2023 Ultrasonic Technology Market Report: Market Size, Growth Drivers, and Key Trends

As per The Business Research Company's Ultrasonic Technology Opportunities And Strategies Market Report 2023, the global ultrasonic technology market reached a value of nearly $1,882.1 million in 2022, having grown at a compound annual growth rate (CAGR) of 13.8% since 2017. The market is expected to grow from $1,882.1 million in 2022 to $3,445.1 million in 2027 at a rate of 12.9%. The market is then expected to grow at a CAGR of 15.5% from 2027 and reach $7,071.3 million in 2032.    

The increasing prevalence of chronic illness is expected to drive the growth of the ultrasonic technology market during the forecast period. The increasing prevalence of chronic diseases has spurred demand for imaging tools, as ultrasound helps in the early detection of diseases and minimizes treatment costs. The frequency of chronic diseases is increasing rapidly, which has increased the demand for healthcare services such as more patient visits, hospital admissions, and surgeries.

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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.

The top opportunities in the ultrasonic technology market segmented by type will arise in the ultrasonic retro-reflective sensor segment, which will gain $573.4 million of global annual sales by 2027. The top opportunities in the ultrasonic technology market segmented by technology will arise in the ultrasonic testing technology segment, which will gain $553.3 million of global annual sales by 2027. The top opportunities in the ultrasonic technology market segmented by application will arise in the welding segment, which will gain $812.9 million of global annual sales by 2027. The top opportunities in the ultrasonic technology market segmented by end user will arise in the medical and healthcare segment, which will gain $470.3 million of global annual sales by 2027. The ultrasonic technology market size will gain the most in the USA at $400.1 million.

Ultrasonic Technology Market Segmentation:
The ultrasonic technology market is segmented by type, by technology, by application and by end user.
By Type -

a) Ultrasonic Proximity Sensor
b) Ultrasonic Retro-Reflective Sensor
c) Ultrasonic Through-Beam Sensor
d) Other Types
By Technology-

a) Ultrasonic Medical Technology
b) Ultrasonic Processing Technology
c) Ultrasonic Testing Technology
d) Other Technologies
By Application-

a) Welding
b) Cleaning
c) Inspections
d) Other Applications.
By End User -

a) Automotive
b) Food And Beverage
c) Medical And Healthcare
d) Aerospace And Defense
e) Industrial
f) Other End Users

Major players in the ultrasonic technology market include Emerson Eletric, Siemens AG, Koninklijke Philips N.V., Olympus Corporation, General Electric Company.

The regions covered in the global ultrasonic technology market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Ultrasonic Technology Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Ultrasonic Technology Market Report Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction and Market Characteristics
……
18. Competitive Landscape And Company Profiles
19. Key Mergers and Acquisitions
20. Opportunities And Strategies
21. Ultrasonic Technology Market, Conclusions And Recommendations
22. Appendix

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