AutomotiveSensors Market Analysis
The global automotivesensors market size will touch USD 35 billion at a 7% CAGR between theforecast period 2017- 2023, according to the new Market Research Future (MRFR)analysis. Automotive sensors will help to detect, transmit, and measureinformation that helps to analyze the performance of cars. The sensortechnology helps in detecting events or amends in the environment and thenoffers a corresponding output.
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Various factorsare fuelling the global automotive sensors market share. According to therecent MRFR market estimates, such factors include increased motor vehicleproduction worldwide, demand for automotive sensor technology, demand forvehicle electrification, strict government regulations associated withemissions, and a rise in consumer demand for comfort and safety in cars. Othermarket drivers include increasing use of pressure sensors, an increase indemand for automotive sensors in electric and hybrid cars, demand forcustomized electronic devices, and demand for autonomous cars.
On the contrary,the high development cost of automotive sensors, and the impact of the COVID-19outbreak may deter the global automotive sensors market growth over theforecast period.
MarketSegmentation
The MRFR reporthighlights an inclusive segmental analysis of the global automotive sensorsmarket based on sensor type, technology, and vehicle type.
By sensor type,the global automotive sensors market is segmented into image sensors, inertialsensors, NOx sensors, O2 sensors, position sensors, speed sensors, temperaturesensors, pressure sensors, and others. Of these, the position sensors will leadthe market over the forecast period.
By technology,the global automotive sensors market is segmented into nano-electro-mechanicalsystems (NEMS), and micro-electro-mechanical systems (MEMS).
By vehicle type,the global automotivesensors market is segmented into electrical vehicles, heavy vehicle, highend, medium end, low end, and others.
RegionalAnalysis
By region, theglobal automotive sensors market covers the growth opportunity and recenttrends across Europe, North America, the Asia Pacific (APAC), and the Rest ofthe World (RoW). Of these, the APAC region is predicted to spearhead the marketover the forecast period. The increasing purchasing power of consumers, growingpopulation, increasing per capita income of the middle-class people, cost advantages of OEMs, production of cost-effective andcompact cars, presence of fast-developing economies like India and China, lowautomobile production costs, demand for autonomous vehicles, easy accessibilityof economical labor, safety norms and lenient emission, government initiativesto support FDIs, increase in automobile production, and growing inclination ofconsumers towards luxury, safety, and comfort are adding to the globalautomotive sensors market growth in the region.
In NorthAmerica, the automotive sensors market is predicted to have healthy growth overthe forecast period. Infrastructure development, early adoption of advanceddriving assistance features, and increasing sales of electric vehicles are addingto the global automotive sensors market growth in the region.
The automotivesensors market in Europe is predicted to have sound growth over the forecastperiod. Growing demand for safer and more efficient cars, safety and fuelefficiency norms, and safety regulations for commercial vehicles are adding tothe global automotive sensors market growth in the region.
The automotivesensors market in the Rest of the World is predicted to have steady growth overthe forecast period.
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Key Players
Key contendersprofiled in the global automotive sensors market report include VishayIntertechnology, Inc. (U.S.), TRW Automotive Inc. (U.S.), Sensata Technologies(U.S.), Panasonic Corporation (Japan), Micronas Semiconductor Inc.(Switzerland), Continental AG (Germany), Infineon Technologies AG (Germany),STMicroelectronics (Switzerland), GE Measurement & Control Solutions(U.S.), Denso Corporation (Japan), Delphi Automotive LLP (U.K), Bourns Inc.(U.S.), Bosch SensortechGmBH (Germany), Broadcom Limited (U.S.), and AnalogDevices Inc. (U.S.).
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