Pune, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The Automotive Sensors Market had a value of USD 31.46 billion in 2022, and it is projected to attain USD 88.50 billion by 2030, registering a CAGR of 13.8% during the forecast period of 2023-2030, as per the report by SNS Insider.
Market Report Scope
Automotive sensors are becoming increasingly crucial for the automotive industry, as they enable the integration of advanced driver-assistance systems (ADAS) in vehicles, improving safety and comfort for drivers and passengers. With stringent government regulations in place for emission control and fuel efficiency, the adoption of sensors in automobiles is gaining momentum.
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Market Analysis
The automotive sensors market is experiencing a significant shift as electric vehicles and hybrid cars are becoming increasingly popular among consumers. The adoption of these vehicles is driven by various factors, including environmental concerns, rising fuel prices, and government incentives. One of the key benefits of electric and hybrid cars is their use of sensors. These sensors provide various functionalities, such as detecting obstacles, monitoring vehicle performance, and enabling advanced driver assistance systems. This results in increased safety and comfort for drivers, as well as improved efficiency.
Automotive Sensors Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 31.46 Billion |
| Market Size by 2030 | US$ 88.50 Billion |
| CAGR | CAGR of 13.8% From 2023 to 2030 |
| Key Segments |
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| Company Profiles | Robert Bosch GmbH, Infineon Technologies AG, Continental AG, NXP Semiconductors N.V., DENSO Corporation, Analog Devices, Inc., BorgWarner, Inc., Sensata Technologies, Allegro Microsystems, Inc., ELMOS Semiconductor SE, Aptiv plc, STMicroelectronics N.V., CTS Corporation, Autoliv, Inc., TE Connectivity, Valeo S.A., ZF Friedrichshafen, and Magna International and other players listed in the final report. |
| Key Drivers |
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| RESTRAINTS |
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Impact of Russia-Ukraine Conflict
The Russia-Ukraine conflict has the potential to disrupt the automotive sensors market in various ways, from the supply of raw materials to the demand for the end products. As the situation continues to unfold, it will be essential for industry players to closely monitor the developments and take appropriate measures to mitigate any potential impact on their businesses.
Key Regional Development
The automotive sensors market is projected to experience significant growth over the forecasted period, with the Asia Pacific region expected to be the largest contributor to this growth. The increasing per capita income of the middle-class population and cost advantages for original equipment manufacturers (OEMs) are the primary factors driving this growth. With rising income levels, the demand for vehicles in the Asia Pacific region has been steadily increasing, creating a favorable environment for the automotive industry.
Key Takeaway from Automotive Sensors Market Study
- According to SNS Insider, position sensors are projected to be the largest growing segment of the global market. This trend is expected to continue over the forecasted period due to several factors, including the increasing demand for electric and autonomous vehicles and the need for precise and accurate sensor technology.
- The market is growing rapidly, and the powertrain systems segment is leading the charge with the highest compound annual growth rate (CAGR). This growth can be attributed to several factors, including the strict fuel efficiency and emission regulations that have been enacted by numerous governments around the world.
Recent Developments Related to Automotive Sensors Market
- Uno Minda, a leading Indian automotive components manufacturer, has announced a strategic partnership with Korea's Ascentec to co-develop wheel speed sensors. The collaboration aims to enhance the technological capabilities of both companies and deliver innovative solutions for the automotive industry. With the rapid growth of advanced driver assistance systems (ADAS) and autonomous driving technologies, the demand for high-performance and reliable wheel speed sensors is increasing exponentially.
- Apple, the tech giant, is planning to launch its electric car, popularly known as the "Apple Car," in the near future. The Apple Car will feature components from Lumentum, a supplier of 3D sensors used in Apple's iPhone. Lumentum has been a supplier of Apple's iPhone 3D sensors for a few years now, and it seems that the collaboration between the two companies is set to expand further. The 3D sensors are a key technology in Apple's augmented reality applications, and they are expected to play a critical role in the Apple Car's autonomous driving capabilities.
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Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Automotive Sensors Market, By Sensor Type
8.1 Temperature Sensors
8.2 Pressure Sensors
8.3 Oxygen Sensors
8.4 NOx Sensors
8.5 Position Sensors
8.6 Speed Sensors
8.7 Inertial Sensors
8.9 Image Sensors
8.10 Others
9. Automotive Sensors Market By Application
9.1 Powertrain Systems
9.2 Chassis
9.3 Exhaust Systems
9.4 Safety & Control Systems
9.5 Vehicle Body Electronics
9.6 Telematics Systems
9.7 Others
10. Automotive Sensors Market,By Vehicle Type
10.1 Passenger cars
10.2 LCV
10.3 HCV
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Poland
11.3.1.2 Romania
11.3.1.3 Hungary
11.3.1.4 Turkey
11.3.1.5 Rest of Eastern Europe
11.3.2 Western Europe
11.3.2.1 Germany
11.3.2.2 France
11.3.2.3 UK
11.3.2.4 Italy
11.3.2.5 Spain
11.3.2.6 Netherlands
11.3.2.7 Switzerland
11.3.2.8 Austria
11.3.2.9 Rest of Western Europe
11.4 Asia-Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 Vietnam
11.4.6 Singapore
11.4.7 Australia
11.4.8 Rest of Asia-Pacific
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 UAE
11.5.1.2 Egypt
11.5.1.3 Saudi Arabia
11.5.1.4 Qatar
11.5.1.5 Rest of Middle East
11.5.2. Africa
11.5.2.1 Nigeria
11.5.2.2 South Africa
11.5.2.3 Rest of Africa
11.6. Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Colombia
11.6.4 Rest of Latin America
12 Company Profile
12.1 Guerdon Modular Buildings (U.S.)
12.1.1 Company Overview
12.1.2 Financials
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Laing O'Rourke (U.K.)
12.3 ATCO (Canada)
12.4 Red Sea International Company (Saudi Arabia)
12.5 Bouygues Construction (France)
12.6 VINCI Construction Grands Projets (U.K.)
12.7 Skanska AB (Sweden)
12.8 Algeco (U.K.)
12.9 KLEUSBERG GmbH & Co. KG (Germany)
12.10 Katerra (U.S.)
12.11 Lendlease Corporation (Australia)
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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