The ultrasound sensing module market is expected to reach $6.2 billion in 2025 with a 5.1% CAGR between 2019 and 2025, says Yole Developpement.

ADAS applications are the biggest market segment expecting to reach $4.3 billion. ADAS  uses conventional bulk piezoelectric transducer technologies.
Consumer and medical applications are starting to use Capacitive Micromachined Ultrasonic Transducers (CMUT) and Piezoelectric Micromachined Ultrasonic Transducers (PMUT) which are growing twice as fast and offer new opportunities.
Companies are adopting different  technologies. In the automotive sector, players like Continental are participating in projects to integrate MUT technologies for in-cabin gesture recognition. Qualcomm and TDK are  offering off-the shelf solutions or platforms. 

Emerging ultrasound technologies not only compete with standard piezoelectric bulk technologies, but also with other types of detection such as 3D sensing and radar.
Most of the new opportunities are due to developments in ultrasound micro technologies. The miniaturization and technical specifications of MUT have made it possible to imagine applications where miniaturization and high integration are essential, or where volumes are large and component cost is key.
 Among these opportunities, the integration of ultrasound modules in VR headsets for gesture-recognition applications and fingerprint biometrics for smartphones and tablets in the consumer market, as well as point-of-care ultrasound in the medical sector, show strong growth with an expected CAGR of 81% for VR headsets integrating ultrasound sensing, between 2019 and 2025. 
For most of the fastest-growing applications over the period 2019 – 2025, the use of alternatives to bulk piezoelectric technologies has been one of the enablers. 
Also, these applications make it possible to create new opportunities, e.g. using touch sensing commands to replace physical buttons on smartphones and tablets, or even image-guided therapeutic devices (for example, catheters) for IVUS in the medical interventional sector requiring single use product. Here again, CMUT and PMUT have shown growing interest.
MUT technologies, whether capacitive or piezoelectric, have their own characteristics and are not always suitable for all applications. 
CMUT allows excellent image resolution, which makes them candidates for medical imaging applications. 
PMUT is more suited to detection which allows it  to be integrated into applications such as biometric fingerprint and time-of-flight applications in the air like for gesture recognition.