Global Ultrasonic Sensor Market, Helping Industries to Provide Safety and Quality in an Efficient Way, is Expected to Reach USD 2076.3 million by 2023

NEW YORK, Feb. 13, 2018 (GLOBE NEWSWIRE) -- Global Ultrasonic Sensor market is expected to grow significantly from USD 611.4 Million in 2016, to USD 2076.3 Million in 2023, at a CAGR of 18.4% from 2017 to 2023. The factors driving the growth of the ultrasonic sensor market are increasing demand for operational efficiency, blind spot detection, high sensing capability, and production in assembly line. Rise in automated production process & increasing concern for safety is also impelling the growth of ultrasonic sensor market. Adoption of the driverless car and increasing installation of urban traffic driving-aid systems further fuels the demand of ultrasonic sensor market across the globe, during the forecast period.

The ultrasonic sensor works on “non-contact” technology and useful to compute the distance of the target based on the time span between emitting the signal and receiving the echo without harming the object. The ultrasonic sensor is employed for liquid level measurement, anti-collision detection, object detection, distance measurement, and others. The ultrasonic sensor technology finds its application in various sectors such as healthcare, food and beverages, material handling, robotics, automotive, and manufacturing industries. The ultrasonic sensor can sense the edge of a material as a part of web guiding system, widely used in cars as a parking sensor to help the driver in reversing the vehicle. Ultrasonic level measurement devices are mounted at the top of the vessel due to which they are less likely to offer leakage problems.

The global ultrasonic sensor market is segmented into type, application, industry, and region. On the basis of type, the market is divided into the ultrasonic retro-reflective sensor, proximity sensor, ultrasonic 2 point proximity switches, and through-beam sensors. Ultrasonic proximity sensor is accounted to hold a major market share of the global ultrasonic sensor market. Whereas, the ultrasonic through-beam sensor is expected to be the fastest growing market segment in the global ultrasonic sensor market, during the forecast period. The rapid growth of this segment is owing to the increasing demand for microprocessor controllers and ability to detect fast moving objects in short range. Based on the application, the global ultrasonic sensor market is segmented into the liquid level measurement, pallet detection, distance measurement, object detection, anti-collision detection, and others. The liquid level management segment is expected to hold the major market share in the global ultrasonic sensor market, during the forecast period. By industry, the global ultrasonic sensor market is segmented into automotive, power, oil & gas, material handling, chemicals, agriculture, construction, paper and pulp, medical & healthcare, aerospace & defense, food and beverages, and others (textile industries, printing, and metal working). The food and beverages segment is expected to hold the major market share in the global ultrasonic sensor market, during the forecast period.

Key players profiled in the global ultrasonic sensor market are TRW automotive, Bosch, Denso Corporation, Emerson Electric Co., Honeywell International Inc., AMETEK Inc., Baumer Group, Maxbotix Inc., Airmar Technology Corp., Siemens AG, Branson Ultrasonic Corp., Cameron Measurement Systems, Johnson Control Inc., Acuity Brands Inc., Senix Corporation, Leviton Manufacturing Co., OMRON Corporation, Lutron Electronics Co., TEXAS Instruments Inc., Gems Sensors & Controls, Rockwell Automation Inc., Keyence, Balluff, Microsonic GmbH, APC International, Crest Ultrasonic Corp., Migatron, Murata Manufacturing Co., and Toshiba America Medical Systems.

Browse full research report with TOC on “Global Ultrasonic Sensor Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023” at:  https://www.energiasmarketresearch.com/global-ultrasonic-sensor-market-outlook/ 

Key Findings of the Global Ultrasonic Sensor Market Report:

• The Ultrasonic Sensor Market is expected to reach USD 2076.3 Million by 2023 at CAGR of 18.4%
• Based on type:
  • The ultrasonic proximity sensor segment was the largest segment in the global ultrasonic Sensor market in 2016
  • The ultrasonic through-beam sensor segment is expected to be the fastest growing market segment in the global ultrasonic sensor market during the forecast period
• Based on the application:
  • The liquid level management segment was the largest segment in the global ultrasonic sensor market in 2016
• Based on industry:
  • The food and beverages segment was the largest segment in the global ultrasonic sensor market in 2016
• Ultrasonic sensor technology has the wide application in various sectors such as chemicals, agriculture, construction, paper & pulp, medical & healthcare, food and beverages, aerospace & defense, material handling, robotics, automotive, manufacturing industries, and others.
• In the healthcare sector, the ultrasonic sensor technology is used in diagnosis of various health related issues such as pregnancy monitoring, kidney stones diagnosis, mammary and thyroid glands diagnosis, abdomen diagnosis, vascular diagnosis, cardiology diagnosis, trans-vaginal and trans-rectal diagnosis, and eye axis length measurement
•  Asia-Pacific region is expected to be the fastest growing market in the global ultrasonic sensors market owing to rising demand for ultrasonic sensor in the healthcare sector, and growing China automotive sensors market.
• Europe is accounted to hold the major share of the global ultrasonic sensor market, owing to increasing need for parking assistance systems

Global Ultrasonic Sensor Market– Helping Industries to Provide Safety and Quality in an Efficient Way

The ultrasonic sensor technology finds its application in various sectors such as chemicals, agriculture, construction, paper & pulp, medical & healthcare, food and beverages, aerospace & defense, material handling, robotics, automotive, and manufacturing industries. The ultrasonic sensor can sense the edge of a material as a part of web guiding system, widely used in cars as a parking sensor to help the driver in reversing vehicle. Ultrasonic level measurement devices are mounted at the top of the vessel due to which they are less likely to offer leakage problems.

Global Ultrasonic Sensor Market - Regional Insight

Geographically, the global ultrasonic sensor market is segmented into North America, Asia-Pacific, Europe, and Rest of the World (RoW). Europe is expected to hold the major share in the global ultrasonic sensor market during the forecast period. The factor driving the growth of the European ultrasonic market is increasing need for parking assistance systems. However, Asia-Pacific region is expected to be the fastest growing market of the global ultrasonic sensor market during the forecast period. The factors propelling the growth of the ultrasonic sensor market in the Asia-Pacific region are rising demand in the healthcare sector, and growing China automotive sensors market. Furthermore, the increasing installation of the urban traffic driving-aid systems also fuels the Asia-Pacific market.

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