iCrowd Newswire – Jul 27, 2020
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.
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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.
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 objective of this research includes;
- Historical and the present size of the ultrasonic sensor market
- Future potential of the market through its forecast for the period 2020– 2030
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the gene therapy market and their service offerings
- Recent strategic developments by the major players in the market
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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.
The research includes detailed analysis of;
Based on Type
- Range Measurement
- Through beam sensor
- Retro-reflective sensor
- Proximity Detection
- Proximity sensor
- 2 point proximity switch
Based on Application
- Level Measurement
- Distance Measurement
- Object & Pallet Detection
- Loop Control
- Diameter Measurement
Based on End User
- Food & Beverage
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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