TOKYO, October 4, 2022 (GLOBE NEWSWIRE) – World Ultrasound sensor market The volume reached $6,799 million in 2021 and is expected to generate a market size of $13,689 million by 2030 at a compound annual growth rate of 8.3% from 2022 to 2030.
Ultrasound Sensors Market Statistics
- Global Ultrasound Sensors Market Revenues was $6,799 Million in 2021, at a CAGR of 8.3% from 2022 to 2030
- North America region captured a significant revenue share of 31% in 2021
- The Asia Pacific region is expected to expand at a compound annual growth rate of 9% from 2022 to 2030
- Through technology, the reflective sensor segment contributed 40% of the ultrasonic sensor market share in 2021
- Among the types, the benchmark segment is poised to see a 10% growth rate over the forecast years
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|Market||Ultrasound sensor market|
|Ultrasound sensor market Size 2021||6,799 million USD|
|Ultrasound sensor market 2030 forecast||$13,689 million|
|Ultrasound sensor market Compound annual growth rate during 2022 – 2030||8.3%|
|Ultrasound sensor market Analysis period||2018 – 2030|
|Ultrasound sensor market base year||2021|
|Ultrasound sensor market forecast data||2022 – 2030|
|covered slices||By technology, type, end use, and geography|
|Ultrasound sensor market Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|An overview of the main companies||Balluff Inc. and Ifm electronic GmbH and Banner Engineering Corp. and Sick AG, Baumer, and Murata Manufacturing Co., Ltd. and The Turck Group, Pepperl + Fuchs SE, and Siemens AG.|
|Report coverage||Market trends, drivers, restraints, competitive analysis, player rating, regulations analysis|
Ultrasound Sensors Market Overview
Ultrasound sensors are applied in a wide variety of applications and sectors, including object identification, object tracking, liquid level measurement, as well as collision detection. These instruments have been modified with an ultrasonic sensor in order to use built-in biometric sensors for security purposes. Many consumer electronics manufacturers, such as Samsung and Xiaomi, use these sensors to provide fingerprint and face recognition as well as biometrics.
Ultrasound Sensors Market Growth Factors
- Increasing demand for self-driving safety systems in cars
- Rapid adoption of smart home devices and IoT in emerging regions
- The spread of industrial robots and automation in the manufacturing sector
Ultrasound sensor market dynamics
The growing application of ultrasonic sensors in areas such as distance measurement, object detection, as well as platform detection, among others, is driving the growth of the ultrasonic sensor market. Moreover, due to the fact that these sensors suit a wide range of needs in the food and beverage industry, such as material handling, processing, as well as hygiene detection, the demand for them has increased significantly.
Besides, the increasing demand for such technologies in the healthcare industry for purposes like echograph and echocardiography would boost the ultrasonic sensor market trend in the coming years. In recent decades, the growing need for technologies such as accident detection and parking assistance in motorized vehicles has greatly boosted market growth. Ultrasonic sensors detect the proximity of a nearby obstacle and help avoid collisions. In addition, technology companies such as Waymo LLC, Cruise LLC and Zoox are focusing their efforts on developing and implementing self-driving rental cars, which bodes well for the growth of the industry.
Impact of COVID-19 on the global ultrasonic sensor market share
The COVID-19 pandemic has had a massive impact on the automotive components sector. As the outbreak continues to disrupt Chinese exports and production plant operations across the European region, the use of robotic systems to detect COVID-19 could have a positive impact on acceptance of these structures; Automated systems help simplify the blood collection process and reduce the possibility of infectious diseases for medical personnel. Because of the shutdowns, the use of unmanned aerial vehicles (UAVs) for operations such as monitoring systems and critical product delivery has increased exponentially. As a result, the ultrasonic sensor market has grown exponentially. In addition, many public safety agencies emphasize the use of drones to sanitize bus stops, transportation hubs, or hospitals, promoting market expansion.
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Ultrasound sensors Market segmentation
The global Ultrasound Sensors market has been segmented by Acumen Research and Consulting on the basis of technology, type, and end use. Through technology, the part is separated into a reflective sensor, a through-beam sensor, and others.
In terms of end use, the market is further categorized into industrial, consumer electronics, automotive, healthcare, aerospace and defense, and others. According to the ultrasonic sensor market forecast, the consumer electronics segment is expected to lead the market in the coming years.
Regional Ultrasound Sensors Market Overview
The global Ultrasound Sensors market is segmented into several geographical regions: North America, Asia Pacific, Europe, Latin America, Middle East and Africa. According to Ultrasonic Sensors Industry Analysis Report, North America has historically occupied the highest market share, and this trend is expected to continue in the coming decades. The US has the largest market share in North America, except that the Canadian market is expected to expand faster than the US market.
Besides, the Asia Pacific region is expected to show a favorable compound annual growth rate (CAGR) during the forecast period. Ultrasonic sensors can be found in a wide variety of consumer gadgets, including cleaning robots, game consoles, and smartphones. As a result, the rapid expansion of the consumer technology industry in the region bodes well for the development of other sectors. Furthermore, several companies in the region have received government funding to develop ultrasonic sensors, including Murata Manufacturing Co., Ltd. and TDK.
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Ultrasound sensor market
Some of the prominent companies in the ultrasonic sensor market are Balluff Inc. and Sick AG and Banner Engineering Corp. and Murata Manufacturing Co., Ltd. and Pepperl + Fuchs SE, Ifm electronic GmbH, Baumer, The Turck Group and Siemens AG.
Ultrasound Sensors Market Strategies
Strategic activities such as mergers and acquisitions, cooperation and international operations create competitive market dynamics. They focus on adopting development initiatives such as expanding product offerings, mergers and acquisitions, and advertising operations in order to increase their presence in underserved areas around the world.
- In October 2019, Bomer revealed the construction of a new manufacturing site in North Macedonia. The factory was set up to process and ensure fast delivery to Baumer customers throughout Europe. The new factory started sensor production in May 2019.
- In December 2018, Siemens AG started the launch of a new product, “Sitrans Probe LU240”. A new mini-level transmitter has been launched. Ultrasound level measuring Hart transmitter and rugged instrument provide accurate volume, leveling and flow measurements. Sitrans Probe LU240 is used in the food, beverage and chemical sectors.
This report answers the questions
- What will be the Ultrasound Sensors Market Size in 2021?
- What will be the CAGR of the Ultrasound Sensors Market during the forecast period from 2022 to 2030?
- Who are the major players in the global Ultrasound Sensors market?
- Which region will have the largest share of the ultrasonic sensor market in 2021?
- What are the key market drivers for the Ultrasound Sensors Market?
- Who is the largest ultrasonic sensor users market?
- What will be the market value of ultrasonic sensors in 2030?
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