Automotive Sensors Market Introduction
In the past few years, the automotive sensors have witnessed increased popularity with the emergence of autonomous and electric vehicles. According to industry experts, the automotive sensors market is anticipated to witness over 2 times and 4 times growth in terms of sales volume and value respectively during the forecast period. This is primarily attributed to the expanding integration of high value sensing modules such as LiDAR, imaging, and RADAR. At present, the automotive sensors market groups MEMS and classic active sensors such as pressure, chemical, tire pressure monitoring systems (TPMS), magnetic, inertial, imaging, ultrasonic, RADAR and LiDAR. Currently, the automotive industry is going through one of the fastest-changing eras in its evolution ever. Automotive sensors manufacturers and providers are engaged in a race where they need to be ready for the golden age of the industry.
Introduction of stringent government regulation, rise in uptake of automation technologies and electrification in automotive manufacturing, increase in the production of vehicle production across the globe, and increasing awareness and concerns among consumers regarding safety and comfort are some of the major factors that are anticipated to expand the overall automotive sensors market size during the forecast period. Furthermore, emerging trend and development of autonomous vehicle and increasing popularity of ADAS technologies in the automotive industry is projected to create massive revenue opportunities for prominent players providing automotive sensors. However, lack of awareness and penetration of semi-automated vehicles especially in emerging markets along with lack of standardization in the fabrication process for MEMs are anticipated to have an adverse effect on the overall automotive sensors market growth.
The automotive sensors market can be segmented into sensor type, vehicle type, application, and region.
Based on sensor type, the automotive sensors market is segmented into image sensors, inertial sensors, NOX sensors, oxygen sensors, position sensors, pressure sensors, speed sensors, temperature sensors, and other sensors. By vehicle type, the automotive sensors market is bifurcated into HCV, LCV, and passenger car. By application, the market is segmented into body electronics, chassis, exhaust, powertrain, safety and control, telematics, and others. Region wise, the market is analyzed across six major geographies such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and Middle East & Africa (MEA).
Automotive Sensors Market Competitive Landscape
Key players in the automotive sensors industry are inclined towards spending a substantial amount on innovation and promotional activities to introduce enhanced automotive sensors and outperform competitors. Additionally, prominent players in the automotive sensors market are inclined towards entering into a strategic agreement and collaboration with leading players, online portals and information providers to strengthen their market expertise and capabilities. Prominent players identified in the automotive sensors market are Allegro Microsystems, LLC, Analog Devices, Inc., Autoliv Inc., Continental AG, CTS Corporation, Delphi Automotive PLC, Denso Corporation, ELMOS Semiconductor AG, Infineon Technologies AG, NXP Semiconductors N.V., Robert Bosch GmbH, Sensata Technologies, Inc., STMicroelectronics N.V., TE Connectivity Ltd., and ZF Friedrichshafen AG among others.
Major Regions/Countries include:
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
This research report on automotive sensors market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.