Automotive Sensor Market Size to Surpass US$ 44.2 Bn by 2026

Acumen Research and Consulting, Recently Published Report on "Automotive Sensors Market Size, Share, Growth Outlook, Sales, Trends and Forecast, 2019 - 2026"

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Acumen Research and Consulting

Mar 02, 2020, 08:30 ET

LOS ANGELES, March 2, 2020 /PRNewswire/ -- The automotive sensors market is anticipated to surpass around US$ 44.2 Billion by 2026, at approximately 7% CAGR.

A wide range of applications are expected to meet demand for automotive sensors. Micro-engineered silicon devices such as Micro Electro-Mechanical Systems (MEMS) and other solid state technologies will grow rapidly, resulting in low cost high-effective sensors for an increasing variety of physical and chemical variables. Industry data reveal that crash avoidance; security and safety systems are the fastest growing automotive sensor segment. Some of the major segments include the drivetrain system, passenger comfort & convenience, control & safety of vehicles, emission control and future vehicle sensors such as hybrid & hydrogen fuel cell.

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The safety systems for vehicles are designed to safeguard passengers from accidents. They are classified into passive/primary, and active/secondary systems. In effective passive safety systems, many sensors are used, suitable for alerting the driver. Sensors, particularly in the automotive industry, are becoming an integral part of technological advancement.

In developing economies, automotive production in comparison with developed economies is rapidly growing due to increasing urbanization and stable economic conditions. With rising safety concerns for consumers in India and ASEAN countries, more sensors are being incorporated into low-cost vehicles by manufacturers. This is the key factors likely to drive the demand for automotive sensors in the forecast period.

The major factor spurring the market growth at a high rate due to stringent regulation of government which are mandatory the integration of technologies and devices to make sure the safety of passenger and driver while driving. Also, robust growth for the adoption of advanced driver assistance system (ADAS) in new vehicles is the major factor anticipated to grow the automotive sensors market. Furthermore, the use of automotive sensors plays a major role in controlling and monitoring physical processes if any changes occur in the automobiles. The high adoption for automotive sensors is projected to the changing approach of the people towards the safe driving.

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The government of India has made the mandatory installation of some automotive sensors which has increased the usage and demand of automotive sensor in Indian automotive market. For instance, the Union Road Transport Minister has permitted that the seat belts, airbags, and alert system for speeds above 80 kmph, reverse parking sensors, and a manual override of the central locking mechanism for emergencies should be installed for all cars produced after 1 July 2019.

High-value sensing modules such as RADAR, LIDAR, and imaging are quickly integrated in automotive systems. The arrival of electric vehicles will change the quantity and distribution of pressure and magnetic sensors within the car significantly over the long term. Further electric cars would result in fewer pressure sensors and an increase in magnetic sensors to track the battery, position and detect moving parts. Finally, one of the most rapidly changing eras in history is the automotive world. Sensor suppliers are now engaged in a competition in which they have to prepare their cars for the golden age of the automotive world.

Lidar sensor is most important sensor for an autonomous automotive vehicle. Companies like Alphabet, Toyota and Uber rely heavily on Lidar to find self-driving vehicles on detailed maps and to identify such things as pedestrians and other vehicles. Currently, the Lidar and Radar sensors cost thousands of dollars and are limited to niche markets. Major players like Ford and Baidu invests into self-driven cars, while Velodyne, the world's leading manufacturer of Lidar to develop a production unit in San Jose, together have invested $150 million. As a result, Velodyne has achieved breakthrough technology that could be manufactured at very low cost to build Lidar sensors and Quanergy announced that it would produce Lidar solid state sensors at a Massachusetts facility for a targeted cost of $250.

Related Reports

Most common innovations in automotive sensors

Autonomous vehicles: Automobiles with laser beams, cameras and actuators. Every driver is required to sit in the car and provide oral or touch screen instructions and the car drives to the desired destination on it's own.

Versatile cruise control:  aims to take the driving experience out of worry. This uses a chain of built-in sensors, which is special to regulate the car's speed in automatic mode.

Key Players

The players profiled in the report Continental AG, Robert Bosch GmbH, Analog Devices, Inc., STMicroelectronics, Sensata Technologies, Inc., DENSO Corporation, Delphi Automotive PLC, Infineon Technologies AG, and among others.

Key Takeaway

  • Based on type, the image sensors segment of the automotive sensors market is projected to grow at the highest CAGR from 2019 and 2026.
  • Based on application, the telematics segment of the automotive sensors market is projected to grow at the highest CAGR during the forecast period.
  • Europe region is leading the automotive sensors market due to presence of high number of manufacturers.
  • The players profiled in the report Continental AG, Robert Bosch GmbH, Analog Devices, Inc., STMicroelectronics, Sensata Technologies, Inc., DENSO Corporation, Delphi Automotive PLC, Infineon Technologies AG, and among others.

Market Segmentation

Market By Sensor Type

  • Pressure Sensor
  • Temperature Sensor
  • Speed Sensor
  • Position Sensor
  • O2 Sensor
  • NOX Sensor
  • Inertia Sensor
  • Image Sensor
  • Others

Market By Vehicle Type

  • Passenger Car
  • Light Commercial Vehicle (LCV)
  • Heavy Commercial Vehicle (HCV)

Market By Application

  • Powertrain, Chassis
  • Exhaust, Safety & Control
  • Body Electronics
  • Telematics
  • Others

Market By Geography

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)

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