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Automotive Intelligence Battery Sensor Market Size, Forecast, Growth, Trends 2024-2033
Automotive Intelligence Battery Sensor Market
Automotive Intelligence Battery Sensor Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $13.18 billion In 2028 At A CAGR Of 17.1% :
The automotive intelligence battery sensor market size has grown rapidly in recent years. It will grow from $6.08 billion in 2023 to $6.83 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth in the historic period can be attributed to increasing vehicle electrification, growing complexity of automotive electronics, stringent emission standards, automotive safety regulations, demand for fuel efficiency.
The automotive intelligence battery sensor market size is expected to see rapid growth in the next few years. It will grow to $10.66 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to enhanced diagnostic capabilities, development of energy-dense batteries, sustainability initiatives, focus on vehicle safety and reliability, growing awareness of battery health. Major trends in the forecast period include increased adoption of advanced driver assistance systems (adas), advancements in sensor technologies, rise in connectivity and iot integration, development of smart charging systems, collaborations and partnerships, increasing complexity of electrical architectures.
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Automotive Intelligence Battery Sensor Market Major Segments
The automotive intelligence battery sensor market covered in this report is segmented -
1) By Technology: MCU, CAN, LIN
2) By Voltages: 12, 14, 24, 48
3) By Application: LDWS (Lane Departure Warning System), BSD (Blind Spot Detection System), FCW (Forward Collision Warning System), Pedestrian Protection, Night Vision, Head-up Displays, Other Applications
4) By Vehicle Type: Passenger Car, Commercial Vehicles
Key Driver - Growing Automotive Industry Drives Demand For Automotive Intelligence Battery Sensors
An increase in the automotive industry is expected to propel the automotive intelligence battery sensor. Economies worldwide have been steadily increasing, which has increased the standard of living and further increased the purchasing power. The advent of the COVID-19 pandemic also resulted in individuals preferring a safer mode of transportation that promoted social distancing and thus boosted the growth of automobiles. With the increase in gas prices, there has also been widespread adoption of EV vehicles that aim to reduce costs and increase efficiency. These factors increased the demand for automobile intelligence battery sensors, offering vehicle energy management by continuously analyzing the status of critical parameters related to battery health. For instance, in June 2021, according to a report from the OICA (International Organization of Motor Vehicle Manufacturers), global passenger car sales increased from 53 million in 2020 to 56 million. Similarly, commercial vehicle sales increased from 24 million in 2020 to 26 million in 2021. Therefore, the increased demand in the automotive industry drives the growth of the automotive intelligence battery sensor market.
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Prominent Trend - Technological Advancements Driving Automotive Intelligence Battery Sensor Market
Technological advancements have emerged as a key trend gaining popularity in the automotive intelligence battery sensor market. Major automotive intelligence battery sensor companies are focused on delivering advanced battery solutions to strengthen their market position. For instance, in May 2022, Continental AG, a Germany-based automotive parts manufacturing company, launched new sensors to protect electrified vehicle batteries. These high-voltage Current Sensor Modules (CSM) and Battery Impact Detection (BID) provide current and temperature data to keep the battery safe and long-lasting, save up to 50% of its weight, and also provide underfloor protection.
Automotive Intelligence Battery Sensor Market Players
Major companies operating in the automotive intelligence battery sensor market report are Robert Bosch GmbH, NXP Semiconductors N.V., Continental AG, Furukawa Electric Company Limited, Vishay Intertechnology Inc., Texas Instruments Incorporated, Inomatic GmbH, MTA Automotive Solutions Pvt. Ltd., Denso Corporation, Abertax Technologies Limited, Autotech Components Pvt. Ltd., Bamomas, Analog Devices Inc., Infineon Technologies AG, Sensata Technologies Inc., STMicroelectronics N.V., TE Connectivity Ltd., Hella GmbH & Co. KGaA, Hitachi Automotive Systems Ltd., Renesas Electronics Corporation, Mitsubishi Electric Corporation, Panasonic Corporation, LG Chem Ltd., BYD Company Ltd., Contemporary ams-OSRAM AG, Electronic Design News, Akebono Brake Industry Co. Ltd., Alibaba Group Holding Limited, Anfield Sensors Inc., First Sensor AG
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive intelligence battery sensor market in 2023. The regions covered in the automotive intelligence battery sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Intelligence Battery Sensor Market Report Structure
3. Automotive Intelligence Battery Sensor Market Trends And Strategies
4. Automotive Intelligence Battery Sensor Market - Macro Economic Scenario
5. Automotive Intelligence Battery Sensor Market Size And Growth
…..
27. Automotive Intelligence Battery Sensor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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