Ultrasonic Sensors Market Size, Share & Trends Analysis Report By Technology (Bulk Piezoelectric Transducer, Micromachined Ultrasound Transducers (MUT)), By End-user Vertical (Automotive, Consumer, Industrial, Medical, Other End-user Verticals) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global ultrasonic sensors market size was valued at USD 4.8 billion in 2021 and is estimated to reach an expected value of USD 11.790 billion by 2030, registering a CAGR of 10.5% during the period of (2022-2030).

Ultrasonic sensors are widely used for non-contact detection of solid and liquid state objects. These sensors operate at frequencies above 20 kHz, above the sonic range audible to humans. The principle behind the working of these sensors is based on echolocation; wherein ultrasonic waves are transmitted to the target object. The primary advantage of these sensors is their measurement speed; they can detect target objects relatively quickly (for sound to travel 1 m, it takes around 6 m). 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 others by relying on economies of scale advantages. The growth of ultrasonic sensors has been more inclined toward medical, industrial, and automotive applications, majorly in biomedical analysis, due to their non-intrusive nature. Ultrasonic sensors are also widely used in diagnosing and monitoring health ailments in the medical industry, thereby offering a safe alternative to the radiography method for medical imaging.

Market Dynamics

Global Ultrasonic Sensors Market Drivers

Applications over Diverse Industrial Areas

The ultrasonic sensors are used in several applications spread across diverse industrial areas. In the medical field, they are used for ultrasonography; in the automotive field, they are used in gesture recognition and parking assistant systems; in the consumer segment, they are used in fingerprint sensors, smart homes, and smart robots and coming to the industrial applications they are used in nondestructive testing and automation for the measurement of flow, thickness, and volume. Such vast application areas in diverse industries are expected to drive the usage of ultrasonic sensors.

Ultrasound Technology Coupled with IoT

When a powerful and versatile technology such as ultrasound is combined with the internet of things, new solutions arise that will take condition monitoring of assets to a new level. The development of ultrasonic sensors and their integration with data collection points are expected to be disrupters when it comes to continuous and remote monitoring of industrial assets.

Ultrasonic handheld devices still play an essential role. Still, when it is coupled with the technology the capabilities that the internet brings, vendors can create robust monitoring solutions by using ultrasonic sensors connected to network-enabled devices. The sensors collect data from assets in the form of dB readings and send them to central devices which process the data. This brings a huge potential for improvements in maintenance and reliability programs. With technology, customers can set up alarms and notifications and trend the condition of assets.

There are already accessible to implement solutions on the market that couple ultrasound technology with sensors and network-connected devices, allowing for truly continuous and remote monitoring. The On-Trak is a remote IIoT-bearing monitoring system for bearings and other mechanical assets. It’s composed of 16 sensors and a central processor that can be connected to the network via Wi-Fi, ethernet, or cellular data. Data from the sensors can be easily viewed on any laptop, tablet, or phone. Such changing dynamics in the ultrasonic sensors market are expected to see an upward trend during the forecast period providing growth to the market.

Global Ultrasonic Sensors Market Restraint

Operational Issues

With a minimal tolerance of 3 mm, most ultrasonic sensors can accurately measure distances up to 400 cm. However, the computed distance may be off if a target object is positioned so that the ultrasonic signal is deflected away rather than reflected by the ultrasonic sensor. Sometimes the target object is too small to be detected by the reflected ultrasonic signal, making it impossible to determine the distance accurately.

Additionally, materials like carpet and fabric can absorb acoustic impulses. The distance cannot be calculated if the signal is absorbed in the target object's end because it cannot reflect on the sensor. Also, the intense sensitivity of ultrasonic sensors makes them efficient, but that sensitivity can also cause problems.  Because ultrasonic sensors operate using sound, they are entirely nonfunctional in a vacuum, as there is no air for the sound to travel through. They are not utilized in places with radical convection or extreme local temperature changes. For instance, if a hot air curtain causes turbulence within the sensing area, the ultrasonic sensors may malfunction. The jetting sound of air nozzles includes a wide frequency range noise, which will affect the operation of the Ultrasonic Sensors. All such factors impede market growth.

Global Ultrasonic Sensors Market Opportunities

Increasing Research Projects

Faster charging and more extended performance stability for electric vehicles, smartphones, and other battery-powered products. Research projects are constantly increasing with an aim to increase the efficiency of these sensors. For instance, in November 2020, a European research project named “Spartacus” was launched. “Spartacus,” the acronym, stands for "Spatially resolved acoustic, mechanical and ultrasonic sensing for smart batteries."

By utilizing advanced sensors and cell management systems, “Spartacus” aims to reduce charging times by up to 20% without compromising battery reliability and service life. The European Union is funding “Spartacus” as part of the Battery 2030+ research initiative. With the Spartacus sensor technology, errors and negative influences on battery life and performance should be detected early. Based on the sensor data, the cell and battery management system can control the charging and discharging processes accordingly to counteract premature battery aging and eliminate negative influences as far as possible. Such developments drive segment growth.

Regional Analysis

By region, the global ultrasonic sensors market is segmented into North America, Europe, Asia Pacific, Rest of the World

Asia Pacific accounted for the largest market share and is estimated to grow at a CAGR of 10.7% during the forecast period. 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. The CCP indicated during the 2020 National People's Congress that in addition to stepping up its Made in China 2025 and China Standards 2035 projects, it might spend about USD 1.4 trillion on a public spending program for digital infrastructure. China's New Infrastructure initiative presents exciting opportunities for global companies. Due to this, the number of ultrasonic sensor adopters in different sectors, such as automotive, industrial, etc., is expected to grow, thus boosting the market's growth in the region.

