The market for ultrasonic sensors is anticipated to increase from US$5,138.4 million in 2022 to US$13,241.8 million by 2030. During the projected period of 2022–2030, the global ultrasonic sensors market is anticipated to grow at a CAGR of 12.0 percent.
| 2022 Market Value | US$ 5,138.4 Mn |
| 2030 Market Value | US$ 13,241.8 Mn |
| CAGR% (2022-2030) | 12.0% |
| Share of Top 5 Market Players | ~45% |
Because they are unaffected by moisture, dust, or filth and because they can be utilised in low-light conditions without losing their ability to identify objects, ultrasonic sensors are frequently used in robotics. The industry is also anticipated to be driven by the usage of robotics for obstacle avoidance with real-time communication.
Robotics uses ultrasonic sensors to move away from any obstacles in their path and toward the target region. Additionally, ultrasonic sensors are used to locate the substantial obstruction and gather data about the distance between the robot and obstruction. They aid robots with object detection, tracking, and position detection to prevent collisions and guarantee that tasks are completed without difficulty.
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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.
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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.
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.
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