Companies such as Analog Devices Inc. (U.S.), Broadcom Limited (U.S.), Bosch Sensortech GmBH (Germany), Denso Corporation (Japan), GE Measurement & Control Solutions (U.S.), STMicroelectronics (Switzerland), are leading providers of the automotive sensors solution in the global market. On 04 January 2018, DENSO Corporation, one of the global leading automotive supplier went into partnership with FLOSFIA Inc. to develop a next-generation power semiconductor device. With this power semiconductor devices, the company is aiming to improve the efficiency of electrified vehicles power control units and reducing the energy loss, cost, size and weight of inverters used in electrified vehicles. These semiconductors have a wide bandgap and high electric breakdown field strength, that can easily withstand high voltage applications.
The miniaturization and rising disposable income of middle class population are factors that drive the market growth of automotive sensors. The companies are offering various types of automotive and commercial vehicle sensors which is designed to monitor the passenger compartment, the vehicle’s powertrain, emissions, speed and suspension and others. There are a numbers of application included in the automotive sensors such as measure position, exhaust temperature, angular rate, pressure, torque, flexible fuel composition, long-range distance, and ambient gas concentrations, engine oil quality, short-range distance, and others. These applications are widely used among companies as it provides the highest flexibility to meet automotive supply and quality requirements of the customers. In October 26, 2017, Cypress Semiconductor Corp announced to help Denso Corp to its latest automotive stereo vision sensor for Advanced Driver Assistance Systems to improve vehicle safety. With these secsors which uses image processing techniques to detect obstacles on road.
Segmentation of Car Sensors Market:
The global automotive sensors market is segmented into sensor type, technology, vehicle types, and region. The sensor type segment is sub-segmented into Pressure Sensors, Temperature Sensors, Speed Sensors, Position Sensors, O2 Sensors, NOx Sensors, Inertial Sensors, Image Sensors and others. The technology segment is sub-segmented into Micro-Electro-Mechanical Systems (MEMS), Nano-Electro-Mechanical Systems (NEMS). The vehicle types segment is sub-segmented into low end, medium end, high end, heavy vehicle, electrical vehicles and others. The market is spanned across regions including North America, Europe, Asia Pacific, and the rest of the world.
The global automotive sensors market is expected to grow at USD ~35 billion by the year 2023 at a CAGR of ~7%.
Global Automotive Sensors Market
Some of the prominent players in the global automotive sensors industry are Analog Devices Inc. (U.S.), Broadcom Limited (U.S.), Bosch Sensortech GmBH (Germany), Bourns Inc. (U.S.), Delphi Automotive LLP (U.K), Denso Corporation (Japan), GE Measurement & Control Solutions (U.S.), STMicroelectronics (Switzerland), Infineon Technologies AG (Germany), Continental AG (Germany), Micronas Semiconductor Inc. (Switzerland), Panasonic Corporation (Japan), Sensata Technologies (U.S.), TRW Automotive Inc. (U.S.), and Vishay Intertechnology, Inc. (U.S.) among others.
The global automotive sensors industry is studied for the Asia Pacific (China, Japan, and India), North America (the U.S., Mexico, and Canada), Europe (the U.K, Germany) and Rest of the World. Asia Pacific with countries such as China, Japan, and India, is one of the leading regions of the world in terms of market share. The automotive sensors market in this region has a huge demand due to the increase in purchasing power of the consumer, and growing population, which is further propelling the market growth to a large extent. The automotive sensors market in North America is expected to witness a rapid growth over the forthcoming period due to infrastructure development which is propelling the market growth of automotive sensors in the forecast years. Whereas, the European countries are emerging automotive sensor markets due to increasing demand for more efficient and safer vehicles and is expected to grow at the highest CAGR over the review period .
Frequently Asked Questions (FAQ) :
The rising disposable income levels are projected to stimulate the market.
Continental AG (Germany), Sensata Technologies (U.S.), Micronas Semiconductor Inc. (Switzerland), Infineon Technologies AG (Germany), and Panasonic Corporation (Japan) are inspiring the market.
A 7% CAGR is projected to offer favorable traction for the overall market development.
An income level of USD 35 billion is projected to motivate the market.
The presence of robust nations in the APAC region is estimated to cement the position of the market at the top.