Enjoy complimentary customisation on priority with our Enterprise License!
The Global Automotive Sensors Market size is forecast to increase by USD 9.90 billion at a CAGR of 6.78% between 2023 and 2028. The automotive sensors market is experiencing significant growth, driven by several key factors. Firstly, the electrification and hybridization of vehicles are increasing the demand for advanced sensors to support these technologies. Secondly, collaborations and partnerships among market players are fostering innovation and expansion. Lastly, the rising disposable income of consumers is fueling automobile demand, thereby boosting the market. These factors collectively contribute to the market's growth and are expected to continue shaping its trajectory in the coming years.
For More Highlights About this Report, Request Free Sample
The automotive industry is undergoing a transformative shift driven by advancements in vehicle automation, autonomous vehicles, and connected cars. Innovations like electric power steering and stringent fuel efficiency standards are enhancing vehicle efficiency and reducing vehicle pollution. Electronic sensors such as temperature, pressure, position, motion, and proximity sensors play crucial roles in ensuring vehicle safety and optimizing vehicle performance. Real-time monitoring and diagnostics facilitated by electronic control units enable feedback control and enhance decision-making processes in vehicle operations. The push towards vehicle electrification and vehicle connectivity is reshaping vehicle systems, offering improved vehicle comfort and safety regulations compliance. As the industry evolves, addressing road accidents and ensuring safety for vulnerable road users remains a priority, underscoring the critical role of technological advancements in shaping the future of automotive transportation.
Electrification and hybridization of vehicles is a key driver propelling the market growth. The growing adoption of electric and hybrid electric vehicles (HEVs) is fueling the demand for automotive sensors designed specifically for these powertrain systems. Sensors for battery management, motor control, regenerative braking, and charging infrastructure monitoring are experiencing significant growth. As vehicles electrify and hybridize, the use of electric motors, batteries, and power electronics necessitates precise monitoring and control.
Various sensors collect data from different automotive systems to provide feedback for optimal performance. Temperature, current, voltage, and position sensors are crucial for monitoring and managing the electric powertrain. The increased electrification and hybridization of vehicles drive a higher demand for sensors, optimizing performance, efficiency, and safety in electric and hybrid vehicles. Consequently, this trend will propel market growth during the forecast period.
The adoption of ADAS systems is a key trend shaping the market. The automotive industry is witnessing a surge in the adoption of advanced driver assistance systems (ADAS) due to a focus on safety and advancements in autonomous driving. ADAS systems employ various sensors like cameras, radar, LiDAR, and ultrasonic sensors to monitor the surroundings and aid drivers with collision warnings, lane departure prevention, blind-spot detection, and pedestrian detection.
Features such as adaptive cruise control, automatic emergency braking, and lane-keeping assist improve road safety. Technological advancements, including better sensors, processing power, and AI algorithms, enhance ADAS accuracy. As a result, the demand for automotive sensors is rising, driving market growth.
High costs associated with ADAS technologies is a major challenge hampering the market growth. The incorporation of ADAS technologies in luxury vehicles is limited due to the high costs of procurement and maintenance. Advanced cruise control systems like ACC can cost over USD 1,500, making them unaffordable for mass-segment vehicles. The high costs are attributed to the manufacturing, sourcing, and marketing of ADAS sensors and components.
Night vision cameras with high-quality resolution are also costly, especially uncooled microbolometer sensors, impacting their adoption in mass-segment vehicles. Additionally, limited governmental support for night vision cameras hinders their adoption. These high costs associated with ADAS sensors and technology may negatively impact the global automotive sensors market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Tenneco Inc.- The company offers automotive sensors such as level sensor, Acceleration sensor, Steering sensor.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the passenger cars segment will be significant during the forecast period. The automotive industry has shown rising demand for automotive sensors in recent years, mainly for passenger cars. Automotive sensors play an important role in modern passenger vehicles, having various advanced features and functions besides enhancing safety, efficiency, and overall driving experience.
Get a glance at the market share of various regions Download the PDF Sample
The passenger cars segment was valued at USD 13.02 billion in 2018. ADAS features have a rising demand in passenger cars. These systems depend on various sensors, including radar, LiDAR, camera, and ultrasonic sensors. Which enables functions like adaptive cruise control, lane departure warning, blind-spot detection, and automatic emergency braking. As ADAS features become more common in passenger cars thus demand for sensors to support these systems continues to grow. In addition, the growing adoption of electric and hybrid vehicles has led to the demand for automotive sensors. These sensors are crucial for monitoring battery health, managing energy efficiency, and ensuring the optimal performance of electric powertrains.
