Westford,USA, July 23, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the increasing demand for safety and security features in automobiles has emerged as the primary driving force behind the expansion of the automotive sensor market. In response to rising concerns over road safety and the need to reduce pollution, governments worldwide have taken a proactive approach to prioritize vehicle safety.
Browse in-depth TOC on the "Automotive Sensor Market"
- Pages - 265
- Tables - 62
- Figures – 75
The automotive sensormarket has experienced remarkable growth, driven by a surge in demand from emerging economies and the rise in global disposable income. As more countries share economic development and higher living standards, the appetite for automobiles has increased substantially. This upswing in demand has not only led to a surge in vehicle production. Still, it has also fueled the need for advanced automotive technologies to meet consumer expectations and regulatory requirements.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 11.11 Billion |
| 2030 Value Projection | USD 18.22 Billion |
| CAGR | 6.38% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Automotive Sensor Market
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Aptiv PLC
- Infineon Technologies AG
- Texas Instruments Incorporated
- TE Connectivity Ltd.
- STMicroelectronics NV
- NXP Semiconductors NV
- Analog Devices Inc.
- Sensata Technologies Holding plc
- Panasonic Corporation
- Delphi Technologies PLC
- ZF Friedrichshafen AG
- Murata Manufacturing Co. Ltd.
- Valeo SA
- Autoliv Inc.
- Magna International Inc.
- Mitsubishi Electric Corporation
- Hella GmbH & Co. KGaA
MEMS Segment is Expected to Grow in the Market Due totheir Exceptional Performance
The MEMSis expected to lead the global automotive sensor market. These miniature sensors have gained prominence due to their exceptional performance, which often surpasses that of larger macroscale sensors. MEMS sensors offer precise and accurate measurements, making them ideal for critical applications in the automotive industry, such as vehicle stability control, airbag deployment, and tire pressure monitoring systems.
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The markets inChina have emerged as the leading global shareholder in the market, commanding a significant portion of the market's growth and development. China has become a powerhouse in the global automotive sensor market with its dynamic economy and vast population.
Conventional AutomobilesSegment is Expected to Dominate the Market Due to the Widespread Availability of Conventional Fuels
The global automotive sensor market continues to be primarily dominated by conventional automobiles segment propelled by internal combustion engines (ICEs). For over a century, ICEs have served as the backbone of the automotive industry, providing the primary power source for cars, trucks, and other vehicles. The well-established infrastructure and widespread availability of conventional fuels have contributed to the sustained reliance on ICEs as the primary propulsion system for automobiles.
Regional markets inthe Asia-Pacific region are projected to hold a significant market share in terms of revenue in the automotive sensor market. One of the key factors contributing to this dominance is the notable increase in vehicle sales across the region. As the demand for automobiles rises, there is a corresponding surge in the need for vehicle sensors to ensure enhanced safety, efficiency, and performance.
A comprehensive analysis of the major players in the automotive sensormarket has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Automotive Sensor Market
- Continental AG recently made an exciting announcement regarding its advancements in electromobility. The company revealed its modules and sensors specifically tailored for electromobility applications. Notably, Continental showcased its cutting-edge Advanced Driver Assistance Systems (ADAS) integrated into the "CV3" System on Chip (SoC) family, which incorporates artificial intelligence (AI) technology from Ambarella, a semiconductor startup. This integration of AI and ADAS is expected to enhance vehicle safety and performance, revolutionizing the driving experience for electric vehicles.
- Infineon Technologies AG introduced the latest addition to its existing sensor series for automotive applications, the XENSIV TLE4971 family, in 2022. This new range of devices offers precise magnetic current sensing capabilities, relying on proprietary temperature and stress compensation mechanisms.
Key Questions Answered in Automotive Sensor Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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