Automotive Sensors Market – By Type (Temperature, Pressure, Motion, Gas, and Inertial), By Application (Powertrain, Body Electronics, Vehicle Security Systems, and Telematics), By Vehicle Type (Motorcycles, Passenger Cars, and Commercial Vehicles), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Automotive Sensors Market size was valued at USD 18 billion in 2020 and it expected to reach USD 46.8 billion by 2030, register the CAGR of 10.0% during the forecast period. Automotive sensors are an integral part of a vehicle, which are designed to detect, analyze, record, transmit, and display performance information of the internal and external environment of the vehicle. It is mainly utilized to decrease the on-board weight of the vehicle, reduce fuel usage, and act in accordance with the government rules and regulations towards the passenger’s safety and security. Furthermore, according to the World Health Organization, in 2018, around 50 million people get injured and over 1.25 million people die in road accidents every year. Thus, the growing concerns related to the increasing incidence of road accidents have impelled governments in many countries to take initiatives to encourage safe driving. Due to that, in the U.S., key automakers have been instructed to install the automatic braking system in all vehicles by 2022, similarly, European Union Commission is planning to mandate the installation of the automatic emergency braking systems in all cars. Hence consumer anxiety over safety and vehicle security, coupled with increasing electrification in the automotive industry, further boosting the automotive sensors market to flourish positively.

Market Segmentation:

On the basis of type, the automotive sensors market is segmented into temperature, pressure, motion, gas, and inertial. On the basis of application, the market is divided into powertrain, body electronics, vehicle security systems, and telematics. On the basis of vehicle type, the market is categorized into motorcycles, passenger cars, and commercial vehicles. On the basis of region, the automotive sensors market is categorized into North America, Europe, Asia Pacific, and RoW.

Market Dynamics and Factors:

The automotive sensors market is growing to its rapid pace owing to its key benefits such as safety and vehicle security. According to the research, in November 2018, Robert Bosch GmbH (Germany) launched the High G-acceleration sensor, which is a MEMS (micro electro mechanical sensors system) sensor for improving deriving and passenger safety in motor vehicles. This sensor offers faster airbag deployment and greater flexibility to the user. Additionally, Key companies such as Google, Tesla Motors and Apple are focused on the research and development of driverless cars. The driverless car uses more than 8 different types of sensors namely image, proximity, LDS (laser distance sensor), bumper-mounted radar, gyroscope, and altimeters. Furthermore, various sensors such as radar, image, and laser are being introduced to increase consumer demand for driving safety and less emission in automobiles. However, the heavy cost associated with sensors would be a threat to the adoption of the systems and considered as one of the restraints for the automotive sensors market. The constant innovations and investments in research & development to meet the varying consumer preferences has led to improve sensing abilities at a much lower cost, is considered as an opportunity for automotive sensors market growth.

Geographic Analysis:

Asia Pacific is dominating the region across the world and estimated to continue its dominance for the upcoming years. In which China is estimated to the largest contributor for the automotive sensors market, the growth in this region is attributed to the growing demand for more fuel-efficient vehicles and the increasing purchasing power of the consumer. Furthermore, in January 2018, Denso Corporation (Japan) has launched the vision sensor, which further provides applications such as, detection of pedestrians at night, road signs, driving lanes, and other road users. Followed by Asia Pacific, Europe is the second-largest contributor across the world. European Union Commission is planning to mandate the installation of the automatic emergency braking systems in all cars for the safety of the consumers. North America is also expected to show consistent expansion in the global automotive sensors market. In 2017, the region accounted for a major revenue in the global automotive sensors market generated over USD 4,068.60 approximate.

Competitive Scenario:

The key players of the automotive sensors market are Avago Technologies, Delphi Automotive LLP, GE Measurement & Control Solutions, Casco Automotive Groups, Bourns, CTS Corporation, Infineon Technologies, Analog Devices Inc., Bosch Sensortec, Denso Corporation, and ZF Friedrichshafen AG.

Automotive Sensors Market Report Scope