With the emergence and long-term Impact of COVID-19, Global Automotive Ultrasonic Technologies Market to reach USD 3.19 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Automotive Ultrasonic Technologies Market points towards a potential rise to USD 3.19 billion by 2030. Automotive ultrasonic technologies are the application of ultrasonic waves in the automotive industry for various purposes, predominantly in the development of Advanced Driver-Assistance Systems (ADAS) and other safety features. Ultrasonic sensors, which operate at frequencies beyond the range of human hearing, are employed to detect objects, measure distances, and assist in parking, collision avoidance, and blind-spot monitoring.
These sensors emit ultrasonic waves that bounce off surrounding objects, and the returning signals are analyzed to determine the object’s distance and location. The Automotive Ultrasonic Technologies Market is expanding because of factors such as increasing demand for Advanced Driver-Assistance Systems (ADAS), the growing trend of autonomous and electric vehicles and rising vehicle production and sales.
Geographically, the global Automotive Ultrasonic Technologies market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to rising technological advancement, rising adoption of autonomous vehicles, and rising demand for connected vehicles in the region. Europe is expected to grow at the fastest rate over the forecast period, owing to factors such as rising vehicle production, rising demand for electric vehicles, and rising development of ADAS technologies in the region.
The global Automotive Ultrasonic Technologies market is highly competitive owing to the presence of several key players such as Aisin Corporation Continental AG Denso Corporation Hyundai Mobis Co. Ltd. Magna International Inc Murata Manufacturing Co. Ltd. Robert Bosch GMBH TDK Corp. Elmos Semiconductor SE Valeo SA. and others.
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Key findings of the study suggest:
- Global Automotive Ultrasonic Technologies Market is anticipated to grow with a healthy growth rate of more than 8.5% over the forecast period 2023-2030.
- In the Vehicle Type, Passenger Cars emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising demand for connected vehicles in the region.
- Europe is expected to grow at higher rate owing to rising demand for electric vehicles in the region
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- Proximity Detection
- Range Measurement
By Application:
- Parking Assistance System
- Blind Spot Detection
- Others
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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