Global Automotive Sensors Market Size was Valued at USD 22 Billion, and is Expected to Reach USD 37 Billion by 2022, at a CAGR of 7.5% | Valuates Reports™
BANGALORE, India, Dec. 12, 2019 /PRNewswire/ -- AUTOMOTIVE SENSORS MARKET OVERVIEW
Automotive sensors detect, measure, and transmit the information, which helps in analyzing the performance of the vehicles. These sensors utilize IC fabrication technology made on silicon wafers.
Automotive sensors monitor and control the chemical, physical and process changes of the automobiles. Sensors are used to minimize the fuel consumption, reduce onboard weight of vehicle and comply with government regulations towards the passenger's safety.
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Automotive sensors are swiftly gaining popularity among OEM especially in Asia-Pacific. TE Connectivity Ltd. is one of the prevalent manufacturers in global automotive sensor market, helping consumers to get reliable vehicle performance even in extreme conditions. Additionally, need for sensors in powertrain systems is constantly increasing, driven by stringent government regulations to increase fuel efficiency and reduce emissions. However, high cost pressure on OEMs is restraining the market growth. Moreover, advanced technologies and innovations such as advanced driver assistance systems (ADAS), lane departure warning (LDW) systems are likely to open new growth opportunities for players operating in the automotive sensors market.
USE OF AUTOMOTIVE SENSORS IN AUTONOMOUS CARS
Key companies such as Google, Tesla motors and Apple are focused on the research and development of driverless cars, which would propel the market of automotive sensors. For instance, Google's driverless car uses more than 8 different types of sensors namely image, proximity, LDS, bumper mounted radar, gyroscope and altimeters. Autonomous cars offer 10 times more safety. Furthermore, various sensors such as image, radar and laser are being introduced to cater to the increasing consumer demand for driving safety and less emission in automobiles. Thus, the above mentioned factors are expected to drive the global automotive sensor market significantly.
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Automotive Sensor Market By Geography
Automotive Sensor Market By Type
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Automotive Sensor Market By Application
REPORTS COVERING SPECIFIC SUBSETS OF AUTOMOTIVE SENSOR MARKET:
1. Automotive Position Sensor Market:
The global Automotive Position Sensor market can be segmented into North America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is likely to hold a prominent share of the global market due to high vehicle production in the region.
The market in Latin America is anticipated to expand at a substantial growth rate during the forecast period. GDP of countries in Latin America is expanding at a significant growth rate. Moreover, an increase in the number of production plants for passenger and commercial vehicles due to high demand for these vehicles and presence of rapidly expanding economies such as Mexico and Brazil are anticipated to drive the market in the region. The light commercial vehicles sub-segment of the market in North America is expanding at substantial pace due to extensive usage of these vehicles to transport daily goods in the region.
2. Automotive Beam (Photoelectric) Sensor Market:
In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Automotive Beam (Photoelectric) Sensor.
APAC is expected to experience lucrative opportunities for growth. China, South Korea, and India are among the leading countries on the market for photoelectric sensors and during the forecast period are expected to be experiencing significant growth. Applications such as consumer electronics, manufacturing, automotive and textile are a major contributor to market growth.
This report studies the global market size of Automotive Beam (Photoelectric) Sensor, especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
3. Automotive Motion Sensor Market:
Automotive Motion Sensor is a device that detects physical movement on a device or within an environment for car.
The global market size of Automotive Motion Sensor is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.
4. Automotive MEMS (Micro-Electro-Mechanical Systems) Pressure Sensor Market:
MEMS sensors are indispensable in vehicles and electronic devices today. The first versions were used in motor vehicles as pressure sensors and accelerometer. Over time, the largest technology driver for MEMS changed from automotive applications to consumer electronics – dominated by smartphones.
The overall demand for automotive sensors is significantly growing owing to factors such as increasing demand for luxury cars and stringent governmental regulations on automobile safety and emissions. Moreover, increased market penetration of sensors such as LiDAR, radar, cameras, and ultrasonic is a major factor responsible for enhancing the global growth of the market. Increase in sales of Electric Vehicles (EVs) is witnessed worldwide owing to its economic, environmental, and energy benefits over conventional fuel vehicles which is expected to boost the market sales. The decline in sensors prices is also encouraging the automotive manufacturers for the development of automotive sensors for different applications in vehicles such as powertrain, chassis, safety and body.
5. Automotive Radar Market:
The Global Automotive Radar Market is expected to grow from USD 3156.26 Millions in 2018 to USD 12990.27 Millions by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 22.39%.
"Rising government regulations for vehicle safety and increase in adoption of ADAS technology by OEMs is one of the factors largely attributing to the growth of the Global Automotive Radar Market."
6. Automotive Image Sensors Market:
The Global Automotive Image Sensor Market in Latin America is anticipated to expand at a substantial growth rate during the forecast period. GDP of countries in Latin America is expanding at a significant growth rate. Moreover, an increase in the number of production plants for passenger and commercial vehicles due to high demand for these vehicles and presence of rapidly expanding economies such as Mexico and Brazil are anticipated to drive the market in the region. The light commercial vehicles sub-segment of the market in North America is expanding at substantial pace due to extensive usage of these vehicles to transport daily goods in the region.
7. Automotive Laser Headlight System Market:
The Global Automotive Laser Headlight System Market size is is expected to grow 75200 million USD by the end of 2025, growing at a CAGR of 69.8% between 2019 and 2025.
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