Pune, India, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The global automotive sensors market was estimated to value USD 25.1 billion in 2021 and is projected to grow at a CAGR of 10.7 % during the forecast period as per the recent study report published by Quince Market Insights. Automotive sensors measure, detect, and transmit the information, which assists in analyzing the performance of vehicles. Sensors detect changes or events in the environment and offer a corresponding output.
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Sensors sense physical input as a motion, heat, light, pressure, moisture, or any other entity, and reply by creating an output on a display of the data in electronic form for the required processing. Sensors use integrated circuit (IC) fabrication technology made on silicon wafers. It controls and monitors the physical, chemical, and process changes of an automobile.
Sensors are used in the automotive industry for minimizing the consumption of fuel and reduce onboard weight of a vehicle. These sensors are smart sensors, which can be used to control the pressure of oil in a vehicle, maintain coolant levels, and process temperature.
At present, there is an upsurge in demand for intelligent sensors in vehicles, which permits manufacturers to give drivers advanced reliability, security & safety, and information & entertainment. Manufacturers of electronic devices are including more sensors in their devices to add extra features and participate with other players in the market.
In addition, the high competition in the global electronic market, stable upgrades in electronic devices, and upsurge in automation in the automotive industry through electronic devices are expected to propel the development of the automotive sensor market in the years to come.
On the other hand, the high cost of automotive sensors development is anticipated to impede the market development. Furthermore, technical progressions in the automobile industry and development in the automotive sector market are predictable to offer profitable opportunities for the automotive sensor market across the globe.
Global Automotive Sensors Market
By Type:
Based on type, the market is classified into temperature sensors, oxygen sensors, nitrogen oxide sensors, inertial sensors, image sensors, motion sensors, seat occupant sensors, pressure sensors, seat belt tension sensors, and others.
Furthermore, seat occupant sensors are sub-segmented into seat belt reminder sensors, presence detection systems, weight detection systems, piezoelectric sensors, hall effect sensors. The presence detection system segment is further sub-divided into inductive sensors, photoelectric sensors, capacitive sensors, ultrasonic sensors.
Temperature segment is estimated to be the fastest growing segment during the forecast period. The segment growth can be because temperature sensors can easily and accurately monitor the temperature of numerous automotive systems. They are required to monitor transmission fluid temperature, exhaust gas temperature, fuel temperature, coolant water temperature, engine oil temperature, ensure reliable vehicle engine operation above its strength.
By Vehicle Type:
Based on vehicle type, the automotive sensors market is segmented into vehicle types, the market is classified into passenger cars, light commercial vehicles (LCVS), heavy commercial vehicles (HCVS), sports cars, and others.
The passenger cars are further sub-segmented into hatchback, sedan, SUV, and MUV. The light commercial vehicles (LCVS) are further sub-divided into pickup trucks, light trucks, others. Additionally, the heavy commercial vehicles in the vehicle type are further classified into heavy trucks, buses, and coaches.
The light commercial vehicles (LCVS) are expected to be the fastest-growing segment during the forecast period. The segment growth can be on account of the acceptance of advanced driver assistance system (ADAS) technology by end users, and the advent of autonomous cars.
By Application
By application, the market is segmented into powertrain, chassis, exhaust, safety & control, body electronics, telematics, and others. Among all, the safety control segment is anticipated to be the fastest-growing segment during the forecast period. The segment growth can be attributed to improved adoption of features such as rollover detection, anti-lock brake, and electronic stability control.
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By Region:
North America, Middle East, and Africa, Europe, Asia Pacific, and South America, are the major region in the automotive sensors market. North America is expected to be the fastest growing segment during the forecast period.
The factors attributed to the growth of the market include a boost in the sale of electric vehicles. In addition, the acceptance of advanced driver assistance system (ADAS) features from end users are expected to drive the demand for automotive sensors in North America during the forecast period.
Key Developments in the Market
- June 2021, Melexis, (Belgium) a global microelectronics engineering company, launched new non-contact position sensors to its range to complement the existing MLX90364/5/6/7 products.
- October 2020, Continental AG, (Germany), an automotive component manufacturer, capitalized in sensor pioneer AEye. Both companies would jointly develop high-performance long-range Lidar sensors, which will be mainly used for established and fully automated driving of commercial vehicles and passenger cars.
COVID-19 Impact on the global market
The impact of COVID-19 on global market, resulting in the closure of numerous manufacturing plants, disruptions in the international trade barriers, and supply chain. Consumer demand has lowered, causing numerous automakers to decrease their manufacturing capacity for new vehicles, restricting the market opportunities for suppliers.
On the other hand, most of the automotive original equipment manufacturers (OEMs) intend to restructure their manufacturing facilities and surge their investments in automotive sensors, autonomous technologies in order to gain a competitive advantage in the market.
Some Major Findings of the Global Automotive Sensors Market Report Include:
- Major global market trend & forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth global automotive sensors market analysis by the segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global automotive sensors market, which include Continental AG (Germany), Robert Bosch (Germany), Delphi Automotive (U.K.), Infineon Technologies (Germany), Sensata Technologies (U.S.), Denso Corporation (Japan), Allegro Microsystems (U.S.), Elmos Semiconductor (Germany), Analog Devices (U.S.), and CTS Corporation (U.S.)
- Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global automotive sensors market
- Impact of COVID-19 on the global automotive sensors market
Browse key industry insights from the report, “Automotive Sensors Market, by Type (Temperature Sensors, Oxygen Sensors, Nitrogen Oxide Sensors, Inertial Sensors, Image Sensors, Motion Sensors, Seat Occupant Sensors, Pressure Sensor, Seat Belt Tension Sensor, Others), Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCVS), Heavy Commercial Vehicles (HCVS), Sports Car, Others), Application (Powertrain, Chassis, Exhaust, Safety & Control, Body Electronics, Telematics, Others), Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) — 2021–2030”, in-depth analysis along with the table of contents (ToC).
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