Ultrasonic Sensor Market Synopsis:
The global Ultrasonic Sensor Global Market was valued at USD 356.4 million in 2017 and is expected to reach USD 689.1 million by the end of the forecast period with a CAGR of 12.3%. The ultrasonic sensor industry is an electronic device that measures the distance between two moving or stationary objects using ultrasonic waves. The distance is calculated by emitting an ultrasonic wave from the sensor transmitter and reflected from the target. The factors boosting the market growth include the rising adoption of these sensors in the industries for manufacturing. Moreover, the increasing adoption of smart factories has further created a high demand for ultrasonic sensors in the market. The ultrasonic sensors house certain features that make them suitable for industrial use. These include the distance between transparent objects, resistance to mist and dirt, and detecting complex shaped objects. Moreover, an ultrasonic sensor is used for their reliability in various sensor applications such as water level sensing, and the presence, level, position, and measurement. The major applications of ultrasonic sensors include distance measurement, water level detection, and obstacle detection.
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Ultrasonic Sensor Market Key Players:
The key players in the ultrasonic sensor market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are— Siemens AG (Germany), Pepperl+Fuchs GmbH (Germany), Honeywell International, Inc (US)., Murata Manufacturing Co. Ltd (Japan), Rockwell Automation, Inc (US), Robert Bosch GmbH (Germany), Baumer Ltd (Italy), Schneider Electric SE (France), MaxBotix Inc (US), and Omron Corporation (Japan). These players contribute a major proportion towards market growth.
Apart from the top key players, the other players contribute nearly 30–35 % in the ultrasonic sensor market. These include Migatron Corporation (US), Hexamite LTD (US), Judd Communication (US), IFM Efector, Inc (US)., BeStar Technologies, Inc (US), TE Connectivity Ltd (Switzerland), Endress+Hauser (Switzerland), Addison Electric, Inc. (US), Jamieson Equipment Co., Inc (US), Simtech Process Systems (US), Nex Flow Air Products Corp (Canada), Optical Scientific, Inc (US). and others.
Ultrasonic Sensor Market Segmentation:
The global ultrasonic sensor market is segmented into product, application, and region.
By product, the market is segmented into ultrasonic through beam sensor, ultrasonic proximity sensor, and ultrasonic retro-reflective sensor.
By application, the market is segmented into anti-collision detection, distance measurement, liquid level measurement, and object detection
By region, the ultrasonic sensor market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
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Ultrasonic Sensor Market Regional analysis:
The global market for ultrasonic sensor is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of ultrasonic sensor market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
Europe and Asia-Pacific turn to be the dominating regions in terms of revenue generation. The growth in these countries such as China and Germany are due to the high presence of manufacturing industries that make ultrasonic sensors and export these sensors for different applications across the globe. Moreover, the facilities in these countries have adopted a smart approach to manufacturing that has led to an increased demand for ultrasonic sensors. One of the biggest growth factors in the ultrasonic sensors market is the rising adoption of automation for efficient manufacturing and improved communication further increasing the flexibility in the manufacturing process. Other than these countries, the US, and Canada pose a bigger challenge for China as being one of the largest countries with higher technical capabilities. North America is expected to take the market lead by 2019 as various start-ups and MNC are deploying smart factories.
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