Ultrasonic Sensors Market Size, By Type (Retro-reflective Sensor, Through-beam Sensor), By Structure Type (Open-type Ultrasonic Sensor, Closed-type Ultrasonic Sensor), By Application (Level Measurement, Obstacle Detection, Distance Measurement), Industry

Ultrasonic Sensors Market Size, By Type (Retro-reflective Sensor, Through-beam Sensor), By Structure Type (Open-type Ultrasonic Sensor, Closed-type Ultrasonic Sensor), By Application (Level Measurement, Obstacle Detection, Distance Measurement), Industry Verticals (Automotive, Consumer Electronics, Industrial, Healthcare, Aerospace & Defense), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The ultrasonic sensor market is expected to see robust expansion through 2028 on account of prevalent product adoption in varied industry verticals across the globe.

Ultrasonic sensors are instruments that are used to measure the distance to an object with the help of ultrasonic sound waves. These sensors use a transducer to transmit ultrasonic pulses that relay back information about the proximity of an object.

Recently, industry players have been focusing on product development and innovation to expand their offerings to accommodate consumer requirements, which has been favorable for the growth of the ultrasonic sensor market. For instance, in September 2021, Pepperl+Fuchs, a German automation expert, broadened its factory automation portfolio with the introduction of its USi-safety ultrasonic sensor. The novel sensor is suitable for application in harsh environments as well as outdoor uses and can be installed in a small space.

In another instance, in November 2021, Toposens, a German electronics manufacturer, inked a partnership agreement with Infineon Technologies, a semiconductor manufacturing specialist, to integrate 3D obstacle detection as well as collision avoidance in autonomous systems by leveraging Toposens’ proprietary 3D ultrasound technology. The novel 3D ultrasonic sensor, which has been based on the XENSIV MEMS microphone of Infineon, supports safe collision avoidance with accurate 3D obstacle detection.

The ultrasonic sensor market has been bifurcated based on type, structure type, application, industry vertical, and region. On the basis of application, the market has been segmented into distance measurement, obstacle detection, level measurement, and others.

In 2021, the others sub-segment held a market share of around 10% and is slated to register a sizable CAGR between 2022 and 2028. Surging adoption of pallet detection and collision avoidance systems in the logistics sector is likely to drive the growth of the segment in the forthcoming years.

In terms of industry vertical, the ultrasonic sensor market has been divided into automotive, industrial, consumer electronics, aerospace & defense, healthcare, and others. The healthcare sub-segment is speculated to record significant growth at more than 12% CAGR through the forecast timeline to reach a sizable valuation by the end of 2028. Increased utilization of ultrasonic sensor in various medical devices, such as ultrasonography machinery, point-of-care healthcare equipment, and portable medical devices, is foreseen to propel product penetration in the healthcare vertical in the upcoming years.

In the regional landscape, the Latin America ultrasonic sensor market accounted for approximately 5% of the overall industry revenue in 2021 and is estimated to grow at a steady pace over 2022-2028. Prominent initiatives taken by the government to promote safety in public transport and public places across LATAM are anticipated to promote regional market growth in the future.