Automotive Ultrasonic Sensors Market Analysis

Market Insights

The automotive ultrasonic sensors market is likely to witness an impressive CAGR of 6.2% during the forecast period.

An ultrasonic sensor is a speaker or microphone that generates or absorbs ultrasound. There's also a system in place to regulate emissions and reception. This type of sensor can be found in parking sensors. Ultrasound sensors were first employed to identify parking barriers in autos, but they are now being developed into an automated parking system. Sonar is used by parking sensors.

The automotive ultrasonic sensors market is driven by strict government regulations regarding emission standards and safety. Additionally, rising vehicle production and increasing use of alternative fuel vehicles are propelling the growth of the market. The growing electrification of automobiles, as well as the extensive research and development (R&D) activities in the autonomous vehicle field, is expected to drive the market growth during the forecast period.

Segment Analysis

Application Insights

The market is segmented as park assist, self-parking, and blind spot detection. The self-parking segment is expected to dominate the market during the forecast period due to increased spending on completely autonomous vehicles for advanced driver-assistance systems (ADAS) and self-parking. These sensors enable the vehicle to have more automatic control over steering, acceleration, and braking.

Regional Trends

Asia-Pacific is expected to remain the largest market for automotive ultrasonic sensors during the forecast period. The region is also estimated to grow at the fastest rate over the forecast period. China is expected to have the highest demand for advanced sensors and advanced driver-assistance systems (ADAS) in the coming years. This surge in demand is primarily due to the country's rapid technological advancements in autonomous vehicles. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

Some of the key players in the automotive ultrasonic sensors market are-

• Aptiv PLC
• Autoliv Inc.
• Elmos Semiconductor AG
• Honeywell International Inc.
• Texas Instruments Inc.
• First Sensor AG
• Baumer Holding AG
• Magna International Inc.
• TE Connectivity Ltd.
• Valeo SA
• TDK Corporation.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Target Audience

Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The automotive ultrasonic sensors market is segmented into the following categories-

By Type:

• Proximity Detection
• Range Measurement

By Vehicle Autonomy Type:

• Semi-autonomous vehicle
• Fully-Autonomous Vehicle

By Vehicle Type:

• Passenger Cars
• Commercial Vehicles

By Application Type:

• Park Assist
• Self-Parking
• Blind Spot Detection

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

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Company Profiling

• Detailed profiling of additional market players (up to three players)
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Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

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