Published Date : Jul 01, 2016
Ensuring improved production and operational efficiency is considered indispensable for manufacturing utilities looking to gain sustainability. Ultrasonic sensors offer advanced features and automation. Hence their demand is expected to rise significantly across facilities aiming to emerge dominant in the market.
According to a report published by Transparency Market Research, the global ultrasonic sensors market is expected to reach US$1.67 bn by 2023. The market was valued at US$380.8 mn in 2014. If the figures mentioned in the report hold true, the global ultrasonic sensor market will report a CAGR of 17.1% from 2015 and 2023.
Ultrasonic sensors are primarily used to measure liquid level. Other uses of these sensors include distance management, pallet detection, object detection, and anti-collision detection. Some of the most commonly used ultrasonic sensors in manufacturing utilities are ultrasonic 2 point proximity switches, reflective sensors, and ultrasonic through beam sensors.
Increasing Use across Diverse Engineering Domain to Boost Global Ultrasonic Sensors Market
In the last couple of years ultrasonic sensing technologies have become more advanced and are being used diverse domains in engineering and basic science. Additionally, several conventional and sophisticated ultrasonic software, instruments, and devices have been commercialized and are used across various industrial and medical applications. The incredible capability of ultrasonic sensors to probe inside objects without negatively affecting it in any way is a primary factor boosting the global ultrasonic sensors market.
In medical, physics, and engineering, ultrasonic sensors are predominantly used in nondestructive evaluations such as structural health monitoring, inspections of industrial structures, and the quantitative characterization of materials. These sensors are also used in designing and developing more effective technologies that could be used in nondestructive evaluations.
Market to Gain from Demand for Smart Parking Assistance and Better Vehicle Safety
The global ultrasonic sensors market has been gaining significantly from the demand from the automotive industry as well. Rapid urbanization witnessed worldwide has augmented the demand for intelligent parking assistance and enhanced vehicle safety. Government regulations across many of the countries are now focused on the implementation of smart traffic management. This subsequently leads to the increased application of ultrasonic sensors in the automotive industry.