Ultrasonic Sensor Market Size, Share & Industry Analysis, By Type (Proximity Detection, Through-beam Sensors, and Retro-reflective Sensors), By Application (Tank Level Monitoring, Distance Measurement, Object Detection, Collision Avoidance, and Others), By Industry (Automotive, Healthcare, Industrial Automation, Consumer Electronics, Aerospace & Defense, and Others), and Regional Forecast, 2024-2032

The global ultrasonic sensor market size was valued at USD 5.18 billion in 2023 and is projected to grow from USD 5.75 billion in 2024 to USD 15.59 billion by 2032, exhibiting a CAGR of 13.3% during the forecast period (2024-2032).

An ultrasonic sensor is an electronic gadget that calculates the distance of a marked object by transferring ultrasonic sound waves and changing the reproduced sound into an electrical flag. These waves travel quicker than the speed of audible sound. Moreover, ultrasonic sensor work includes sound waves to find the distance to an item. A transducer is additionally there to transmit and get ultrasonic beats. These beats offer assistance in communicating data around a question inside the run. These sensors are utilized in different applications, such as car self-parking and anti-collision safety systems, robotic object detection systems, the medical sector, and others.

Furthermore, the COVID-19 pandemic aided in introducing different applications for ultrasonic sensors. The pandemic surge in hospitalization rates, COVID-19 related mortality, lockdowns, and social distancing norms, is driven by the burden of rigid lockdowns and social separating standards. In addition, the demand for these sensors is also growing for sanitization bands as these bands have integral UV light and proximity sensors, that sense when the customer’s hand is nearby an object and spontaneously disinfects the object via alcohol-based spray and UV-light. Therefore, these sensors gained significant momentum during the wake of the pandemic to follow social distancing norms by measuring the distance between workers accurately. Thus, the pandemic had a moderate impact on the market.

IMPACT OF GENERATIVE AI

Deployment and Integration of Generative AI in the Product to Create Growth Opportunities

The adoption of generative AI has a profound impact on the ultrasonic sensor market by enhancing sensor technology through improved signal processing algorithms, enabling more accurate and efficient detection capabilities. It is also expected to facilitate the development of novel applications for the product, leading to increased demand and innovation in the market. Furthermore, AI-driven optimization streamline sensor design and manufacturing processes, potentially reducing costs and increasing accessibility to these technologies. Thus, this factor boosts the growth of the ultrasonic market.

Ultrasonic Sensor Market Trends

Rising Development in the Product among Organizations to Fuel the Market Growth

The rising advancement in these products, together integration with data collection, is expected to create business opportunities in the market during the forecast period. These gadgets, have given birth to a critical innovation, when coupled with the capabilities of the web, offer vigorous observing arrangements with the utilization of these products associated with gadgets that are network-enabled. The sensors can assemble information from resources and exchange it to central gadgets for information preparation. With this, support and unwavering quality programs can be moved forward essentially. Therefore, this factor is expected to drive the global ultrasonic sensor market growth.

Ultrasonic Sensor Market Growth Factors

Increasing Usage of the Product Across Several Industries to Drive the Market Growth                  

Ultrasonic sensors are utilized within the medical sector for ultrasonography, within the automotive field, in gesture recognition and parking assistance systems, in fingerprint sensors, smart homes, smart robots, and in consumer segment applications. Moreover, in industrial applications, these sensors are utilized in non-destructive testing and automation of volume, flow, and thickness estimations. Such broad applications of these sensors are anticipated to expand the development of the ultrasonic sensors globally. In addition, the need for V2X (vehicle to everything) and urban parking solutions innovation is triggering the demand for these sensors in ADAS to improve road safety, energy savings, and traffic efficiency on the roads. Hence, this factor drives the market growth.

RESTRAINING FACTORS

Concerns Over Short Detection Range May Hinder the Market Growth

The constrained location extension of ultrasonic sensors is one of the major factor hindering the growth of the market. The speediness of these waves slowly decreases from more than 20,000 Hz when roaming lengthy distances, which results in audible waves. Moreover, these sensors are somewhat expensive, particularly if they have sophisticated features or a high degree of precision. Adoption may be hampered by this high expense, particularly for programs with limited funding. Therefore, these factors slow down the market growth.

