In a recent published report, Kenneth Research has updated the market report for Ultrasonic Sensor Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
According to the statistics by the Organization for Economic Co-operation and Development (OECD), the United States recorded to be the largest exporters of international trade in services amongst all the OECD nations with a value worth USD 827 billion in the year 2018.
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Global Ultrasonic Sensor Market is estimated to reach $1,493 Million by 2024; growing at a CAGR of 17.7% between 2016 and 2024. An ultrasonic sensor is a device that uses sound waves with frequency higher than the human audible range to measure the distance to an object. Ultrasonic sensors follow three main physical principles such as the Doppler Effect, time of flight and the attenuation of sound waves. It uses a single ultrasonic element for both emission and reception. They have the ability to detect any transparent objects as well as very complex shaped objects. Ultrasonic sensors are widely used in various medical inspections owing to its ability of real time visualization. Moreover, due to their reliability and outstanding versatility, they are also used for various industrial applications where they are used to solve the most complex task of object detection with millimeter precision.
Need for advanced features in vehicles coupled with increasing applications of ultrasonic sensor especially in healthcare and pulp & paper are fueling the growth of the market. Moreover, increasing popularity of wearable medical devices and increasing need for automation across various industries is also boosting the growth of the market. However, ability to absorb sound by low-density materials and presence of other technologies may hinder the growth of the market. Furthermore, entry of new players to focus on emerging economies and increasing R&D for improve product offering to various end-users would provide growth opportunities in the coming years.
The global ultrasonic sensor market is segmented based on the type, application, industry and geography. By type, it is segmented into ultrasonic through beam sensors, ultrasonic proximity sensors, ultrasonic reflective sensors and ultrasonic 2 point proximity switches. Application can be segmented into distance measurement, anti collision detection, liquid level measurement, object detection, pallet detection and others. Furthermore, industry is segmented into food & beverages, automotive, healthcare, aerospace & defense, oil & gas, chemicals, agriculture, pulp & paper, material handling, construction and others.
By geography, the ultrasonic sensor market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are covered under North America wherein Europe covers U.K., Germany, France, Italy and others. Asia-Pacific covers China, South Korea, Japan, and others. Rest of the World (RoW) covers South America, Middle East and Africa.
Key market players include Honeywell International Inc., Branson Ultrasonic Corp., Toshiba America Medical Systems, Inc., OMRON Corporation, Murata Manufacturing Co., Ltd., APC International Ltd., Siemens Ag, Rockwell Automation, Inc., GE Healthcare, Ltd., and Pepperl+Fuchs GmbH.
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The key takeaways from the report
The report will provide detailed analysis of Ultrasonic Sensor Market with respect to major segments such type, application and industry
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Ultrasonic Sensor market will be included in the report.
Profile of the key players of the Ultrasonic Sensor market, will be provided, which include key financials, product & services, new developments, and business strategies.
Scope of Ultrasonic Sensor Market
Type Segments
Ultrasonic Through Beam Sensors
Ultrasonic Proximity Sensors
Ultrasonic Reflective Sensors
Ultrasonic 2 Point Proximity Switches
Application Segments
Distance Measurement
Anti Collision Detection
Liquid Level Measurement
Object Detection
Pallet Detection
Others
Industry Type Segments
Food & Beverages
Automotive
Healthcare
Aerospace & Defense
Oil & Gas
Chemicals
Agriculture
Pulp & Paper
Material Handling
Construction
Others
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Geography Segments
North America
US
Canada
Mexico
Europe
U.K.
Germany
France
Italy
Others
Asia-Pacific
China
South Korea
Japan
Others
RoW
South America
Middle East
Africa
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