V2X and Automotive IoT Key Trends in Ultrasonic Sensors Market
Since Elon Musk is set to become the richest person in the world in 2022, it is predicted that the business of autonomous and electric cars is about to skyrocket in the near future. The proliferation of ultrasonic sensors in Advanced Driver Assistance Systems (ADAS) is translating into value-grab opportunities for companies in the ultrasonic sensors market.
The growing applications of parking guidance and blind spot detection is fueling the demand for ADAS with ultrasonic sensors. This has led to the acceptance of automotive IoT (Internet of Things) and innovations in electric vehicles (EVs). The need of urban parking solutions and V2X (Vehicle to Everything) technology is triggering the demand for ultrasonic sensors in ADAS to improve road safety, energy savings, and traffic efficiency on the roads.
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Rapid Growth of AEC Industry Benefitting Manufacturers During COVID-19 Crisis
Manufacturers in the ultrasonic sensors market are increasing local production capabilities of components and other products during COVID-19 crisis to reduce dependence on other countries for raw materials. The rising acceptance of precision farming in emerging economies such as India, Indonesia, and Vietnam is creating long-term revenue opportunities for ultrasonic sensor manufacturers.
The ever-expanding architecture, engineering and construction (AEC) industry is generating stable revenue streams for ultrasonic sensor manufacturers. They are diversifying business activities in pulp & paper, material handling, and defense applications to expand income sources. Companies are using contingency planning before unlocking incremental opportunities in new end-use industries and regions.
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Experts Help Educate Clients about Technical Specifications of Ultrasonic Sensors
The ultrasonic sensors market is slated to register a robust CAGR during the assessment period. However, both advantages and disadvantages of these sensors are affecting its adoption among end users from different technical industries. For instance, ultrasonic sensors are known for easily sensing the nature, shape, and orientation of specific objects, which is within the area of these sensors. However, it has been found that these sensors are very sensitive to variation in temperature.
Hence, companies in the ultrasonic sensors market are hiring a team of experts and subject matter specialists to help end-user clients and customers to make the right choice in ultrasonic sensors as per unique technical specifications.
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Ultrasonic Agriculture Sensors Emerge as Breakthrough Innovation for Use in Precision Farming
Agriculture-rich countries such as India, the U.S., China, and Russia, among others, are witnessing the proliferation of precision farming technologies. Manufactures in the ultrasonic sensors market are boosting the production of ultrasonic agriculture sensors that are being used for monitoring irrigation systems in order to prevent overwatering and underwatering that could potentially damage crops.
Soil monitoring is also creating value-grab opportunities for ultrasonic sensor manufacturers, since this technique is useful for monitoring and controlling the application of fertilizers, pesticides, and insecticides.
