Global Ultrasonic Sensors Market to Reach US$ 9,425 Million by 2028, Impelled by Rising Product Demand in Healthcare Industry

March 21, 2022

According to the latest report by IMARC Group, titled "Ultrasonic Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global ultrasonic sensors market reached a value of US$ 5,408 Million in 2022. Ultrasonic sensors refer to devices that are generally used for measuring the distance of a targeted receding or approaching object. They are based on the principle of sound reflection and utilize ultrasonic waves that convert the emitted sound into an electrical signal. They are usually equipped with a transmitter that releases sound using piezoelectric crystals as well as a receiver that encounters the transmitted sound. As a result, they are extensively used for numerous applications across the healthcare, automotive, defense and aerospace industries. In comparison to infrared sensors, they are not affected by hindering factors, such as dust, smoke, light, vapor, mist and lint.

Global Ultrasonic Sensors Market Trends:

The global market is primarily driven by the rising product demand in the healthcare industry. Coupled with significant growth in the healthcare infrastructure, this has propelled the market demand. This is also supported by the increasing deployment of ultrasonic sensors for determining tumors, producing images of internal organs and monitoring fetus health. Along with this, the rising manufacturing of vehicles with advanced features, including anti-collision safety systems and self-parking technology, has positively influenced the product sales. Moreover, the escalating utilization of ultrasonic sensors for hygiene detection across the food and beverage industry is driving the market growth. Additionally, the widespread adoption of the product in manufacturing technology, material handling and robotic obstacle detection systems are providing an impetus to the market. Other factors, including continuous product innovations, the widespread integration of advanced technologies with the production processes, the escalating demand for liquid level detection systems in the oil and gas industry and extensive research and development (R&D) activities conducted by key players, are further contributing to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 9,425 Million by 2028, growing at a CAGR of 9.1% during 2023-2028.

Market Summary:

  • On the basis of the technology, the market has been segmented into retro-reflective sensors, through-beam sensors and others.
  • Based on the type, the market has been segregated into level measurement, distance measurement, obstacle detection and others.
  • On the basis of the end-user, the market has been classified into consumer electronics, automotive, aerospace and defense, healthcare, food and beverages, industrial and others.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players are Balluff Gmbh, Banner Engineering Corp., Baumer Holding AG, Blatek Industries Inc., Keyence Corporation, Murata Manufacturing Co. Ltd., Omron Corporation, Pepperl+Fuchs SE, Qualcomm Incorporated, Robert Bosch GmbH, Rockwell Automation Inc., Sick Holding Gmbh and TDK Corporation.

 

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Global Ultrasonic Sensors Market to Reach US$ 9,425 Million by 2028, Impelled by Rising Product Demand in Healthcare Industry
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