Ultrasonic Sensors Market Forecast: 12.0% CAGR Growth Predicted by 2030

The global ultrasonic sensors market is estimated to register a CAGR of 12.0% during the forecast period of 2022-2030. Ultrasonic Sensors Market size is expected to grow from US$ 5,138.4 Million in 2022 to US$ 13,241.8 Million by 2030.

Ultrasonic sensors are widely used in robotics as these sensors are not affected by moisture, dust, and dirt and are also used in a dark environment since the light does not affect the sensor’s detection ability. Furthermore, use of robotics for obstacle avoidance with real time communication is also projected to drive the market.

Ultrasonic sensors are used in robotics to avoid the obstacle in their way, so that they can move toward the target area. Moreover, ultrasonic sensors are utilized to detect the large obstacle and to obtain information between the robot and obstacle. They help robots for object detection, tracking an object, and detecting the position of object to avoid collision and ensure task is carried out without any hindrance.

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Key Takeaways: Ultrasonic Sensors Market

The ultrasonic sensors market is poised for significant growth, particularly in the automotive industry, which is estimated to achieve a CAGR of 15.5% due to the increasing demand for anti-collision and distance measurement sensors.

In 2020, the liquid level measurement segment led the market with a 38.5% share, followed by distance measurement and object detection. The through beam sensors segment is anticipated to experience a 12% year-on-year growth, driven by features like powerful acoustic beams. Additionally, the South Asia and Pacific region is expected to register a high CAGR, fueled by the healthcare sector's need for advanced imaging technologies.

COVID-19 Impact Analysis on Ultrasonic Sensors Market

The COVID-19 pandemic has impacted businesses globally.  The severe lockdowns have disrupted the production of ultrasonic sensors as the raw material supply chain remains distraught.

While the situation continues to be serious with governments still imposing physical distancing norms for protection, supply chains are slowly normalizing.

However, the demand for ultrasonic sensors is going to take a while to pick up as its related industries have witnessed a slump. Besides being an important part of automation, it is also used in healthcare, a sector that will be the key revenue generator. Reduced to no sales of automobiles is projected to hit the market very hard in the coming days. On the other hand, a raised consciousness about smart homes and lighting solutions is expected to bode well for the market.

Increasing Adoption of Ultrasonic Sensors in Medical Applications

The demand for ultrasonic sensors for medical applications is increasing as these sensors are risk-free substitutes for radiography solutions and alternatives to piezoelectric sensors. Ultrasonic sensors are widely used in medical applications as these sensors can visualize the internal condition of the human body without any damage.

They are used for various medical inspections including diagnosis of internal body organs like kidneys, liver, and gallbladder, and for tracking the growth of a fetus and its health condition. As the ultrasonic sensors have the ability of real-time visualization, they are used for tissue biopsy sampling while locating the target organ.

Ultrasonic sensors are also used for close examination of eyes, cardiac diagnosis, and also for breast cancer check-ups to detect the presence of lumps under the breast. For detecting any physical abnormality of the uterus, uterus examination is done by using ultrasonic sensors. Moreover, ultrasonic sensors also help in detecting arteriosclerosis by checking the intimal thickness measurement, blood flow and endothelial function test.

The extensive usage of these sensors in the healthcare segment is projected to play an important part in offsetting the losses in the long term. The adoption of ultrasonic sensors in medical field is estimated to grow by 1.5X from 2019 to 2020.

Key Players 

Leading key players in the industrial automation sector include Rockwell Automation, known for its advanced control systems; Siemens AG, a global powerhouse in automation and digitalization; Honeywell International, a leader in industrial software and technology; Balluff GmbH, specializing in sensor and automation solutions; Pepperl+Fuchs AG, recognized for its innovative sensor technology; Baumer Ltd, providing precision sensor solutions; and Murata Manufacturing Co., Ltd, renowned for its electronic components and modules, each driving advancements and efficiencies in their respective niches.