World Ultrasonic Sensor Market to See Impressive Increase to 2024, Predicts Variant Market Research in Its Report Available at MarketPublishers.com11 Aug 2017 • by Natalie Aster
LONDON – Today, ultrasonic sensors are extensively used in different medical inspections due to its ability of real time visualisation. They are also popular in different industrial applications owing to their reliability and outstanding versatility. Through 2024, the world’s market for ultrasonic sensors is projected to register impressive growth at a 17.7% CAGR, and by the end of the forecast period is expected to cross USD 1.49 billion.
Robust growth in this market is anticipated to be propelled by escalating popularity of wearable medical devices, rising number of end-use sectors of ultrasonic sensors, increasing need for advanced features in vehicles, and also elevating need for automation across different industries. Further growth opportunities in the ultrasonic sensors market will be provided by entry of novel players, rising focus on untapped geographies and uptake in R&D.
However, growth in the ultrasonic sensors market could be hampered by presence of other technologies and ability to absorb sound by low-density materials.
The new insightful report “Ultrasonic Sensor Market – Global Scenario, Market Size, Outlook, Trend and Forecast, 2015-2024” worked out by Variant Market Research presents a comprehensive overview of the world’s ultrasonic sensor market scenario, dynamics and growth trends. It features the major segmentation and estimates the market size and shares; discusses the key factors shaping the market as well as traces light on the emerging opportunities and main challenges. Besides, this study gives an analysis of the competitive landscape, uncovers data on the prominent market participants, investigates the market performance across different regions, comprises value chain analysis, and also grants access to detailed forecasts of the possible ultrasonic sensor market development through 2024.
For a full collection of the publisher’s research studies follow to the Variant Market Research page at MarketPublishers.com.