by Ultrasonic sensors are electronic devices that measure distance by emitting ultrasonic sound waves and receiving the sound waves after they bounce off an object. They are commonly used in applications requiring non-contact distance measurement. These sensors have affordable pricing and are capable of measuring distances accurately even through air, liquids, or solids. They are designed to detect the proximity of objects within an area and measure distances to the closest object in a specified direction. Ultrasonic sensors are utilized for numerous industrial and commercial use cases such as object detection, distance measurement, anti-collision detection, and level measurement. They find extensive use in automation technologies across industries such as manufacturing, healthcare, food and beverages, and warehousing and logistics. Growing adoption of automation solutions including automated guided vehicles, industrial robotics, and packaging machinery is fueling the demand for ultrasonic sensors globally.
The global Ultrasonic Sensors Market is estimated to be valued at US$ 5968.93 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Rising demand from the industrial automation sector: Automation is growing rapidly across various industries to improve operational efficiency. This is consequently driving the demand for proximity sensors including ultrasonic sensors that are used in industrial robots, automated guided vehicles, packaging machinery, and other automated systems for functions including object detection, anti-collision detection, measurement, and inspection. Furthermore, ongoing initiatives towards Industry 4.0 is promoting increased integration of advanced sensors and automation technologies in manufacturing processes, thus propelling the ultrasonic sensors market growth.
Increasing adoption of autonomous vehicles: Autonomous driving requires robust sensing capabilities for safe navigation. Ultrasonic sensors play a critical role as proximity sensors in autonomous vehicles for functions such as automatic parking, collision avoidance, and object detection. Growing investments in R&D and testing of autonomous vehicles by automotive OEMs and technology companies is expected to fuel the adoption of ultrasonic sensors during the forecast period.
Segment Analysis
The global ultrasonic sensors market is dominated by the non-contact sensing sub-segment, which accounted for more than 70% market share in 2023. This is because ultrasonic sensors are widely used in industrial applications such as object detection, distance measurement and anti-collision in packaging, food & beverage and automotive industries. Non-contact sensing ultrasonic sensors are preferred over proximity sensors due to their ability to detect objects from long distances without physically touching them, thus making them more versatile and suitable for precision manufacturing.
PEST Analysis
Political: The growth of manufacturing and industrial automation across major economies like US, China, Germany is driving the demand for industrial automation equipment including ultrasonic sensors. Favorable government policies supportingMade-in-country initiatives are also fueling local production of sensors.
Economic: Rising demand from end-use industries such as automotive, healthcare, food processing are propelling the need for quality control, accuracy and precision in manufacturing. This is positively impacting the ultrasonic sensors market.
Social: Growing concerns regarding safety, hygiene and contactless operations post COVID-19 pandemic are increasing inclination towards non-contact sensing technologies like ultrasonic sensors.
Technological: Advancements in sensor technologies enabling high precision measurement, multi-sensing capabilities and wireless connectivity are improving applications of ultrasonic sensors in industrial robotics, autonomous vehicles and IoT.
Key Takeaways
The global Ultrasonic Sensors Market Demand is expected to witness high growth at a CAGR of 9.8% during the forecast period of 2023 to 2030. Regionally, Asia Pacific dominated the market with over 40% share in 2023 owing to strong industrial manufacturing in China, India, Japan and South Korea. Key players like Keyence Corporation, Pepperl+Fuchs and Baumer Ltd captured major share due to their widespread product portfolio and distribution networks across the key regions.
Regional analysis
The Asia Pacific region is expected to remain the fastest growing regional market for ultrasonic sensors during the forecast period. This is attributed to rapid expansion of manufacturing industry led by China and India. Nations like China, South Korea and Taiwan are major export hubs for industrial goods and electronics propelling installations of automated production lines integrated with sensors.
Key players
Key players operating in the ultrasonic sensors market are Keyence Corporation, Pepperl+Fuchs, Honeywell International Inc., Baumer Ltd., Rockwell Automation, Murata Manufacturing Co. Ltd., Omron Corporation, Sick AG, Banner Engineering, Baluff Inc., Robert Bosch GmbH, Qualcomm Incorporated, TDK Corporation, Sensata Technologies, and Denso Corporation. Key players like Keyence Corporation and Pepperl+Fuchs captured major share owing to their widespread product portfolio and strong distribution networks across Americas, Europe and Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