For more insights on the market share of various regions Download PDF Sample now!
APAC is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, the APAC region dominated the global automotive sensors market, holding the highest market share. The APAC region led the global automotive sensors market in 2022 due to industrialization, infrastructure development, and consumer demand for advanced features. Key players like Suzuki and Toyota are based in Japan and South Korea. EVs and HVs require various sensor technologies such as LiDAR, CMOS image sensors, MEMS accelerometers, and battery monitoring systems for functions like battery health, charging status, and in-car infotainment. Customer requirements include driver safety, comfort, and advanced driver-assistance systems like parking sensors, ABS, EBD, and autonomous vehicles. High-performance sensors, AI, IoT technology, and position sensors are essential for EVs and HVs. CO2 emissions are reduced through 5G and 6G connectivity. Vehicle authentication ensures security. Solid-state LiDAR, GPS, and charging systems are also crucial.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
You may also interested in below market reports:
1. Automotive Exhaust Gas Sensors Market: Automotive Exhaust Gas Sensors Market Analysis APAC, Europe, North America, South America, Middle East and Africa - China, US, Japan, Germany, India - Size and Forecast
2. Automotive Engine Sensors Market: Automotive Engine Sensors Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Japan, India, Germany - Size and Forecast
3. Automotive Advanced Driver Assistance System (ADAS) Sensors Market: Automotive Advanced Driver Assistance System (ADAS) Sensors Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, China, Germany, France, Japan - Size and Forecast
The automotive industry is at the forefront of innovation with advancements in vehicle automation, connected cars, and electric power steering reshaping the future of transportation. Stringent fuel efficiency standards and the integration of electronic sensors like temperature, pressure, position, motion, and proximity sensors are enhancing vehicle safety and performance. Addressing challenges such as road accidents and ensuring safety for vulnerable road users remains crucial, prompting continuous updates in safety regulations and vehicle pollution control measures.
Moreover, in developing economies, rising middle-class consumers are driving vehicle sales and adoption of advanced technologies by automotive giants like Infineon Technologies and STMicroelectronics. These developments support vehicle electrification and connectivity, aiming to meet stringent emissions regulations and improve fuel efficiency across all vehicle segments. With a focus on automotive production efficiency and logistics chains, manufacturers are also investing in R&D funding for safety-oriented sensors and advanced driver assistance systems to enhance overall vehicle comfort and reliability. The automotive industry is undergoing rapid evolution driven by technological advancements and consumer demands. Middle class consumers in emerging markets are pivotal, influencing trends like vehicle connectivity, energy-efficient vehicles, and advancements in automotive sensors such as temperature, pressure, position, and motion sensors. These sensors, integrated into the electronic control unit, contribute to engine efficiency, vehicle lighting, and overall comfort characteristics.
In addition, as automotive manufacturers strive for compliance with emission norms and regulatory frameworks, innovations in 3D magnetic sensors, optical systems, and body electronics are enhancing vehicle safety and performance. Technologies like long-range radar, airbag sensors, tire pressure sensors, and rain sensors bolster safety features, alongside central airbag units and vehicle restraint systems. The industry is also focusing on connected vehicles, powertrain sensors, exhaust sensors, and chassis sensors to improve vehicle reliability and maintenance. Original Equipment Manufacturers (OEMs) are leveraging low-cost labor and advanced technologies to innovate in areas like central locking, tire pressure monitoring, driver tiredness alert systems, and manual override systems, ensuring vehicles are safer and more efficient than ever before.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 9.90 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 33% |
Key countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amphenol Corp., Aptiv Plc, Auto DITEX BG Ltd., Dorman Products Inc., Electricfil SA, Faurecia SE, Hitachi Ltd., Mitsubishi Electric Corp., Niterra Co. Ltd., NXP Semiconductors NV, PRENCO Progress and Engineering Corp. Ltd., Robert Bosch Stiftung GmbH, Schaeffler AG, Sensata Technologies Inc., Spectra Premium Industries Inc., TDK Corp., Tenneco Inc., Texas Instruments Inc., Toyota Motor Corp., and Walker Products Inc. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Vehicle Type
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.