The global automotive sensors market size was estimated to be US$ 29 Billion in 2022 and is expected to reach US$ 75 Billion by 2032 at a CAGR of 9.9%.
Expansion of automotive industry across emerging markets, increased investment in development of advanced automotive electronics, focused research & development towards development of electric and autonomous vehicles and stringent environment protection regulations are the key factors dynamically shaping the growth of the global automotive sensors market. The automotive industry has witnessed rapid advancement in onboard electronic technology to enhance safety and convenience of occupants.
Automotive sensors play a vital role in monitoring and controlling an automotive. Automotive sensors help in monitoring the system parameters and communicate with an onboard controller to control and maintain the efficacy of vehicle operations. Emergence and adoption of advanced driver assistance system (ADAS) has fueled the growth of automotive sensors during past decade.
The automotive industry has witnessed strong growth during past decade owing to increased demand from emerging markets fueled by rising disposable income globally. This has intensified competition in the automotive industry, thereby driving the global automotive sensor market. Additionally, the demand for automotive sensors is anticipated to witness prominent growth owing to increased investment in Internet of Things, vehicle telematics, and development of fully autonomous vehicles.
Deployment of commercial fleets with improved telematics is another factor driving the growth of automotive sensors market. However, the automotive industry is witnessing marginal growth in year-on-year sales of vehicles. Additionally, due to disruption in global automotive supply chain amidst the lockdown mandated by government authorities across the globe to prevent the spread of COVID-19, the automotive sensors market is witnessing slack in demand.
Asia Pacific contributed a dominating share to the global automotive sensors market in 2019 and is anticipated to be the fastest growing segment during the forecast period owing to strong demand from expanding automotive industry across major countries. The Asia Pacific automotive sensor market is anticipated to witness prominent shift in coming years with leading manufacturers focusing towards diversifying their supply chain in an attempt to achieve agility in supply chain. North America contributed a prominent share to the global automotive sensor market and is anticipated to witness steady growth in coming years due to disruption in automotive manufacturing amidst the COVID-19.
Automotive Sensors Market Share Analysis, by Geography (2022)
The report titled “Automotive Sensors Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is the historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global automotive sensors market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global automotive sensors market is segmented on the basis of type, vehicle type, application, sales channel, and geography. Based on type, the global automotive sensors market is segmented into temperature sensors, pressure sensors, position sensors, oxygen sensors, nitrogen oxide sensors, speed sensors, inertial sensors (accelerometers, and gyroscopes), image sensors (CMOS, CCD, and others), lidar, radar, ultrasonic sensors, and others. Based on vehicle type, the global automotive sensors market is segmented into passenger vehicle and commercial vehicle. The commercial vehicles are further sub-segmented into light commercial vehicles and heavy commercial vehicles. Based on sales channel, the global automotive sensors market is segmented into original equipment manufacturer (OEM) and aftermarket. Based on applications, the global automotive sensors market is segmented into powertrain, chassis, exhaust, safety & control, body electronics, telematics, and others. Based on geography, the global automotive sensors market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on automotive sensors. Further, market share of prominent companies in the global automotive sensors market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the automotive sensors companies.
The global automotive sensors market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the automotive sensors business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global automotive sensors market.
Major players active in the global automotive sensors market include Allegro MicroSystems, LLC, Analog Devices, Inc., Aptiv PLC, Continental AG, CTS Corporation, DENSO Corporation, Elmos Semiconductor AG, Infineon Technologies AG, Innoviz Technologies Ltd., NXP Semiconductors N.V., Quanergy LiDAR, Robert Bosch GmbH, Sensata Technologies, STMicroelectronics, TE Connectivity, Velodyne Lidar, and ZF Friedrichshafen AG.
Global Automotive Sensors Market Segmentation:
By Type
By Vehicle Type
By Application
By Sales Channel
The automotive sensors market size is expected to reach US$ 75 Billion by 2032
The automotive sensors market is expected grow at a CAGR of 9.9% from 2023 to 2032.
The demand for automotive sensors is anticipated to witness prominent growth owing to increased investment in Internet of Things, vehicle telematics, and development of fully autonomous vehicles. Deployment of commercial fleets with improved telematics is another factor driving the growth of automotive sensors market.
The automotive sensors market size was estimated to be US$ 29 Billion in 2022.
Allegro MicroSystems, LLC, Analog Devices, Inc., Aptiv PLC are the top 5 Automotive Sensors manufacturers.
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