The ultrasonic sensors are used for liquid level measurement, object detection, distance measurement, anti collision detection and pallet detection. The need for demand of automation and focus on improvement of production efficiency has increased across industries such as automotive, chemical, construction, and food and beverages among others. Moreover, increasing demand for advanced features such as automatic steering controls, park assist system, blind spot detection and adaptive cruise control is also expected to have a positive impact on the demand for ultrasonic sensors globally.

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The Global Ultrasonic Sensors Market was valued at USD 380.8 million in 2014 and is expected to reach USD 1,670.7 million by 2023, growing at a CAGR of 17.1% from 2015 to 2023. The usage of ultrasonic sensors improves operational efficiency and also improves safety standards. This is one of the major factors fueling the demand for ultrasonic sensors globally.

There are various types of Ultrasonic Sensors:

> Ultrasonic retro-reflective sensors
> Ultrasonic through beam sensors
> Ultrasonic proximity sensors
> Ultrasonic 2 point proximity switches

Demand for Ultrasonic through Beam to be the Highest in Coming Years

In 2014, the demand for ultrasonic proximity sensors was the highest. Rise in the demand for technologically advanced automobiles is anticipated to drive the overall market. However, in the coming years, the ultrasonic through beam sensors segment is projected to be the fastest growing segment in the market.

In order to get a better understanding of the ultrasonic sensors market, a key trends analysis has been included for all the segments. Furthermore, the market share of the major players in the optical position sensors in semiconductor modules and chips market has also been discussed in terms of market share revenue held globally. In addition, the key players in the market have also been profiled in terms of their product segments, financial overview, recent developments and business strategies adopted by them. The leading players in the market include Pepperl+Fuchs GmbH, Siemens AG, Murata Manufacturing Co., Ltd., Rockwell Automation Inc., Microsonic GmbH, Baumer Group, MaxBotix Inc., OMRON Corporation, Honeywell International Inc., Branson Ultrasonics Corporation, Gems Sensors & Controls, Senix Corporation and Crest Ultrasonics Corp. among others.

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