Automotive Sensors Market Size, Global Opportunities, Share, Growth, Industry Trends to 2027
AutomotiveSensors Market will exhibit a CAGR of 3.0% during the forecast period, andUSD 8,535.6 million by 2027, and the Market value as per 2019 was USD7,858.6 million.
FortuneBusiness Insights™ in a new report, titled, “Automotive SensorsMarket Size, Share & Industry Analysis, By Sensor Type (TemperatureSensor, Pressure Sensor, Speed Sensor, Position Sensor, Others), By ApplicationType (Powertrain, Chassis, Exhaust, ADAS, and Others), By Vehicle Type(Passenger Car, LCV, HCV), and Regional Forecast, 2019-2026.”
Automotive Sensors Market Drivers and Restraint:
Rising Demand for Pressure Sensors to Augment Growth
Tosatisfy passenger car safety requirements, modern automotive restraint systemsutilize side airbag pressure sensors. The pressure sensor is assembled withinthe car side doors and delivers digital crash signals to the central airbagunit. Furthermore, in gasoline and diesel engines, air pressuresensor is used to optimize engine efficiency by effectively controlling sparkadvance. Hence, the increasing applications of pressure sensors in the engineand safety system of the vehicle are anticipated to drive the growth of thismarket.
Increasing Growth of Autonomous Vehicles to Fuel Demand forAutomotive Sensors
Owingto the increasingly stringent regulations and safety tests (in particular,emergency brake assist) and growing awareness regarding vehicle safety, theautonomous capabilities of commercially available vehicles are expected toincrease exponentially over the next few years. For example, functions such ascruise control and lane-keep assist are mandatory on all vehicles in developedcountries with upcoming regulations for blind-spot monitoring, particularly inEurope.
Thesevehicles require long-range radar sensors for features such asadaptive cruise control and around two medium-range backward-facing radarsensors to enable blind spot detection. Furthermore, up to 12 ultrasonicsensors are necessary for features such as parking assistance. Thus, greaterdemand for autonomous driving features is expected to drive the adoption of automotivesensors.
RESTRAINING FACTORS:
High Cost and Limitations under Severe Weather Conditions toRestrain Growth
Owingto the small quantities being produced, achieving cost reduction up to targetlevels for sensors used in ADAS systems has not been possible.Furthermore, the majority of the sensors currently in use in automobiles haverestricted signal bandwidth and measurement range, which creates difficulty indistinguishing between system noise and signals i.e. road obstacles. Also, inless-than-ideal environments such as blizzards or rainfall, tracking movingobjects is especially difficult. Together, these factors are expected torestrain the growth of the market.
List of Key Players Covered in the Automotive Sensors MarketReport:
- Robert Bosch GmbH (Gerlingen, Germany)
- Infineon Technologies AG (Neubiberg, Germany)
- STMicroelectronics (Geneva, Switzerland)
- Continental AG (Hanover, Germany)
- Denso Corporation (Kariya, Japan)
- NXP Semiconductors (Eindhoven, Netherlands)
- Texas Instruments Incorporated (Dallas, US)
- Allegro Microsystems, LLC (New Hampshire, US)
- CTS Corporation (Illinois, US)
- Elmos Semiconductor (Dortmund, Germany)
To gain more insights into the market with a detailed tableof content and figures, Click Here: https://www.fortunebusinessinsights.com/industry-reports/automotive-sensors-market-101690
Some of the key industry developments in the AutomotiveSensors Market Include:
- June 2020 – Vitesco Technologies, the powertrain business area of Continental AG, signed a development partnership with ROHM Semiconductor for silicon carbide power devices. Vitesco will integrate this technology in high-power electronics for electric vehicles.
- April 2020 – Infineon Technologies acquired Cypress Semiconductor, a leading company in semiconductor design and manufacturing. The acquisition enables Infineon to expand its portfolio of automotive semiconductors, sensors, and microcontrollers, among other applications.
- January 2020 – Bosch became the first company to develop long-range lidar sensors, the first lidar system suitable for automotive use.
