New York, Dec. 06, 2022 (GLOBE NEWSWIRE) -- As per the research report “Automotive Sensor Market” published by Reports Insights, the market is projected to surpass USD 67.3 billion by the year 2030 from the value of USD 40.4 billion in 2022.
Automotive Sensors are the devices that monitor crucial aspects of the vehicle such as the engine, coolant system, temperature, and oil pressure, and transmit that data to the electronic control unit (ECU). The ECU makes certain adjustments as per the requirements of the situations based on the information received from the sensors. Additionally, automotive sensors are also employed for the facilitation of advanced safety features such as forward-collision warning (FCW), electronic stability controls, adaptive cruise control, and others.
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The high demand for technology-integrated vehicles in terms of aspects such as Anti-Lock Braking Systems (ABS), Advanced Driver Assistance Systems (ADAS), and others drives the market growth. Additionally, the rising awareness levels among consumers for enhanced safety features such as stability control, automatic emergency braking (AEB), and accident avoidance systems in passenger vehicles also result in high demand for sensors. Thus, the growing automotive industry owing to the technology integration and rising safety standards accelerate the market growth statistics during the forecast period.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 67.3 Billion |
| Study Timeline | 2018-2030 |
| CAGR (2022-2030) | 6.6% |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Report Coverage | Total Revenue Forecast, Company Ranking and Market Share, Regional Competitive Landscape, Growth Factors, Business Strategies, and more |
| By Type | Pressure Sensors, Speed Sensors, Temperature Sensors, Gas Sensors, and Motion Sensors |
| By Application | Powertrain, Safety & Security, Chassis, Body Electronics, and Telematics |
| By Sales Channel | Original Equipment Manufacturers, Independent Aftermarket, Original Equipment Supplier Spare Parts |
| Major Players | Robert Bosch, Continental AG, DENSO Corporation, AUTOLIV INC, Delphi Automotive Company, Valeo, Sensata Technologies, STMicroelectronics N.V, NXP Semiconductor, Infineon Technologies AG |
| By Geography | Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru] |
Key Market Highlights
- The global automotive sensor market is estimated to witness CAGR of 6.6% during the forecast period (2022-2030), reaching USD 67.3 billion by 2030.
- Globally, the automotive sensor comprises five types: pressure sensors, speed sensors, temperature sensors, gas sensors, and motion sensors.
- In the context of the application, the market is categorized into powertrain, safety & security, chassis, body electronics, and telematics.
- Based on the sales channel, the market share is segmented into three groups: original equipment manufacturers, independent aftermarket, and original equipment supplier spare parts.
- The market is geographically categorized into five regions: Europe, North America, the Asia-Pacific, South America, and the Middle East and Africa.
- Asia-Pacific and North America are estimated to support industry growth during the forecast period in terms of large production and consumption of the sensors in emerging automotive demand.
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Automotive Sensor Market Segmentation In details:
Based on type, the speed sensors segment is expected to contribute a substantial market share during the projected period. The high demand for performance vehicles among consumers has resulted in the improved production of speed sensors. These sensors effectively monitor the speeds of engine crankshafts and the rotational speeds of the wheels. Such sensors aid in determining any irregularity within such crucial components.
Based on the application, the powertrain is projected to account for a significant contribution to the automotive sensor market share during the forecast period. The major dependence on the powertrain of the vehicle for generation and transmission of the power to the components has resulted in the large integration of sensors into the engine. Thus, the automotive sensors connected to the powertrain are completely responsible for engine management and transmission control.
Based on sales channel, the original equipment manufacturers segment is anticipated to contribute the largest share to the market growth during the forecast period. The complete sensor allocation within the vehicle chassis is the responsibility of original equipment manufacturers that integrate required sensors during the manufacturing of vehicles. Thus, the manufacturers integrate essential sensors related to the major functioning elements in terms of the engine, wheels, braking, and others during the assembly of the vehicle chassis.
Based on region, Asia Pacific is projected to support the market growth in terms of volume. The low-cost manufacturing facilities and easy availability of specialized labor at affordable costs are anticipated to create lucrative opportunities for the growth of automotive sensor market statistics in the Asia Pacific region. Furthermore, the scope of improvement in sensors is also expected to be explored in developing countries such as China and India which are abundant in terms of capital and technical professionals.
Recent Developments
- In January 2020, the German Multinational company, Bosch, introduced the world’s first long-range LiDAR system that is ready to enter the production process. This release is anticipated to boost the advancements related to autonomous driving. The system is created to cover both short and long ranges with the flexibility of being combined with existing camera and radar setups.
- In July 2018, a US-based firm named Curtis-Wright released a new rotary position sensor called “WM-H10”. It is a Hall-effect sensor that gives two electrically-isolated and independent outputs. This sensor is operated by the shaft with two independent, electrically-isolated outputs and is intended for hostile on/off-highway applications.
- In October 2021, the German semiconductor manufacturer, Infineon Technologies AG, declared the release of an automotive current sensor named XENSIV TLE4972. This coreless current sensor is based on the proven Hall technology of Infineon which is used for constant and accurate current measurements.
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List of Major Automotive Sensor Market Players
Also, the market research report evaluates the recent market trends and analyses to portray the strategies adopted by competitors, collaborations, and product launches. Thus, the evaluation provides a complete assessment of the major players functioning in the market to elaborate on recent market circumstances—
• Robert Bosch
• Continental AG
• DENSO Corporation
• AUTOLIV INC
• Valeo
• Sensata Technologies
• Delphi Automotive Company
• STMicroelectronics N.V
• NXP Semiconductor
• Infineon Technologies AG
Global Market Segmentation:
By Type
- Pressure Sensors
- Speed Sensors
- Temperature Sensors
- Gas Sensors
- Motion Sensors
By Application
- Powertrain
- Safety & Security
- Chassis
- Body Electronics
- Telematics
By Sales Channel
- Original Equipment Manufacturers
- Independent Aftermarket
- Original Equipment Supplier Spare Parts
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