Dublin, June 13, 2024 (GLOBE NEWSWIRE) -- The "Automotive Sensors Market - A Global and Regional Analysis: Focus on Application, Vehicle Type, Sensor Type, Technology, Point of Sale, and Country Level Analysis - Analysis and Forecast, 2023-2033" report has been added to ResearchAndMarkets.com's offering.
The global automotive sensors market was valued at $26.06 billion in 2023, and it is expected to grow at a CAGR of 7.39% and reach $53.16 billion by 2033
The global automotive sensors market thrives due to the integration of advanced mobility solutions, driving innovations in sensor technology, adaptive controls, safety, and eco-friendly solutions. OEM-supplier collaborations and regulatory shifts further shape this dynamic market, focusing on reliable and efficient technology for optimal vehicle performance and safety.
Original equipment manufacturers (OEMs) are increasingly turning to advanced sensor technologies to enhance vehicle performance, safety, and efficiency. With the automotive industry's rapid evolution toward electrification and connectivity, OEMs aim to deliver vehicles equipped with highly reliable and precise sensors.
This demand has fuelled the development of cutting-edge sensor technologies, enabling vehicles to perceive and react to their surroundings with accuracy. As automakers strive to meet stringent regulatory standards and consumer expectations for superior driving experiences, the integration of advanced sensor solutions has become paramount. OEMs are investing heavily in research and development to innovate sensor designs, improve durability, and enhance performance, thereby advancing their position at the forefront of the global automotive sensors market.
The Asia-Pacific region is a dominant region in the global automotive sensors market. This was primarily due to the robust presence of extensive manufacturing hubs, technological advancements, and supportive government policies promoting automotive innovation in countries such as China, Japan, South Korea, India, and Rest-of-Asia-Pacific.
Asia-Pacific nations, particularly China, have been leading in automotive sensor production. Their expertise in manufacturing and economies of scale have enabled them to lead the manufacturing of a diverse range of automotive sensors. Continuous innovation in sensor technology is a key factor. Asian countries, with their strong R&D focus, have been at the forefront of developing more efficient and effective sensor technologies. Substantial government incentives, subsidies, and regulations supporting the adoption of automotive sensors have played a significant role in propelling the market in this region.
The key players operating in the global automotive sensors market include Continental AG, Robert Bosch GmbH, TE Connectivity, Sensata Technologies, Inc., DENSO CORPORATION., BorgWarner Inc., ZF Friedrichshafen AG, Infineon Technologies AG, STMicroelectronics, HELLA GmbH & Co. KGaA, NXP Semiconductors, Analog Devices, Inc., Melexis, CTS Corporation and Allegro MicroSystems LLC, among others. These companies are focusing on strategic partnerships, collaborations, and acquisitions to enhance their product offerings and expand their market presence.
Market Introduction
The global automotive sensors market is at the forefront of technological advancement, which is reshaping the landscape of modern vehicles from conventional vehicles to automated vehicles. Significant progress in sensor technology enhanced automotive efficiency, safety, and comfort. From collision avoidance systems to adaptive cruise control, vehicle sensors play a crucial role in enhancing driver assistance features and paving the path for future autonomous vehicles.
Additionally, the rapidly growing demand for electric vehicles has emerged as a necessity for advanced sensors to monitor battery health and safety. Furthermore, emerging Internet of Things (IoT) and connected car economy sensors are increasingly integrated to provide real-time data for predictive maintenance and thereby enhance the personalized driving experience.
Industrial Impact
The global automotive sensors market's industrial impact extends across automotive manufacturing, technology development, and sustainable mobility. Advancements in automotive sensor technology drive innovation and foster the development of safer and more efficient vehicles. This spurs collaborations between automakers and component suppliers, elevating manufacturing standards and pushing R&D boundaries. Additionally, it fuels job creation in specialized engineering and production sectors, supporting the broader automotive sensor ecosystem. Moreover, the emphasis on eco-friendly and efficient sensor solutions aligns with global sustainability goals, influencing broader industrial practices and promoting greener automotive technologies.
Powertrain Segment to Dominate the Global Automotive Sensors Market (by Application)
Leading sensor manufacturers are actively engaged in developing a wide array of sensors capable of measuring critical parameters such as temperature, pressure, position, and speed across various vehicle applications, including powertrain, chassis, body, safety, and exhaust systems. The dominance of the powertrain segment in the global automotive sensor market is primarily attributed to the growing emphasis on achieving fuel efficiency and reducing emissions in vehicles.
Governments worldwide, particularly in regions such as North America, Europe, and Asia-Pacific, are enacting stringent laws and regulations to address environmental pollution concerns, prompting original equipment manufacturers (OEMs) to intensify their efforts toward technological advancements.
