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Global Ultrasonic Sensor Market to Post a Striking CAGR of 14% During the Period 2016-2020, According to TechnavioThe global ultrasonic sensor market expected to grow at a CAGR of over 14% during the forecast period, according to Technavio's latest report. In this report, Technavio covers the market outlook and growth prospects of the global ultrasonic sensor market for 2016-2020. To calculate the market size, the report considers revenue generated from the sales of ultrasonic sensors to end-users. According to Asif Gani, a lead analyst at Technavio for sensors, "The rising number of automated factories is an important factor driving growth in the ultrasonic sensor market. Manufacturers are automating their factory processes for better communication, precise coordination within factories, and improved flexibility in underlying processes. Other factors that drive the market include high use of ultrasonic sensors in automobiles for vehicle parking, the high sensing capability of ultrasonic sensors, and rising demand for smart ultrasonic sensors." Technavio's research study segments the global ultrasonic sensor market into the following regions:
Americas: largest market for ultrasonic sensor The US is the leading contributor to the global ultrasonic sensor market due to its highly automated industrial sector. Google (News - Alert) is carrying out tests on ultrasonic sensor-integrated driverless vehicles, which are likely to hit the road by mid-2017. There is also increasing demand in this region for anti-collision sensors in vehicles, as safety features in vehicles are a priority here. Manufacturing industries in the US have been shifting their manufacturing bases to other locations in order to reduce production costs. South America and countries such as Canada and Mexico have been increasing teir production capacities by setting up completely automated manufacturing plants. This is expected to fuel the demand for ultrasonic sensors in the Americas during the forecast period. Ask for a sample of this report: http://goo.gl/YYheOC Ultrasonic sensor market in Europe Europe is one of the largest markets for motion sensors due to the presence of highly automated industries in countries such as the UK and Germany. Europe is the primary market for adaptive cruise control, driver assistance systems, and automated driving. Luxury automobile brands such as BMW, Infiniti, Mercedes-Benz, and Audi equip their cars with surround-view cameras and ultrasonic sensors to improve parking functions. "Next on the agenda for automakers is 360-degree road surveillance using ultrasonic technology. This functionality will allow vehicles to change lanes on their own. All these factors will drive the European market for ultrasonic sensors during the forecast period," says Asif. Ultrasonic sensor market in APAC APAC is the fastest growing market for ultrasonic sensors. Nations such as China, India, Japan, and South Korea are home to major automobile manufacturers such as Toyota, Honda (News - Alert), and Nissan. Completely automated industrial processes in Japan and South Korea create the need for ultrasonic sensors. The demand for cars, food products, and consumer electronic products has increased due to the phenomenal rise in disposable income of the population in the developing countries of APAC. This will force industrial manufacturers to enhance their production across sectors. Technavio analysts anticipate long-term growth in demand for ultrasonic sensors in APAC, as many industries are shifting their production units to this region due to the availability of low-cost labor and raw materials. Some of the top vendors in the global ultrasonic sensor market highlighted in the report are: Browse Related Reports:
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio's reports allows you to download any three reports per month for the price of one. Contact [email protected] with your requirements and a link to our subscription platform. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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