Automotive Sensors Market to Surpass USD 47.79 Billion by 2032 Owing to Rising Demand for ADAS and Electric Vehicles

The Automotive Sensors Market is experiencing significant growth, driven by the increasing integration of safety and performance technologies in modern vehicles

AUSTIN, TX, UNITED STATES, November 19, 2024 /EINPresswire.com/ --

Automotive Sensors Market

The Automotive Sensors Market was valued at USD 26 billion in 2023 and is projected to reach USD 47.79 billion by 2032, with a CAGR of 7% over the forecast period from 2024 to 2032.

The Automotive Sensors Market is Driving Vehicle Innovation with ADAS, EV Growth, and Enhanced Safety Features.

The Automotive Sensors market is an important constituent of the modern vehicle world, by which real-time data regarding performance by the engine, tire pressure, and environmental monitoring is availed. The sensor converts the physical data, like temperature and pressure, into electrical signals that are understood by onboard computer systems of vehicles. Truly key to the reliability and efficiency of sensors is IC technology used during fabrication.

On their part, much growth in sensor adoption can be attributed to the developments on ADAS and EVs with regard to safety, which has been enhanced by functionalities such as airbags, traction control, and, notably, automatic climate control and parking assistance for drivers. The other opportunities come in the development of technology like LiDAR for autonomous vehicles and further miniaturization of sensors for increased efficiency. Safety and emissions government regulations also are pushing the automotive sector toward more sophisticated sensor systems.

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Key Players Listed in Automotive Sensors Market Are:

• Robert Bosch GmbH (Germany)
• Infineon Technologies AG (Germany)
• Continental AG (Germany)
• NXP Semiconductors N.V. (Netherlands)
• DENSO Corporation (Japan)
• Analog Devices Inc. (US)
• BorgWarner Inc. (US)
• Sensata Technologies (US)
• Allegro Microsystems Inc. (US)
• ELMOS Semiconductor SE (Germany)
• Aptiv plc (Ireland)
• STMicroelectronics N.V. (Switzerland)
• CTS Corporation (US)
• Autoliv Inc. (Sweden)
• TE Connectivity (Switzerland)
• Valeo S.A. (France)
• ZF Friedrichshafen (Germany)
• Magna International (Canada) and other key players.

Growing Demand for High-Resolution Sensors with the Growing Autonomous Vehicle Regulating Efforts.

Advances in autonomous vehicle technology, along with increasingly stringent safety standards and safety features such as automatic emergency braking and lane-keeping assistance, are driving demand for high-precision sensors. Sensors will be integral in self-driving cars through long-range radar and ultrasonic sensors for parking assistance. With increasingly stringent regulations, more and more cars are being equipped with various sensors to meet new requirements, further accelerating the growth of the automotive sensor market.

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Automotive Sensors Market Segment Analysis

By Sensor Type:

With regard to the sensor, automotive sensors' largest type is position sensors, which account for close to 20% of the market share. These sensors are critical to vehicle functionalities such as steering, braking, adjustments for a seat, and a pedal. Because of their large applications in critical systems of a car, position sensors are likely to remain at the top of the market.

By Application:

The application segment is dominated by powertrain systems. For powertrain systems, which consist of engines and transmissions, to keep discovering sensor technologies that would help monitor performance, provide efficiency, and be controlled for emissions, they are in an important need. Both fuel economy and emission regulations have placed a lot of pressure on this particular segment, hence boosting sensor demand further.

By Vehicle Type:

Passenger car held the majority of market share of automotive sensor followed by a vehicle type, with approximately 50%. Passenger vehicles are most applicable in adopting technology, hence lead in the demand for advance sensors mainly about ADAS as well as assistive driving features.

Automotive Sensors Market Key Segmentation:

By Sensor Type:

• Temperature Sensors
• Pressure Sensors
• Oxygen Sensors
• NOx Sensors
• Position Sensors
• Speed Sensors
• Inertial Sensors
• Image Sensors
• Others

By Application:

• Powertrain Systems
• Chassis
• Exhaust Systems
• Safety & Control Systems
• Vehicle Body Electronics
• Telematics Systems
• Others

By Vehicle Type:

• Passenger cars
• LCV
• HCV

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Regional Development

The Asia Pacific region is the world market leader in the automotive sensors market, with a share of approximately 45%. The region enjoys this share due to the massive volumes of production that naturally translate into tremendous demand for automotive sensors. Government initiatives related to electric vehicles and increasingly stricter emission norms have also fueled demand for advanced sensor technologies in the region.

North America ranks second in the automotive sensors market, which is driven by its matured automotive industry and early adoption of ADAS features. Major automotive manufacturers are found here, with a high focus on innovation, which helps support demand for sophisticated automotive sensors in this region.

Latin America is the fastest growing region in the automotive sensors market, which is being propelled by fast expansion of the transportation sector along with rising disposable incomes, and implementation of stricter safety regulations mandating the installation of sensor-based safety features in vehicles. These trends have thrown enormous growth opportunities in front of the sensor manufacturers in this region.

Recent Developments

October 2024: Infineon Technologies started the shipping of a CYFP10020x00 series of automotive-grade biometric fingerprint sensor ICs-CYFP10020A00 and CYFP10020S00. The IC is designed to establish identification as well as authentication for drivers for in-car personalization and payment solutions like charging, parking, etc.
October 2024: Sony Semiconductor Solutions Corporation announced its decision to release the ISX038 CMOS image sensor for automotive cameras, the first product in the industry to process the simultaneous outputting and processing of RAW*2 and YUV*3 images.

Table of Contents

1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Impact Analysis
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Automotive Sensors Market Segmentation, By Sensor Type
10. Automotive Sensors Market Segmentation, By Application
11. Automotive Sensors Market Segmentation, By Vehicle Type
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Use Case and Best Practices
16. Conclusion

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