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Global Ultrasonic Sensors Market By Technology, By Type, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026

The Global Ultrasonic Sensors Market size is expected to reach $5. 9 billion by 2026, rising at a market growth of 9. 5% CAGR during the forecast period. The ultrasonic sensors produce a shorter wavelength which is transformed into a higher resolution for image processing.

New York, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Ultrasonic Sensors Market By Technology, By Type, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p06021905/?utm_source=GNW
It is because of the high frequencies of the ultrasonic sensors as compared to electromagnetic sensors. Due to this, these systems are actively adopted in the healthcare applications like radiography. Moreover, the systems are implemented in autonomous mobile robots (AMRs) for the identification of obstacles and managing the vehicle’s distance from the nearest obstacle. Owing to this, the rising demand for AMRs in the industries like healthcare, energy, automotive, and oil & gas, is anticipated to boost the growth of the market.

The rising demand for the features like parking assistance and collision detection in driverless cars is likely to propel the market growth in recent years. Ultrasonic sensors identify the distance of the nearest obstacle and assist in avoiding collision with the obstacle. Moreover, technological companies like Waymo LLC, Cruise LLC, and Zoox are aimed at the growth and provision of self-driving car services that predict the growth of the market. For example, Waymo LLC in December 2018 announced that they will launch a self-driving car service in the city of Phoenix, U.S Arizona. Furthermore, many companies like Texas Instruments Incorporated, Murata Manufacturing Co., Ltd., and NXP Semiconductors, are aiming for the development of ultrasonic sensors for Advanced Driver Assistance System (ADAS), which will propel the market growth.

The coronavirus pandemic has seriously affected the automotive component industry. The auto components involve brakes, batteries, and various sensors. This is expected to impact the growth of the market. During the pandemic, disruption of Chinese exports, and the operations of assembly plants in the European region, the utilization of robotics in the identification of COVID-19 have positively affected the adoption of these systems. Robotic systems help in assisting the automatic process of taking blood and decrease the risk of infections to medical professionals.

By Technology

Based on Technology, the market is segmented into Retro-reflective Sensor, Through-beam Sensor and Others. Based on technology, the retro-reflective category held the major market share in 2019. This is due to the benefits offered by these sensors, which include low maintenance costs, installation costs, and reliability in identifying transparent objects. Besides this, retro-reflective sensors provide simple optical axis adjustment and wiring that makes them easier to deploy. Moreover, the increasing adoption of retro-reflective systems in throttle control and precision position measurement of automobiles boosts the growth of the segment.

By Type

Based on Type, the market is segmented into Level Measurement, Distance Measurement, Obstacle Detection and Others. The obstacle detection category is expected to record a significant market share in 2019 due to the rising utilization of the system in collision avoidance systems of automobiles. Strict government policies and regulations in relation to the installation of vehicle safety features like collision avoidance systems and airbags have boosted the growth rate of the segment. The segment is also estimated to get a boost from the increasing deployment of parking assistance systems that utilizes an integration of ultrasonic sensors and vision-based systems in vehicles manufactured by companies like Audi AG and BMW AG. Furthermore, the rising adoption of the systems in robotics for obstacle identification has further boosted the growth of the segment.

By End User

Based on End User, the market is segmented into Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, Industrial and Others. The healthcare category is estimated to record the highest CAGR during the forecast period because of the increasing demand for ultrasonography and ultrasonic scanning. Ultrasonic scanning utilizes ultrasonic waves to create images of internal organs and tissues. Moreover, there is a rising demand for ultrasonic sensors in Ultrasonic Surgical Instruments (USI) that are estimated to provide profitable opportunities to market players. USIs, along with the help of ultrasonic sensors, transform an ultrasonic signal into a mechanical vibration.

By Region

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific region is estimated to record a significant CAGR during the forecast period due to the rising demand for factory automation in the region’s manufacturing sector. The swift expansion of the region’s automotive manufacturing industry is expected to boost the demand for these systems. Ultrasonic sensors are utilized in consumer electronics like gaming consoles, cleaning robots, and smartphones. That resulted in the region’s rapid increase in the consumer electronics industry predicted to do well for the growth of the market in this region.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Murata Manufacturing Co., Ltd., Rockwell Automation, Inc., Sick AG, Siemens AG, Baumer Holding AG, Balluff GmbH, IFM Electronics GmbH, Hans Turck GmbH & Co. KG, and Pepperl+Fuchs Group.

Strategies deployed in Ultrasonic Sensors Market

2021-Jan: Sick AG collaborated with Ibeo Automotive Systems GmbH, an automotive LiDAR specialist. Following the collaboration, both the companies are focused on launching a 3D solid-state LiDAR sensor for industrial applications.

2020-Nov: Pepperl + Fuchs acquired USi ultrasonic safety sensor from Mayser GmbH & Co. KG, a renowned supplier of products and system solutions. The acquisition expanded its factory automation portfolio.

2019-Nov: The Turck Group acquired a minority interest in Asinco, the Duisburg-based specialist for radar measurement technology and industrial automation. The acquisition secured R&D competence in radar measurement sensors and in the area of software, which is particularly relevant for future projects in the field of smart sensors.

2018-Nov: Baumer expanded its portfolio of NextGen sensors with the launch of the U500 ultrasonic sensor. The U500 sensor delivers practical qTeach and qTarget technology in addition to the Baumer OneBox design.

2018-Nov: Turck expanded its RU ultrasonic sensor portfolio with the addition of ten miniature ultrasonic sensors M8 and M12 designs. The M12 sensors are provided with an analog output and a switching output with a switch range that always adjusts to the set measuring range limits of the analog output.

2018-Jun: Honeywell launched connected gas detector, the Searchzone Sonik. This detector listens for leaks ultrasonically, complementing fixed gas detectors for the protection of workers and facilities against deadly toxic and explosive gas leaks.

Scope of the Study

Market Segments covered in the Report:

By Technology

• Retro-reflective Sensor

• Through-beam Sensor

• Others

By Type

• Level Measurement

• Distance Measurement

• Obstacle Detection

• Others

By End User

• Consumer Electronics

• Automotive

• Aerospace & Defense

• Healthcare

• Industrial

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Honeywell International, Inc.

• Murata Manufacturing Co., Ltd.

• Rockwell Automation, Inc.

• Sick AG

• Siemens AG

• Baumer Holding AG

• Balluff GmbH

• IFM Electronics GmbH

• Hans Turck GmbH & Co. KG

• Pepperl + Fuchs Group

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06021905/?utm_source=GNW

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