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Automotive Ultrasonic Technologies Market to Reach $2.70 Billion by 2028
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Automotive Ultrasonic Technologies Market to Reach $2.70 Billion by 2028


Automotive Ultrasonic Technologies

Automotive Ultrasonic Technologies Market

Depending on vehicle type, the electric vehicle segment is anticipated to exhibit significant growth in the near future.

Surge in concerns related to parking across the globe and increase in demand for internet of things (IoT) fuel the growth of the global automotive ultrasonic technologies marketโ€

โ€” Allied Market Research

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, April 12, 2024 /EINPresswire.com/ — Increase in concerns related to parking across the globe, rise in demand for internet of things (IoT), and surge in need for safety features in automotive propel the growth of the global Automotive Ultrasonic Technologies Market. However, high implementation cost & configuration complexities and low rate of penetration in developing countries impede the market growth. However, rise in investments in building driverless vehicles and technological advancements in advanced driver assistance systems (ADAS) pave the way for new opportunities in the coming years.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/A11857

The global automotive ultrasonic technologies market was valued at $1.41 billion in 2020, and is projected to reach $2.70 billion by 2028, registering a CAGR of 8.5% from 2021 to 2028.

Ultrasonic technology designed for automobiles are used to provide numerous safety features such as blind spot detection, parking assistance, lane departure warning system as well as several other features, which are offered by advanced driver assistance system (ADAS). With increased technological development related to the automotive industry, there has been an increased demand for vehicles, which are equipped with numerous safety features that support growth of the global automotive ultrasonic technologies market.

๐“๐จ๐ฉ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

The key players operating in the global automotive ultrasonic technologies market includes Aisin Corporation, Continental AG, Denso, Hyundai Mobis co. ltd., Magna International, Murata Manufacturing co. ltd., Robert Bosch GMBH, TDK corp., Elmos Semiconductor SE, and Valeo SA.

Based on type, the proximity detection segment contributed to the highest share in 2020, generating more than half of the total share, and is estimated to dominate during the forecast period. Moreover, this segment is also projected to cite the fastest CAGR of 8.9% from 2021 to 2028, due to the fact that ultrasonic sensors can detect both metallic and nonmetallic targets and has good stability too.

๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐‚๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/automotive-ultrasonic-technologies-market/purchase-options

The global automotive ultrasonic technologies market report has been segmented into type, application, vehicle type, and region. Moreover, by type, the global market has been bifurcated into proximity detection and range measurement. By application, it is segmented into park assist and blind spot detection. The vehicle type segment includes passenger cars, light commercial vehicles, heavy commercial vehicles, and electric vehicles. In addition, on the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Factors such as increased parking concerns across the globe, growth in demand for internet of things (IoT)-based technology, and high demand for safety features provide lucrative opportunities for growth of the global automotive ultrasonic technologies market. Moreover, factors such as high implementation cost & configuration complexity and low rate of penetration in developing regions hamper growth of the market. However, rise in investments on building driverless vehicles and technological advancements in advanced driver assistance system are factors that are expected to provide lucrative growth opportunities, which supplements growth of the global automotive ultrasonic technologies market.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

Based on region, Europe contributed to the highest share in 2020, garnering nearly one-third of the total market, and is expected to retain its dominance in terms of revenue by the end of 2028. Simultaneously, the market across LAMEA is expected to register the fastest CAGR of 11.0% throughout the forecast period, due to increased income of the individuals followed by rising demand for luxury vehicles in this province.

๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ญ๐จ ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ? ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A11857

Based on application, the park assist segment garnered the major share in 2020, generating nearly half of the global automotive ultrasonic technologies market size, owing to the fact that the system uses numerous sensors to determine the approximate distance between two parked vehicles. At the same time, the blind spot detection segment is projected to manifest the fastest CAGR of 10.1% from 2021 to 2028. This is because a blind spot detection system uses sensors to detect the objects not visible to the driver.

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ฉ๐ฎ๐›๐ฅ๐ข๐ฌ๐ก๐ž๐ ๐›๐ฒ ๐€๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Automotive Air Filters Market – https://www.alliedmarketresearch.com/automotive-air-filters-market-A13811

Automotive Trailer Market – https://www.alliedmarketresearch.com/automotive-trailer-market

Automotive Advanced High Strength Steel (AHSS) Market – https://www.alliedmarketresearch.com/automotive-advanced-high-strength-steel-market-A06032

Automotive Chassis System Market – https://www.alliedmarketresearch.com/automotive-chassis-systems-market

David Correa
Allied Market Research
+1 503-894-6022
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