#automotive sensors market

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Automotive Sensors Market SWOT Analysis, Size, Share, Trends, Growth and Forecast 2027

The Insight Partners is offering qualitative and informative market understanding by adding market research titled “Automotive Sensors Market Size, Trends, and Outlook to 2027”. The report focuses on the factors influencing growth, major players, and regional trends. The research offers a calculative assessment of recent developments adhering to prospects such as regions, key segments, and…

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Automotive Sensors Market to Grow with a CAGR of ~8% During 2022-2031

Research Nester published a report titled “Automotive Sensors Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global automotive sensors market in terms of market segmentation source type, vehicle type, application, sales channel, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global automotive sensors market is anticipated to grow with a CAGR of ~8% during the forecast period, i.e., 2022-2031. The market is segmented by vehicle type into passenger cars, light motor vehicle (LMV), and heavy motor vehicle (HMV). Out of these, the passenger cars segment is anticipated to garner the largest revenue by the end of 2031 backed by the rising demand for automobiles worldwide and the increasing supply of passenger cars. In passenger cars, the demand for automotive sensors is expected to increase exponentially following the implementation of stringent regulations mandating the installation of automotive sensors in vehicles. 

The global automotive sensors market is estimated to garner significant revenue by the end of 2031, up from modest revenue in the year 2021. Rising sales of Electric vehicles and luxury cars, increasing disposable income, government regulations related to safety and emissions reduction, pressure sensors used in vehicles, and consumers' preference for safety features are some of the major factors anticipated to drive the growth of the market during the forecast period. Moreover, the global expansion of the automobile industry is further expected to drive the global automotive sensors market during the forecast period. For instance, the Indian automotive industry is expected to grow to a value of USD 250-280 billion through 2026. 

Geographically, the global automotive sensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is projected to garner the largest revenue by the end of 2031. The increase in industrialization, higher per capita incomes, and increased manufacturing of electric passenger cars and electric vehicles are expected to drive the regional market. Additionally, stringent vehicle safety law and increasing customer demand for self-driving vehicles are also expected to encourage sensor integration in cars manufactured in the region. 

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Globally Increasing Number of Road Accidents to Drive the Market Growth

As per the United States Department of Transportation, nearly 2.28 million people suffered injuries in motor vehicle accidents in 2020, compared to 2.74 million in 2019. Furthermore, 38,824 people lost their lives in road accidents in the USA in 2020. 

A growing number of road accidents around the world has led to the development of autonomous emergency braking systems (AEBS) and other safety sensors to help prevent such incidents. An increase in vehicle crashes casualties, the need for fuel-efficient commercial vehicles and the sensorization of cars are expected to drive global automotive sensors market growth during the forecast period.  

However, safety and security risks associated with autonomous vehicles and lack of aftermarkets for automotive sensors are expected to operate as key restraint to the growth of global automotive sensors market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global automotive sensors market which includes company profiling of Avago Technologies, Delphi Automotive LLP, Casco Automotive Groups, Allegro Micro Systems, Inc, CTS Corporation, Infineon Technologies AG, GE Measurement & Control Solutions, Analog Devices Inc., Denso Corporation and Curtiss-Wright. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global automotive sensors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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[automotiveera]

What are Major Factors Responsible for Burgeoning Demand for Automotive Sensors?

The surging integration of advanced driver assistance systems (ADASs) in vehicles is an important factor propelling the demand for automotive sensors across the world. Furthermore, the increasing popularity of autonomous vehicles is significantly boosting the global demand for these sensors. These sensors are incorporated in autonomous vehicles for numerous purposes such as eye tracking, speech recognition, virtual assistance, driver monitoring, gesture recognition, and in natural language interface. Additionally, “the development of ADASs equipped with radar-based detection devices, sensor fusion engine control units (ECUs), and camera-based machine vision systems is tremendously boosting the requirement of automotive sensors”.

Apart from the aforementioned factors, the implementation of stringent vehicular safety polices and regulations by the governments of different countries is another key factor responsible for the soaring adoption of advanced automotive sensors in automobiles throughout the world. For example, the European regulatory bodies have mandated the incorporation of various driving-assistance systems and features in vehicles such as emergency stop signal, advanced emergency braking, lane keeping assist system, tire pressure monitoring device, intelligent speed assistance device, driver drowsiness and attention detection system, and reversing camera system, owing to which, the automotive sensors are being increasingly integrated in vehicles.

This is mainly because of the fact that a majority of the technological innovations and advancements taking place in the automotive sector such as autonomous driving and electrification, are first implemented in the passenger vehicles, on account of their higher utilization all over the world. The major application areas of these sensors are ADASs, chassis, powertrain, and body. Amongst these, the usage of the sensors will be the highest in the ADASs in the forthcoming years, primarily because of the mandatory requirement of certain ADAS features in vehicles in several countries around the world.

