The global ultrasonic sensors market is estimated to register a CAGR of 12.0% during the forecast period of 2020-2030.
Ultrasonic sensors are widely used in robotics as these sensors are not affected by moisture, dust, and dirt and are also used in a dark environment since the light does not affect the sensor’s detection ability. Furthermore, use of robotics for obstacle avoidance with real time communication is also projected to drive the market.
Ultrasonic sensors are used in robotics to avoid the obstacle in their way, so that they can move toward the target area. Moreover, ultrasonic sensors are utilized to detect the large obstacle and to obtain information between the robot and obstacle. They help robots for object detection, tracking an object, and detecting the position of object to avoid collision and ensure task is carried out without any hindrance.
The adoption of robots is increasing in various sectors including healthcare, logistics, manufacturing, and others. According to predictions over 40,000 robots would enter the industry by 2020 as businesses are adopting automation to ensure continuity.
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Key Takeaways: Ultrasonic Sensors Market
- Automotive industry is estimated to register a CAGR of 15.5% in the ultrasonic sensors market demand anti-collision and distance measurement sensors soars
- Liquid level measurement segment to dominate in 2020 with a market share of 38.5% followed by distance measurement and object detection
- Through beam sensors segment is expected to witness a growth of 12% Y-o-Y with feature such as powerful acoustic beam
- South Asia & Pacific ultrasonic sensors market is estimated to register high CAGR as healthcare sector demand better imaging technologies
COVID-19 Impact Analysis on Ultrasonic Sensors Market
The COVID-19 pandemic has impacted businesses globally. The severe lockdowns have disrupted production of ultrasonic sensors as raw material supply chain to remains distraught.
While the situation continues to be serious with governments are still imposing physical distancing norms for protection, supply chains are slowly normalizing.
However, the demand for ultrasonic sensors is going to take a while to pick as its related industries have witnessed a slump. Besides it being an important part of automation, it is also used in healthcare, a sector that will be the key revenue generator. Reduced to no sales of automobiles is projected to hit the market very hard in the coming days. On the other hand, a raised consciousness about smart homes and lighting solutions is expected to bode well for the market.
“Key players are forming alliances with players that offer innovative and differentiated products for various industries. Thus, mergers, acquisitions, and partnerships are expected to be consistent trend amongst market players for enhancing their presence in the market. Players are focusing on offering ultrasonic sensors that can withstand in the toughest conditions, so that the sensors can be used in harsh environment,” says FMI Analyst.
Increasing Adoption of Ultrasonic Sensors in Medical Applications
The demand is for ultrasonic sensors for medical applications is increasing as these sensors are risk-free substitute to radiography solutions and alternative to piezoelectric sensors. Ultrasonic sensors are widely used in medical applications as these sensors can visualize the internal condition of the human body without any damage.
They are used for various medical inspections including diagnosis of internal body organs like kidneys, liver, gallbladder, and for tracking the growth of fetus and its health condition. As the ultrasonic sensors have the ability of real-time visualization, they are used for tissue biopsy sampling while locating the target organ.
Ultrasonic sensors are also used for close examination of eyes, cardiac diagnosis, and also for breast cancer check-ups to detect the presence of lumps under the breast. For detecting any physical abnormality of the uterus, uterus examination is done by using ultrasonic sensors. Moreover, ultrasonic sensors also help in detecting arteriosclerosis by checking the intimal thickness measurement, blood flow and endothelial function test.
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- Proximity Sensors
- Retro-reflective Sensors
- Through Beam Sensors
- Object Detection
- Distance Measurement
- Liquid Level Measurement
- Anti-Collision Detection
- Food & Beverages
- Oil & Gas
The extensive usage of these sensors in the healthcare segment is projected to play an important part in offsetting the losses in the long term. The adoption of ultrasonic sensors in medical field is estimated to grow by 1.5X from 2019 to 2020.
More Valuable Insights on Ultrasonic Sensors Market
FMI’s report on the ultrasonic sensors market is segmented into four major sections such as type (proximity sensors, retro-reflective sensors, through beam sensors, and others), application (object detection, distance measurement, liquid level measurement, anti-collision detection and others), Industry (automotive, food & beverages, medical, industrial, oil & gas, and others) and region(North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa) to help readers understand and lucrative evaluate opportunities in the ultrasonic sensors market.