The growing need for comfort, safety, and innovative technologies drives the market growth.
The European Automotive Sensors (CAGR) market is expanding because Automobile manufacturers are pushing to replace optical systems or potentiometers that rely on conventional position-sensing methods with non-contact 3D magnetic sensors. These sensors preserve space, guard against contamination and wear, and guarantee accurate readings in hot conditions. Manufacturers can use 3D magnetic sensing to optimize form factors across the vehicle, including position sensors for the moving parts of the gearbox, pedals, and gear shifters.
For example, 3D gesture sensing is being developed by suppliers like STMicroelectronics and Elmos to enhance driver concentration and remove the need for manual control of features like infotainment and lighting in cars. Therefore, the increased use of cutting-edge technology is a trend that is helping the market grow.
An automobile that runs on fuels other than regular petroleum fuels, such as diesel or gasoline, is called an alternative fuel vehicle. A car that runs on alternative fuels such as electric, hybrid, or solar is referred to as such because it uses technology to power an engine without the need for petroleum. As alternative fuels and cars become more widely used, consumer gasoline prices and emissions will go down, and the country's energy security will increase.
The need for car sensors will increase significantly as alternative fuel vehicles become more common. The scope of electrification has expanded with the introduction of new automobile systems and technologies. The installation of ADAS systems has led to an advancement in the use of sensors in cars.
In the automobile industry, vehicle electrification has increased promisingly, particularly in exhaust systems, safety, powertrain, transmission, and temperature management. Over time, there has been a rise in the installation of advanced safety features in passenger cars, such as airbags, traction control, electronic brake distribution (EBD), and anti-lock braking systems (ABS). This trend can be attributed to various factors, including changing consumer preferences for enhanced comfort and safety and rising economic status. Consequently, there has been a rise in the need for sensors in the passenger car industry. Thus, driving the Automotive Sensors market revenue.
