Ultrasonic sensor market in North America is expected to grow from US$ 1.16 Bn in 2018 to US$ 2.20 Bn by the year 2027. This represents a CAGR of 7.3% from the year 2019 to 2027.
The ultrasonic sensors measure distance through ultrasonic waves. The sensor head releases an ultrasonic wave and accepts the wave reflected from a target. These sensors measure the distance to the target by calculating the time between emission and reception. The ultrasonic sensors are broadly used in diverse industries, including food & beverage, chemical, medical, automotive, agriculture, process, wastewater management, and more. These sensors have their application in a conveyor belt, smart parking, vehicle detection for car washes, pallet detection with forklifts, diagnosis, liquid level sensing, trash level monitoring, production lines, and others. Some of the prominent benefits of ultrasonic processing technology include process intensification, low power consumption, low cost of processing, operator-friendliness, simple adaptability to specific applications, and environmental safeness that makes ultrasonication a technique for the reliable product quality with better outcomes. Owing to an increase in integrating automation into manufacturing and other industries, the use of industry 4.0 is contributing heavily towards the growth of the ultrasonic sensor market.
Moreover, the use of sensors in autonomous vehicles and other vehicles with ADAS features to measure the range during parking is giving other opportunities to the automotive industry for growth. On the contrary, the availability of substitute products such as an optical sensor for measuring distance might act as an obstacle in the growth of the ultrasonic sensor market.
Currently, the US is dominating the ultrasonic sensor market in terms of installation, which in turn boosts the demand for the ultrasonic sensor market in the region. The country has a strong manufacturing sector, which accounts for ~11.15% of the GDP. Some of the significant US-based manufacturers include Exxon Mobil Corp, Apple, Inc., General Motors Co., and Chevron Corp, among others. The companies in the country are focusing on improving performance. They are moving towards new technologies such as AI, IIoT, machine-to-machine digital connectivity, and advanced automation, among others. Since the demand for ultrasonic sensors is high in the automotive and manufacturing sector, the presence of manufacturing and automotive giants in the country is expected to support the growth of the ultrasonic sensor market. The figure given below highlights the revenue share of Mexico in the North America ultrasonic sensor market in the forecast period:
NORTH AMERICA Ultrasonic Sensor MARKET - SEGMENTATION
North America Ultrasonic Sensor Market – By Technology
North America Ultrasonic Sensor Market – By End-user Vertical
North America Ultrasonic Sensor Market – By Country
North America Ultrasonic Sensor Market -Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 1.16 Billion |
| Market Size by 2027 | US$ 2.20 Billion |
| CAGR (2019 - 2027) | 7.3% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Ultrasonic Sensor Market is valued at US$ 1.16 Billion in 2018, it is projected to reach US$ 2.20 Billion by 2027.
As per our report North America Ultrasonic Sensor Market, the market size is valued at US$ 1.16 Billion in 2018, projecting it to reach US$ 2.20 Billion by 2027. This translates to a CAGR of approximately 7.3% during the forecast period.
The North America Ultrasonic Sensor Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Ultrasonic Sensor Market report:
The North America Ultrasonic Sensor Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
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