Ultrasonic Sensor Market Segmentation Analysis

By Type Analysis

Increasing Production of Retro-reflective Devices in Several Industries to Propel the Segment Growth

On the basis of type, the market is categorized into proximity detection, through-beam sensors, and retro-reflective sensors.

The retro-reflective sensors segment dominates the market and is expected to continue its dominance during the forecast period. These sensors are broadly integrated into mobiles owing to their compact nature. The quick infiltration of smartphones and the increasing consumer interest in novel devices such as fingerprint scanners are poised to increase the demand for retro-reflective sensors. These sensors are also widely utilized in metalworking, production line computerization, life science, and cars to identify small pallets of painted plastic while passing over a conveyor belt. Furthermore, the continuing R&D innovation in the stream of photoelectric and optoelectric sensors is poised to accelerate the production of retro-reflective devices. Hence, this factor promotes the retro-reflective segment growth.

Moreover, the proximity detection segment is expected to witness the highest growth rate during the forecast period. These sensors are highly accurate in detecting objects within their proximity, providing precise distance measurements. They can be operated without physical contact with the object being detected, minimizing wear and tear and eliminating the risk of damage to both the sensor and the object. Thus, this factor boosts the growth of the proximity detection segment.

By Application Analysis

Deployment of Object Detection Capabilities in Sensors to Boost the Segment Growth

On the basis of application, the market is categorized into tank level monitoring, distance measurement, object detection, collision avoidance, and others.

The object detection segment dominates the market with the maximum global ultrasonic sensor market share. These sensors are equipped with object detection capabilities and can enhance safety by alerting operators or autonomous systems of potential hazards in their path, preventing collisions and accidents. Moreover, object detection enables vehicles, robots, and other systems to navigate around obstacles in the real-time, reducing the risk of damage to both the equipment and surrounding objects. Thus, this factor boosts the object detection segment growth.

Furthermore, the collision avoidance segment is expected to grow at the highest CAGR during the forecast period. These products are widely utilized in vehicle collision evasion frameworks due to the expanding utilization of these frameworks. Rigid government arrangements and directions related to the establishment of vehicle security systems, such as collision shirking frameworks and airbags, have assisted and fueled the segment's growth.

By Industry Analysis

Increasing Adoption of Ultrasonic Applications in the Healthcare Sector to Drive the Segment Growth

On the basis of industry, the market is categorized into automotive, healthcare, industrial automation, consumer electronics, aerospace & defense, and others.

The healthcare segment held the largest market share in 2023. The medical field has multiple applications of the product, including echocardiography, lithotripsy, and ultrasonography. The demand for the product for medical applications is expanding as these sensors are risk-free substitutes for radiography solutions and alternatives to piezoelectric sensors. These sensors are widely utilized in therapeutic applications as they can visualize the inner condition of the human body without any harm. In addition, these sensors are utilized for different restorative assessments, counting the determination of inner body organs such as kidneys, liver, and gallbladder, and for observing the development of the baby and the wellbeing of pregnant ladies. As these products can perform real-time visualization, they are utilized for tissue biopsy, inspecting and finding the target organ. Hence, this factor boosts the healthcare segment growth.

Moreover, the automotive segment is expected to grow at the highest CAGR during the forecast period. In the automotive sector, these sensors are used in various applications due to their reliability, accuracy and versatility. They are commonly used in parking assistance systems to detect obstacles, such as other vehicles, pedestrians, or objects in the vehicle’s vicinity. They provide drivers with audible or visual warnings to help them manoeuvre safely into parking spaces. Thus, this factor boosts the automotive segment growth.

REGIONAL INSIGHTS

In terms of region, the global market is divided into five key regions: North America, South America, Europe, the Middle East & Africa, and the Asia Pacific. They are further segmented into countries.

