Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Automotive Sensor Market (OEM): Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive sensor market (OEM) has been the linchpin of innovation in the automotive industry, with electronic sensors playing a pivotal role in monitoring and regulating various vehicle systems.
A recently published market research report covering the period from 2021 to 2030 reveals the profound impact of these sensors on the industry, along with a forecast that anticipates significant growth.
The report unveils that the revenue generated by the automotive sensor market reached USD 32.33 Billion in 2022, and it is expected to surge to USD 49.48 Billion by 2030, showcasing a compound annual growth rate (CAGR) of 6.27% during this period.
This substantial growth is attributed to the increasing adoption of Electric Vehicles (EVs) and Autonomous Vehicles (AVs), as well as growing consumer demand for enhanced safety and comfort features in vehicles.
Key Findings:
Drivers of Growth:
- EVs and AVs: The surging popularity of Electric Vehicles (EVs) and Autonomous Vehicles (AVs) is a driving force behind the increased demand for automotive sensors.
- Safety and Comfort: Consumers' rising expectations for advanced safety and comfort features in vehicles are boosting the automotive sensor market.
Challenges:
- Costs: The adoption of advanced sensor technologies can increase the overall cost of vehicles, which may restrain market growth.
Opportunities:
- Advanced Driver-Assistance Systems (ADAS) and AVs: The growth of ADAS and Autonomous Vehicles presents significant opportunities for the automotive sensor market.
Market Segmentation:
- The global automotive sensor market (OEM) is segmented by type, including Pressure Sensor, Temperature Sensor, Speed Sensor, Position Sensor, and Other Powertrain Sensors.
- Application segments cover Powertrain, Body Electronics, Vehicle Security Systems, Telematics, and Others.
Key Market Players:
- Robert Bosch GmbH
- Continental AG
- Panasonic Corporation
- DENSO CORPORATION
- Infineon Technologies AG
- Vishay Intertechnology, Inc.
- CTS Corporation
- Analog Devices, Inc.
- Sensata Technologies, Inc.
- Texas Instruments Incorporated
The comprehensive report provides a detailed analysis of the global and regional automotive sensor markets (OEM), covering trends, developments, and forecasts up to 2030. It also includes in-depth profiles of key market players, offering insights into their product portfolios, revenues, SWOT analyses, and the latest company developments.
For more information about this report visit https://www.researchandmarkets.com/r/wpa6dz
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