What is the current market size and future outlook for the ultrasonic technology market?
The ultrasonic technology market size has grown rapidly in recent years. It will grow from $2.34 billion in 2024 to $2.64 billion in 2025 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in demand from the medical sector, growth in government initiatives and the rapid industrialization and growth in manufacturing industries.
The ultrasonic technology market size is expected to see rapid growth in the next few years. It will grow to $4.71 billion in 2029 at a compound annual growth rate (CAGR) of 15.6%. The growth in the forecast period can be attributed to the increasing prevalence of chronic illness, the increasing aging population, the growth in the retail sector and the rising public concerns related to optimal food safety and quality. Major trends in the forecast period include focus on use of artificial intelligence (ai), focus on 3d ultrasound technology, launch of compact portable ultrasound, increasing investments, product innovations and strategic partnerships and collaborations.
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What are the top drivers to the rising demand in the ultrasonic technology market?
The growing demand from the medical sector is expected to propel the growth of the ultrasonic technology market going forward. Businesses that provide medical services, manufacture medical equipment or medications, provide health coverage, or otherwise enable the provision of healthcare to patients make up the healthcare sector. In medicine, ultrasound imaging, also known as sonography, is employed frequently. Ultrasound is used to discover unseen faults in products and structures during non-destructive testing. For instance, according to PolicyAdvice, an insurance company, global healthcare spending is expected to reach $10 trillion by 2022. In addition, McKesson is the largest healthcare firm in the United States, with $208.3 billion in yearly revenue. Therefore, the growing demand from the medical sector drives the growth of the ultrasonic technology market.
How is the ultrasonic technology market segmented?
The ultrasonic technology market covered in this report is segmented –
1) By Type: Ultrasonic Proximity Sensor, Ultrasonic Retro-Reflective Sensor, Ultrasonic Through-Beam Sensor, Other Types
2) By Technology: Ultrasonic Medical Technology, Ultrasonic Processing Technology, Ultrasonic Testing Technolog, Other Technologies
3) By Application: Welding, Cleaning, Inspections, Other Applications
4) By End User: Automotive, Food and beverage, Medical and healthcare, Aerospace and defense, Industrial, Other End Users
Subsegments:
1) By Ultrasonic Proximity Sensor: Non-Contact Ultrasonic Proximity Sensors, Short-Range Ultrasonic Proximity Sensors
2) By Ultrasonic Retro-Reflective Sensor: Fixed Ultrasonic Retro-Reflective Sensors, Adjustable Ultrasonic Retro-Reflective Sensors
3) By Ultrasonic Through-Beam Sensor: Transmitter-Receiver Through-Beam Sensors, Reflective Through-Beam Sensors
4) By Other Types: Ultrasonic Flow Meters, Ultrasonic Cleaning Equipment, Ultrasonic Thickness Gauges
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Who are the top competitors in the ultrasonic technology market?
Major companies operating in the ultrasonic technology market include Emerson Electric, Siemens AG, Koninklijke Philips N.V., Olympus Corporation, General Electric Company, Crest Ultrasonics Corp., Honeywell International Inc, Rockwell Automation Inc., Pepperl+Fuchs AG, Omron Corporation, Emcolite Ultrasonics, Paavan Electronic Industries, Nanjing AMIS Medical Technology Co. Ltd, Novalion Medical Instrument Co. Ltd, Guangzhou Happycare Electronics Co. Ltd, Shenzhen Bondway Electronics Co. Ltd, Guangzhou Medsinglong Medical Equipment Co. Ltd, Hilsonic, Canongate Technology Ltd, Cambridge Ultrasonics, Telsonic AG, DGM, Ultratecno, Sonotec, Roop Ultrasonic, Elma Ultrasonic, L&R Ultrasonics, Coltene-Whaledent, Omegasonics, Ultrasonic Power Corporation, Sonicor, Gesswein, Contrinex, STULZ, Abdul Latif Jameel Health, PulseNmore, Dallah Health Company, Canon Medical Systems Corporation, Fujifilm Holdings Corporation, Mindray Medical International Limited, Omega Africa Agencies (Pty) Ltd, Specmed Medical Services, Autowatch, Selective Instrumentation, Controlare and Diel (Pty) Ltd
What significant trends should we anticipate in the ultrasonic technology market over the forecast period?
The use of artificial intelligence is a key trend gaining popularity in the ultrasound technology market. Artificial intelligence transforms medical images into high-throughput mineable data. For example, in February 2023, Samsung, a South Korea-based manufacturing conglomerate, launched a new women’s health ultrasound system, the Hera W10 Elite, which offers visualization features, artificial intelligence (AI)-aided tools and clinical applications for Obstetrics and Gynecology. It provides 2D and 3D visualizations of microcirculatory and slow blood. It features an Advanced MV (microvascular)-Flow feature and a larger organic light-emitting diode (OLED) display that provides an improved characterization of diverse ultrasound images.
Which regional trends are influencing the ultrasonic technology market, and which area dominates the industry?
The countries covered in the ultrasonic technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
What Does The Ultrasonic Technology Market Report 2025 Offer?
The ultrasonic technology market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Ultrasonic technology is the technique of transmitting digital data utilizing barely audible and inaudible sound waves. Ultrasonic technology is used to detect objects and measure distances.
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