Ultrasonic Sensors Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

Ultrasonic Sensors Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The ultrasonic sensors market is expected to grow at a CAGR of 10.2% during the forecast period. During the COVID-19 pandemic, offices and factories were required to create an environment where social distancing between workers and safe work practices was ensured to reduce the spread of the virus. Multiple solutions based on ultrasonic sensor technology are attracting attention to measure distances between workers accurately. Ultrasonic sensors are the wireless technology best suited to contact tracing and social distancing due to their high accuracy compared to other technologies, such as Bluetooth and Ultra Wide Band (UWB).

Key Highlights

• Ultrasonic sensors are widely used for non-contact detection of solid and liquid state objects. These sensors operate at frequencies higher than 20 kHz, which is above the sonic range audible to humans. Widely used in robots, autonomous guided vehicles, and drones, ultrasonic sensors are common in a range of applications. Ultrasonic sensors provide relatively precise measurements, with errors usually within 1%. They can make many measurements per second, yielding quick refresh rates. Additionally, they are usually quite cheap because they do not need rare materials.
• The outlook of the market studied is positive and is expected to grow significantly due to the emergence of enhanced applications in high-growth sectors, such as healthcare, automotive, and machine handling, along with the fingerprint-based application that is gaining traction in consumer products. These sensors offer better price-performance than other forms of sensors by relying on economies of scale advantages.
• Owing to their real-time visualization ability, sensors can also be used for tissue biopsy sampling or therapeutics while locating target organs. These sensors are also used to diagnose internal organs, including the kidneys, liver, pancreas, and gallbladder, or for observing the fetal growth and health condition of pregnant women.
• Automotive functions, such as cruise control, driver assistance, and anti-theft systems, use ultrasonic sensors. Additionally, they are also being used in various applications for distance measurement in the material handling sectors. Ultrasonic sensor manufacturers in the market have been offering multiple variants of ultrasonic sensors with additional capabilities like open structures, waterproofing, and external casing to reduce damage. Thus, with the expected increase in ADAS systems in the future, ultrasonic sensors will also witness a proportional rise.
• The market is witnessing product developments and research. For instance, in April 2021, The Fraunhofer Institute for Photonic Microsystems IPMS in Dresden developed robust, reliable, and versatile ultrasonic sensors. Due to their small size, the Micromachined Ultrasonic Transducers enable energy-saving, multifunctional, environmentally friendly, and extremely compact sensor systems. Such initiatives by various companies and organizations are expected to contribute to the increase in the demand for ultrasonic sensors in the market.

Key Market TrendsAutomotive Industry to Create Huge Demand for Ultrasonic Sensors

• With the increasing sales and production of automobiles coupled with the increased customer expenditures, the automobile industry is expected to contribute to the growth opportunities for the Global Ultrasonic Sensors Market globally. For instance, the number of motor vehicles manufactured globally was 80 million in 2021 as compared to 78 million in 2020.
• Ultrasonic sensors offer several applications in the automotive sector, such as parking assistance, safety alarms, collision avoidance, object detection, and automatic braking system. They play an important role in the development of technologies such as driver assistance and self-driving systems.
• Ultrasonic sensors are also used to measure the distance of objects. These sensors with long-range radar capabilities are now being integrated with the cruise control systems of automobiles to avoid collisions between vehicles. They are also used at the rear end for detecting distances, parking assistance, and automobile braking control.
• These sensors are used in onboard sensing systems in cars with autonomous and advanced features. These systems rely on ultrasonic sensors for measuring the relative distances of objects from the car.
• Additionally, sensor vendors are offering several ultrasonic sensors with increased capabilities like open structures, waterproofing, and external casing to reduce damage. Thus, with the expected hike in ADAS systems in the future, ultrasonic sensors may witness proportional demand growth.
• Moreover, automotive manufacturers are integrating automation technology in automobiles to increase consumers' comfort, convenience, and safety. The advent of self-driving cars and the installation of collision detection systems to prevent automobiles is expected to accelerate the demand for ultrasonic sensors around the globe.

Asia-Pacific to Account for a Significant Share in the Market

• Asia-Pacific is a major manufacturer and consumer in the ultrasonic sensors market. Market penetration is relatively high in this region, and several automotive and manufacturing giants in the region are boosting the market.
• According to the 13th Five-Year Plan of Smart Manufacturing, China aims to establish its intelligent manufacturing system and complete the key industries' transformation by 2025. At the 2020 National People's Congress, the CCP announced that, in addition to doubling down on its Made in China 2025 and China Standards 2035 initiatives, it might spend approximately USD 1.4 trillion on a digital infrastructure public spending program. China's New Infrastructure initiative presents exciting opportunities for global companies. Thus, the adoption of ultrasonic sensors in different sectors, such as automotive and industrial, is expected to grow, boosting the market’s growth in the region. ​​
• Players in the region are focusing on product innovation. For instance, a Xiamen, Fujian Province, China-based company, Ursalink, developed an IoT level measurement solution working with its MB7380 (5m) and MB7383 (10m) ultrasonic sensors. Ursalink offers ultrasonic level sensors.
• The presence of multiple automobile manufacturers and the electronic product manufacturing industry makes Japan a significant region for the market studied. The increasing focus of governments on deploying autonomous vehicles is also expected to create scope for the market. The Japanese government announced plans to test an autonomous car system on public roads in 2018 to launch a self-driving car service. The government had planned to commercialize this system as early as 2022.​
• The 'Make in India' program places India on the world map as a manufacturing hub and gives global recognition to the Indian economy. Moreover, India's government aims for a USD 5 trillion economy by 2025, of which manufacturing may be worth USD 1 trillion. The convergence of flagship programs, such as Make in India with Skill India and Digital India, may be key to achieving this goal, thereby driving the country's market.​
• The other countries considered in the Asia-Pacific region are South Korea, Indonesia, and Taiwan. The significant presence in the semiconductor industry and South Korea's efforts to increase the manufacturing of semiconductors, electronics, and components are projected to contribute to the market share of ultrasonic sensors in the country.

Competitive Landscape

The ultrasonic sensors market is highly competitive, as these sensors constitute only a fraction of the market share among the other variants. The players in the market are engaging in research to achieve a competitive edge by offering innovative products. Some of the key players in the market are Siemens AG, Pepperl+Fuchs, Honeywell International Inc., Baumer Ltd, Rockwell Automation, and Murata Manufacturing Co. Ltd.

• November 2021 - Toposens has partnered up with Infineon Technologies AG to realize 3D obstacle detection and collision avoidance in autonomous systems using Toposens' proprietary 3D ultrasound technology. The Munich-based sensor manufacturer offers 3D ultrasonic sensors ECHO ONE DK that leverage sound, machine vision, and advanced algorithms to enable robust, cost-effective, and accurate 3D vision for applications such as robotics, autonomous driving, and consumer electronics.
• January 2021 - Qualcomm launched a second-generation 3D Sonic Sensor with several improvements over gen-1. The 3D Sonic Sensor is an ultrasonic fingerprint reader that uses sound waves to scan a fingerprint and is mostly used as an in-display security solution. This sensor is also compatible with flexible panels used in foldable devices.

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