Automotive Sensors Market
The global automotive sensors market is expected to register a CAGR close to 8% during the forecast period, 2018 to 2023. The major trend driving the global automotive sensor market is miniaturization and improved communication capabilities, which enables their integration into vehicles without interfering with the basic functionalities of the vehicle. The increasing demand for safety and security in the automobiles is the main factor that is playing a vital role for the growth of this market.
Government Initiatives for Safer Roads
According to the World Health Organization, more than 1.25 million people are killed in road accidents every year and about 50 million people get injured. For instance, major automakers have agreed to install automatic emergency braking systems in nearly all U.S. vehicles by September 2022. Similarly, EU commission is considering to introduce automatic braking system mandatory for cars. As a result, the demand for automotive sensors is expected to rise.
Connected Vehicles and Advancements in other vehicular technology
Automated and connected vehicle technologies are among the most heavily researched automotive technologies. Connected car devices essentially assist in monitoring vehicles and drivers. The devices also keep private automobile owners, as well as fleet managers are updated about their vehicle’s performance on the fuel economy index, emissions, on-board diagnostics (OBD), vehicle maintenance, and recalls. Some devices also provide GPS tracking and real-time alerts. Connected vehicles could dramatically reduce the number of fatalities and serious injuries caused by accidents on our roads and highways. The U.S. Department of Transportation's (USDOT’s) Connected Vehicle program is working with state and local transportation agencies, vehicle and device makers, and the public to test and evaluate technology that will enable cars, buses, trucks, trains, roads and other infrastructure, and our smartphones and other devices to “talk” to one another. Other significant factors that are driving the market are increasing vehicle production worldwide, stringent government regulations with respect to economy and emissions norms, increasing vehicle electrification and growing demand for sensors for the convenience and comfort. The continuous innovations and investments in research and development to meet the changing consumer preferences has led to improved fabrication techniques and enhanced sensing abilities at lower costs driving market growth. The two big trends for vehicles are electrification and automation, currently. There is rapid integration of high value sensing modules like RADAR, imaging, and LIDAR in automotive systems. The advent of electrical vehicles will greatly 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.
Source: Statista/Mordor Intelligence
Key Developments in the Automotive Sensors Market
- February 2018: Denso takes a stake in Creationline to strengthen connectivity business
- January 2018: Denso develops new vision sensor for improved night driving safety
- March 2017: Analog Devices completed acquisition of linear technology
- January 2017: ATT, Delphi, and Ford debut V2X advanced vehicle communications
Automotive Sensors Market Major players: Denso Corporation, Infineon Technologies, Bosch, Texas Instruments, Sensata Technologies, Delphi Automotive, CTS Corporation, amongst others.
Reasons to Purchase Automotive Sensors Market Report
- The report analyses how the growing trend of electric vehicles will impact global automotive sensors market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The sensor type that is expected to dominate the market.
- The regions that are expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in Excel)
Customization of Automotive Sensors Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
1.1 Research Methodology
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Assumptions
2.4 Econometric Forecast Model
3. Executive Summary
4. Automotive Sensors Market Overview and Technology Trends
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of the Suppliers
4.3.2 Bargaining Power of the Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry
5. Automotive Sensors Market Dynamics
5.1 Automotive Sensors Market Drivers
5.1.1 Stringent Government Regulations
5.1.2 Demand for Safety and Comfort
5.2 Automotive Sensors Market Restraints
5.2.1 Nascent Aftermarket of Automotive Sensors
5.3 Automotive Sensors Market Opportunities
5.3.1 Development of Electric Vehicles and Autonomous Cars
6. Global Automotive Sensors Market Segmentation - By Type
7. Global Automotive Sensors Market Segmentation - By Application
7.2 Body Electronics
7.3 Vehicle Security Systems
8. Global Automotive Sensors Market Segmentation - By Vehicle Type
8.1 Passenger Vehicles
8.2 Commercial Vehicles
9. Global Automotive Sensors Market Segmentation - By Geography
9.1 North America Automotive Sensors Market Share (2018-2023)
9.1.1 United States Automotive Sensors Market Share (2018-2023)
9.1.2 Canada Automotive Sensors Market Share (2018-2023)
9.1.3 Mexico Automotive Sensors Market Share (2018-2023)
9.1.4 Rest of North America
9.2 Asia-Pacific Automotive Sensors Market Share (2018-2023)
9.2.1 China Automotive Sensors Market Share (2018-2023)
9.2.2 Japan Automotive Sensors Market Share (2018-2023)
9.2.3 India Automotive Sensors Market Share (2018-2023)
9.2.4 Rest of Asia-Pacific
9.3 Europe Automotive Sensors Market Share (2018-2023)
9.3.1 Germany Automotive Sensors Market Share (2018-2023)
9.3.2 United Kingdom Automotive Sensors Market Share (2018-2023)
9.3.3 France Automotive Sensors Market Share (2018-2023)
9.3.4 Rest of Europe
9.4 Rest of the World
10. Competitive Landscape
10.2 Market Share Analysis
11. Company Profiles
11.1 Denso Corporation
11.2 Infineon Technologies
11.3 Robert Bosch GmbH
11.4 Texas Instruments Inc.
11.5 Sensata Technologies BV
11.6 Aptiv PLC (Delphi Automotive)
11.7 CTS Corporation
11.8 Maxim Integrated
11.9 NXP Semiconductors NV
11.10 Analog Devices Inc.
11.11 Continental Automotive AG
11.12 Littlefuse Inc.
11.13 Hitachi Automotive Systems Americas
12. Automotive Sensors Market Outlook