The global automotive sensors market is worth US$ 19.2 Billion as of now and is expected to reach US$ 44 Billion by the year 2033 at a CAGR of 8.6% between 2023 and 2033.
With automotive vertical witnessing tremendous demand for electronic sensors (specially to position sense applications, the global automotive sensors market is expected to grow on an unstoppable note in the forecast period. Also, with spike in frequency of road accidents, the global automotive sensors market is slated to grow irrevocably in the forecast period. These days, manufacturers are handsomely penalized if the cause of accident is found to be failure of safety system. National Highway Traffic Safety Administration U.S. has established the FMVSS (Federal Motor Vehicle Safety Standard) No. 126 that makes it imperative for the automakers to have ESC (electronic stability control) installed in passenger cars, buses, trucks, and multipurpose passenger vehicles.
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Future Market Insights has etched these facets with future perspectives in its latest market study entitled ‘Autonomous Sensors Market’.
“With stern regulations being implemented by governments regarding fuel efficiency, the global automotive sensors market is bound to grow gracefully in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Automotive Sensors Market
The Asia-Pacific is witnessing maximum turbulence in the automotive sensors market with China and Japan leading from the front. This is evident from the fact that the year 2019 saw Japan’s Ministry of Land, Infrastructure, Transport, and Tourism mandating installing automated emergency braking in every new-fangled passenger vehicle by November 2021.
North America holds the second-largest market share with the US seeing an ever-increasing demand for EVs.
Europe is expected to grow in automotive sensors market on the back of Germany.
Competitively Automotive Sensors
Uni-Automation is known for creating a spectrum of sensors for several parameters like wire wound potentiometers, joystick controllers, conductive plastic potentiometers, and likewise. The end-use applications include automotive, medical, locomotive, and likewise.
Blickdeld comes across as one of the leading providers of LiDAR technology regarding autonomous vehicles. They make use of LiDAR for generating detailed three-dimensional images; thereby capturing full scene with horizontal and vertical details. This resolution is adaptive, thereby adjusting to exclusive situations.
Clairpixel does specialize in the single chip imaging solutions; thereby offering a broad range of CMOS image sensors for addressing sectors like mobile, medical, security, and automotive.
Robert Bosch GmbH, in November 2021, came up with an advanced driver-assistance system for ‘city rail transportation’. In case of collision, it does warn tram driver through signal. If driver gets late in intervening, system goes ahead breaking the tram till it comes to halt regarding prevention of an impact or atleast causing minimum damage.
Infineon Technologies AG, in October 2021, did launch XENSIV TLE4972. This coreless current sensor makes use of Infineon’s proven Hall technology for stable and accurate current measurements.
Continental AG, in July 2021, entered into partnership with LiDAR expert termed as ‘AEye’ for integrating long-range LiDAR technology into ‘full sensor stack solution’, thereby creating the very first full-stack automotive-grade system for Level 2+, which could go to Level 4 autonomous and automated driving applications. This solution that is based on LiDAR technology of AEye comes across as a notable part of sensor set-up pertaining to high-level automation systems.
Vitesco technologies, in June 2020, partnered with ROHM Semiconductor for using the latter’s technology in the electric vehicle high-power electronics.
Robert-Bosch GmbH, in January 2020, turned out to be the very first company to come up with long-range LiDAR sensors, which are well-suited for use in automotives.
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Prominent players operating in the automotive sensor market are: -
NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, and Robert Bosch GmbH
What does the Report sense?
The research study is based on sensor type (position sensors (clutch position sensors, gear position sensors, throttle position sensors, crankshaft position sensors, steering angle position sensors, and camshaft position sensors), safety sensors (seat belt sensors, brake switch sensors, door switch sensors, blind spot detection, night vision sensors, light sensors, parking sensors, cruise control, impact sensors, and anti-theft sensors), level sensors (fuel level sensors, coolant level sensors, and oil level sensors), by oxygen sensors, pressure sensors (tire pressure sensors, EGR pressure sensors, and airflow rate sensors), by temperature sensors (engine coolant temperature sensors, humidity/rain sensors, fuel/oil temperature sensors, battery temperature sensors, and air temperature sensors), and speed sensors (wheel speed sensors and speedometer)), by vehicle type (passenger cars (compact, midsize, luxury, and SUVs), light commercial vehicles and heavy commercial vehicles), and by sales channel (original equipment manufacturers, original equipment supplier spare parts, and independent aftermarket).
With AEBS (autonomous emergency braking systems) being incorporated in commercial vehicles for enhancing safety as well as comfort of the passengers and driver alike, the global automotive sensors market is expected to grow on a good note in the forecast period.
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