Hence, it can be said with surety that the sales of automotive sensors will surge all over the world in the upcoming years, mainly because of the growing popularity of autonomous and electric vehicles and the rising requirement of ADASs and other systems in vehicles across the world.

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Automotive Sensors Market Tracking Report Analysis 2022-2028

The study of the report divides it into several sub-segments and represents the whole automotive industry. An estimation of the revenue generated by the entire automotive industry and its sub-segments are also provided in the report. It decides the factors that affect the demand of the automotive industry rapidly, including methods of development, growth networks, and the product model. The report also points out the greatest prospects for the growth of the automotive market such as forecasting the growth of the market, the launch of new goods, and analysis of the product demand, purchase decisions, several economic factors that are important to determine the trend of Automotive Sensors market, and the attractiveness of the market. The report on the Automotive Sensors market will help in assisting the stakeholders in identifying high-potential customers, such as distributors and manufacturers.

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The Automotive Sensors market report provides information and statistics on market shares, size, restraining factors, and driving factors for the forecast period 2021 to 2028. It also mentions the role of main market players in the automotive industry. The report on Automotive Sensors market evaluates the value of the market report, keeping in mind the application and regional segments, market share, and size while forecasting the market for each product type and application of the Automotive Sensors market in different segments of the report. The research report also mentions some sections of the Automotive Sensors market including opportunities, growth, trend, size, demand, and technology used by prominent players of the market. Then, it gives detailed profiles of the key players as a part of the competitive landscape of the Automotive Sensors market.

The main aim of the Automotive Sensors report is to give the map of the growth for the Automotive Sensors market that will help in providing the clients with the required information for the formulation strategies to meet their respective business goals. The report also provides deep knowledge of the Automotive Sensors for the previous year as well as for the forecast years and what the CAGR level of the market is going to be. This report is a synopsis of what the market conditions are going to be while also giving information regarding the market’s definition, classifications, applications, and engagements are. This report also aims to analyze the Automotive Sensors market’s developments including the market improvement, market position, and others which are usually done by the prominent players and brands of the automotive industry. This report also consists of all the market drivers and restraints which are obtained through SWOT analysis. The report also has the CAGR values of the Automotive Sensors market for the base years 2021, the historic year 2020, and forecast years 2021-2028.

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Automotive Intelligence Battery Sensor Market size was valued US$ 5.27 Bn in 2022 and the total revenue is expected to grow at 12% from 2023 to 2029, reaching US 11.66 Bn.

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Automotive Steering Torque Sensors Market is Estimated to Witness High Growth Owing to Increasing Demand

Automotive steering torque sensors play an important role in steering systems by directly measuring the rotational forces applied to the steering shaft. They are primarily utilized in advanced driver assistance systems such as electronic power steering, automobile stability control, and anti-lock braking systems. The growing emphasis on vehicle safety and introduction of autonomous driving technologies are expected to drive the demand for automotive steering torque sensors over the forecast period.

The Global Automotive Steering Torque Sensors Market is estimated to be valued at US$ 8589.78 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2031.

Key Takeaways Key players operating in the Automotive Steering Torque Sensors are Robert Bosch Gmbh, Denso Corporation, Crane Electronics, Honeywell International, Sensor Technology, Valeo, TE Connectivity, Kistler Instruments Pvt. Ltd., Norbar Torque Tools Ltd., Bourns, Inc., Advanced Micro Electronics Co. Ltd., Methode Electronics, Inc., and others. The key players are focused on developing innovative torque sensors with enhanced accuracy and durability.

The Automotive Steering Torque Sensors Market Size is expected to create significant opportunities for automotive steering torque sensor manufacturers. Furthermore, the increasing adoption of autonomous vehicles will further propel the demand.

Globally, the Asia Pacific region dominated the market and is expected to exhibit the highest CAGR during the forecast period. China, Japan, and India have emerged as major markets for automotive steering torque sensors owing to increasing automotive production and sales.

Market drivers The increasing demand for advanced driver assistance systems in passenger and commercial vehicles is a major factor driving the growth of automotive steering torque sensors market. Features like stability control, traction control, anti-lock braking help in improving road safety. Furthermore, the growing adoption of electric power steering systems that utilize torque sensor technology is also fueling the market growth. Stringent safety norms especially in European and North American regions have further promoted the integration of torque sensors in vehicle steering systems.

PEST Analysis Political: The Automotive Steering Torque Sensors Market Size And Trends is governed by strict regulations regarding automotive safety and emissions. Manufacturers must comply with regulations for vehicle automation, driver assistance systems and functional safety standards.

