Automotive Sensors Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030

Publish Date: 2021-02-15


The Automotive Sensors Market - Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

 

Automotive sensors have evolved from simple vehicle parameter monitoring units to advanced vehicle monitoring and control units. The automotive industry has witnessed rapid advancement in onboard technology to enhance safety and convenience of occupants. Automotive sensors help in monitoring the system parameters and communicates with an onboard controller to control and maintain the efficacy of vehicle operations. With emergence of advanced driver assistance system (ADAS), the automotive sensors have witnessed prominent technology update during the course of 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 resulted in intense competition in the automotive industry to develop automobiles with new safety and convenience features, thereby fueling the demand for automotive sensor. Additionally, the demand for automotive sensors is anticipated to witness prominent growth with increased investment in Internet of Things, vehicle telematics, and development of fully autonomous vehicles. Deployment of commercial fleets with improved telematics is another factor fueling the growth of automotive sensors market. Though, the automotive industry is witnessing marginal growth in year-on-year sales of vehicles, the demand for automotive sensors from aftermarket applications is anticipated to drive the growth of the global automotive sensors market during the forecast period.

 

Increasing deployment of multiple temperature sensors per automobile to fuel the growth of revenue generation and volume consumption of temperature sensors

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. The temperature sensors contributed a prominent share to the global automotive sensor market in terms of revenue and volume owing to deployment of multiple temperature sensors across an automobile. The growth of temperature sensors is primarily driven by strong demand from automotive aftermarket applications. The image sensors are anticipated to be the fastest growing automotive sensors during the forecast period owing to increasing demand from autonomous & semi-autonomous vehicles.

 

Increased demand for passenger vehicles to drive the growth of automotive sensors market

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. The passenger vehicles contributed for the largest share to the global automotive sensors market and is expected to witness prominent growth during the forecast period. Increased volume sales of passenger vehicle across the globe is anticipated to accelerate consumption of automotive sensors across the globe. The light commercial vehicle segment is anticipated to grow significantly during the forecast period.

 

Based on geography, the global automotive sensors market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific dominated the demand and consumption of automotive sensors in 2019 owing to strong presence of leading automotive manufacturers and automotive sensor manufactures across major countries. Increasing investment in research and development of advanced automotive components and government initiatives to promote electric vehicle manufacturing is anticipated to drive the growth of Asia Pacific automotive sensor market. North America contributed a prominent share to the global market and is anticipated to grow steadily during the forecast period.

 

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.

 

insightSLICE is a market intelligence and strategy consulting company. The company provides tailor-made and off the shelf market research studies. The prime focus of the company is on strategy consulting to provide end-to-end solutions. For more details please contact our research and consulting team at info@insightslice.com.

x
Accept Cookies