove kidney stones.

Global Ultrasonic Sensors Market – By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Europe dominated the market with a 30% market share in 2020, owing to increased demand for minimally invasive procedures in the region. In minimally invasive surgery, ultrasonic sensors allow surgeons to work with extreme precision. Furthermore, the introduction of initiatives such as Factories of the Future and Logistics Initiative Bavaria has greatly increased the region's market's growth potential. Countries with the world's largest video game networks, such as Germany and France, have seen a tremendous increase in the use of these technologies in augmented reality and virtual reality devices.

The Asia Pacific region is predicted to develop at a promising CAGR over the projection period, thanks to increased demand for factory automation in the region's industrial sector. The region's fast-growing automotive industry is projected to drive up demand for these systems even more. Ultrasonic sensors are found in a variety of consumer gadgets, including gaming consoles, cleaning robots, and telephones. As a result, the region's rapidly growing consumer electronics industry bodes well for regional market expansion.

The North American market accounted for the biggest revenue share in the global market in 2020, owing to factors such as well-established end-use industries, high demand for modern technologies, and significant presence of manufacturing units of various industrial verticals in nations in the region. The US market supplied the most revenue to the North American sector, while Canada's market is expected to develop the fastest throughout the forecast period. Health spending per capita in the United States is far higher than in industrialized European countries. Ultrasonic sensors are widely employed in medical tests and diagnostics, including prenatal screenings, since they can observe the inside condition of the human body with the least amount of human intrusion. Furthermore, the ultrasonic sensor market in this region is growing due to the rising demand for better surgical techniques among healthcare professionals and patients.

KEY MARKET PLAYERS:

The major players in the ultrasonic sensors market are Balluff (US), Banner Engineering (US), Hans Turck (Germany), Pepperl+Fuchs SE (Germany), Rockwell Automation (US), Murata Manufacturing (Japan), Siemens (Germany), OMRON (Japan), Keyence (Japan) and Pegatron Corp (Taiwan). Honeywell International Inc. is the leading company in the global ultrasonic sensor market.

RECENT HAPPENINGS IN THE MARKET:

• Honeywell has released the next iteration of its Honeywell NAVITAS software suite platform, a System of Systems (SOS) offering that will assist airport operators and aviation navigation service providers in making more informed and accurate decisions across all airside activities, from approach to the gate. The most recent versions enable automation and digitization of air traffic services to aid in effective ground movement, situational awareness, control and monitoring of airside and ATM equipment, information management, and integration.
• Murata Electronics (Thailand), Ltd., a Murata Manufacturing subsidiary, has begun construction on a new production building. Once completed, the two-story structure will provide the corporation with a total floor area of 80,950 square meters. In a recent update, the company stated that it expects to finish construction on the new manufacturing building in March 2023. Murata is putting JPY 12 billion (EUR 92.3 million) into the structure alone.
• Rockwell Automation unveiled a new remote access solution for industrial equipment connectivity aimed at making it easier for OEMs to access remote assets. Factory Talk Remote Access is a cloud-based programmer that allows OEMs to manage, configure, and establish secure connections to their customers' equipment. Remote access to the equipment is provided via the Stratix 4300 remote access router, which is deployed at the customer's location.
• OMRON Corporation has announced the signing of a capital investment deal with Techman Robot, Inc., the world's second-largest collaborative robot brand that works alongside humans in manufacturing facilities. Techman will be owned by OMRON, which will have a 10% share in the company. By December 2021, the investment should be completed.