Automotive sensors are essential parts of an automobile's Electronic Control Unit (ECU) that monitor several vehicle characteristics, including its speed, engine, coolant levels, fuel consumption, and pollution. They send instructions to the ECU, which then makes the necessary modifications. They are responsible for monitoring the performance of the vehicles' internal and external surroundings to ensure the effective and safe functioning of the vehicles.
The automotive sensor market worth in 2021 was USD 23.3 billion, and it will be worth USD 74.42 billion by 2030, growing at a 13.6% CAGR.
Primary drivers of market expansion are the fast-rising global automobile production, the burgeoning trend of electrification in the automotive industry, and increasing consumer demands for improved comfort & safety in vehicles are the main drivers of market expansion.
Market Dynamics
Drivers
Key drivers driving the market expansion include the increasing need for sensors in electric and hybrid vehicles, expanding pressure sensor applications in the automotive industry, and considerable growth in custom-designed automotive electronic devices. The market is fostering due to strict government regulations regarding the emissions of dangerous gases into the environment. In recent years, the industry expansion has been significantly driven by public concern about safety and security.
Restraints
It is much more difficult to distinguish between system signals and noise, such as road obstructions, because most sensors have a narrower measuring range and signal bandwidth. On the other hand, monitoring moving objects becomes significantly more difficult in bad weather like rain and blizzards. These issues will slow the market's growth rate for automotive sensors.
Opportunity
The current infotainment features and trends are being added to cars at an exponential rate. The sophisticated infotainment systems now found in a typical car include reconfigurable instrument clusters, center consoles, and passenger entertainment. Additionally, larger screens with better brightness levels and finer resolutions are improving display quality.
Market Segmentation
Sensor Type Insights
With a market share of roughly 38.94%, in 2021, the Temperature Automotive Sensors sector led the market on the basis of sensor type. The temperature sensor is essential for ensuring that the car's engine runs within the right temperature range and doesn't function over the warning level, thus enhancing market profitability. Furthermore, as such temperatures are optimal for the optimum performance in automobiles, temperature sensors should be utilized between -40° C and 150° C. Thermistors, resistive temperature detectors, and silicon-based integrated circuit (I.C.) chips are only a few of the different kinds of temperature sensors that are used.
Vehicle Type
The Passenger Car segment accounted for the majority share of 84.44%. Automotive sensors are utilized in passenger cars to improve performance efficacy, decrease carbon emissions, and promote safety. This is driving market expansion internationally.
Application Insights
With a market share of around 28.76% in 2021, the Powertrain Systems category ruled the market. The sensors in automobiles in the Powertrain Systems offer all the data necessary for engine management and transmission control. To ensure that the driving functions in the car are always set to perfection, these sensors transmit relevant measurement data to the electronic control units, such as air mass, pressure, and speed measurements.
Regional Analysis
Geographically, the Asia Pacific region held a respectable portion of the market, with a total of 50.16%. The APAC market's growth is fueled by rising levels of consumer disposable income and readily available, affordable labor for installing automobile sensors. The government's initiative to speed up the installation of automotive sensors in vehicles for driving safety will aid market growth. All vehicles operating at frequencies more than 80 km/h must have airbag sensors, alarm systems, seat belt reminders, and reverse parking sensors installed, according to the Indian Ministry of Road Transport.
In 2021, Europe had the market's highest growth rate. The European Passenger Car Sensors Market will grow at a CAGR of 9.3%. The emergence of countless European start-ups is to blame for this. For instance, the Norwegian start-up company TracSense creates high-end automobile sensor system solutions.
Key Players
- Valeo
- DENSO Corporation
- AUTOLIV INC
- Continental AG
- STMicroelectronics N.V.
- Robert Bosch
- Infineon Technologies AG
- Sensata Technologies
- Delphi Automotive Company
- NXP Semiconductor
The automotive sensor market worth in 2021 was USD 23.3 billion, and it will be worth USD 74.42 billion by 2030, growing at a 13.6% CAGR. The market is expanding due to the increased demand for vehicles with integrated technology in terms of features like Anti-Lock Braking Systems (ABS), Advanced Driver Assistance Systems (ADAS), and others. The increased demand for sensors is partly a result of consumers becoming more aware of enhanced safety features like stability control, automatic emergency braking (AEB), and collision avoidance systems in passenger vehicles.
