Report ID: 10347576 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
Global Ultrasonic Sensors Market is valued approximately at USD 3.69 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.6% over the forecast period 2020-2027. Ultrasonic Sensors are electronic devices that measures the distance of a target object through emitting the ultrasonic sound waves and convert that reflected sound into the electrical signals. The increasing use of ultrasonic sensors for the detection of object and detection of pallet among the various industries as well as the diverse range requirement of material, handling, hygiene detection and processing are the major factors driving the growth of market in the forecast period. In October 2018, the merger of investors, including University of Bristol and IP group plc, for the development of ultrasonic sensors used for corrosion, monitoring cracks, and defects in metals. These sensors will enable the detection of defects in objects furthermore, in consideration to increase in demand for ultrasonic sensors for robotic applications such as object detection. However, the presence of other alternative sensing technology and inadequate manufacturing quality of sensor as per user expectation may impedes the growth of the market over the forecast period of 2020-2027. Also, the increasing demand of ultrasonic sensor in the medical industry for the use of application such as echo graphs and echo cardiograms is likely to increase the market growth during the forecast period.
The regional analysis of global Ultrasonic Sensors market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the increasing demand of minimally invasive surgeries, in these surgeries the ultrasonic sensors enable surgeons to operate with high precision. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising demand for factory automation would create lucrative growth prospects for the Ultrasonic Sensors market across Asia-Pacific region.
Major market player included in this report are:
Balluff Inc
Banner Engineering Corp.
Baumer
Hans Turck GmbH & Co. KG
Ifm electronic GmbH
Murata Manufacturing Co., Ltd.
Pepperl+Fuchs GmbH
SICK AG
Siemens AG
Jamieson Equipment Co., Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
Level Measurement
Obstacle Detection
Distance Measurement
Others
By Technology:
Retro-reflective Sensor
Through-beam Sensor
Others
By End use:
Consumer Electronics
Automotive
Aerospace & Defense
Healthcare
Industrial
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Ultrasonic Sensors Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Report ID: 10347576 |
Published Date: 21 Oct 2022 |
Report Format: |
Delivery Timeline: 48-72 Business Hours
