|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The automotive sensors market was valued at USD 27.51 billion in 2021 and is expected to register a value of USD 59.12 billion in 2027 and is expected to record a CAGR of 13.60% during the forecast period (2022-2027).
The outbreak and the wide spread of the pandemic negatively affected the automotive sensors market, resulting in decreased demand for automotive sensors. Major manufacturers shut down their manufacturing plants, which disrupted the supply chain, likely affecting the market growth.
Automotive sensors are an integral part of a vehicle, which are designed to detect, transmit, analyze, record, and display vehicle performance information of the internal and external environment of the vehicle. With the increasing popularity of vehicle automation and the growing demand for connected cars across the world, the demand for automotive sensors is expected to grow significantly during the forecast period.
The major trends driving the global automotive sensors market are miniaturization and improved communication capabilities, which enable their integration into vehicles without interfering with the basic functionalities of the vehicle. The increasing demand for safety and security in automobiles is the main factor driving the market's growth.
Scope of the Report
The Automotive Sensors Market is segmented based on the type. The market is segmented into Temperature, Pressure, Speed, Level/Position, Magnetic, Gas, and Inertial), and Application (Powertrain, Body Electronics, Vehicle Security Systems, and Telematics. Based on the vehicle type, the market is segmented into Motorcycles, Passenger Cars, and Commercial Vehicles. Based on Geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. The report covers the market size in value (USD billion) for all the above segments.
The automotive sensor report covers the growing adoption of different types of sensors in passenger cars and commercial vehicles, investments made by OEMs to establish their presence in North America, emission regulations, developments in the used-car market, and the market shares of both OEMs and OES. The scope of the report includes.
|Vehicle Security Systems|
Key Market Trends
Increasing Demand for Pressure Sensors
Pressure sensors are becoming an integral part of engine and safety. Within the engine, the sensors monitor the oil and coolant pressure and regulate the power that the engine delivers to achieve the required speed, whenever the accelerator or brake pedals are applied.
Rising adoption of ADAS and autonmous driving systems is the major reason for the elevated demand for automotive sensors which in turn is likely to increase the demand for pressure sensor. Rise in demand for comfort and safety features in vehicle is likely to increase the penetration of pressure sensors in vehicle.
Additionally, in the case of safety features, pressure sensors constitute an essential part of the anti-lock braking system (ABS). This system adapts to the road terrain and ensures that, in case of braking at high speeds, tires do not lock, and the vehicle does not skid.
Pressure sensors in the ABS, inform the processor of the road conditions, as well as, the speed with which the vehicle is moving.
Furthermore, airbag systems also use pressure sensors to activate airbags, and to ensure the safety of the passengers and the driver, whenever a vehicle experiences a crash impact.
Pressure sensors are being extensively used in onboard vehicle diagnostics and test equipment by OEMs and race teams. Pressure sensors are digitally reinforced to gauge the absolute pressure ranges, depending on the application.
With the rapid increase in the integration of safety systems in vehicles, especially in North America and Europe, the demand for and the usage of these sensors will increase significantly during the forecast period.
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Asia-Pacific Dominates the market
Asia-Pacific held a major market share in terms of revenue during the forecast period. A rise in vehicle sales across the region is likely to increase the demand for sensors in the vehicle. The rise in demand for electric vehicles across the region is also propelling the growth of the market. The major presence of manufacturing industries across China, India, and Japan is creating market growth opportunities.
Due to increasing urbanization and stable economic conditions, automotive production in developing economies is growing faster than in developed economies. With an increase in the safety concerns among the consumers in the developing economies of India and the ASEAN countries, automobile manufacturers are incorporating more sensors in low-cost vehicles. It is expected to drive the demand for automotive sensors in the foreseeable future.
The Indian government's move to make the installation of some automotive sensors mandatory will aid the increased usage and demand for automotive sensors in all of the vehicle segments in the Indian automotive market. For instance, the Union Road Transport Ministry approved that all the cars manufactured after 1st July 2019 will have to be equipped with airbags, seat-belt reminders, alert systems for speed beyond 80 kph, reverse parking sensors, and a manual override over the central locking system for emergencies.
There is the rapid integration of high-value sensing modules, like RADAR, imaging, and LIDAR in automotive systems. The advent of electric vehicles will significantly change the amount and the distribution of pressure and magnetic sensors within the car in the long term. More electric cars will mean fewer pressure sensors and a surge in magnetic sensors for battery monitoring and various positioning and detection of moving pieces.
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The leading automotive technology manufacturers are increasingly investing in R&D projects and making deals with other leading technology manufacturers.
For instance, Panasonic, a leading automotive technology provider, has developed the latest drowsiness-detection technology. This technology analyzes a person’s level of drowsiness by accurately calculating the driver’s state without any physical contact. An in-vehicle camera will capture the blinking features and facial expressions, and these signals will be processed using artificial intelligence. The technology also contains a thermal sensation monitoring function, allowing the driver to stay awake while driving.
TE Connectivity Ltd
Texas Instruments Incorporated
NXP Semiconductors NV
Sensata Technologies Holding PLC
- In November 2021, Robert Bosch GmbH developed an innovative and advanced driver-assistance system for city rail transportation. In the event of a possible collision, it first warns the tram driver by means of a signal. If the driver does not intervene or does so too late, the system automatically brakes the tram until it comes to a complete stop to prevent an impact or, at least, to reduce it as much as possible.
- In October 2021, Infineon Technologies AG launched an automotive current sensor— XENSIV TLE4972. The coreless current sensor uses Infineon’s well-proven Hall technology for precise and stable current measurements.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1.1 Temperature Sensors
5.1.2 Pressure Sensors
5.1.3 Speed Sensors
5.1.4 Level/Position Sensors
5.1.5 Magnetic Sensors
5.1.6 Gas Sensors
5.1.7 Inertial Sensors
5.2.2 Body Electronics
5.2.3 Vehicle Security Systems
5.3 Vehicle Type
5.3.1 Passenger Cars
5.3.2 Commercial Vehicles
5.4.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.4.4 Rest of the World
188.8.131.52 United Arab Emirates
184.108.40.206 Other Countries
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 DENSO Corporation
6.2.2 Infineon Technologies AG
6.2.3 Robert Bosch GmbH
6.2.4 Texas Instruments Inc.
6.2.5 Sensata Technologies Holding PLC
6.2.6 Aptiv PLC (Delphi Automotive)
6.2.7 CTS Corporation
6.2.8 Maxim Integrated Products Inc.
6.2.9 NXP Semiconductors NV
6.2.10 Analog Devices Inc.
6.2.11 Continental AG
6.2.12 Littelfuse Inc.
6.2.13 Hitachi Automotive Systems Americas Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frequently Asked Questions
What is the study period of this market?
The Automotive Sensors Market market is studied from 2018 - 2027.
What is the growth rate of Automotive Sensors Market?
The Automotive Sensors Market is growing at a CAGR of 13.6% over the next 5 years.
What is Automotive Sensors Market size in 2018?
The Automotive Sensors Market is valued at 27 Billion USD in 2018.
What is Automotive Sensors Market size in 2027?
The Automotive Sensors Market is valued at 59 Billion USD in 2027.
Which region has highest growth rate in Automotive Sensors Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Sensors Market?
North America holds highest share in 2021.
Who are the key players in Automotive Sensors Market?
TE Connectivity Ltd, Texas Instruments Incorporated, Continental AG, NXP Semiconductors NV, Sensata Technologies Holding PLC are the major companies operating in Automotive Sensors Market.