As per a study conducted by P&S Intelligence, the global ultrasonic sensor market reached a value of $4.1 billion in 2019, and it is projected to progress at a 10.2% CAGR during the forecast period (2020–2030). The market us being driven by the rising utilization of ultrasonic sensors in automobiles and surging requirement for these sensors from the manufacturing industry. On the basis of type, the market is divided into proximity detection and range detection, between which, the proximity detection division accounted for the larger share of the market in 2019.

This is because of the increasing utilization of ultrasonic proximity sensors in the food & beverages industry for various processes. Proximity detection sensors are of two types, namely 2 point proximity switch and proximity sensor. In terms of application, the ultrasonic sensor market is categorized into diameter measurement, level measurement, loop control, object & pallet detection, and distance measurement. Among these, the level detection application dominated the market in 2019, owing to the rising requirement for detection and measurement of level of water or fluids in various industries.

When end user is taken into consideration, the ultrasonic sensor market is divided into industrial agriculture, healthcare, automotive, and food & beverage, among which, the automotive industry is predicted to advance at the fastest rate during the forecast period. This is because of the surging requirement for these sensors in self-driving vehicles for hurdle detection applications. A self-driving car needs ultrasonic sensors to measure distance, which further helps the car detect the distance of the object from a long range. This can aid in preventing accidents on roads.

Geographically, Asia-Pacific dominated the ultrasonic sensor market in 2019, which can majorly be ascribed to the surging demand for automation in various industries. In addition to this, the growing focus on smart agriculture and increasing population in the regions are also resulting in the growth of the market. China accounted for the largest share of the regional market in 2019, owing to the expansion of the large manufacturing industries, including chemicals, automotive, and food & beverage in the country. The region is further projected to witness the highest CAGR during the forecast period. 

A major trend being observed in the ultrasonic sensor market is the surging requirement for autonomous mobile robots (AMR) across the globe. Owing to the rising advancements in technology and growing focus towards increasing productivity, efficiency, and operational capacity in industries, the demand for AMRs has been rising rapidly. Automotive and oil & gas are the major industries that are creating the demand for AMRs, thereby driving the market. Ultrasonic sensors are utilized in AMRs for various applications, such as determining the distance between two objects and detecting obstacles.

The increasing demand for ultrasonic sensors by veracious industries is among the key driving factors of the market. These sensors are being in utilized in industries for a number of applications, such as diameter measurement of roll, tank water level measurement, loop control, height measurement, and distance measurement. In addition to this, the increasing industrial production in developing countries are further leading to the rising demand for these sensors, particularly for level measurement applications.

Hence, the demand for ultrasonic sensors is growing due to surging need from end use industries and rising demand for AMRs. 

Source: P&S Intelligence