Ultrasonic Corner Sensor Market 2017 - 2025: Growth, Trends, Key Players, Competitive Strategies and Forecasts

The global ultrasonic corner sensor market is primarily driven by the automotive industry. The factors such as growing number of car users, growing adoption of automotive control systems, increase in the development of fully autonomous and semi-autonomous automobiles and technologies propels the demand for the ultrasonic corner system. The ultrasonic corner system ensures safe, accurate and convenient parking and also provide object detection in the proximity of the vehicle to avoid damage and collision. Moreover the features such as simple design of the system, reduction in the drivers’ stress while reversing the vehicle, protection to the pedestrian, cyclists and workers, minimizing vehicle damage, and compliance with government regulations favor the growth of global ultrasonic corner sensor market and thus is expected to have significant CAGR in the forecast period

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However, the cost of the system, maintenance of the sensors and installation process are few of the reasons which affect the demand for the ultrasonic corner sensor market. The major factor restraining the global ultrasonic corner sensor market includes the fact that the sensors are enabled only when the ignition keys are ON. This may arise the possibility of an accident when the car is parked.

Safety devices such as cameras, lidar, sensors are the primary focus of the manufacturers and users while dealing the vehicles. The government had mandated the manufacturers to provide these safety devices to avoid any injury or damage to the pedestrians or the driver. Ultrasonic are the waves having a frequency above an upper limit of human hearing capabilities.  Ultrasonic waves are above 20 KHz. Ultrasonic waves are preferred in most of the electronic equipment as they are inaudible to the users and is highly directive. The ultrasonic sensors are the equipment used in the automotive industries to inform the driver about the obstacles. Thus it helps to avoid such accidents. The ultrasonic sensors consist of transmitter and receiver which are used to direct a wave towards the object, and the refracted wave is captured by the receiver via transducer which will alert the system and thus inform the user. Ultrasonic corner sensor is a part of the sensor system which is majorly used in automotive industry. It is installed in the corner of the vehicles to avoid collision with pedestrians, damage while turning the vehicles and in parking. The system facilitates the user to avoid accidents or any damage while parking, and avoid collisions with other vehicles, the presence of any objects, and cyclist.

The car segment in the application of the ultrasonic corner sensor market dominate the other segments regarding market share. Cars use the ultrasonic obstacle detection systems where the corner sensors are installed. The level of security is the area of the vehicle where different sensors are installed depending on the level of security issues. Thus the global ultrasonic corner sensor market is projected to have the positive outlook in the forecast period 2017-2027.

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Geographically, the global ultrasonic corner sensor market is segmented into seven regions namely Latin America, North America, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Japan, and the Middle East and Africa. Though the North America leads the intelligent parking assist system market, the ultrasonic corner sensor systems market is dominated by the Europe regions. The Enhancement of the new car safety standard by the European government and adoption of technologically advanced automobiles facilitate the region to contribute a major share in the growth of ultrasonic corner sensor system. Asia Pacific is expected to be the potential market for the ultrasonic corner sensor market due to increase in the rate of accidents, growing awareness about the use of safety equipment and increasing sale of fully-automatic and semi-automatic automobiles. Thus the global ultrasonic corner sensor market is expected to gain traction in the forecast period 2017-2027.

Some of the prominent players in the global ultrasonic corner sensor market include Mitsubishi Electric Corporation, FELIO Group, Brigade, and Robert Bosch GmbH.

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