DUBLIN , Feb. 17, 2023 /PRNewswire/ -- The "Global Ultrasonic Sensors Market, By Type, By Application, End User, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global ultrasonic sensors market held a market value of USD 4,947.8 million in 2021 and is projected to reach USD 11,693.4 million by the year 2030. The market is projected to list a CAGR of 10.3% during the forecast period. Hydraulic Parts
Its increasing use in smart consumer electronics like smartphones, laptops, tablets, and other devices is said to be the cause of the market expansion. These gadgets have had ultrasonic sensors added to them so that security applications can benefit from biometric sensing technology. These sensors are being integrated by a number of consumer electronics OEMs, including Samsung and Xiaomi, to offer fingerprint detection, facial recognition, and biometrics. Rising government initiatives and investment activities to support AI-based robots in surveillance systems are driving the industry's growth. For instance, the South Korean government announced in June 2021 that it would invest USD 2.5 million through the Defense Acquisition Program Administration (DAPA) to use moving robots as a component of AI surveillance systems in the defence sector. The robotic device will look for motion on rail tracks close to the border with North Korea . The devices will be able to recognise and follow moving objects thanks to high-resolution cameras and ultrasonic sensors. Such projects will provide significant benefits for the use of ultrasonic sensors in the military and defence industry. Increased government initiatives to encourage the adoption of self-driving and electric vehicles in order to reduce emissions levels are what are driving the worldwide ultrasonic sensors market. For instance, in April 2021 , the UK government authorised testing of driverless cars on its roads. The UK government has also announced that starting in 2021, automakers will be permitted to equip their vehicles with the Automated Lane-Keeping System (ALKS) for those with speed limits up to 37 mph. These systems, which combine ultrasonic sensors to enable drivers to make decisions about collisions, will likely drive industry expansion over the coming years. Growth Influencers: Growing ultrasonic sensor use in the healthcare industry Due to its increasing application in point-of-care medical equipment including ultrasound machines and blood glucose metres, the ultrasonic sensor market is growing. These sensors are widely utilised in radiography and ultrasound equipment for medical imaging. The tool offers live views of internal body parts like internal organs, tendons, bones, and ligaments. Additionally, some local manufacturers are working on adding ultrasonic sensors into their medical devices to fulfil the growing market need. Rising adoption of surveillance drones Unmanned aerial vehicles (UAVs) and surveillance drones are becoming more and more common in the area, which is increasing the sector's worth. In April 2021 , the Federal Aviation Administration (FAA) issued a press release stating that there were 1.1 million drones and unmanned aerial vehicles (UAVs) in use around the country. Of the UAVs and drones that were operational, commercial UAVs made up 367,848 while recreational drones made up 502,105. These UAVs can be used for transportation, inspection, mapping, distance measurement, and surveillance thanks to their ultrasonic sensors. UAV acceptance in delivery services will be fueled by the nation's thriving e-commerce business, further boosting industry revenue. Segments Overview: The global ultrasonic sensors market is segmented into product type, application, material type, packaging type, and end user. By Type
The ultrasonic proximity sensors segment held the highest market share of 60% in 2021. By Application
The liquid level measurement segment is expected to hold the highest CAGR of 10.8% during the forecast period. By End Users
The production plants segment is estimated to hold the highest CAGR of 11% during the forecast period. The global ultrasonic sensors market report answers questions such as: What is the market size and forecast of the global ultrasonic sensors market? What are the inhibiting factors and impact of covid-19 on the global ultrasonic sensors market during the assessment period? Which are the types/segments/applications/areas to invest in over the assessment period in the global ultrasonic sensors market? What is the competitive strategic window for opportunities in the global ultrasonic sensors market? What are the technology trends and regulatory frameworks in the global ultrasonic sensors market? What is the market share of the leading players in the global ultrasonic sensors market? What modes and strategic moves are considered favorable for entering the global ultrasonic sensors market?
Estimated Market Value (USD) in 2021
Forecasted Market Value (USD) by 2030
Key Topics Covered: Chapter 1. Research Framework Chapter 2. Research Methodology Chapter 3. Executive Summary: Global Ultrasonic Sensors Market Chapter 4. Global Ultrasonic Sensors Market Overview Chapter 5. Global Ultrasonic Sensors Market, By Type Chapter 6. Global Ultrasonic Sensors Market, By Application Chapter 7. Global Ultrasonic Sensors Market, By End User Chapter 8. Global Ultrasonic Sensors Market Analysis, By Region Chapter 9. North America Ultrasonic Sensors Market Analysis Chapter 10. Europe Ultrasonic Sensors Market Analysis Chapter 11. Asia Pacific Ultrasonic Sensors Market Analysis Chapter 12. Middle East and Africa Ultrasonic Sensors Market Analysis Chapter 13. South America Ultrasonic Sensors Market Analysis Chapter 14. Company Profile A selection of companies mentioned in this report includes
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