Global Automotive Sensors market trends 2024, Forecast To 2033
25 Jan, 2024
The automotive sensors market has experienced rapid growth, expanding from $28.53 billion in 2023 to $32.45 billion in 2024 at a CAGR of 13.7%. The historical surge is attributed to regulatory mandates, the rise in passenger car sales, economic growth, and government support. Looking ahead to 2028, the market is anticipated to grow to $53.46 billion, with a CAGR of 13.3%, driven by factors such as increasing emphasis on vehicle safety, rising vehicle sales, the proliferation of connected vehicles, urbanization, and rising disposable income. Major trends in the forecast period include lidar technology advancements, in-cabin sensing, 5G connectivity, solid-state sensors, and sensor fusion.
Global Automotive Sensors Market Key Driver
The automotive sensors market anticipates growth driven by the increasing adoption of autonomous vehicles. Autonomous vehicles, operating without human intervention, utilize automotive sensors to enhance vehicle productivity and reduce driver stress. The global autonomous car market is projected to grow from $1.64 billion in 2021 to $11.03 billion in 2028, reflecting a 31.3% CAGR. The rising demand for autonomous vehicles plays a pivotal role in fostering the growth of the automotive sensors market during the forecast period.
Get A Free Sample Of The Global Automotive Sensors Market ReportGlobal Automotive Sensors Market Segments
The global automotive sensors market covered in this report is segmented –
1) By Type: Temperature Sensors, Pressure Sensors, Speed Sensors, Level/Position Sensors, Magnetic Sensors, Gas Sensors, Inertial Sensors
2) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
3) By Technology: Nano-Electro-Mechanical Systems, Micro-Electro-Mechanical Systems
4) By Application Type: Powertrain, Chassis, Exhaust, ADAS, Other Applications
By Geography: The regions covered in the Automotive Sensors market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas the largest region in the automotive sensors market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive sensors market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Automotive Sensors Industry Players
Robert Bosch GmbH, Continental AG, DENSO Corporation, Infineon Technologies AG, Sensata Technologies, Allegro Microsystems Inc., Analog Devices Inc., ELMOS Semiconductor SE, Aptiv plc, NXP Semiconductors N.V., STMicroelectronics N.V., CTS Corporation, Texas Instruments Incorporated, TE Connectivity Ltd, ZF Friedrichshafen, Magna International, Melexis N.V., ON Semiconductor, Amphenol Advanced Sensors, Velodyne Lidar Inc., Quanergy Systems Inc., Innoviz Technologies Ltd., Broadcom Inc., Bosch Sensortec GmbH, Bourns Inc., Delphi Technologies, Baker Hughes a GE company, Vishay Intertechnology Inc., BorgWarner Inc., Maxim Integrated, Littelfuse Inc., Htachi Automotive Systems Americas Inc., OmniVision Technologies Inc., Autoliv Inc., Valeo Group
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Automotive Sensors Market Overview
The automotive sensors are used to detect, transmit, analyse, record, and display information about the vehicle's internal and external surroundings. Automotive sensors are intelligent sensors that monitor the vehicle's condition and either provide information to the user or automatically make the required changes to the vehicle. Automotive sensors check incoming air temperature, fuel-air mixture, manifold pressure, wheel speed, and others.
Automotive Sensors Global Market Report 2023 provides data on the global automotive sensors market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive sensors market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.