seobhushan (18)

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Ultrasonic Sensors Market is projected to reach
CAGR 10.5 by 2027
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Key Insights from Ultrasonic Sensors Market

• Rising implementation of ultrasonic sensors
  across a plethora of industrial applications such
  as robot sensing, counting substances in conveyor
  belts, box sorting schemes, and liquid level
  control, among others, will outline the growth of
  the industry. The sensors are also gaining
  immense traction from AMRs (autonomous mobile
  robots) to determine vehicle distance from the
  object and for detecting obstacles.
• An ultrasonic sensor is an electronic component
  that can measure the distance of a target object
  by emanating ultrasonic sound waves and changes
  the reflected sound into an electrical signal.
  Ultrasonic sensors have two main components the
  transmitter, and the receiver. These sensors are
  regularly utilized in an extensive range of
  non-contact-based distance computing
  applications. One of the most common instance
  where these components are used is storage tanks,
  where they monitor the level of liquids or solid
  materials in the tanks.

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Regional Insights in Ultrasonic Sensors Market

• The Europe ultrasonic sensor market is forecast
  to show lucrative growth in the coming years,
  majorly driven by the supportive government
  initiatives that are looking to fast-track the
  manufacturing sector in the region. In fact, in
  September 2020, the UK government announced a
  funding initiative of around USD 356.6 million,
  with a sole focus on boosting the countrys
  manufacturing sector.
• Such initiatives will attract and create multiple
  growth opportunities for foreign manufacturers to
  invest and establish new manufacturing facilities
  in the region. These efforts are anticipated to
  stimulate the growth of the ultrasonic sensor
  market over the estimated period. The European
  ultrasonic sensor market is anticipated to
  register a 10 CAGR through the reports study
  period.

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Major Companies in Ultrasonic Sensors Market

• Banner Engineering Corp.
• TE Connectivity Ltd
• TDK Corporation
• Rockwell Automation Inc.
• Murata Manufacturing Co. Ltd

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Industry Coverage

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