Automotive Sensors Market is predicted to reach USD 39.6 billion at a CAGR of 9.20% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Global Automotive Sensors Market” that contains information from 2022 to 2030. The Automotive Sensors Market is estimated to register a CAGR of 9.20% during the forecast period of 2022 to 2030.


MRFR recognizes the following companies as the key players in the Automotive Sensors Market— Bosch Sensortec GmbH, Analog Technologies, Avago Technologies, Hella KGaA Hueck & Co., TRW Automotive, Continental AG, CTS Corporation, Delphi Automotive, Denso Corporation, and Infineon Technologies.


Market Highlights


The Automotive Sensors Market is accounted to register a CAGR of 9.20% during the forecast period and is estimated to reach USD 39.6 Billion by 2032.


The Automotive Sensors Market refers to the global industry involved in the manufacturing, distribution, and utilization of sensors specifically designed for use in vehicles. These sensors play a crucial role in modern automobiles by gathering data from various components and systems within the vehicle, converting this data into electrical signals, and transmitting it to the vehicle's electronic control units (ECUs) for analysis and decision-making.


The automotive sensors market has witnessed significant growth due to advancements in vehicle technology, increasing demand for safety features, environmental regulations, and the rise of electric and autonomous vehicles. As vehicles become more connected and automated, the importance of sensors for collecting real-time data and enabling intelligent decision-making continues to grow.


Segment Analysis


The Automotive Sensors Market has been segmented based on type and technology.


On the basis of type, the market is segmented into Pressure, Temperature, Position, Motion and Optical. The position sensors segment held the majority share in 2021 contribution to around ~20.3% in respect to the Automotive Sensors Market revenue. This is primarily owing to the rising prevalence of autonomous cars and autopilot applications across the globe.


Based on technology, the market has been segmented into Micro-Electro-Mechanical Systems (MEMS), Non-Electro-Mechanical Systems (NON-MEMS) and Nano-Electro-Mechanical Systems. The Micro-electro-mechanical system dominated the market. This is due to the increasing preference for MEMS devices such as airbags, vehicle dynamics control (VDC), roll over detection systems, and tire pressure monitoring (TPMS) for passenger safety in an automobile.


Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Sensor Market Research Report


Regional Analysis


The Automotive Sensors Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Automotive Sensors Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Automotive Sensors Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Automotive Sensors Market comprises of Middle East, Africa, and Latin America.


North America has a well-established automotive industry and a high demand for advanced vehicle technologies. The United States, in particular, has a strong focus on autonomous vehicles, electric vehicles (EVs), and advanced driver assistance systems (ADAS). Government regulations and consumer awareness about vehicle safety and emissions drive the demand for various sensor types.


Europe is a hub for automotive innovation and engineering, with countries like Germany, France, and Italy being major contributors to the market. European automakers have been pioneers in integrating safety features, which has led to a strong demand for sensors that support these functionalities.


The Asia-Pacific region is a significant player in the global automotive market. The region's expanding middle class, rapid urbanization, and increased consumer spending have driven automotive sales.


Furthermore, the rest of the world's Automotive Sensors Market is divided into the Middle East, Africa, and Latin America.  Latin America's automotive market is influenced by economic conditions, government policies, and consumer preferences. While the region has seen growth in vehicle production and sales, it might lag in adopting advanced sensor technologies compared to other regions due to economic constraints.


Key Findings of the Study



  • The Automotive Sensors Market is expected to reach USD 39.6 Billion by 2030, at a CAGR of 9.20% during the forecast period.

  • The Asia-Pacific region is a significant player in the global automotive market. The region's expanding middle class, rapid urbanization, and increased consumer spending have driven automotive sales.

  • Based on type, the market is segmented intoPosition holding the largest market in 2022.

  • Bosch Sensortec GmbH, Analog Technologies, Avago Technologies, Hella KGaA Hueck & Co., TRW Automotive, Continental AG, CTS Corporation, Delphi Automotive, Denso Corporation, and Infineon Technologies.


 

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Pages 88
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