Automotive Sensors Market Size to Reach USD 48.29 Billion In 2027 | Increasing Demand for Vehicle Electrification, Rising Consumer Preference for In-Car Comfort and Safety are Key Factors Fueling Global Industry Demand, says Emergen Research
VANCOUVER, B.C., Aug. 10, 2021 /PRNewswire/ -- The global automotive sensors market size is expected to reach USD 48.29 billion in 2027, according to a current analysis by Emergen Research. Key factors such as rapid advancements in the automotive industry, extensive use of pressure sensors in the automotive sector, increasing production of motor vehicles across the globe, and strict government regulations to reduce carbon emission are driving global market revenue growth.
Automotive sensors are intelligent sensors widely used in automobiles to control, monitor, and process oil temperature, light, heat, and coolant levels to enhance the fuel efficiency of the vehicle and reduce carbon emission. These sensors also help in detecting wheel speed, manifold pressure, incoming air temperature, and fuel-air mixture to analyze overall performance of the vehicle. High revenue growth is attributed to factors such as increasing demand for miniaturization, rapid urbanization, increasing per capita income especially in the developing countries, and rising sales of passenger cars and commercial vehicles.
In addition, increasing demand for electric vehicles, hybrid vehicles in order to reduce fuel consumption, rising adoption of advanced driver-assistance systems, and high deployment of image sensors are supporting growth of the automotive sensors market. Moreover, increasing investments in research and development activities to develop more effective and advanced sensors and high adoption of autonomous driving is expected to boost global market growth going ahead. However, high installation and maintenance cost of these automotive sensors is expected to hamper overall market growth in the coming years.
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Some key highlights in the Report:
- Based on type, the temperature sensors segment is expected to register steady revenue growth throughout the forecast period owing to increasing demand for temperature sensors to monitor temperature of various parameters including transmission fluid, engine oil, or exhaust gas.
- Among the vehicle type, the passenger car segment is expected to account for largest revenue share over the forecast period. Increasing adoption of automotive sensors to improve overall performance of the cars, reduce carbon emission and increase safety of the passengers, rising disposable income, purchasing power and improvements in the standard of living of people are key factors supporting segment revenue growth.
- Based on application, the powertrain segment is expected to register rapid revenue growth during the forecast period. Key factors such as stringent government regulations for emission control, extensive use of sensors in powertrains to monitor speed, gas, temperature, and pressure in order to enhance fuel-efficiency are augmenting segment growth.
- The automotive sensors market in Asia Pacific is expected to register highest revenue growth throughout the forecast period owing to factors such as rising disposable income, increasing concerns about accidents, and increasing consumer inclination towards comfortable, safe, and cost-effective vehicles. In addition low production costs of automobiles, increasing demand for electric vehicles owing to rising concerns about carbon emission, and government initiatives are supporting market growth in Asia Pacific.
- North America is expected to register steady revenue CAGR during the forecast period owing to increasing sales of electric vehicles, growing public awareness about excess carbon emission, and increasing pollution levels.
- Some of the major players operating in the global automotive sensors market include Robert Bosch, Continental AG, Delphi Automotive, Denso Corporation, Infineon Technologies, Sensata Technologies, Allegro Microsystems, Analog Devices, Elmos Semiconductor, and CTS Corporation, among others.
- In January 2020, Bosch launched long-range LiDAR sensors and became the first company to develop lidar system for automotive use.
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For the purpose of this report, Emergen Research has segmented into the global Automotive Sensors Market on the basis of Type, Vehicle Type, Propulsion, Application, and region:
Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Temperature
- Thermocouple
- Thermistor
- MEMS
- Resistance temperature detector
- IC temperature sensor
- Others
- Pressure
- MEMS
- Strain gauges
- Ceramic pressure sensors
- Position
- Angular
- Linear
- Oxygen
- NOx
- Speed
- Inertial
- Accelerometers
- Gyroscopes
- Image
- Complementary Metal Oxide Semiconductors (CMOS)
- Charge-coupled Devices (CCD)
- Radars
- Ultrasonic
- Proximity
- LiDAR
- Others
Vehicle Type Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Passenger Vehicle
- Mid-sized car
- Sedan
- Minivan
- Convertible
- Crossover
- Hatchback
- Others
- Light Commercial Vehicle (LCV)
- Compact
- Utility Vehicle
- Supermini
- Light Truck
- Others
- Heavy Commercial Vehicle (HCV)
- Mobile Truck
- Limo
- Recreational Vehicle
- Towing Truck
- Fire Trucks
- Others
Propulsion Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Electric Vehicles
- Battery Electric Vehicle
- Fuel Cell Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Gasoline Powered
Applications Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- Powertrain
- Chassis
- Exhaust
- Safety & Control
- Body Electronics
- Telematics
- ADAS
- Others
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Regional Outlook (Revenue: USD Billion; Volume: Thousand Units; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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