The global ultrasonic sensors market is projected to witness a CAGR of 10.40% during the forecasted period to reach a total market size of US$1.465 billion by 2023, increasing from US$0.809 billion in 2017. Ultrasonic sensors work on the principle of echolocation, which includes the transmission of ultrasonic waves to the target object and receiving the ultrasonic waves after reflection from the target object.
The ultrasonic sensors are used for object detection, distance measurement, anti-collision detection, liquid level measurement, and pallet detection. These sensors meet diverse applications requirements such as material handling, processing, and hygiene detection in food and beverages, guiding mobile equipment in industrial scenarios, and assisted parking in automobiles.
Growing awareness towards the safety and hygiene of food and strict regulations are the key driving factors driving the growth of this market. The rising adoption of automation in automotive and various other sectors will give a big boost to the ultrasonic sensors market in the upcoming years. Further advancement in the accuracy of ultrasonic sensors will drive the market globally.
By Type
On the basis of the type of sensor, the global ultrasonic sensors market has been segmented as proximity detection and ranging measurement.
By Application
In terms of application, the market is segmented as distance measurement, anti-collision detection, liquid level measurement, and object detection.
By Industry Vertical
In terms of industry verticals, the global market is segmented as automotive, healthcare, military and defense, oil and gas, and others. Other industries like material handling, construction, and chemicals are included. Ultrasonic sensors have huge demands in the automotive and health care industry for anti-collision and in diagnostics respectively.
By Geography
Geographically, the global ultrasonic sensors market is segmented as North America, Europe, Middle East & Africa, Asia -Pacific, and South America. Europe and North America have significant contributions to the global ultrasonic sensors market due to their technological innovations in IT. In Asia-pacific, China is investing heavily in Ultrasonic sensing technology due to growing industrialization and urbanization.
Competitive Intelligence
The ultrasonic sensors market has immense potential owing to the increasing adoption of these sensors across various end-user segments and the competition will intensify during the forecast period due to technological innovations and upgrades. The key vendors in this market will increase their product lines by investing in R&D for an improved product offering.
The global players are Siemens AG, Pepperl+Fuchs GmbH, Honeywell International, Inc., Murata Manufacturing Co. Ltd., Rockwell Automation, Inc., Robert Bosch GmbH, Baumer Ltd, Schneider Electric, MaxBotix Inc., and OMRON Corporation.
| Report Metric | Details |
| Market size value in 2017 | US$0.809 billion |
| Market size value in 2023 | US$1.465 billion |
| Growth Rate | CAGR of 10.40% from 2017 to 2023 |
| Base year | 2017 |
| Forecast period | 2019–2024 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Type, Application, Industry Verticals, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | Siemens AG, Pepperl+Fuchs GmbH, Honeywell International Inc., Murata Manufacturing Co., Ltd, Rockwell Automation, Inc., Robert Bosch GmbH, Baumer Ltd, Schneider Electric, MaxBotix Inc., OMRON Corporation |
| Customization scope | Free report customization with purchase |
Segmentation
The global ultrasonic sensors market is segmented by type, application, industry vertical, and by geography.
By Type
Proximity Detection
Ranging Measurement
By Application
Distance Measurement
Anti-Collision Detection
Liquid Level Measurement
Object Detection
Others
By Industry Verticals
Automotive
Military and Defense
Oil and Gas
Food and Beverage
Material Handling
Others
By Geography
North America
United States
Canada
Mexico
Others
South America
Brazil
Argentina
Others
Europe
UK
Germany
France
Italy
Others
Middle East and Africa
Israel
UAE
Saudi Arabia
Others
Asia Pacific
Japan
China
India
Australia
Others
Frequently Asked Questions (FAQs)
Q1. What are the growth prospects for the ultrasonic sensors market?
A1. The ultrasonic sensors market is projected to witness a CAGR of 10.40% over the forecast period.
Q2. What is the size of the global ultrasonic sensors market?
A2. Ultrasonic Sensors market was valued at US$0.809 billion in 2017.
Q3. Which region holds the largest market share in the ultrasonic sensors market?
A3. Europe and North America have significant contributions to the global ultrasonic sensors market due to their technological innovations in IT.
Q4. What will be the ultrasonic sensors market size by 2024?
A4. The global ultrasonic sensors market is projected to reach a total market size of US$1.465 billion by 2024.
Q5. What factors are anticipated to drive the ultrasonic sensors market growth?
A5. Growing awareness towards the safety and hygiene of food and strict regulations are the key driving factors driving the growth of the ultrasonic sensors market.
Siemens AG
Pepperl+Fuchs GmbH
Honeywell International Inc.
Murata Manufacturing Co., Ltd
Rockwell Automation, Inc.
Robert Bosch GmbH
Baumer Ltd
Schneider Electric
MaxBotix Inc.
OMRON Corporation
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.