According to the report titled ‘Ultrasonic Sensors Market Size, By Type (Retro-reflective Sensor, Through-beam Sensor), By Application (Level Measurement, Obstacle Detection, Distance Measurement), Industry Verticals (Automotive, Consumer Electronics, Industrial, Healthcare, Aerospace & Defense), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027,’ available with MarketStudyReport, global ultrasonic sensors market is expected to accrue remarkable returns during the period 2021-2027.
 

Surging incorporation of ultrasonic sensing in consumer electronics, medical devices, and vehicles, along with rising adoption of IoT in emerging economies, and proliferation of industrial automation & robots in the manufacturing sector are factors propelling the growth of global ultrasonic sensors market.

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Moreover, elevated usage in smartphones, coupled with soaring demand for autonomous safety systems in vehicles are augmenting the progress of the market.

For the unversed, ultrasonic sensors are devices that are used to measure the distance between objects with ultrasonic sound waves.

Despite the positive outlook, the restricted detection range of sensing devices is likely to hinder the industry development in the coming years.

Based on application spectrum, the others segment is anticipated to progress at 12.5% CAGR during the forecast period, owing to the growing acceptance of these sensors in loop control applications and diameter measurement for industrial equipment.

In terms of industry verticals, the consumer electronics segment of worldwide ultrasonic sensors market is estimated to record an annual growth rate of 9.5% through 2027, attributed to the rising number of innovations for the integration of ultrasonic sensing in smartphones.

From a regional point of view, Middle East & Africa market is poised to witness a notable growth of 5.5% during the assessment timeframe, given the immense penetration of industrial automation in oil refineries.

The competitive landscape of global ultrasonic sensors industry is defined by companies such as Rockwell Automation Inc., Balluff Inc., Robert Bosch GmbH, Banner Engineering Corporation., Pepperl+Fuchs AG, Baumer Ltd., Datalogic S.p.A., Omron Corporation, Gems Sensors, Inc., Murata Manufacturing Co. Ltd., Hans Turck GmbH & Co. KG, Migatron Corporation, Hella GmbH & Co. KGaA, Microsonic GmbH, IFM Electronic GmbH, and Keyence Corporation among others.