Ultrasonic Technology Market Competitive And Growth Analysis 2024 | Emerson Eletric, Siemens AG, Koninklijke Philips N.V., Olympus Corporation, General Electric Company

"The ultrasonic technology market size has grown rapidly in recent years. It will grow from $2.12 billion in 2023 to $2.4 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. 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 $4.1 billion in 2028 at a compound annual growth rate (CAGR) of 14.3%. 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.

Market Overview -
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.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=6063&type=smp

Growing Demand From The Medical Sector Fuels Ultrasonic Technology Market Growth
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.

Competitive Landscape -
Major companies operating in the ultrasonic technology market report are Emerson Eletric, 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, Wuxi Haiying International Trade Co. Ltd., Tritex NDT Ltd, Teknox UK Ltd, Advanced NDT Limited, 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, Brennam Machinery, Krohne Group, 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

AI Integration Emerges As A Key Trend In The Ultrasound Technology Market
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.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/ultrasonic-technology-global-market-report

Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model "

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.