Economic: The global economy recovery is driving automotive production and sales which is positively impacting the demand for automotive steering torque sensors. rising disposable incomes in developing countries is increasing vehicle ownership.

Social: Technology features such as driver assistance, autonomous driving, and connected vehicles are increasingly being adopted. Sensors play a key role providing input data to driver assistance systems. Safety and reliability are important considerations for consumers.

Technological: Advancements in sensor design, materials, and manufacturing processes are improving sensor accuracy, response time and durability. Technologies integrating multiple sensors and software are enabling advanced driver assistance and autonomous driving capabilities. Connectivity integration in sensors allows remote diagnostics.

In terms of value, Asia Pacific holds the largest share of the automotive steering torque sensors market due to high production volumes in China, India, Japan and South Korea. Europe is also a major region supported by strong automotive manufacturing presence in Germany, France, Italy and UK.

North America is anticipated to exhibit the fastest growth during the forecast period owing to rising demands for electric and autonomous vehicles in the US and Canada. Government mandates and investments to develop autonomous vehicle infrastructure will drive additional sensor needs in the region. Get More Insights On, Automotive Steering Torque Sensors Market About Author: Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163

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Electric Vehicle Sensors Market will surge to $18.64 Billion by 2033 | BIS Research

The electric vehicle sensors market reached $4.55 billion in 2023 and is projected to achieve a CAGR of 15.14%, reaching $18.64 billion by 2033 during the forecast period of 2023-2033.

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Automotive Sensors Market is Booming to Rapidly Growing by 2027

For existing and emerging players in the Automotive Sensors market, The Insights Partner’s recently released “Study on Automotive Sensors Market – Industry Developments and Future Scope” provides a thorough road map. This research solution addresses the market’s size, share, and projected revenue, among other factors. Automotive Sensors Market research provides reliable insights on factors of…

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Automotive Pressure Sensor Market Valuation to Triple by 2034, Reaching USD 22.6 Billion from USD 7.4 Billion in 2023

The automotive pressure sensor market had an estimated market size of USD 7.4 billion in 2023 and is expected to reach a global market size of USD 22.6 billion by 2034, increasing at a robust CAGR of 10.4% between 2024 and 2034. By 2024, the market for automotive pressure sensors is likely to reach a valuation of USD 8.3 billion.

The market for automotive pressure sensors is being driven by the rapid growth of electrified and driverless vehicles. Accurate pressure sensors play a major role in monitoring tire pressure, hydraulic systems, battery cooling, and other systems in these cars. The market for pressure sensors is expanding as a result of the growing popularity of electric and driverless cars.

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The development of sensors suitable for new automotive trends, such as electric and driverless cars, presents a market potential in the automotive pressure sensor market. Companies may be innovative by developing specific sensors that can track particular metrics that are important to these cars, such as braking force and battery temperature. The value proposition of sensors might be improved by incorporating advanced features like real-time data analytics and predictive maintenance.

Key Takeaways 

The global demand for automotive pressure sensors reached USD 4.4 billion in 2019. The micro-electro mechanical system segment is anticipated to develop at a 10.3% CAGR during the projection period. It is expected that the passenger vehicles segment will attain a 10.1% global market share by 2024. It is projected that automotive pressure sensors in the United States will advance at a CAGR of 10.8% by 2034. The market in the United Kingdom is anticipated to rise through 2034 at an 11.7% CAGR. It is projected that China's automotive pressure sensor ecosystem will evolve at a 10.9% CAGR between 2024 and 2034.

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Competitive Landscape

Prominent companies in the global automotive pressure sensor market utilize innovative technologies including piezoresistive sensing components and microelectromechanical systems (MEMS). In order to attain great precision and reliability in pressure measurement, they include these technologies in their sensor designs.

Companies also use real-time data transfer using wireless connection technologies like Bluetooth as well as RFID. Small sensors may be produced and integrated into a variety of automotive systems as a result of developments in semiconductor manufacturing processes.

Startups in the global automotive pressure sensor market are focused on innovative technologies to address industry concerns. They are utilizing modern technologies like flexible electronics and graphene-based sensors to create small and affordable sensor solutions. In order to meet the changing demands of automakers and customers, companies are also placing a strong emphasis on data analytics and connectivity technologies to offer value-added services like real-time monitoring and predictive maintenance.

Key Developments

In 2024, NXP launched the MCX A14x and A15x family of "all-purpose" microcontrollers. MCX A is a component of the broader MCX family, which utilizes the Arm® Cortex®-M33 core platform. The goal of MCX's founding was to create the next generation of intelligent edge devices by combining the greatest aspects of well-known NXP products with fresh, cutting-edge capabilities. An essential component of the MCX portfolio is scalability. The MCX A Series is the preferred option for all-purpose devices, and it plays a big part in this portfolio