According to the research report titled ‘Global Ultrasonic Sensors Market Size study, by Type (Level Measurement, Obstacle Detection, Distance Measurement, Others), Technology (Retro-reflective Sensor, Through-beam Sensor, Others) End use (Consumer Electronics, Automotive, Aerospace & Defense, Healthcare, Industrial, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global ultrasonic sensors market was worth USD 3.69 billion in 2019 and is expected to register 6.6% CAGR with a valuation of USD 5.30 billion over 2020-2027.
 

Incorporation of varying range of sensors for applications like hygiene detection, material, processing, and handling, coupled with surging adoption for monitoring object as well as pallet across different industries are augmenting the growth of the global ultrasonic sensors market.

 

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In October 2018, University of Bristol and IP Group plc with other investors entered into a partnership with an aim to develop ultrasonic sensors for detecting corrosion, cracks, and defects in metals.

 

For the unversed, ultrasonic sensors are electronic appliances which helps in calculating the distance of an object by emitting the ultrasonic sound waves, thereby converting that reflected sound into the electrical signals.

 

Surging demand of ultrasonic sensor in medical appliances for examining echo cardiograms as well as echo graphs, in consort with integration with robotic applications are also expected to boost the growth of global ultrasonic sensors market.

 

On the contrary, deficient manufacturing quality according to user expectation as well as presence of alternative sensing technology might restraining the expansion of marketspace.

 

Based on type, worldwide ultrasonic sensors market is bifurcated into distance measurement, obstacle detection, level management, and others. Speaking of technology, the industry is divided into through-beam sensor, retro-reflective sensor, and others. In terms of end user terrain, the marketplace comprises of aerospace & defense, industrial, automotive, healthcare, consumer electronics, and others.

 

From regional point of view, Europe held major portion of worldwide ultrasonic sensors market share in the recent past, creditable to surging demand for minimally invasive technologies, wherein the sensors help in operating with accuracy. Parallelly, Asia Pacific market is anticipated to record strong growth rate over 2020-2027, owing to increasing demand for factory automation.

 

Some of the leading players in global ultrasonic sensors market are Banner Engineering, The Turck Group, Ifm electronic, Balluff Inc., Pepperl+Fuchs SE, Murata Manufacturing Co. Ltd., Jamieson Equipment Company Inc., Baumer Holding AG, Siemens AG, and Sick AG among others.