Automotive Sensors Market witnessed USD 28.4 billion in 2021 and estimated to reach USD 67.0 billion by 2029, increasing at a CAGR of 11.3% | Size & Industry Share

The Automotive Sensors Market was estimated around USD 28.4 billion in 2021 and expected to reach USD 67.0 billion by 2029, growing at a CAGR of 11.3%, during the forecast period (2022-2029).

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The factors driving growth of the Automotive Sensors Market includes increasing demand for electric vehicles around the world, growing concerns related to safety of passengers, rising focus of manufacturers on developing fuel efficient vehicles, surge in the number of road accidents and improvements in the living standards. According to the report published by International Energy Agency (IEA), the purchase of electric vehicles worldwide has increased from 3 million in 2020 to 6.6 million in 2021, electric vehicles made up approximately 9% of the market, which will accelerate the market growth in the approaching years. Moreover, growing demand for smart data processing devices, integration of advanced emergency braking systems in commercial cars, rising adoption of advanced technologies, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Automotive Sensors Market size. In addition, the increasing investments by major companies on research and development, strategic partnerships between enterprises and growing population growth rates, are further contributing towards the market growth.

However, underdeveloped market in the developing countries, might restrict the growth of Automotive Sensor Market.

The major leading players operating in the Automotive Sensors Market are Infineon Technologies AG, Sensata Technologies, Inc., Allegro MicroSystem, LLC, Robert Bosch GmbH, Continental AG, BorgWarner Inc., Analog Devices, Inc., Elmos Semiconductor SE, Denso Corporation, and CTS Corporation among other companies.

Based on Sales Channel, the Original Equipment Manufacturer (OEM) segment is predicted to dominate the market during the forecast period

Growing demand for Advanced Driver Assistance systems because it provides night vision, automatic high beam control, and front luminance, is pushing growth of the segment.

Based on Application, the Powertrain segment is projected to expand at a remarkable CAGR over the forecast period

Increasing use of powertrains to monitor speed, temperature, and pressure in automobiles, and optimizing fuel consumption, are some of the factors propelling segment's growth.

Based on Region, the Asia-Pacific region is anticipated to capture the largest market share during the forecast period

Government policies promoting the manufacturing of electric vehicles, rising incidences of road accidents across India, Indonesia and Vietnam, developments in connected devices, rapid urbanization, and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.

Key Developments

In 2021, Robert Bosch GmbH launched an innovative and advanced driver-assistance system for city rail transportation. The latest system first warns the tram driver using a signal in case of any collision. the system automatically breaks the tram, If the driver does not interfere or does so too late, until it is stopped completely to prevent an impact or, at least, minimize it as much as possible.
In 2021, Infineon Technologies AG, introduced an automotive current sensor- XENSIV TLE4972, which makes use of Infineon's well-proven Hall technology for accurate and stable current measurements.
In 2021, Melexis, launched two new non-contact position sensors to expand its portfolio and complement the existing MLX90364/5/6/7 products.
In 2020, Aeva Inc., entered into a partnership with auto supplier ZF Friedrichshafen AG to manufacture key self-driving sensors for self-driving vehicles. This partnership is intended to strengthen the product portfolio of both the companies.

Market Segmentation

Segmentation by Sales Channel

Original Equipment Manufacturer (OEM)
Aftermarket

Segmentation by Sensor Type

Temperature Sensors
Pressure Sensors
Position Sensors
Oxygen Sensors
Nitrogen Oxide Sensors
Speed Sensors
Inertial Sensors
Image Sensors
Other Sensors

Segmentation by Vehicle Type

Passenger Cars
Light Commercial Vehicles (LCVs)
Heavy Commercial Vehicles (HCVs)

Segmentation by Application

Powertrain
Chassis
Exhaust
Safety & Control
Body Electronics
Telematics
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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