Ultrasonic Sensors Market Analysis

Ultrasonic sensors market size from the industrial segment is expected to record over 10% CAGR between 2023-2032. The growing focus on ultrasonic sensors for industrial use cases can be attributed to the emergence of smart factories, that are equipped with robots and advanced technologies to assist manufacturing operations. Ultrasonic sensors play a key role in the production of multiple products right from cars to chemicals for accurate measurement and detection of product movement.

Several governments are encouraging the adoption of smart solutions to adapt to the ongoing transition to Industry 4.0 and digitization. For instance, in May 2022, NASSCOM, the Government of Gujarat, COE-IoT & AI, Meity, and DST jointly launched the world’s first Smart Manufacturing Competency Centre (SMCC) in India to boost the adoption of smart manufacturing technologies.
 

In terms of revenue, the ultrasonic sensors market share from obstacle detection is estimated to reach USD 2 billion by the end of 2032. Obstacle detection systems play a crucial role in modern vehicles as they provide comprehensive insights into the surrounding roadblocks and dangers that could potentially damage the vehicle and the driver/passenger. The rising demand for ADAS in vehicles is expected to spur the adoption of ultrasonic sensors. Additionally, the extensive research focusing on the potential of ultrasonic sensors to facilitate navigation and obstacle detection for the visually impaired will enhance the industry growth.
 

Ultrasonic sensors market valuation from open-type ultrasonic sensors is poised to surpass USD 9 billion by 2032. The growing demand for open-type ultrasonic sensors can be accredited to their surging applications across homes. For instance, these devices find broad utility in motion controllers, automatic doors, vacuum cleaners, range finders, and burglar alarms. With growing disposable incomes and the shifting inclination toward luxury lifestyles, consumers are heavily investing on the modernization of home infrastructures. The increasing spending on home automation and smart technologies will also fuel the need for components such as open-type ultrasonic sensors.
 

Asia Pacific ultrasonic sensor market size is estimated to record USD 7 billion by 2032. The ongoing technological advancements and the increasing footprint of leading tech giants, such as Xiaomi and Xinhua in the region are expected to consolidate industry growth. The rapidly escalating manufacturing and industrial output across countries such as India and China will foster the substantial demand for ultrasonic sensors across APAC.