Europe accounts for the largest market share. This is due to the growing number of manufacturers of emerging products that can address the necessities of individuals and can be used in different industries. The European automotive industry is a major user of the product. These sensors are used in a variety of applications, such as blind spots, parking assistance, and others. Thus, this factor promotes the market growth in the region.

The Asia Pacific is anticipated to witness the highest CAGR during the forecast period. The quickly growing automotive industry and the rising demand for security and advanced safety systems are driving the growth of the sensor market in the region. The rising demand for the product in the industrialized sector for applications such as distance measurement and level measurement is also contributing to the growth of the market in this region. Furthermore, the rising investments in research and development activities for the development of advanced ultrasonic sensors and the increasing demand for energy-efficient and recyclable products are also driving the growth of the market in the region.

North America is anticipated to exhibit steady growth over the forecast period. The U.S. is the largest market for ultrasonic sensors in the region due to the growing demand for sensors in several end-use industries, including healthcare, oil and gas, and automotive. Furthermore, the automotive industry has been an essential driver for the growth of the market in the region. These sensors are used in parking assistance systems, blind-spot detection systems, and driver assistance systems, among others, in automobiles. Moreover, the implementation of automation and IoT technologies in industries such as manufacturing and healthcare has been a key factor driving the growth of the market in North America. Thus, these factors promote the market growth in the region.

Similarly, South America is showing substantial growth in this market due to the increasing investments in infrastructure development. Moreover, governments are taking some initiatives to promote AI and digital transformation strategies, market players are investing in the region, expanding their offerings and developing tools to simplify this security application for their businesses.

List of Key Companies in Ultrasonic Sensor Market

Market Players Adopt Merger & Acquisition Strategies to Expand Their Operations

Prominent firms in the industry are actively broadening their global presence by presenting specialized solutions made to specific sectors. They are strategically opting for collaboration and acquiring local companies to establish a robust foothold in various regions. These companies are focused on creating effective marketing approaches and developing new solutions for maintaining and increasing their market share. Moreover, the rising demand for ultrasonic applications is expected to create lucrative opportunities for the market players.

List of Key Companies Profiled:

• Rockwell Automation, Inc. (U.S.)


• Ballauff Automation India Pvt. Ltd. (India)


• Banner Engineering Corp. (U.S.)


• Baumer (Switzerland)


• Hans Turck Gmbh & Co. KG (U.S.)


• Honeywell International Inc. (U.S.)


• Murata Manufacturing Co. Ltd. (Japan)


• Omron Corporation (Japan)


• Pepperl + Fuchs Pvt. Ltd. (Germany)


• SICK AG (Germany)

KEY INDUSTRY DEVELOPMENTS:

• August 2023: Siemens declared acquisition with Heliox for the growing eTruck and eBus fast charging solutions. This acquisition adds value to Siemens mobility charging portfolio solutions and products in the fast-growing mobility charging businesses.


• June 2023: Honeywell International Inc. announced the launch of the DG Smart Sensor, a solution intended to enhance the reliability and efficiency of controlling and monitoring low-pressure combustion fuel gases and air. This product bids exact monitoring capabilities and holds the digitalization trends united with Industry 4.0, providing a chance to improve combustion system performance and change the operational dynamics for end users, OEMs, and system integrators.


• June 2023: Murata Manufacturing Co. Ltd. declared the introduction of MA48CF15-7N, a new ultrasonic sensor device envisioned for distribution in automotive applications and has great sensitivity and fast responsiveness in a hermetically-sealed set to defend against liquid ingress.


• March 2023: Rockwell Automation Inc. announced the acquisition of Knowledge Lens. The acquisition between the firms increases the ability to aid more manufacturers globally to discover and use unseen insights in their information to drive game-changing value for their businesses.


• January 2023: Honeywell expanded its partnership with Nexceris to make electric vehicles safer. The collaboration is expected to co-develop sensor-based arrangements to aid in preventing conditions driving the current runaway in EV series that cause especially high temperatures in the battery cell and can result in a fire.

REPORT COVERAGE

The report provides a detailed analysis of the market and focuses on key aspects such as prominent companies, product/service types, and leading applications of the product. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market in recent years.

Report Scope & Segmentation