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Why automotive sensors market is growing rapidly...? | Continental AG, TE Connectivity, Delphi Automotive PLC, NXP Semiconductor, Denso Corporation, Samsung, Infineon Technologies, Bosch Group, ZF Friedrichshafen AG, and Analog Devices
Automotive Sensors Market
The automotive sensors market also witnesses a substantial demand for image sensors owing to the incorporation in lighting & imaging systems in modern vehicles. They offer enhanced assistance to night-vision & camera-enabled applications such as emergency braking, video mirrors, and driver monitoring in the automobile.
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The automotive sensors market development is hampered by high sensor costs that limit the use in traditional and passenger vehicles. The price factor enforces vehicle manufacturers to deploy these components in luxury and autonomous vehicles only. The issue can be eliminated by improved supplier-OEM relationships, which will aid them in purchasing the sensing components at lower prices. Another factor restraining the automotive sensors market is the short life and reliability issues of the sensing components. These challenges can be overcome by component manufacturers through the deployment of more efficient and reliable products.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Actia Group SA
2. Volkswagen AG
3. Autel Intelligent Technology Corp., Ltd.
4. AVL List GmbH
5. BMW AG
6. Bosch Automotive Service Solutions Inc.
7. Continental
8. Daimler AG
9. Delphi Automotive PLC
10. Denso
Europe is expected to cover a substantial share in the automotive sensors market in the coming years. This growth is attributed to the presence of major luxury car manufacturers in the region including Audi and BMW, among others. All modern and luxury vehicles deploy many sensing components that add up to the automotive sensors market development. The supportive EU standards and initiatives for road safety and development of the European automotive sector are driving the industry growth. Additionally, the U.S. is expected to dominate the automotive sensors market owing to the high demand for the automotive safety & control systems in this region. Early technological adoption and consumer awareness about advanced automotive systems support the consumption of sensing components.
The powertrain application in the automotive sensors market is expected to grow rapidly over forecast years due to the provisioning of level, position, and speed data to these systems. Sensor manufacturers have developed a specific powertrain segment in their product portfolio, which will offer application-specific components. In the automotive sensors market, safety & control applications are witnessing high development owing to the growing deployment in autonomous, semi-autonomous, and luxury vehicles. These systems aid in vehicle sensing and monitoring the speed in cases of accidents. In modern vehicles, the safety applications are deployed in the lane management systems to alert the drivers in maintaining the lane while driving.
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Europe is expected to cover a substantial share in the automotive sensors market in the coming years. This growth is attributed to the presence of major luxury car manufacturers in the region including Audi and BMW, among others. All modern and luxury vehicles deploy many sensing components that add up to the automotive sensors market development. The supportive EU standards and initiatives for road safety and development of the European automotive sector are driving the industry growth. Additionally, the U.S. is expected to dominate the automotive sensors market owing to the high demand for the automotive safety & control systems in this region. Early technological adoption and consumer awareness about advanced automotive systems support the consumption of sensing components.
In the automotive sensors market, proximity sensing components are witnessing a high demand due to their implementation in parking assistance and adaptive cruise control systems. These components deployed in the parking assist systems to aid the driver in detecting the distance of an object from the vehicle and provides alerts before crashing. Additionally, these components are increasingly being incorporated into intelligent infotainment systems that allow users to control the volume and other functions through hand movements from a distance.
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Key players operating in the automotive sensors market include Continental AG, TE Connectivity, Delphi Automotive PLC, NXP Semiconductor, Denso Corporation, Samsung, Infineon Technologies, Bosch Group, ZF Friedrichshafen AG, and Analog Devices. Major companies are developing efficient product innovations and supply chain management strategies to cater to the increasing demands from the automotive sector. Additionally, companies in the automotive sensors market have developed specialized sensors for autonomous vehicles to support recent developments.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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