Automotive Sensors Market is Expected to Witness Speedy Growth of...

Automotive Sensors Market is Expected to Witness Speedy Growth of USD billion by 2028

Postado 2023-03-28 12:17:13

The Automotive Sensors Market was valued at USD 24.46 Billion in 2020 and is expected to reach USD 51.58 Billion by the year 2028, at a CAGR of 9.7% CAGR during the forecast period (from 2020 – 2028). The continual development in automotive electronics sensors application and technology, the rising concern for safety, increasing demand of automation in automobiles, demand of concept cars from high-income consumers and increasing use of sensors in hybrid semi hybrid and electric cars are boosting the demand of automotive sensors market

Sensors are the type of transducers that detect the difference in its environment due to mechanical change and transfer it as an optical or electric signal to the concerned component. In-vehicle, sensors are used to develop a centralized control system for the car. Sensors are installed in vehicles to increase the reliability of the vehicle and the safety of the passenger. Different sensors such as temperature, pressure sensors, position sensors, speed sensors, NOx, oxygen sensors, and many other sensors are used in automotive.

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Further key findings from the report suggest-

The demand for automotive sensors is expected to witness exponential growth during the forecast period considering the rising number of vehicles with autonomous driving features, and currently, Level 2 and Level 3 autonomous driving is commercialized
- ADAS (Advanced Driver Assistance Systems), the currently booming technology is powered by automotive sensors are driving the automotive sensors market. Further, vehicle autonomy would be achieved by incorporating efficient micro-controllers and highly precise sensors.
Lidar sensor is the most important sensor for an autonomous automotive vehicle. Self-driving or autonomous vehicles being tested by companies such as Uber, Alphabet, Toyota, and others rely heavily on these type of sensors to locate themselves on the detailed maps they need to get around, and to identify things like other vehicles and pedestrians
The rising number of vehicles fortified with autonomous driving sensors will accelerate the growth of the automotive sensors market. The autonomous driving is majorly achieved by the highly efficient and precise micro-controller sensors. AVs are capable of sensing their environment, and the safe movement is proficient with the help of the sensors.
By the application segment, exhaust sub-segment will have better growth during the forecast period. The advanced exhaust sensor takes the performance of the engine to the next level by ensuring less emission of carbon di-oxide with efficient fuel consumption by vehicle.
Images sensors are also now being widely used to update the road maps and provide other crucial directions. Like, if there is a one-way road with no signboards, the systems updated them onto the cloud along with the updating the concerned persons on the requirements of a signboard
The Asia Pacific region is expected to lead the automotive sensors market over the forecast period owing to the increasing production and sale of vehicles in this region. Stable economic condition and improving the standard of living is the key reason for the sales of vehicle in this region
- China is the major player and accounts for the largest share for the automotive sensors market in this region. Other countries like India, Japan, and South Korea have also experienced an increase in the installation of automotive sensors.

Key companies profiled in the report include:

Robert Bosch (Germany), Continental AG (Germany), Delphi Automotive (UK), Denso Corporation (Japan), Infineon Technologies (Germany), Sensata Technologies (US), Allegro Microsystems (US), Analog Devices (US), Elmos Semiconductor (Germany), and CTS Corporation (US) and others are operating in the automotive sensors marketplace

Automotive Sensors Market by Type (Revenue, USD Million; 2020–2028)

Temperature
- Thermocouple
- Thermistor
- MEMS
- Resistance temperature detector
- IC temperature sensor
- Others
Pressure
- MEMS
- Strain gauges
- Ceramic pressure sensors
Position
- Angular
- Linear
Oxygen
NOx
Speed
Inertial
- Accelerometers
- Gyroscopes
Image
- Complementary Metal Oxide Semiconductors (CMOS)
- Charge-coupled Devices (CCD)
Radars
Ultrasonic
Proximity
LiDAR
Others

Automotive Sensors Market by Applications (Revenue, USD Million; 2020–2028)

Powertrain
Chassis
Exhaust
Safety & control
Body electronics
Telematics
ADAS
Others

Automotive Sensors Market by Vehicle Type (Revenue, USD Million; 2020–2028)

Passenger Vehicle
- Mid-sized car
- Sedan
- Minivan
- Convertible
- Crossover
- Hatchback
- Others
Light Commercial Vehicle (LCV)
- Compact
- Utility Vehicle
- Supermini
- Light Truck
- Others
Heavy Commercial Vehicle (HCV)
- Mobile Truck
- Limo
- Recreational Vehicle
- Towing Truck
- Fire Trucks
- Others

Automotive Sensors Market by Propulsion (Revenue, USD Million; 2020–2028)

Electric Vehicles
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
Gasoline Powered

Based on Region market is segmented into:

North America
Europe
Asia-Pacific
South America
Middle East Africa

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