May 17, 2018   SOURCE: BusinessWire

Global Ultrasonic Sensors Market Analysis, Growth, Trends & Forecast 2018-2023 - ResearchAndMarkets.com

The "Global Ultrasonic Sensors Market - Segmented by Type, Technology, Industry Vertical, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The global ultrasonic sensors market was valued at USD 2.94 billion in 2017, and is expected to reach a value of USD 5.5 billion by 2023, at a CAGR of 10.96%, during the forecast period 2018-2023.

Ultrasonic sensors have been at the forefront of technological advancements in the medical applications industry. These applications have been offering cutting-edge innovative solutions for enhancing the quality of life and ensuring greater diagnostic capabilities in this sector. The use of ultrasonic sensors in the medical industry can be studied under two distinct labels, namely detection and measurement.

Ultrasonic devices offer several applications in the automotive sensors, like parking assistance, safety alarms, collision avoidance, object detection and automatic braking system. They play an important role in shaping up the future of the next generation driver assistance and self-driving systems. On-board sensing systems are being offered in advanced cars for premium process. These systems rely on ultrasonic sensors for measuring relative distances of objects from the car.

North America has been a traditional leader in the ultrasonic sensors market due to a number of factors. Market penetration is quite high in this sector; the presence of several automotive and manufacturing giants is a very crucial growth factor. Among the countries of North America, US holds most of the market share, while Canadian market is estimated to grow faster than the US.

Key Topics Covered:

1. Introduction

2. Research Approach and Methodology

3. Market Insights

4. Technology Snapshot

5. Market Dynamics

6. Technology Snapshot

7. Global Ultrasonic Sensors Market Segmentation

8. Vendor Market Share

9. Competitive Intelligence - Company Profiles

10. Investment Analysis

11. Future Outlook of the Ultrasonic Sensors Market

Companies Mentioned

  • Siemens AG
  • Pepperl+Fuchs
  • Honeywell International Inc.
  • Cambridge Ultrasonics
  • Hielscher Inc.
  • Baumer Ltd.
  • Crest Ultrasonics Corp.
  • Branson Ultrasonic Corp.
  • Rockwell Automation
  • Murata Manufacturing Co.,Ltd.
  • Balluff GmbH
  • Senix Corporation

For more information about this report visit https://www.researchandmarkets.com/research/q3d3fh/global_ultrasonic?w=4