Market Challenges And Opportunities

Global Ultrasonic Sensors Market Drivers:

Increasing applications across several industries to boost the market pace

The use of ultrasonic sensors is widespread across various industrial areas. These sensors are used in medical sector for ultrasonography; in the automotive field, they are utilized in parking assistance systems and gesture recognition; they are utilized in smart homes, fingerprint sensors, and smart robots in the consumer segment applications. Furthermore, in industrial applications, ultrasonic sensors are used in non-destructive testing and automation of flow, volume, and thickness measurements. Such widespread applications of these sensors are expected to augment growth of the global ultrasonic sensors market during the forecast period.

Growing product developments to propel growth of the market

Several vendors in the market are increasingly focusing on research and development of novel products of ultrasonic sensors. For instance, in April 2021, The Fraunhofer Institute for Photonic Microsystems IPMS announced the development of strong, versatile, and reliable ultrasonic sensors. As these sensors are small in size, the micromachined UTs offer highly compact, energy saving, eco-friendly and multifunctional sensor system. Due to such increasing initiatives by many organizations and companies in the market, the demand for ultrasonic sensors is likely to grow. This in turn is anticipated to accelerate growth of the global ultrasonic sensors market during the forecast period.

Global Ultrasonic Sensors Market Opportunities:

Rise in a number of research projects to increase efficiency of sensors is likely to create growth opportunities in the global ultrasonic sensors market during the forecast period. For instance, in November 2020, “Spartacus”, a European research project was launched. The name of this project stands for “spatially resolved acoustic, mechanical, and ultrasonic sensing for smart batteries. The applications of these sensors are increasing in various battery powered products. Thus, several research projects are focusing on increasing efficiently of ultrasonic sensors to offer longer stability of performance, faster charging, for various battery-powered products including EVs and smartphones. Thus, this factor will bring in multiple opportunities in the market.

Increasing development of ultrasonic sensors along with their integration with data collection points is anticipated to create business opportunities in the global ultrasonic sensors market during the forecast period. Ultrasonic handheld devices have become important technology; however, when coupled with capabilities of internet, the technology can offer robust monitoring solutions with the use of ultrasonic sensors connected to devices that are network-enabled. The sensors can gather data from assets and transfer it to central devices for data processing. With this, maintenance and reliability programs can be improved significantly. Thus, this factor is likely to create lucrative opportunities in the market

Global Ultrasonic Sensors Market Restraints:

Functional flaws of ultrasonic sensors to hinder the market pace

Many of the ultrasonic sensors are capable of efficiently measuring distances up to 400cm with a slight tolerance of 3mm. However, when a target object is placed in a way that ultrasonic signals deflect way instead of reflecting back to the sensors, the distance calculated can be inaccurate. Moreover, objects such as carpet and fabric absorb acoustic signals, due to which it fails to reflect back to the ultrasonic sensors, and this in turn disrupts measurement of the distance. Thus, such functional flaws of these sensors are expected to hamper growth of the global ultrasonic sensors market during the forecast period. However, key players in the market are involved in the development more efficient and accurate ultrasonic sensors technology, which will support the market growth in the coming years

Availability of radar sensors to limit the adoption of ultrasonic sensors

Ultrasonic sensors continue to face intense competition from vendors that provide radar sensors. This in turn is likely to impact adoption of ultrasonic sensors, which is expected to hinder growth of the global ultrasonic sensors market over the forecast period. For instance, in March 2020, VEGA introduced a novel Radar level sensors for replacing Ultrasonics in the water industry. This novel radar level device of VEGA defies buildup for delivering accurate measurements in the industry of water and wastewater. Such innovations in turn are likely to obstruct the market growth in the forecast future.