Market Snapshot
| Study Period: | 2019- 2026 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Asia-Pacific |
| CAGR: | 10.31 % |
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Market Overview
The ultrasonic sensors market is expected to reach USD 8,085.7 million by 2027, at a CAGR of 10.31% during the forecast period (2022-2027). During the COVID-19 pandemic, offices and factories were required to create an environment where social distancing between workers and safe work practices was ensured to reduce the spread of the virus. Multiple solutions based on ultrasonic sensor technology are attracting attention to measure distances between workers accurately. Ultrasonic sensors are the wireless technology best suited to contact tracing and social distancing due to their high accuracy compared to other technologies, such as Bluetooth and Ultra Wide Band (UWB).
- The ultrasonic sensor is an emerging technology with significant growth potential. Ultrasonic sensors rely on non-intrusive detection of target objects. They are primarily based on three principles - the Doppler shift, amplitude attenuation, and time of flight. Ultrasonic sensors are widely used in the automotive, healthcare, industrial, food, and electronics sectors.
- Ultrasonic sensors can effectively measure various parameters, such as distance, diameter, position, presence, and level of an object in a medium. The application of ultrasonic sensors can be broadly classified into detection, measurement, and destruction of objects.
- These sensors can also be used for the non-destructive evaluation of objects, including the inspection and quantitative testing of industrial structures and health monitoring of old buildings. They are particularly useful in complicated environments where optical sensors are unusable. They rely on non-contact methods of detecting and measuring objects in a medium.
- They are also employed in water treatment plants to monitor the level of sewage and treated water in containers. New-age ultrasonic sensors are also used to monitor the crop height in the agricultural sector and detect the presence of chemicals, dust, and water levels for irrigation. Further, they find applications in hazardous locations to detect high-pressure or liquid leaks that emit ultrasonic sound. Ultrasonic sensors are also used to manufacture burglar alarms, obstacle avoidance, and speed control units in robots.
- Competition from other sensors, such as lower response speed and accuracy than optical sensors and a shortage of manufacturing excellence, hinder the market’s growth.
Scope of the Report
The basic working principle of ultrasonic sensors is based on echolocation, involving the transmission of ultrasonic waves to the target object, which reflects it to the source after receiving the initial wave. Ultrasonic sensors detect the object's exact position by calculating the distance from the original source’s “echo” generated by the object.
The ultrasonic sensors market is segmented by technology, end-user vertical, and geography.
| By Technology | |
| Bulk Piezoelectric Transducer | |
| Micromachined Ultrasound Transducers (MUT) |
| By End-user Vertical | |
| Automotive | |
| Consumer | |
| Industrial | |
| Medical | |
| Other End-user Verticals |
| By Geography | ||||||
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| Rest of the World |
Key Market Trends
Automotive Industry to Create Huge Demand for Ultrasonic Sensors
- Ultrasonic sensors offer several applications in the automotive sector, like parking assistance, safety alarms, collision avoidance, object detection, and automatic braking system. They play an important role in the development of technologies such as driver assistance and self-driving systems.
- Ultrasonic sensors are also used to measure the distance of objects. These sensors with long-range radar capabilities are now being integrated with the cruise control systems of automobiles to avoid collisions between vehicles. They are also used at the rear end for detecting distances, parking assistance, and automobile braking control.
- These sensors are also used in onboard sensing systems in cars with autonomous and advanced features. These systems rely on ultrasonic sensors for measuring the relative distances of objects from the car.
- Additionally, sensor vendors are offering several ultrasonic sensors with increased capabilities like open structures, waterproofing, and external casing to reduce damage. Thus, with the expected hike in ADAS systems in the future, ultrasonic sensors may witness proportional demand growth.
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Asia-Pacific to Account for a Significant Share in the Market
- Due to several factors, Asia-Pacific is a major manufacturer and consumer in the ultrasonic sensors market. Market penetration is relatively high in this sector, and several automotive and manufacturing giants in the region are boosting the market.
- According to the 13th Five-Year Plan of Smart Manufacturing, China aims to establish its intelligent manufacturing system and complete the key industries' transformation by 2025. At the 2020 National People's Congress, the CCP announced that, in addition to doubling down on its Made in China 2025 and China Standards 2035 initiatives, it might spend approximately USD 1.4 trillion on a digital infrastructure public spending program. China's New Infrastructure initiative presents exciting opportunities for global companies. Thus, the adoption of ultrasonic sensors in different sectors, such as automotive and industrial, is expected to grow, boosting the market’s growth in the region.
- Players in the region are focusing on product innovation. For instance, a Xiamen, Fujian Province, China-based company, Ursalink, developed an IoT level measurement solution working with its MB7380 (5m) and MB7383 (10m) ultrasonic sensors. Ursalink offers ultrasonic level sensors.
- The presence of multiple automobile manufacturers and the electronic product manufacturing industry makes Japan a significant region for the market studied. The increasing focus of governments on deploying autonomous vehicles is also expected to create scope for the market. The Japanese government announced plans to test an autonomous car system on public roads in 2018 to launch a self-driving car service. The government had planned to commercialize this system as early as 2022.
