Automotive Sensors Market is Expected to Reach USD 51.58 Billion By 2028

Automotive Sensors Market- USD 24.46 Billion in 2020, CAGR of 9.7%, Growing demand for autonomous vehicle, APAC is expected to register the highest market

NEW YORK, NY, UNITED STATES, March 14, 2022 /EINPresswire.com/ -- Rise in demand for vehicle electrification, formulation of stringent government regulations related to emissions will drive the automotive sensors market at a high CAGR during the forecast period.

The automotive sensors market was valued at USD 24.46 Billion in 2020 and is expected to reach USD 51.58 Billion by the year 2028, at a CAGR of 9.7% CAGR during the forecast period (from 2020 – 2028). The continual development in automotive electronics sensors application and technology, the rising concern for safety, increasing demand of automation in automobiles, demand of concept cars from high-income consumers and increasing use of sensors in hybrid semi hybrid and electric cars are boosting the demand of automotive sensors market

Sensors are the type of transducers that detect the difference in its environment due to mechanical change and transfer it as an optical or electric signal to the concerned component. In-vehicle, sensors are used to develop a centralized control system for the car. Sensors are installed in vehicles to increase the reliability of the vehicle and the safety of the passenger. Different sensors such as temperature, pressure sensors, position sensors, speed sensors, NOx, oxygen sensors, and many other sensors are used in automotive.

Sensors are used in almost all parts of the vehicle like chassis, engines, clutch, brakes, transmission, control, and safety. There are several different types of sensors, like speed sensors, pressure sensors, humidity sensors, temperature sensors, safety sensors, and others. Pressure sensors have wide applications in fuel, safety, and engine. There are different sub-types of pressure sensors like fuel pressure sensor, air conditioning pressure sensor, manifold pressure sensor, oil pressure sensor, and others. In the vehicle, engine pressure sensors are used to regulate or fluctuate the power delivered by the engine whenever the vehicle is accelerated, or brakes are applied; it also monitors the coolant and oil pressure. For safety purposes, the pressure sensors adapt to any road terrain and prevent skidding of vehicles. Humidity sensors detect and measure water vapor and also detect fogged up windscreens.

Europe is anticipated to hold the second-largest market share in the automotive sensors market amid the presence of key players in this region. High investment in research and development by the automotive OEMs in Europe is supporting to manufacture more technologically advanced sensors than any other region. This has proven to be a key reason for the continued dominance of Europe in the automotive sensors market.

Robert Bosch (Germany), Continental AG (Germany), Delphi Automotive (UK), Denso Corporation (Japan), Infineon Technologies (Germany), Sensata Technologies (US), Allegro Microsystems (US), Analog Devices (US), Elmos Semiconductor (Germany), and CTS Corporation (US) and others are operating in the automotive sensors marketplace

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Further key findings from the report suggest-

The demand for automotive sensors is expected to witness exponential growth during the forecast period considering the rising number of vehicles with autonomous driving features, and currently, Level 2 and Level 3 autonomous driving is commercialized
Lidar sensor is the most important sensor for an autonomous automotive vehicle. Self-driving or autonomous vehicles being tested by companies such as Uber, Alphabet, Toyota, and others rely heavily on these type of sensors to locate themselves on the detailed maps they need to get around, and to identify things like other vehicles and pedestrians
The rising number of vehicles fortified with autonomous driving sensors will accelerate the growth of the automotive sensors market. The autonomous driving is majorly achieved by the highly efficient and precise micro-controller sensors. AVs are capable of sensing their environment, and the safe movement is proficient with the help of the sensors.
By the application segment, exhaust sub-segment will have better growth during the forecast period. The advanced exhaust sensor takes the performance of the engine to the next level by ensuring less emission of carbon di-oxide with efficient fuel consumption by vehicle.
Images sensors are also now being widely used to update the road maps and provide other crucial directions. Like, if there is a one-way road with no signboards, the systems updated them onto the cloud along with the updating the concerned persons on the requirements of a signboard
The Asia Pacific region is expected to lead the automotive sensors market over the forecast period owing to the increasing production and sale of vehicles in this region. Stable economic condition and improving the standard of living is the key reason for the sales of vehicle in this region

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/automotive-sensors-market

For the purpose of this study, Reports and Data have segmented the industry by Technology, by Function, by Process, by Component and by Region:

Automotive Sensors Market by Type (Revenue, USD Million; 2020–2028)

•Temperature
•Pressure
•Position
oAngular
oLinear
•Oxygen
•NOx
•Speed
•Inertial

oAccelerometers
oGyroscopes

Automotive Sensors Market by Applications (Revenue, USD Million; 2020–2028)

•Powertrain
•Chassis
•Exhaust
•Safety & control
•Body electronics
•Telematics
•ADAS
•Others

Automotive Sensors Market by Vehicle Type (Revenue, USD Million; 2020–2028)

•Passenger Vehicle
•Light Commercial Vehicle (LCV)
•Heavy Commercial Vehicle (HCV)

Automotive Sensors Market by Propulsion (Revenue, USD Million; 2020–2028)

•Electric Vehicles
•Gasoline Powered

Automotive Sensors Market by Applications (Revenue, USD Million; 2020–2028)

•Powertrain
•Chassis
•Exhaust
•Safety & control
•Body electronics
•Telematics
•ADAS
•Others

Automotive Sensors Market by Vehicle Type (Revenue, USD Million; 2020–2028)

•Passenger Vehicle

o Mid-sized car
o Sedan
o Minivan
o Convertible
o Crossover
o Hatchback
o Others

•Light Commercial Vehicle (LCV)

o Compact
o Utility Vehicle
o Supermini
o Light Truck
o Others

• Heavy Commercial Vehicle (HCV)

o Mobile Truck
o Limo
o Recreational Vehicle
o Towing Truck
o Fire Trucks
o Others

Automotive Sensors Market by Propulsion (Revenue, USD Million; 2020–2028)

• Electric Vehicles
o Battery Electric Vehicle
o Fuel Cell Electric Vehicle
o Hybrid Electric Vehicle
o Plug-in Hybrid Electric Vehicle
• Gasoline Powered

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Automotive Sensors Market by Region (Revenue, USD Million; 2020–2028)

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Reports and Data
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