Asia Pacific Ultrasonic Sensor Market to 2027 - Regional Analysis and Forecasts by Type (Proximity Sensors, Retro- Reflective Sensors, Through Beam Sensors, Others); Application (Liquid Level Detection, Production Line, Distance Measurement, Others); Industry Vertical (Automotive, Food & Beverages, Medical, Oil & Gas, Industrial, and Others)
Ultrasonic sensor market in Asia-Pacific is expected to grow from US$ 1.30 Bn in 2018 to US$ 3.03 Bn by the year 2027. This represents a CAGR of 9.9% from the year 2019 to 2027.
In the recent past, the adoption of automation was low in nonautomotive industries compared to that in the automotive industry. The penetration of industrial automation is now gaining pace in these industries. With the increasing functionality of equipment such as industrial robots, this adoption is further anticipated to accelerate in the years to come. Moreover, developed markets, including the US and Japan, are at the forefront in terms of adopting automation technologies; however, there are still numerous opportunities available for the industrial market to grow further even in the developed markets. The overall growth of the industrial sector is attributed to the growing necessity of modernization and transformation in these markets. The growing popularity of automation across different industry verticals is expected to drive the growth of the ultrasonic sensor market.
The Asia-Pacific manufacturing sector is rapidly expanding, with increasing investments from emerging regions in the adoption of new manufacturing plants. This sector is likely to expand further by embracing technological advancements to enhance plant productivity, maintain the edge with customers, and gain competitive advantage. Developments in this sector are driven by economic growth worldwide. Also, the sector is witnessing a technological renaissance, which is changing the outlook, systems, and processes of the modern factory. For instance, the Government of India started the “Make in India” initiative to boost the growth of various sectors such as automobiles, textiles, and other industries. It has a further plan of launching Make in India 2.0 as the next round of the first round of campaign started in 2014. The initiative focuses on transforming India into a global manufacturing hub. The growing popularity of the ultrasonic sensor in the manufacturing industry is expected to drive the growth of the ultrasonic sensor market.
The ultrasonic sensor market by type is segmented into the proximity sensors, retro-reflective sensors, through-beam sensors, others. The ultrasonic proximity sensor is a special type of sonic transducer, which is used for alternate transmission and reception of sound waves. These sensors are widely used in automation and manufacturing applications. The proximity sensors are also used in food and beverage processing and packaging applications for object detection and distance measurement. The ultrasonic sensors use sound frequencies ranging from 25 to 50 kHz. The ultrasonic sensor market is competitive in nature, with the companies offering flexible solutions to gain a strong share of the ultrasonic sensor market.
The overall Asia-Pacific ultrasonic sensor market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia-Pacific ultrasonic sensor market. It also provides an overview and forecast for the Asia-Pacific ultrasonic sensor market based on all the segmentation provided with respect to the Asia-Pacific region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia-Pacific ultrasonic sensor industry. Some of the players present in the ultrasonic sensor market are Balluff Inc., Baumer Group, Honeywell International, Inc., Keyence Corporation, Robert Bosh GmbH, Murata Manufacturing Co. Ltd, Omron Corporation, Pepperl+Fuchs AG, Rockwell Automation, Inc., Siemens AG, among others.
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