Ultrasonic Sensors Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 6.54 Billion |
| Market Size (2029) | USD 10.11 Billion |
| CAGR (2024 - 2029) | 9.08 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Ultrasonic Sensors Market Analysis
The Ultrasonic Sensors Market size is estimated at USD 6.54 billion in 2024, and is expected to reach USD 10.11 billion by 2029, growing at a CAGR of 9.08% during the forecast period (2024-2029).
- Ultrasonic sensors are widely utilized for non-contact detection of solid and liquid state objects. These sensors operate at frequencies higher than 20 kHz, above the sonic range audible to humans. Widely used in robots, autonomous guided vehicles, and drones, ultrasonic sensors are common in a range of applications. Ultrasonic sensors provide relatively precise measurements, with errors usually within 1%. They can make many measurements per second, yielding quick refresh rates. Additionally, they are usually quite cheap because they do not need rare materials.
- The growth of the market studied is positive and is anticipated to grow enormously due to the emergence of enhanced applications in high-growth sectors like automotive, healthcare, and machine handling, along with the fingerprint-based application that is gaining momentum in consumer products. These sensors deliver better price performance than other sensors by relying on economies of scale advantages.
- Owing to their real-time visualization ability, sensors can also be used for tissue biopsy sampling or therapeutics while locating target organs. These sensors are also used to diagnose internal organs, including the kidneys, liver, pancreas, and gallbladder, or to observe pregnant women's fetal growth and health condition.
- Automotive functions like cruise control, driver assistance, and anti-theft systems use ultrasonic sensors. Additionally, they are also being used in various applications for distance measurement in the material handling sectors. Ultrasonic sensor manufacturers have offered multiple variants of ultrasonic sensors with additional capabilities like open structures, waterproofing, and external casing to reduce damage. Thus, ultrasonic sensors will also witness a proportional rise with the expected increase in ADAS systems.
- The market is witnessing product developments and research. For instance, in Nov 2022, Ultraleap developed a new ultrasonic sensor and transducer for virtual reality systems for the metaverse and touchless controllers in vehicles. Such initiatives by various companies and organizations are expected to contribute to the increase in the demand for ultrasonic sensors in the market.
- However, the limited detection range of the ultrasonic sensors could restrict their effectiveness in certain applications where a wider range of detection is required. They may also have certain technological limitations, like susceptibility to interface from environmental factors like temperature, humidity, etc. These limitations can affect the reliability and accuracy of the sensor readings.
- Further, ultrasonic sensors can be relatively expensive compared to other types of sensors. This cost factor might be a restraint for some businesses or industries, especially when large-scale deployment of sensors is required.
Ultrasonic Sensors Market Trends
Automotive Industry to Create Huge Demand for Ultrasonic Sensors
- With the increasing production and sales of automobiles and increased customer expenditures, the automobile industry is expected to contribute to global growth opportunities for the Global Ultrasonic Sensors Market. For instance, according to OICA, the motor vehicle production volume in worldwide in 2023 was approximately 94 million motor vehicles
- Ultrasonic sensors offer several applications in the automotive sector, such as parking assistance, safety alarms, collision avoidance, object detection, and automatic braking systems. They play an essential role in developing driver assistance and self-driving systems.
- Ultrasonic sensors are also used to measure the distance of objects. These sensors with long-range radar capabilities are now being integrated with the cruise control systems of automobiles to avoid collisions between vehicles. They are also used at the rear end for detecting distances, parking assistance, and automobile braking control.
- These sensors are used in onboard sensing systems in cars with autonomous and advanced features. These systems rely on ultrasonic sensors for measuring the relative distances of objects from the vehicle.
- Additionally, sensor vendors offer several ultrasonic sensors with increased capabilities like open structures, waterproofing, and external casing to reduce damage. Thus, ultrasonic sensors may witness proportional demand growth with the expected hike in ADAS systems.
- Moreover, automotive manufacturers are integrating automation technology to increase consumers' comfort, convenience, and safety. The increasing penetration of self-driving cars and the installation of collision detection systems to prevent automobiles are anticipated to accelerate the demand for ultrasonic sensors around the globe.
Asia-Pacific to Account for a Significant Share in the Market
- Asia-Pacific is a major manufacturer and consumer in the ultrasonic sensors market. Market penetration is relatively high in this region, and several automotive and manufacturing giants are boosting the market.
