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Automotive Sensors Market: Size, Growth, Share, Trends, Competitive Landscape, Forecast To 2033
Automotive Sensors Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the automotive sensors industry. This report on automotive sensors market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The automotive sensors market size has grown rapidly in recent years. It will grow from $28.53 billion in 2023 to $32.45 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to regulatory mandates, rise in passenger car sales, economic growth, government support. the automotive sensors market size is expected to see rapid growth in the next few years. It will grow to $53.46 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%.
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Key Market Players:
Robert Bosch GmbH, Continental AG, DENSO Corporation, Infineon Technologies AG, Sensata Technologies, Allegro Microsystems Inc., Analog Devices Inc., ELMOS Semiconductor SE, Aptiv PLC, NXP Semiconductors N.V., STMicroelectronics N.V., CTS Corporation, Texas Instruments Incorporated, TE Connectivity Ltd., ZF Friedrichshafen, Magna International, Melexis N.V., ON Semiconductor, Amphenol Advanced Sensors, Velodyne Lidar Inc., Quanergy Systems Inc., Innoviz Technologies Ltd., Broadcom Inc., Bosch Sensortec GmbH, Bourns Inc., Delphi Technologies, Baker Hughes a GE company, Vishay Intertechnology Inc., BorgWarner Inc., Maxim Integrated, Littelfuse Inc., Htachi Automotive Systems Americas Inc., OmniVision Technologies Inc., Autoliv Inc., Valeo Group
Market Drivers:
According to the Automotive sensors Market Report 2024 by The Business Research Company, The rise in the use of pressure sensors in the automotive industry is a key trend gaining popularity in the automotive sensor market. Pressure sensors are used for discovering the early faults in hydraulic brakes, optimizing the fuel mix to match the air pressure, automatic cleaning of exhaust filters, tracking exhaust recirculation, critical fluid examinations, finding vapor leakages, triggering airbags faster, and launching pedestrian airbags.
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Market segments for automotive sensors include:
1) By Type: Temperature Sensors, Pressure Sensors, Speed Sensors, Level/Position Sensors, Magnetic Sensors, Gas Sensors, Inertial Sensors
2) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
3) By Technology: Nano-Electro-Mechanical Systems, Micro-Electro-Mechanical Systems
4) By Application Type: Powertrain, Chassis, Exhaust, ADAS, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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