- The 'Make in India' program places India on the world map as a manufacturing hub and gives global recognition to the Indian economy. Moreover, India's government aims for a USD 5 trillion economy by 2025, of which manufacturing may be worth USD 1 trillion. The convergence of flagship programs, such as Make in India with Skill India and Digital India, may be key to achieving this goal, thereby driving the country's market.
- The other countries considered in the Asia-Pacific region are South Korea, Indonesia, and Taiwan. The significant presence in the semiconductor industry and South Korea's efforts to increase the manufacturing of semiconductors, electronics, and components are projected to contribute to the market share of ultrasonic sensors in the country.
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Competitive Landscape
The ultrasonic sensors market is highly competitive, as these sensors constitute only a fraction of the market share among the other variants. The players in the market are engaging in research to achieve a competitive edge by offering innovative products. Some of the key players in the market are Siemens AG, Pepperl+Fuchs, Honeywell International Inc., Baumer Ltd, Rockwell Automation, and Murata Manufacturing Co. Ltd.
- January 2021 - Qualcomm launched a second-generation 3D Sonic Sensor with several improvements over gen-1. The 3D Sonic Sensor is an ultrasonic fingerprint reader that uses sound waves to scan a fingerprint and is mostly used as an in-display security solution. This sensor is also compatible with flexible panels used in foldable devices.
- November 2020 - Pepperl+Fuchs, according to its growth strategy, expanded its factory automation portfolio by acquiring USi ultrasonic safety sensor from Mayser GmbH & Co. KG, a supplier of products and system solutions. This ultrasonic sensor with safety certification per EN ISO 13849 category 3 PL d reinforces Pepperl+Fuchs' position in the ultrasonic sensors and safety applications market.
Recent Developments
- September 2020 - LCJ Capteurs launched SONIC-ANEMO-DZP, a zero-power ultrasonic wind sensor. Its solar panel powers this UltraSonic Anemometer. It is well suited to remote installations where power consumption matters. This unit connects directly to a pulse or potentiometer input (i.e., on Davis instruments). It is a useful product for professionals, integration with AWS (Autonomous Weather Station), and well-informed users.
- February 2020 - Robert Bosch GmbH invested USD 20 million in the UltraSense system, a start-up in San Jose, California, for the 3D ultrasonic sensor developed to detect touch through any material and thickness virtually to turn surfaces into inter surfaces.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. EXECUTIVE SUMMARY
3. MARKET DYNAMICS
3.1 Market Overview
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Threat of New Entrants
3.2.2 Bargaining Power of Buyers
3.2.3 Bargaining Power of Suppliers
3.2.4 Threat of Substitutes
3.2.5 Intensity of Competitive Rivalry
3.3 Industry Value Chain Analysis
3.4 Assessment of Impact of COVID-19 on the Industry
3.5 Market Drivers
3.5.1 Applications over Diverse Industrial Areas
3.6 Market Restraints
3.6.1 Operational Issues
4. Market SEGMENTATION
4.1 By Technology
4.1.1 Bulk Piezoelectric Transducer
4.1.2 Micromachined Ultrasound Transducers (MUT)
4.2 By End-user Vertical
4.2.1 Automotive
4.2.2 Consumer
4.2.3 Industrial
4.2.4 Medical
4.2.5 Other End-user Verticals
4.3 By Geography
4.3.1 North America
4.3.1.1 United States
4.3.1.2 Canada
4.3.2 Europe
4.3.2.1 United Kingdom
4.3.2.2 Germany
4.3.2.3 France
4.3.2.4 Rest of Europe
4.3.3 Asia-Pacific
4.3.3.1 China
4.3.3.2 Japan
4.3.3.3 India
4.3.3.4 Rest of Asia-Pacific
4.3.4 Rest of the World
5. COMPETITIVE LANDSCAPE
5.1 Company Profiles
5.1.1 Keyence Corporation
5.1.2 Pepperl+Fuchs AG
5.1.3 Honeywell International Inc.
5.1.4 Baumer Ltd
5.1.5 Rockwell Automation Inc.
5.1.6 Murata Manufacturing Co. Ltd
5.1.7 Omron Corporation
5.1.8 Sick AG
5.1.9 Banner Engineering Corp.
5.1.10 Balluff Inc.
5.1.11 Robert Bosch GmbH
5.1.12 Qualcomm Incorporated
5.1.13 TDK Corporation
5.1.14 Sensata Technologies
5.1.15 Denso Corporation
*List Not Exhaustive6. INVESTMENT ANALYSIS
7. FUTURE OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Ultrasonic Sensors Market market is studied from 2019 - 2026.
What is the growth rate of Ultrasonic Sensors Market?
The Ultrasonic Sensors Market is growing at a CAGR of 10.31% over the next 5 years.
Which region has highest growth rate in Ultrasonic Sensors Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Ultrasonic Sensors Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Ultrasonic Sensors Market?
Keyence Corporation, Pepperl+Fuchs AG, Honeywell International Inc., Baumer Ltd, Rockwell Automation are the major companies operating in Ultrasonic Sensors Market.