- According to the 13th Five-Year Plan of Smart Manufacturing, China is aiming to establish its intelligent manufacturing system and transform critical industries by 2025. At the 2020 National People's Congress, the CCP announced that, in addition to doubling down on its China Standards 2035 and Made in China 2025 initiatives, it might spend approximately USD 1.4 trillion on a digital infrastructure public spending program.
- China's New Infrastructure initiative presents several opportunities for global companies. Thus, the adoption of ultrasonic sensors in different sectors, such as automotive and industrial, is expected to grow, boosting the market's growth in the region.
- Players in the region are focusing on product innovation. For instance, a Xiamen, Fujian Province, China-based company, Ursalink, developed an IoT-level measurement solution working with its MB7380 (5m) and MB7383 (10m) ultrasonic sensors. Ursalink offers ultrasonic-level sensors.
- The presence of multiple automobile manufacturers and the electronic product manufacturing industry makes Japan a significant region for the market studied. The increasing focus of governments on deploying autonomous vehicles is also expected to create scope for the market. Japan's National Policy Agency announced it would lift the ban preventing SAE Level 4 autonomous vehicles from operating on Japanese roads. The policy change will allow autonomous vehicles to operate in a limited capacity from April 2023. The country aims to offer mobility services using Level 4 AVs in 40 areas by 2025 and in more than 100 areas by 2030.
- The 'Make in India' program places India on the world map as a manufacturing hub and gives global recognition to the Indian economy. Moreover, India's government aims for a USD 5 trillion economy by 2025, of which manufacturing may be worth USD 1 trillion. The convergence of flagship programs, such as Make in India with Skill India and Digital India, may be key to achieving this goal, thereby driving the country's market.
- The other countries considered in the Asia-Pacific region are South Korea, Indonesia, and Taiwan. The substantial presence in the semiconductor industry and South Korea's efforts to increase the manufacturing of semiconductors, electronics, and components are projected to contribute to the country's market share of ultrasonic sensors.
Ultrasonic Sensors Industry Overview
The ultrasonic sensors market is highly competitive and fragmented. The players in the market are engaging in research to achieve a competitive edge by offering innovative products. Some of the key players in the market are Siemens AG, Pepperl+Fuchs, Honeywell International Inc., Baumer Ltd., Rockwell Automation, and Murata Manufacturing Co. Ltd.
- In February 2023, PiL Sensoren GmbH customized a novel model variant of the proven sensor series P47. The high-precision ultrasonic sensors are predestined for basic applications like distance and level measurements in the measuring range of up to 5,000mm. They also provide reliable detection of even small objects due to their sound intensity.
- In February 2022, Migatron Corp., a prominent USA ultrasonic sensor manufacturer, launched two new sensor models aimed at displacement measurement and proximity detection tasks for production line applications like high-speed counting, liquid level, and many other areas of process control.
Ultrasonic Sensors Market Leaders
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Keyence Corporation
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Pepperl+Fuchs AG
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Honeywell International Inc.
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Baumer Ltd
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Rockwell Automation
*Disclaimer: Major Players sorted in no particular order
Ultrasonic Sensors Market News
- January 2023 - A team of researchers from UBC Okanagan is investigating new methods to monitor underground gas pipelines with the help of high-tech sensors that can make finding weaknesses, discrepancies, and even a diversion in residential natural gas lines easier. The researchers have tested a technology that allows for the inspection of HDPE pipes with the help of ultrasonic sensors, which transmit ultrasound signals through the pipe.
- August 2022: Students from Vidyavardhaka College of Engineering, Mysuru, developed an ultrasonic blind walking stick that utilizes Arduino and could perform more than just a stick for visually impaired persons. This smart stick featured an ultrasonic sensor to sense distance from any obstacle, and it could sense lighting conditions and had a remote, utilizing which the blind man could remotely locate his smart stick.
Ultrasonic Sensors Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. EXECUTIVE SUMMARY
3. MARKET INSIGHTS
3.1 Market Overview
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Bargaining Power of Buyers
3.2.2 Bargaining Power of Suppliers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitutes
3.2.5 Intensity of Competitive Rivalry
3.3 Industry Value Chain Analysis
3.4 An Assessment of the Impact of Key Macroeconomic Trends
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Applications over Diverse Industrial Areas
