Mounting ADAS Sensors Demand Boosting Automotive Sensors Market Growth

The burgeoning demand for advanced driver-assistance system (ADAS) sensors, rising government regulations regarding vehicle safety, and increasing vehicle electrification are expected to drive the automotive sensors market at a CAGR of 7.4% during the forecast period (2020–2030). According to P&S Intelligence, the market value stood at $25,723.8 million in 2019 and it is projected to reach $58,215.3 million by 2030. Moreover, the mounting investments being made in the development of advanced sensors are creating ample opportunities for the market players.

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The surging demand for ADAS sensors, on account of the increasing adoption of autonomous features in vehicles, will support the market growth in the foreseeable future. Autonomous features such as speech recognition, virtual assistance, eye tracking, gesture recognition, natural language interface, and driver monitoring are highly dependent on advanced automotive sensors. Moreover, the development of the ADAS, including driver condition evaluation systems, radar-based detection units, camera-based machine vision systems, and sensor fusion engine control units (ECUs), also drives the demand for ADAS sensors.

This is mainly because of the fact that a majority of the technological innovations and advancements taking place in the automotive sector such as autonomous driving and electrification, are first implemented in the passenger vehicles, on account of their higher utilization all over the world. The major application areas of these sensors are ADASs, chassis, powertrain, and body. Amongst these, the usage of the sensors will be the highest in the ADASs in the forthcoming years, primarily because of the mandatory requirement of certain ADAS features in vehicles in several countries around the world.

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.

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)
Radar
Light detection and ranging (LiDAR)
Camera
Ultrasonic
Powertrain
Chassis
Body
Market Segmentation by Technology

Micro-Electromechanical System (MEMS)
Non-MEMS
Market Segmentation by Vehicle Type

Passenger Car
Conventional fuel car
Alternative fuel car
Commercial Vehicle
Light commercial vehicle (LCV)
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
By type
By application
By technology
By vehicle type
By end use
By country – U.S. and Canada
Europe Automotive Sensors Market
By type
By application
By technology
By vehicle type
By end use
By country – Germany, U.K., France, Italy, Spain, and Rest of Europe
Asia-Pacific (APAC) Automotive Sensors Market
By type
By application
By technology
By vehicle type
By end use
By country – China, Japan, India, and Rest of APAC
Latin America, Middle East, and Africa (LAMEA) Automotive Sensors Market
By type
By application
By technology
By vehicle type
By end use
By country – Brazil, Mexico, and Rest of LAMEA

This study covers
1. Historical and the present size of the Automotive Sensors Market
2. Future potential of the market through its forecast for the period 2020– 2030
3. Historical and the present size of the market segments and understand their comparative future potential
4. Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
5. Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
6. Major players operating in the market and their service offerings

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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.