The global ultrasonic sensors market was valued at USD 380.8 million in 2014 and is expected to reach USD 1,670.7 million by 2023, growing at a CAGR of 17.1% from 2015 to 2023.
Albany, NY -- (SBWIRE) -- 04/09/2018 -- The ultrasonic sensors are used for liquid level measurement, object detection, distance measurement, anti collision detection and pallet detection among others. Ultrasonic sensors are used to improve the operational efficiency and provide additional safety in manufacturing facilities. This is one of the major factors fueling the demand for ultrasonic sensors globally.
The need for demand of automation and focus on improvement of production efficiency has increased across industries such as automotive, chemical, construction, and food and beverages among others. Moreover, increasing demand for advanced features such as automatic steering controls, park assist system, blind spot detection and adaptive cruise control is also expected to have a positive impact on the demand for ultrasonic sensors globally.
The rising concern for driver safety has ensured the integration of antilock braking systems (ABS) in most of the vehicles. Moreover, the ultrasonic sensors are used to control steering, acceleration and braking while parking the vehicle. In addition, the ultrasonic sensors also gather location information of the vehicle. In addition, the emerging concept of wearable medical devices is also aiding to the growth of the market. The wearable medical devices are embedded with various types of sensors such as ultrasonic, temperature, heart rate sensors and pressure sensors among others. The ultrasonic sensors can be used to visualize the internal parts of the human body without causing any negative impact. These factors are driving the growth for the market during the forecast period.
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By types, the market is divided into ultrasonic proximity sensors, ultrasonic retro-reflective sensor, ultrasonic through beam sensor, ultrasonic 2 point proximity switches. On the basis of application the ultrasonic sensors market segmented into liquid level measurement, object detection, distance measurement, anti collision detection, pallet detection and others. By industry the market is categorized into automotive, power and gas & oil, chemical, agriculture, construction, pulp and paper, material handling, food and beverage, medical and healthcare and aerospace and defense among others. Moreover, the report also provides cross sectional analysis of all the above segments across different countries within different regions such as North America, Asia Pacific, Europe and Rest of the World.
In 2014, among the different types of ultrasonic sensor, the ultrasonic proximity sensors occupied the largest market share. However, the ultrasonic through beam sensors segment is anticipated to witness the fastest growth rate. The rapid growth of this segment is attributed to the increasing demand for microprocessor controllers and ability to detect fast moving objects in short range.
Among the different applications of ultrasonic sensors, the liquid level measurement sensor held the largest market share in 2014. Increasing use of liquid level measurement sensors for level surface detection, non contact level measurement and monitoring liquid level changes in tank among others is aiding to the growth of this segment.
Geographically, the Asia Pacific ultrasonic sensors market is predicted to experience the fastest growth from 2015 to 2023.The rapid expansion of production facility and the falling prices of the sensor components is fuelling the growth in this region.
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In order to get a better understanding of the ultrasonic sensors market, a key trends analysis has been included for all the segments. Furthermore, the market share of the major players in the optical position sensors in semiconductor modules and chips market has also been discussed in terms of market share revenue held globally. In addition, the key players in the market have also been profiled in terms of their product segments, financial overview, recent developments and business strategies adopted by them. The leading players in the market include Pepperl+Fuchs GmbH, Siemens AG, Murata Manufacturing Co., Ltd., Rockwell Automation Inc., Microsonic GmbH, Baumer Group, MaxBotix Inc., OMRON Corporation, Honeywell International Inc., Branson Ultrasonics Corporation, Gems Sensors & Controls, Senix Corporation and Crest Ultrasonics Corp. among others.
The global ultrasonic sensors market can be segmented as follows;-
Global Ultrasonic Sensors Market, By Type
Ultrasonic Proximity Sensors
Ultrasonic Retro-Reflective Sensors
Ultrasonic Through Beam Sensors
Ultrasonic 2 Point Proximity Switches
Global Ultrasonic Sensors Market, By Application
Liquid Level Measurement
Anti Collision Detection
Global Ultrasonic Sensors Market, By Industry
Power and Oil & Gas
Pulp & paper
Food and Beverage
Medical and Healthcare
Aerospace and Defense
Others (Metal working, Printing, Textile)
Global Ultrasonic Sensors Market, By Geography
Rest of Europe
Rest of Asia Pacific
Rest of the World (RoW)
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