Automotive Sensors Market

The surging integration of advanced driver assistance systems (ADASs) in vehicles is an important factor propelling the demand for automotive sensors across the world. Furthermore, the increasing popularity of autonomous vehicles is significantly boosting the global demand for these sensors. These sensors are incorporated in autonomous vehicles for numerous purposes such as eye tracking, speech recognition, virtual assistance, driver monitoring, gesture recognition, and in natural language interface. Additionally, “the development of ADASs equipped with radar-based detection devices, sensor fusion engine control units (ECUs), and camera-based machine vision systems is tremendously boosting the requirement of automotive sensors”.

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Therefore, the rising enactment of such laws will lead to huge revenue growth in “the global automotive sensors market in the coming years, from $25,723.8 million to $58,215.3 million from 2019 to 2030”. The market is also predicted to advance at a CAGR of 7.4% from 2020 to 2030, according to the estimates of the market research company P&S Intelligence. These sensors are adopted in both commercial and passenger vehicles, of which, the passenger cars generated higher demand for these sensors in the past. This trend is likely to continue in the future years as well.

Geographically, “the automotive sensors market registered the highest growth in the Asia-Pacific (APAC) region in the last few years”. Furthermore, the market will demonstrate the fastest growth in the APAC region in the future years. This is attributed to the high automobile manufacturing capacity of China and the rapid development of advanced autonomous and electric vehicles in the country. The increasing production of such advanced vehicles is creating huge demand for automotive sensors in the country.

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Hence, it can be said with surety that the sales of automotive sensors will surge all over the world in the upcoming years, mainly because of the growing popularity of autonomous and electric vehicles and the rising requirement of ADASs and other systems in vehicles across the world.

The research offers market size of the global automotive sensors market for the period 2015–2030.
Market Segmentation by Type
• Pressure Sensor
• Temperature Sensor
• Position Sensor
• Oxygen Sensor
• Motion Sensor
• Optical Sensor
• Torque Sensor
• Gas Sensor
• Level Sensor
• Others
Market Segmentation by Application
• Advanced Driver-Assistance System (ADAS)
o Radar
o Light detection and ranging (LiDAR)
o Camera
o Ultrasonic
• Powertrain
• Chassis
• Body
Market Segmentation by Technology
• Micro-Electromechanical System (MEMS)
• Non-MEMS
Market Segmentation by Vehicle Type
• Passenger Car
o Conventional fuel car
o Alternative fuel car
• Commercial Vehicle
o Light commercial vehicle (LCV)
o Medium and heavy commercial vehicle (M&HCV)
Market Segmentation by End Use
• Original Equipment Manufacturer (OEM)
• Aftermarket
Market Segmentation by Region
• North America Automotive Sensors Market
o By type
o By application
o By technology
o By vehicle type
o By end use
o By country – U.S. and Canada
• Europe Automotive Sensors Market
o By type
o By application
o By technology
o By vehicle type
o By end use
o By country – Germany, U.K., France, Italy, Spain, and Rest of Europe
• Asia-Pacific (APAC) Automotive Sensors Market
o By type
o By application
o By technology
o By vehicle type
o By end use
o By country – China, Japan, India, and Rest of APAC
• Latin America, Middle East, and Africa (LAMEA) Automotive Sensors Market
o By type
o By application
o By technology
o By vehicle type
o By end use
o By country – Brazil, Mexico, and Rest of LAMEA

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.