The ultrasonic sensor market accounted to US$ 4.43 Bn in 2018 and is expected to grow at a CAGR of 8.4% during the forecast period 2019 – 2027, to account to US$ 9.09 Bn by 2027.
Geographically, the ultrasonic sensor market is segmented into North America, APAC, Europe, MEA, and SAM. Europe led the ultrasonic sensor market in 2018 with a significant market share, whereas the Asia Pacific is anticipated to be the fastest-growing region during the forecast period of 2019 to 2027. Europe has some well-developed countries, and the region has a strong automotive and chemical sector which is expected to drive the growth of the ultrasonic sensor market in the region. APAC has a strong manufacturing sector and some technologically advanced economies such as Japan and South Korea. The strong manufacturing sector, the growing popularity of automation, and strong automotive sector are the major factors that are expected to drive the growth of the ultrasonic sensor market in APAC.
APAC is the second-largest market in the ultrasonic sensor market. Apart from Europe and APAC, North America remains the third-largest geographic segment in the ultrasonic sensor market. In North America, growing popularity of process automation, strong manufacturing and food & beverages industry in countries such as the US and Canada, and presence of a large number of ultrasonic sensor manufacturers are some of the major factors that are expected to support the growth of ultrasonic sensor market in the region.
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Ultrasonic Sensor Market: Strategic Insights
Market Size Value in US$ 4.43 Billion in 2018 Market Size Value by US$ 9.09 Billion by 2027 Growth rate CAGR of 8.4% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Ultrasonic Sensor Market: Strategic Insights
| Market Size Value in | US$ 4.43 Billion in 2018 |
| Market Size Value by | US$ 9.09 Billion by 2027 |
| Growth rate | CAGR of 8.4% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Lucrative Regional Ultrasonic Sensor Market
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
An upsurge in the adoption of industrial automation
The penetration of industrial automation is gaining pace in diverse industries other than automotive. In the recent past, the non-automotive industries were very underpenetrated in comparison to the automotive industry. This growth is attributed to the necessary modernization and transformation required in these markets. Developed markets, including China, the US, and Japan, have higher penetration; however, there is still a lot of opportunities available for the industrial market to grow further even in the developed markets. Due to aforesaid factors, the scenario of the ultrasonic sensor is growing exponentially and is projected to flourish worth more demand during the forecast period.
Significant investments in sensors for the agriculture sector
The development of a sensing system that extracts information from an ultrasonic sensor is rising, and this information would be used in a broad range of sensing operations within precision agriculture. Furthermore, the ultrasonic sensor saves on pesticides by locating tree gaps. Once these sensors are recognized, the spraying operation temporarily stops. This is expected to provide huge benefits to the companies providing this system and thus, positively impacting the ultrasonic sensor market.
Type Insights
The global ultrasonic sensor market by type is segmented into proximity sensors, retro-reflective sensors, through-beam sensors, and others. The through-beam sensors segment dominated the ultrasonic sensor market heavily and is projected to continue its dominance throughout the forecast period from 2019 – 2027. The ultrasonic through-beam sensor exhibits the feature of a very powerful acoustic beam.
Application Insights
The ultrasonic sensor market by application is further segmented into liquid level detection, production line, distance measurement, and others. The production line of the ultrasonic sensor market dominated the application segment and is anticipated to continue its dominance throughout the forecast period from 2019 – 2027. The ultrasonic sensor in manufacturing units assists in streamlining the manufacturing processes.
Industry Vertical Insights
The ultrasonic sensor market by industry vertical is further segmented into automotive, food & beverages, medical, oil & gas, industrial, and others. The industrial segment of the ultrasonic sensor market dominated the industry vertical and is expected to continue its dominance throughout the forecast period of 2019 – 2027. The emergence of industry 4.0 is expected to provide ample growth opportunities for the ultrasonic sensor market.
Rest of Asia Pacific Ultrasonic Sensor Market by Industry Vertical
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
The market initiative is observed to be the most adopted strategy in the global ultrasonic sensor market. Few of the recent market initiatives are listed below:
2019:Baumer opened a new production facility in North Macedonia. The facility is opened to address to ensure quick deliveries to the customers of Baumer across Europe. In May 2019, the new facility has commenced its sensor production.
2018:Pepperl+Fuchs has presented a new UCC*-50GK ultrasonic sensor. This sensor is developed for distance measurement. The UCC*-50GK uses ultrasonic pulses to calculate the distance to the target and reports information with the help of one of three sensor outputs.
2018:Siemens presented a new compact level transmitter, named as Sitrans Probe LU240. Its ultrasonic level measurement Hart transmitter and rugged device offer reliable volume, level, and flow measurements. The Sitrans Probe LU240 has its application in food & beverage and chemical industries.
2017:Omron Corporation Acquired Microscan Systems, Inc. With this acquisition Microscan to the Omron Group, Omron focus on advancement of its interconnected, industrial Internet of Things (IoT), machine vision, and barcode scanning, solutions.
GLOBAL ULTRASONIC SENSOR MARKET SEGMENTATION
Global Ultrasonic Sensor Market - By Type
- Proximity Sensors
- Retro- Reflective Sensors
- Through Beam Sensors
- Others
Global Ultrasonic Sensor Market - By Application
- Liquid Level Detection
- Production Line
- Distance Measurement
- Others
Global Ultrasonic Sensor Market - By Industry Vertical
- Automotive
- Food & Beverage
- Medical
- Oil & Gas
- Industrial
- Others
Global Ultrasonic Sensor Market - By Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- Russia
- UK
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Rest of APAC
Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
South America
- Brazil
- Argentina
- Rest of South America (SAM)
Global Ultrasonic Sensor Market - Company Profiles
- Balluff GmbH
- Baumer Group
- Honeywell International, Inc.
- Keyence Corporation
- Migatron Corporation
- Murata Manufacturing Co. Ltd.
- Omron Corporation
- Pepperl+Fuchs AG
- Rockwell Automation, Inc.
- Siemens AG
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type ; Application ; Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
The growth of the ultrasonic sensor market in the Europe region is primarily driven by the growing automotive industry. The region is a leading producer of motor vehicles and several premium automotive manufacturers are based in the region. The ultrasonic sensors have wide applications in automobiles and automotive manufacturing plants. In addition, the presence of robust manufacturing, as well as the chemical industry in the European region, is forecasted to positively impact the growth of the ultrasonic market in the region.
Owing to the growing demand for intelligent and autonomous cars, the use of sensors is expected to increase at an unprecedented rate in the automotive industry in the coming years. In addition, the growing trend of ADAS to offset human errors is also anticipated to provide growth opportunities for the ultrasonic sensor market during the forecast period of 2019 to 2027.
The industrial sector dominated the ultrasonic sensor market in the year 2018. As versatility and reliability are the two major aspects of the industrial sector, the requirement of ultrasonic sensors to detect objects and measure distance is crucial in this sector. The emergence of industry 4.0 and the adoption of advanced technologies for factory automation are two other factors that are anticipated to drive the ultrasonic sensor market in the industrial sector.
The List of Companies
- Balluff GmbH
- Baumer Group
- Honeywell International, Inc.
- Keyence Corporation
- Migatron Corporation
- Murata Manufacturing Co. Ltd.
- Omron Corporation
- Pepperl+Fuchs AG
- Rockwell Automation, Inc.
- Siemens AG
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- Data Collection and Secondary Research:
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Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
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The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
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- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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