Global automotive sensors market was valued at around USD 22.98 billion in 2018, and is expected to reach approximately USD 40.75 billion in 2025, at a CAGR slightly above 6.82% between 2018 and 2025.
Intelligent sensors that can be used to control chemical or physical quantity like position or temperature are called automobile sensor. These sensors offer data for control, response and adaptation of functions in a vehicle which increases its efficiency, safety and comfort.
The automotive sensors market will grow at a substantial rate in the projected period. Increase in vehicle safety, performance and passenger comfort along with numerous other advantages, the demand for automotive sensors will rise in the forecast period. Increase in the demand for automotive has propelled the requirement for sensors, thereby supporting the growth of automotive sensor market. With the advancement in technology, the demand for improved sensors is expected to grow for the autonomous vehicles. These sensors are far cheaper and reliable as compared to their older versions. Rising demand for better vehicle control, improved safety standards and pleasure of driving are some of the factors motivating people to purchase automobiles installed with sensors. Increased standard of living and rise in net disposable income of people have allowed middle class people to afford high end vehicles. Inclination towards safety standards like driver attention detection, seat belt alarm, active cruise control, airbags, tire pressure, auto emergency braking are expected to drive market growth in the long run. Moreover, stringent rules and regulations by the government on emission reduction, safety, driver assistance, fuel economy and onboard diagnosis systems are some of the factors propelling automotive sensors market growth in the forecast period. Furthermore, development in connected technologies is expected to increase demand for automotive sensors in the near future. However, price competitive market and lack of uniform fabrication process for MEMS is anticipated to hinder market growth.
The automotive sensors market is segmented into sensor type, vehicle type and application. The vehicle type is segmented into HCV, LCV and passenger car. Passenger car segment is expected to have a significant share in the automotive market. Cheap labor, improving infrastructure, surge in purchasing power along with the rising demand for safer drive, is anticipated to support market growth in the coming years.
Also, position sensor holds a significant share of the automotive sensors market. It is an electronic device that is used to measure position changes in relation to a reference position. The demand for position sensors is estimated to increase, owing to its use in clutch pedal position sensing, brake pedal position sensing, seat and headrest position, and accelerator pedal position. The use of automotive sensors in sunroof position, electric roof position, crash sensing, windscreen wiper position, gear shift position sensing and valve position sensing among others are also expected to drive market growth.
On the basis of region, Asia Pacific will hold a significant share, owing to the increasing population, rise in R&D investments, rise in the manufacturing of automotive are predicted to drive market growth in the anticipated period.
Renowned automotive sensors market players are Continental AG, Robert Bosch GmbH, Denso Corporation, Delphi Automotive PLC, Infineon Technologies AG, Allegro Microsystems, LLC, Sensata Technologies, Inc., Analog Devices, Inc., NXP Semiconductors N.V. and STMicroelectronics N.V. among others.
The report segments automotive sensors market as follows:
Global Automotive Sensors Market: Sensor Type Segment Analysis
Global Automotive Sensors Market: Vehicle Sensor Type Segment Analysis
Global Automotive Sensors Market: Application Segment Analysis
Global Automotive Sensors Market: Regional Segment Analysis