Global Ultrasonic Sensors Market is Estimated to Reach $1,835 Million by 2025, Says Accurize Market Research
Global ultrasonic sensors market report published by Accurize Market Research forecast that the global market is expected to reach $1,835 Million by 2025; growing at a CAGR of 17.6% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Upsurge in demand from healthcare and pulp & paper industry across the globe to drive the growth of the market
Need for advanced features in vehicles, rise in demand from healthcare and pulp & paper industry fuel the demand for the global ultrasonic sensors market. Moreover, increasing popularity of wearable medical devices and increasing need for automation across various industries also boost the growth of the market.
The global ultrasonic sensors market has been bifurcated on the basis oftype, application, industry and geography. Type segment is categorized as ultrasonic through beam sensors, ultrasonic proximity sensors, ultrasonic reflective sensors and ultrasonic 2 point proximity switches. Further,applications segment includes distance measurement, anti-collision detection, liquid level measurement, object detection, pallet detection and others.Industry is further categorized into food & beverages, automotive, chemicals, healthcare, aerospace & defense, oil & gas, agriculture, pulp & paper, material handling, construction and others.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Germany, France, Italy and others. Asia-Pacific covers China, South Korea, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
“Ultrasonic proximity sensors accounted for the largest market share in the type segment", says Accurize
By type, ultrasonic proximity sensors segment accounted for the largest market share in 2017whereas ultrasonic through beam sensors is expected to dominate the market with highest CAGR during the forecast period 2017-2025. Liquid level measurement accounted for the highest market share in 2017.
“Pulp and paper industry accounted for the largest market share in the industry segment", says Accurize
By industry segment, pulp and paper industry is expected to dominate the industry segment during the forecast period 2017-2025, owing to its ability to analyze their mechanical properties to determine the quality of paper.
“Europe dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, Europe accounted the largest share of the market, owing to the rising need for intelligent parking assist systems and enhancement of new car safety assessment standard. Asia Pacific is anticipated to dominate the market with fastest CAGR during the forecast period, owing to the increase in production, automation and decreasing prices of sensor components.
Top players in the market
The key market players include Rockwell Automation, Inc., Toshiba America Medical Systems, Inc., OMRON Corporation, Murata Manufacturing Co., Ltd., Honeywell International Inc., GE Healthcare, Ltd., Branson Ultrasonic Corp., APC International Ltd., Siemens Ag, and Pepperl+Fuchs GmbH among others.
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