Automotive Sensors Market Size to grow by USD 9906.4 million between 2024-2028
According to a research report “ Automotive Sensors Market” by Vehicle Type (Passenger cars, Commercial vehicle) Type (Temperature sensor, Speed sensor, Pressure monitoring sensor, Image sensor, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 9906.4 million, at a CAGR of 6.78% during the forecast period. The automotive sensors market is experiencing significant growth due to the increasing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs). These powertrain systems necessitate specialized sensors for battery management, motor control, regenerative braking, and charging infrastructure monitoring. The electrification and hybridization of vehicles involve the utilization of electric motors, batteries, and power electronics, which demand precise monitoring and control. Consequently, sensors such as temperature sensors, current sensors, voltage sensors, and position sensors become essential for optimizing the performance of these systems in EVs and HEVs. The need for accurate data collection and feedback is paramount to ensure the efficient operation and longevity of these advanced powertrain technologies.
Browse market data tables, figures, and in-depth TOC on “Automotive Sensors Market” by Vehicle Type (Passenger cars, Commercial vehicle) Type (Temperature sensor, Speed sensor, Pressure monitoring sensor, Image sensor, Others) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Vehicle Type, the Passenger cars segment is projected to dominate the market size in 2024
The automotive temperature sensors market is experiencing robust growth due to the rising demand for precise temperature monitoring in modern engine management systems. With the increasing complexity of engines, including turbochargers, direct injection, and advanced cooling systems, accurate temperature monitoring is essential for optimizing fuel efficiency, power output, and overall engine performance. Furthermore, the transition towards electric and hybrid vehicles has significantly increased the demand for temperature sensors. These vehicles require precise temperature monitoring to maintain optimal performance and ensure the safety and longevity of battery packs, electric motors, power electronics, and charging systems. Consequently, the market for automotive temperature sensors is anticipated to expand steadily throughout the forecast period.
By Type, Temperature sensor segment is expected to hold the largest market size for the year 2024
The passenger car segment dominates the global automotive sensors market, accounting for a significant market share in 2023. The automotive industry has experienced a surge in demand for automotive sensors, particularly for passenger cars. These sensors play a pivotal role in modern passenger vehicles, enabling advanced driver-assistance systems (ADAS) and enhancing safety, efficiency, and overall driving experience. Notable ADAS features, such as adaptive cruise control, lane departure warning, blind-spot detection, and automatic emergency braking, rely on sensors like radar, LiDAR, cameras, and ultrasonic sensors. With the increasing prevalence of ADAS features in passenger cars, the demand for sensors to support these systems continues to escalate.
APAC is forecasted to hold the largest market size by region in 2024
The Automotive Sensors Market is experiencing significant growth due to the increasing demand for advanced driver-assistance systems (ADAS) and electric vehicles (EVs). These technologies rely heavily on sensors for data collection and analysis, leading to increased market opportunities. Key players are investing in R&D to launch innovative products, while collaborations and acquisitions are shaping the competitive landscape. The market is expected to reach substantial growth in the forecast period.
The Automotive Sensors Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Automotive Sensors Market is experiencing significant growth due to the increasing trend towards vehicle connectivity and electrification. Electronic sensors play a crucial role in decision-making processes, feedback control, diagnostics, real-time monitoring, and the optimization of various vehicle systems. These sensors contribute to vehicle comfort, efficiency, and performance by monitoring parameters such as pressure, temperature, and proximity. With the rise of electric vehicles, sensors are essential for vehicle efficiency and fuel economy. Fuel efficiency standards and vehicle sales are driving the demand for sensors that improve fuel efficiency and reduce vehicle pollution. Safety regulations, vulnerable road users, and road accidents have led to an increased focus on vehicle safety, with sensors playing a key role in advanced driver-assistance systems (ADAS), electronic power steering, and autonomous vehicles. Connected cars and vehicle automation are also fueling the growth of the automotive sensors market. Proximity sensors, temperature sensors, and pressure sensors are just a few examples of the many types of sensors used in modern vehicles. As the automotive industry continues to evolve, the demand for advanced sensors will only continue to grow.
Market Research Overview
The Automotive Sensors Market is experiencing significant growth due to the increasing demand for safety-oriented features in vehicles. Automotive manufacturers are investing heavily in R&D funding to integrate advanced technologies such as ADAS (Advanced Driver Assistance Systems), chassis sensors, exhaust sensors, powertrain sensors, rain sensors, tire pressure sensors, airbag sensors, radar, cameras, LiDAR, ultrasonic sensors, and other electronic sensors. Safety features like driver tiredness alert systems, central locking with manual override, real-time monitoring systems, and vehicle restraint systems are becoming standard in both HCV (Heavy Commercial Vehicles) and LCV (Light Commercial Vehicles), as well as passenger cars. Automotive sensor technologies are also being used to improve vehicle efficiency and performance, such as engine efficiency sensors, central airbag units, and vehicle connectivity. Regulatory frameworks, emissions regulations, and vehicle electrification are driving the demand for these sensors. Companies like STMicroelectronics, NXP Semiconductors, and Infineon Technologies are leading the market with their innovative sensor solutions. The increasing popularity of autonomous driving and connected vehicles is also expected to boost the growth of the automotive sensors market. Middle-class consumers in developing economies are also driving the demand for automotive sensors as they seek safer, more efficient, and technologically advanced vehicles. However, the market is also facing challenges such as traffic congestion, manufacturing costs, and regulatory compliance. In conclusion, the automotive sensors market is a dynamic and evolving industry that plays a crucial role in enhancing vehicle safety, comfort, efficiency, and performance. The market is expected to continue growing as automotive manufacturers integrate more advanced technologies into their vehicles to meet the demands of consumers and regulatory bodies.
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