Press release
Driving Innovation: Automotive Sensors Market to be worth US$ 44 billion by 2033 with 8.6% CAGR
Automotive Sensors Market
In recent times, the global automotive sensors market has experienced significant growth. The increased adoption of alternative fuels and vehicles plays a crucial role in reducing consumer fuel costs and enhancing the energy security of nations, thereby driving market development. Moreover, the growing prevalence of alternative fuel vehicles is expected to further boost market growth throughout the assessment period. Additionally, the increasing integration of new systems and technologies in automobiles is anticipated to have a positive impact on the market's advancement in the coming years.
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Modern vehicle restraint systems employ side airbag pressure sensors for passenger car safety. Integrated into the side doors, these sensors transmit digital crash signals to the central airbag unit. Moreover, the air pressure sensor enhances engine efficiency by precisely controlling spark advances in gasoline and diesel engines. Consequently, the market is poised for development as pressure sensors find increasing use in both engine and vehicle safety systems.
In the next few years, the autonomous capabilities of commercially available vehicles are expected to advance rapidly. This progress is driven by stricter regulations and safety tests, particularly for emergency brake assist, as well as a growing emphasis on vehicle safety. Developed countries already mandate functions such as cruise control and lane-keep assist on all vehicles, while regulations for blind-spot monitoring, especially in Europe, are gaining traction.
To enable features like adaptive cruise control, these vehicles rely on long-range radar sensors, along with approximately two medium-range backward-facing radar sensors for blind spot detection. Additionally, up to 12 ultrasonic sensors are necessary for functionalities such as parking assistance. As the demand for autonomous driving features continues to grow, the utilization of high-precision sensors is expected to rise accordingly.
Key Takeaways
The United States automotive sensors market is expected to grow with a CAGR of 8.2% during the forecast period.
The demand for automotive sensors in India is expected to grow with a CAGR of 8.6% during the forecast period.
By vehicle type, passenger vehicles are projected to grow with a CAGR of 9.4% during the forecast period.
The market in China is expected to grow with a significant CAGR of 8.4% throughout the forecast period.
"Increasing use of pressure sensors in the engine and vehicle safety systems is expected to drive market growth during the forecast period," comments an FMI analyst.
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Competitive Landscape
The market for automotive sensors is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players are NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, STMicroelectronics, Texas Instruments Incorporated, Allegro Microsystems, LLC, CTS Corporation, Elmos Semiconductor, Sensata Technologies.
Some recent developments in the automotive sensors market are:
In December 2022, Continental AG revealed its exclusive modules and sensors designed specifically for electromobility. The company showcased its Advanced Driver Assistance Systems (ADAS) integrated into the "CV3" SoC (System on Chip) family, which incorporates artificial intelligence (AI) technology from semiconductor startup Ambarella.
In November 2022, Infineon Technologies AG launched the XENSIV TLE4971 family as the newest addition to their current sensor series designed for automotive applications. These devices provide accurate magnetic current sensing by utilizing proprietary temperature and stress compensation techniques, eliminating the negative impacts of magnetic cores such as hysteresis or saturation effects.
In March 2022, CTS Corporation acquired TEWA Temperature Sensors SP. Zo.o. and its subsidiaries. This acquisition strengthens CTS's temperature sensing platform and enhances its market presence in Europe.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global Automotive sensors market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the automotive sensors market, the market is segmented on the basis of sensor type, vehicle type, sales channel and region.
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Key Segments Profiled in the Automotive Sensors Market Industry Survey.
Sensor Type:
Position Sensors
Clutch Position Sensors
Gear Position Sensors
Throttle Position Sensors
Crankshaft Position Sensors
Steering Angle Position Sensors
Camshaft Position Sensors
Safety Sensors
Seat Belt Sensors
Brake Switch Sensors
Door Switch Sensors
Blind Spot Detection
Night Vision Sensors
Light Sensors
Parking Sensors
Cruise Control
Impact Sensors
Anti-theft Sensors
Level Sensors
Fuel Level Sensors
Coolant Level Sensors
Oil Level Sensors
Oxygen Sensors
Pressure Sensors
Tire Pressure Sensors
EGR Pressure Sensors
Airflow Rate Sensors
Temperature Sensors
Engine Coolant Temperature Sensors
Rain/humidity Sensors
Oil/Fuel Temperature Sensors
Battery Temperature Sensors
Air Temperature Sensors
Speed Sensors
Wheel Speed Sensors
Speedometer
Vehicle Type:
Passenger Cars
Compact
Midsize
Luxury
SUVs
Light Commercial Vehicles
Heavy Commercial Vehicles
Sales Channel:
Original Equipment Manufacturers
Original Equipment Supplier Spare Parts
Independent Aftermarket
Region:
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
About the Automotive Division at Future Market Insights
The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team briefly analyses key trends, including competitive landscape, profit margin, and research development efforts.
Explore Wide-ranging Coverage of Future Market Insights Automotive Landscape:
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Electric Vehicle Motor Market:
https://www.futuremarketinsights.com/reports/electric-vehicle-drive-motor-market
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Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient 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.
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