According to a new report, published by KBV research, The Global Ultrasonic Position Sensor Market size is expected to reach $127.5 million by 2031, rising at a market growth of 3.3% CAGR during the forecast period.
The Medium segment is leading the Global Ultrasonic Position Sensor Market, by Range in 2023; thereby, achieving a market value of $46.4 million by 2031. This segment's performance highlights its relevance and adoption in applications requiring distance measurements spanning moderate distances. Industries such as robotics (for navigation and object detection), healthcare (for medical imaging and diagnostics), and security (for surveillance and access control) are key contributors to the demand for medium-range ultrasonic sensors.
The Healthcare segment is experiencing a highest CAGR of 2.8% during (2024 - 2031). Ultrasonic sensors are widely utilized in healthcare applications such as medical imaging (ultrasound imaging), non-invasive diagnostics, patient monitoring, and surgical navigation. The increasing adoption of ultrasonic sensors in medical devices, diagnostic equipment, and healthcare facilities contributed to the healthcare segment's growth, highlighting the critical role of ultrasonic technology in advancing medical diagnostics and patient care.
Full Report: https://www.kbvresearch.com/ultrasonic-position-sensor-market/
The Europe region dominated the Global Ultrasonic Position Sensor Market, by Region in 2023; thereby, achieving a market value of $43.6 million by 2031. The North America market is anticipated to grow at a CAGR of 3.1% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 3.8% during (2024 - 2031).
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