Market Research Future (MRFR) study on the “Global Automotive Sensors Market” is an in-depth evaluation that provides a comprehensive overview of the industry.
Global Automotive Sensors Market is expected to be valued at USD 35 Billion by 2023 with CAGR of 7% during the forecast period.
The study covers the COVID-19 overview of the global market and offers a thorough explanation of market segments, current trends, growth forecasts, and market challenges from 2018 to 2023 (forecast period) to identify growth opportunities.The global automotive sensors market is spanned across Americas, Europe, Asia Pacific, and the Rest of world.
North America dominates the automotive sensors market due to growing adoption of innovative technologies that has positive implications for the future of transportation, which is propelling the automotive sensors market growth to a large extent.
In January 05, 2018, Denso Corporation, a leading automotive supplier acoss the world is leading in AI-powered technology and fresh approach with a startup, ActiveScaler, a developer of Managed Mobility-as-a-Service, is aiming to provide end-to-end MaaS businesses.
With this technology, the company is offering an advanced analytics and automation, high security, and regulatory compliance to their customers.The prominent players in the global automotive sensors market Analog Devices Inc. (U.S.), Broadcom Limited (U.S.), Bosch Sensortech GmBH (Germany), Bourns Inc. (U.S.), Delphi Automotive LLP (U.K), Denso Corporation (Japan), GE Measurement & Control Solutions (U.S.), STMicroelectronics (Switzerland), Infineon Technologies AG (Germany), Continental AG (Germany), Micronas Semiconductor Inc. (Switzerland), Panasonic Corporation (Japan), Sensata Technologies (U.S.), TRW Automotive Inc. (U.S.), and Vishay Intertechnology, Inc. (U.S.) among others.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/959 Global Automotive sensors Market Segmentation The global automotive sensors market is segmented into sensor type, technology, vehicle types, and region.The sensor type segment is sub-segmented into Pressure Sensors, Temperature Sensors, Speed Sensors, Position Sensors, O2 Sensors, NOx Sensors, Inertial Sensors, Image Sensors and others.The technology segment is sub-segmented into Micro-Electro-Mechanical Systems (MEMS), Nano-Electro-Mechanical Systems (NEMS).The vehicle types segment is sub-segmented into low end, medium end, high end, heavy vehicle, electrical vehicles and others.The market is spanned across regions including North America, Europe, Asia Pacific, and rest of the world.Regional Analysis:The North American region is experiencing a higher demand due to building of new multi-mode transportation and autonomous vehicles, which is widely used in the transportation sectors.
Today’s modern automobiles have a variety of sensors.
You may hear of several of them such as: Throttle position sensor, TPMS sensor.
These sensors built into their engine to ensure that the owner can identify and prevent possible issues before they result in breakdowns can result in expensive repairs.Automotive sensors are swiftly gaining popularity among OEM especially in Asia-Pacific.
TE Connectivity Ltd. is one of the prevalent manufacturers in global automotive sensor market, helping consumers to get reliable vehicle performance even in extreme conditions.Request For Report Sample: https://www.trendsmarketresearch.com/report/sample/3059 Additionally, need for sensors in powertrain systems is constantly increasing, driven by stringent government regulations to increase fuel efficiency and reduce emission.
However, high cost pressure on OEMs is restraining the market growth.
Moreover, advanced technologies and innovations such as advanced driver assistance systems (ADAS), lane departure warning (LDW) systems are likely to open new growth opportunities for players operating in the automotive sensors market.The global automotive sensor market is categorized on the basis of type and component.Based on type, the market is segmented into pressure sensor, temperature sendsor, motion sensor, gas sensor, micro-electro-mechanical-systems (MEMS) sensor.Out of these, MEMS sensor had a dominant share as compared to the other segments under this category in 2014.Request for Table of Contents: https://www.trendsmarketresearch.com/report/requesttoc/3059 In addition, rising application of MEMS sensor in accelerometer, vehicle dynamics control, inertial brake lights, headlight leveling, automatic door locks, and active suspension systems amongst others, are factors responsible for the major contribution of this segment.Development in the field of ’Advance Driver Assistance Systems‘(ADAS) and hybrid and electric vehicle are showing promising the future opportunities for automotive sensors market.The report has also covered the key players in the automotive sensor market.Some of the key players are Continental AG, Robert Bosch GmbH., Denso Corporation, and Autoliv, Inc.
