Ultrasonic sensors market to grow 147% in next 5 years: report
NewsSeptember 13, 2022
DUBLIN, Ireland. A new report predicts that the global ultrasonic sensors market will surge from $5.76 billion in 2022 to $14.24 billion by 2027 for a compound annual growth rate (CAGR) of 19.84%.
The report, from Research and Markets, lists the increasing adoption of ultrasonic sensors in robotics and an increasing demand for collision detection in driverless cars as major drivers in the growth. Technical issues and the limitation of ultrasonic sensors are listed as the main restraints on the market.
Ultrasonic sensors are devices that can measure the distance of a target object using sound waves. The device measures the time between the emission of the wave and reception, and then uses the data to estimate distance.
Some of the major players from the defense industry in this market include Honeywell International and Rockwell Automation.
