Automotive MEMS Sensor Market to be US$ 9.75 Billion by year 2032 | Future Market Insights

The global automotive MEMS sensor market is anticipated to create lucrative growth opportunities over the forecast period by registering a total CAGR of 15% from 2022 to 2032. The global market garnered a market value of US$ 2.41 Billion in 2022 and is expected to surpass a valuation of US$ 9.75 Billion by 2032.

The spread of technologically advanced cars around the world is responsible for the market's expansion. The micro-electro-mechanical systems (MEMS) sensors used in automobiles are computer systems that effectively manage and regulate all of the vehicle's mechanical, electrical, and electronic components.

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The use of MEMS inertial sensors has unlocked a number of desirable characteristics that are now among the most prevalent in modern autos. Several uses have gained popularity because they are now commonplace in autos. These systems combine nanoscale nanotechnology with NEMS (nanoelectromechanical systems). Some apps contain the most cutting-edge capabilities, which are typically available in high-end versions but which will eventually become mainstream.

On the basis of features like crash detecting for airbag management, vehicle dynamic control, rollover detection, antitheft systems, electronic parking brake systems, car navigation systems, and others, automotive MEMS sensors can be divided into different categories.

Additionally, the main components of automotive MEMS sensors are a microprocessor/central unit for data processing and a number of micro sensors for interacting with the surroundings. Silicon, polymers, and metals including gold, nickel, aluminum, copper, tungsten, chromium, titanium, platinum, etc. are often used materials for the construction of automobile MEMS sensor systems and semiconductor devices.

Key Takeaways

The increasing demand for technologically advanced vehicles all over the world is one of the primary factors driving the automotive MEMS sensor market. In addition to that, government regulations regarding safety features to reduce the usage of fuel as well as the increasing demand for vehicles with better mileage by the general public are some of the major factors boosting the adoption of automotive MEMS sensors in the automotive industry.

Attributing to the steady growth of alternative vehicle choices, such as technologically advanced hybrid vehicles or pure electric cars, in various regions has contributed significantly to the automotive MEMS sensor market due to the high complexities of these automobiles over conventionally used vehicles.
The ease of driving, security concerns, driver safety, and the demand for vehicles that require low maintenance are also some of the factors driving the automotive MEMS sensor market.

Furthermore, an automotive MEMS sensor system usually comprises mechanical and electronic components working in tandem with each other. The perfect integration of these components is a major challenge, which can, in turn, hinder the growth of the automotive MEMS sensor market.

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Competitive Landscape

Some of the prominent players in the global automotive MEMS sensor market are focusing on mergers and acquisitions in order to cater to the demands of consumers. Attributed to the presence of a such high number of participants, the market is highly competitive. Other key market players are focusing on offering semiconductor chips that are revolutionizing navigation in cars.

More Insights into the Automotive MEMS Sensor Market

The European region is anticipated to dominate the global automotive MEMS sensor market. Due to the strong presence of the automotive industry in Germany, it has been anticipated to accelerate the demand for automotive MEMS sensors in Europe. Safety regulations while driving in the country are positively influencing the demand for automotive MEMS sensors.

The rapid production of electric cars and hybrid vehicles is contributing to the growth of automotive MEMS sensors in Europe. Thus, Europe is expected to register a CAGR of 13% for automotive MEMS sensors in the assessment period 2022-2032.

The Asia Pacific region is yet another area that is expected to be the fastest growing market in the automotive MEMS sensor market owing to an increase in the vehicle fleet in this region. Furthermore, government initiatives to increase foreign direct investments in countries such as India and China to increase manufacturing, and industrialization and improve the standard of living of the general population are also expected to play an important role in the growth of the global automotive MEMS sensor market during the forecast period. Therefore, owing to the reasons mentioned above Asia Pacific is expected to register a CAGR of 9% in the forecast period for automotive MEMS sensors.

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Key Segments Profiled in the Automotive MEMS Sensor Market

Automotive MEMS Sensor Market by Application:

Automotive MEMS Crash Sensing for Airbag Control
Automotive MEMS for Rollover Detection
Automotive MEMS for Vehicle Dynamic Control
Automotive MEMS for Electronic Parking Brake Systems
Automotive MEMS for Antitheft Systems
Automotive MEMS for Vehicle Navigation Systems
Automotive MEMS for Other Applications
Automotive MEMS Sensor Market by Sales Channel:

Automotive MEMS Sensor Sales through OEMs
Automotive MEMS Sensor Sales through Aftermarket

Automotive MEMS Sensor Market by Vehicle Type:

Automotive MEMS Sensor for Passenger Vehicles
Automotive MEMS Sensor for Internal Combustion Engines
Automotive MEMS Sensor for Hybrid Vehicles
Automotive MEMS Sensor for Battery Electric Vehicles (BEV)
Automotive MEMS Sensor for Light Commercial Vehicles
Automotive MEMS Sensor for Heavy Commercial Vehicles

Automotive MEMS Sensor Market by Region:

North America Automotive MEMS Sensor Market
Latin America Automotive MEMS Sensor Market
Europe Automotive MEMS Sensor Market
Asia Pacific Automotive MEMS Sensor Market
Middle East & Africa Automotive MEMS Sensor Market

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.