Ultrasonic Sensors Market is driven by Its Increased Demand in Healthcare

Ultrasonic Sensors Industry Overview

The global ultrasonic sensors market size is expected to reach USD 6.00 billion by 2027, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 6.6% from 2021 to 2027. The increasing adoption of ultrasonic sensors in automobiles for applications such as parking assistance systems and Automated Driver Assistance Systems (ADAS) is expected to emerge as a major factor influencing the market growth. The increasing demand for ultrasonic sensors in factory automation is expected to provide lucrative opportunities to market players. 

Ultrasonic sensors are extensively used in the Unusual Motion Detection (UMD) technology that continuously monitors a scene and detects and marks unusual events. Furthermore, vast advancements in ultrasonic sensors such as the usage of matched filters have made them more accurate and more suitable for use in flow measurement by utility companies. Rising demand across these applications is expected to drive market growth over the forecast period.

Ultrasonic Sensors Market Segmentation

Grand View Research has segmented the global ultrasonic sensor market based on technology, type, end-use, and region:

Based on the Type Insights, the market is segmented into Level Measurement, Distance Measurement, Obstacle Detection, and Others.

• The obstacle detection segment accounted for over 10% of the market share in 2020 owing to the increasing usage of these systems in collision avoidance systems of automobiles.
• Stringent government policies and regulations related to the installation of vehicle safety features such as collision avoidance systems and airbags have further fueled the growth prospects of the segment.
• The level measurement segment is anticipated to register a promising CAGR owing to the increasing demand for level sensors for continuous level monitoring in oil and gas, food and beverage, and water and wastewater infrastructure.
• The rising usage of level sensors for monitoring storage units and downstream processing plants has positively impacted demand across the oil and gas sector.

Based on the Technology Insights, the market is segmented into Retro-reflective Sensor, Through-beam Sensor, and Others.

• The retro-reflective segment accounted for the 40% market share in 2020. This can be attributed to the advantages provided by these sensors, including reduced maintenance costs, installation costs, and reliability in detecting transparent objects. 
• The through-beam segment is anticipated to register a high CAGR over the forecast period. This can be attributed to the increasing usage of these sensors in fill-level measurement applications in transparent containers. Furthermore, these sensors are extensively used in water & wastewater treatment plants for measuring the turbidity of water.

Based on the End-use Insights, the market is segmented into Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, Industrial, and Others.

• The automotive segment accounted for a 15% share of the market in 2020. In the automotive industry, ultrasonic sensors are widely used in applications such as parking assistance and collision avoidance.
• Several companies, including Texas Instruments Incorporated, Murata Manufacturing Co., Ltd., and NXP Semiconductors, are focusing on the development of ultrasonic sensors for Advanced Driver Assistance System (ADAS), further fueling the market growth.
• The healthcare segment is projected to register the highest CAGR over the forecast period, thanks to the rising demand for ultrasonography and ultrasonic scanning.

Ultrasonic Sensors Region Outlook

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Several other players are emphasizing partnerships, mergers, and acquisitions for staying competitive in the market.

Some of the prominent players in the ultrasonic sensors market include:

• Balluff Inc.
• Banner Engineering Corp.
• Baumer
• Hans Turck GmbH & Co. KG
• Ifm electronic GmbH
• Murata Manufacturing Co., Ltd.
• Pepperl+Fuchs GmbH
• SICK AG
• Siemens

Order a free sample PDF of the Ultrasonic Sensors Market Intelligence Study, published by Grand View Research.