4.1.2 Increasing demand for autonomous safety systems in vehicles
4.2 Market Restraints
4.2.1 Operational Issues and Technological Limitations
4.2.2 High Cost
5. Market SEGMENTATION
5.1 By Technology
5.1.1 Bulk Piezoelectric Transducer
5.1.2 Micromachined Ultrasound Transducers (MUT)
5.2 By End-user Vertical
5.2.1 Automotive
5.2.2 Consumer
5.2.3 Industrial
5.2.4 Medical
5.2.5 Other End-user Verticals
5.3 By Geography***
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.3 Asia
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.4 Latin America
5.3.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Keyence Corporation
6.1.2 Pepperl+Fuchs AG
6.1.3 Honeywell International Inc.
6.1.4 Baumer Ltd
6.1.5 Rockwell Automation Inc.
6.1.6 Murata Manufacturing Co. Ltd
6.1.7 Omron Corporation
6.1.8 Sick AG
6.1.9 Banner Engineering Corp.
6.1.10 Balluff Inc.
6.1.11 Robert Bosch GmbH
6.1.12 Qualcomm Incorporated
6.1.13 TDK Corporation
6.1.14 Sensata Technologies
6.1.15 TE Connectivity
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
Ultrasonic Sensors Industry Segmentation
The basic working principle of ultrasonic sensors is based on echolocation, involving the transmission of ultrasonic waves to the target object, which reflects it to the source after receiving the initial wave. Ultrasonic sensors detect the object's exact position by calculating the distance from the source's "echo" generated by the object.
The scope of the report includes the different technologies used in ultrasonic sensors, such as Bulk Piezoelectric Transducers and Micromachined Ultrasound Transducer, and their applications in various end-user verticals. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyzes the overall impact of key macroeconomic trends on the ecosystem. The scope of the report encompasses market sizing and forecast for segmentation by technology, end-user vertical, and geography. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Technology | |
| Bulk Piezoelectric Transducer | |
| Micromachined Ultrasound Transducers (MUT) |
| By End-user Vertical | |
| Automotive | |
| Consumer | |
| Industrial | |
| Medical | |
| Other End-user Verticals |
| By Geography*** | |||||
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| Latin America | |||||
| Middle East and Africa |
Ultrasonic Sensors Market Research FAQs
How big is the Ultrasonic Sensors Market?
The Ultrasonic Sensors Market size is expected to reach USD 6.54 billion in 2024 and grow at a CAGR of 9.08% to reach USD 10.11 billion by 2029.
What is the current Ultrasonic Sensors Market size?
In 2024, the Ultrasonic Sensors Market size is expected to reach USD 6.54 billion.
Who are the key players in Ultrasonic Sensors Market?
Keyence Corporation, Pepperl+Fuchs AG, Honeywell International Inc., Baumer Ltd and Rockwell Automation are the major companies operating in the Ultrasonic Sensors Market.
Which is the fastest growing region in Ultrasonic Sensors Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Ultrasonic Sensors Market?
In 2024, the North America accounts for the largest market share in Ultrasonic Sensors Market.
What years does this Ultrasonic Sensors Market cover, and what was the market size in 2023?
In 2023, the Ultrasonic Sensors Market size was estimated at USD 5.95 billion. The report covers the Ultrasonic Sensors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Ultrasonic Sensors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Ultrasonic Sensor Industry Report
The Ultrasonic Sensors Market Analysis provides a comprehensive overview segmented by technology, including bulk piezoelectric transducers and micromachined ultrasound transducers, and by end-user verticals such as automotive, consumer, industrial, and medical sectors. The report covers various geographical regions, including North America, Europe, Asia Pacific, and the Rest of the World.
Industry reports indicate that the market forecast includes an outlook for future growth, underpinned by detailed industry research. The market segmentation is analyzed to provide insights into market trends and market value. The report example includes a free report PDF download, offering an in-depth market review and market predictions.
Market research highlights the market leaders, providing industry statistics and a robust industry overview. The industry outlook and market data are essential for understanding market growth and market size. Industry analysis is crucial for identifying industry trends and market growth. The research companies involved in this report have provided a detailed industry analysis and market forecast.
The report also includes an industry overview, focusing on industry sales and market segmentation. Industry information is vital for comprehending market data and industry outlook. The report PDF serves as a comprehensive resource for understanding market trends and market predictions. Additionally, the report emphasizes market value and market growth, offering a thorough market review and industry statistics.
In summary, the market forecast and industry analysis provide a clear picture of the ultrasonic sensors market, with a focus on market segmentation, market value, and industry trends. The report example, available as a report PDF, is an invaluable resource for industry research and understanding market growth.
Ultrasonic Sensor Market Report Snapshots