Conventional Vehicles to Dominate the Global Automotive Sensors Market (by Vehicle Type)
Conventional vehicles make up a significantly larger portion of the overall automotive market compared to other vehicles. This sheer volume contributes to a larger demand for automotive sensors in the conventional vehicle segment. Consumer interest in and adoption of conventional electric vehicles has been stronger than that of other vehicles.
Factors such as cost savings, environmental consciousness, and government incentives have driven this demand. The focus on developing advanced automotive sensors has primarily been directed toward conventional vehicles due to their higher market share. Manufacturers often prioritize R&D efforts on conventional EVs to improve efficiency, range, and performance. All this is expected to drive the global automotive sensors market during the forecast period 2023-2033.
Temperature Sensor Expected to Showcase Considerable Growth in the Global Automotive Sensors Market (by Sensor Type)
Temperature sensors play a pivotal role in the global automotive sensors market (by sensor type), particularly in modern vehicles equipped with sophisticated electronic systems. These sensors are crucial for monitoring and regulating temperature levels within various vehicle components, including the engine, transmission, exhaust system, and battery packs in electric vehicles (EVs).
With the increasing demand for higher fuel efficiency, improved performance, and enhanced safety standards, the significance of temperature sensors has surged. Moreover, advancements in temperature sensing technology, such as the development of more accurate and durable sensors capable of withstanding harsh automotive environments, continue to drive innovation in the market, ensuring vehicles operate at optimal temperatures for maximum efficiency and longevity.
Micro-Electromechanical Systems (MEMS) to be the Fastest Growing in the Global Automotive Sensors Market (by Technology)
Micro-electromechanical systems (MEMS) offer unparalleled precision and versatility in monitoring various parameters crucial for vehicle performance and safety. MEMS sensors are integrated into vehicles for functions such as tire pressure monitoring, inertial measurement, and airbag deployment systems.
Their miniature size and low power consumption make them ideal for embedding within automotive systems without compromising vehicle design or functionality. With the automotive industry rapidly advancing in autonomous driving and smart vehicle technologies, the demand for MEMS sensors is poised to surge further, driving continuous innovation and advancements in sensor design and performance.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 304 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value (USD) in 2023 | $26.06 Billion |
| Forecasted Market Value (USD) by 2033 | $53.16 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Market Dynamics Overview
Market Drivers
- Growing Demand for Premium Vehicles Owing to Inclination of Consumers toward Comfort and Luxury
- Stringent Government Regulations Regarding Vehicle Safety
- Growing Consumer Awareness and Demand for Safety Features
Construction Industry Trends: Current and Future
- Integration of Advanced Mobility Solutions
- Changing User Preferences toward Electric Vehicles
Market Challenges
- Safety and Reliability Issue with the Automotive Sensor
- Complexity of Incorporating Multiple Sensors into Vehicles
Market Opportunities
- Sensor Platforms, Sensor Fusion, and Multi-Purpose Sensors
- Rising Demand for Automotive Aftermarket Services
Company Profiles
- Continental AG
- Robert Bosch GmbH
- TE Connectivity
- Sensata Technologies, Inc.
- DENSO CORPORATION
- BorgWarner Inc.
- ZF Friedrichshafen AG
- Infineon Technologies AG
- STMicroelectronics
- HELLA GmbH & Co. KGaA
- NXP Semiconductors
- Analog Devices, Inc.
- Melexis
- CTS Corporation
- Allegro MicroSystems, LLC
Application
Automotive Sensors Market (by Application)
- Application
- Powertrain
- Chassis
- Body
- Safety and Control
- Exhaust Systems
Automotive Sensors Market (by Vehicle Type)
- Conventional Vehicles
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy-Duty Trucks
- Heavy-Duty Buses
- Electric Vehicles
- Passenger Vehicles
- Commercial Vehicles
Products
Automotive Sensors Market (by Sensor Type)
- Temperature Sensor
- Pressure Sensor
- Position Sensor
- Speed Sensor
- Level Sensor
- Inertial Sensor
- Gas Sensor
- Oxygen Sensor
- Nitrogen Oxide Sensor
- Carbon Dioxide Sensor
- Carbon Monoxide Sensor
- Proximity Sensor
- Flow Sensor
- Knock Sensor
- Force Sensor
- Torque Sensor
- Humidity Sensor
Automotive Sensors Market (by Technology)
- Micro-Electromechanical Systems (MEMS)
- Non-MEMS
Automotive Sensors Market (by Point of Sale)
- OEM
- Aftermarket
Aftermarket (by Vehicle Type)
- Conventional Vehicles
- Electric Vehicles
Aftermarket (by Application)
- Powertrain
- Chassis
- Body
- Safety and Control
- Exhaust Systems
For more information about this report visit https://www.researchandmarkets.com/r/mpruoa
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