According to research, the automotive sensors market is expected to grow at a market value of nearly $44.2 Billion by 2026, at approximately 7% CAGR. Sensors are the crucial parts of the vehicle safety systems. Sensors are used in measuring or recording physical phenomena, detecting and consequently responding by transmitting information, affecting system control or initiating changes. In addition, automotive sensors are one of the integrated parts of the vehicle system and are usually designed to display vehicle performance information, detect, analyze within the internal and external environment of the vehicle.
The major factor spurring the market growth at a high rate due to stringent regulation of government which are mandatory the integration of technologies and devices to make sure the safety of passenger and driver while driving. Also, robust growth for the adoption of advanced driver assistance system (ADAS) in new vehicles is the major factor anticipated to grow the automotive sensors market. Furthermore, the use of automotive sensors plays a major role in controlling and monitoring physical processes if any changes occur in the automobiles. The high adoption for automotive sensors is projected to the changing approach of the people towards the safe driving. Moreover, the increasing market of hybrid cars resulted to the high demand for automotive sensors, as there are wide applications of these sensors such as hydrogen leak detection, motor speed, monitoring, position, and temperature control. However, the factor curbing the market growth is pricing pressure among key players. Therefore, innovation of new products and up gradation of existing sensors to fulfill the customers’ requirements is the opportunities to grow the market during the forecast period.
The market research study on “Automotive Sensors Market (Sensor Type: Pressure Sensor, Temperature Sensor, Speed Sensor, Position Sensor, O2 Sensor, NOX Sensor, Inertia Sensor, Image Sensor, Others; Vehicle Type: Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV); Application: Powertrain, Chassis, Exhaust, Safety & Control, Body Electronics, Telematics, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed insights on the global automotive sensors market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global autompotive sensors market, its type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global automotive sensors market size and volume, and segment markets by type, application, and geography along with the information on companies operating in the market. The automotive sensors market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America, and Middle East and Africa followed by major countries. Europe region is leading the automotive sensors market due to presence of high number of manufacturers. Also, strict norms for safety across Europe have forced the vendors of automotive industry to use advanced technology, which may showcase positive impact on the automotive sensor market. For each region, the market size and volume for different segments has been covered under the scope of report. The players profiled in the report Continental AG, Robert Bosch GmbH, Analog Devices, Inc., STMicroelectronics, Sensata Technologies, Inc., DENSO Corporation, Delphi Automotive PLC, Infineon Technologies AG, and among others.
The global automotive sensors market is segmented as below:
Market By Sensor Type
Market By Vehicle Type
Market By Application
Market By Geography