Europe is the second largest market. It is estimated to reach an expected value of USD 2160 million by 2030, registering a CAGR of 9.1%. The region is one of the significant markets for NDT equipment, especially for industries like oil and gas, aerospace, medical and automotive, among others. Therefore, many local ultrasonic sensor manufacturers are also targeting these applications. In addition, the presence of some of the largest NDT Equipment manufacturers, like NDT Equipment Supplies Limited and NDT Consultants Ltd, are also boosting the growth of the ultrasonic sensor market in the region. For instance, NDT Equipment Supplies Limited is the largest European manufacturer of ultrasonic standards, special blocks, and test pieces. Moreover, the region is witnessing increased investment, owing to the enormous potential, especially in the aerospace sector, which is constantly growing. For instance, In June 2019, London-based Elements Material technology invested USD 3 million in CR equipment to expand aerospace NDT testing capabilities. Many UK-based universities and government organizations are also increasingly investing in the development of ultrasonic sensor technologies, which is creating a start-up ecosystem in the United Kingdom and bringing innovation to the global market.

North America is the third largest region. The United States is among the most technologically advanced countries and holds a significant share of the global ultrasonic sensor market. Moreover, the government is home to numerous major MNCs that make substantial investments in process automation and smart production techniques, which is a significant factor driving the ultrasonic sensors market's growth. Since the health expenditure per capita in the United States is higher than the developed counterparts of other nations, the rising demand for better surgical procedures by health-conscious citizens is driving the market for ultrasonic sensors across the region. Furthermore, the recent COVID-19 outbreak and government support have increased the production of ultrasound systems relevant to assessing and managing COVID-19-related lung and cardiac complications. In addition, ultrasonic sensors are used in the oil and gas industry in the region to continuously monitor the pipe thickness for early detection of corrosion and erosion. The United States is one of the most significant oil-producing nations in the world. The country currently generates about 10 million barrels of oil a day, nearly half of shale production. Also, Congress recently lifted the 40-year-old oil export band, further boosting the oil industry in the United States and driving the market for ultrasonic sensors.

Segmental Analysis

The global ultrasonic sensors market is segmented by technology, end-user vertical, and region.

By technology, the global market is segmented into Bulk Piezoelectric Transducer and Micromachined Ultrasound Transducers (MUT). The Bulk Piezoelectric Transducer accounted for the largest market share and is estimated to grow at a CAGR of 8.7% during the forecast period. The sensitivity of the piezoelectric transducer is very high. As a result of its excellent frequency of response, it functions as a sensor and is utilized in accelerometers. Numerous applications that involve the creation and detection of sound and electronic frequency generation use the piezoelectric effect. It serves as a cigarette lighter's ignition source and is employed in measuring force, pressure, displacement, microphone, and sonar. Piezoelectric transducers can be used in a wide range of applications, such as electric lighters in kitchens, car seat belts, medical diagnosis, inkjet printers, automated doors at establishments like restaurants and airports, and microphones. Frequencies produced by the piezoelectric ultrasonic transducer are much higher than those audible to human ears. When exposed to any voltage, it rapidly expands and contracts. Usually, a vacuum cleaner uses it. Due to their benefits, these are widely used in various industries. The ultrasonic piezoelectric transducers are easy to handle and use due to their small dimensions and high-frequency response, allowing quick parameter changes. They also do not require any external force. These and other elements promote segment expansion. All such factors drive segment growth.

By end-user vertical, the global market is segmented into automotive, consumer, industrial, medical, and other end-user verticals. The industrial segment accounted for the largest market share and is estimated to grow at a CAGR of 7.8% during the forecast period. An emerging trend in the manufacturing industry is the usage of robots which help move materials around on the factory floor. Robots pick up and place objects as needed in regular assembly operations within an industrial setup. In such a regard, ultrasonic sensors are well-suited to avoid collisions between robots and humans, which is a significant concern. These sensors add intelligence to robots to complete their tasks without accidents. These sensors provide excellent opportunities for contactless position and distance measurement and can detect sound-reflecting targets regardless of surface, transparency, or color in an industrial setup. They are extensively used in the agriculture and packaging machine markets as they are ideally suited for harsh conditions. Vendors operating in various end-user industries, such as manufacturing, logistics, and warehouses are increasingly deploying ultrasonic sensors for sensing, navigation, and safety automation technologies. The high adoption rate of robotic technologies in these industries further provides exciting opportunities for the players operating in the market.

Impact of covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

Recent Developments

• October 2022 - Cognito, a leader in industrial data software, and Rockwell Automation, Inc. (NYSE: ROK), the largest company in the world devoted to industrial automation and digital transformation, today announced a strategic partnership to unlock the value of manufacturing data further and speed up technological change for the sector. The partnership combines Cognite's leading Industrial DataOps platform, Cognite Data Fusion®, with Rockwell's FactoryTalk® software, offering next-generation edge connectivity to plant assets, operations management applications, and industry-tailored analytics to create an industrial data hub ready for enterprise-wide scaling.
• October 2022 - The launch of My Equipment Digital enables new functionality with digital collection and updating of industrial automation asset data through network-based devices. The digital collection method includes firmware information and a one-time vulnerability assessment.