After conducting a thorough research of the EV charging cable industry, FMI has released a new report on the electric vehicle sensor market. According to the estimate, the sale of electric vehicle sensors has a current worth of US$ 10,725.11 million in 2024. According to this trend, demand might grow and result in a market valuation of US$ 49.4 Billion with a CAGR of 16.5% by 2034.
The Electric Vehicle (EV) Sensor Market is a significant segment within the automotive industry, providing sensors specifically designed for electric vehicles to monitor various parameters, ensure safety, optimize performance, and enable advanced features. Here’s an overview:
Market Overview: The EV sensor market focuses on sensors used in electric vehicles to measure parameters such as battery state of charge (SoC), temperature, voltage, current, speed, position, and environmental conditions. These sensors play a crucial role in enabling the efficient and safe operation of electric vehicles.
Market Size and Growth: The market size of EV sensors is influenced by factors such as the adoption rate of electric vehicles, technological advancements in sensor technology, government regulations promoting electric vehicle usage, and investments in research and development. As the electric vehicle market continues to expand globally, the demand for EV sensors is expected to grow.
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Types of Sensors: EV sensors encompass a wide range of sensor types, including temperature sensors, current sensors, voltage sensors, position sensors, speed sensors, proximity sensors, and environmental sensors. These sensors are integrated into various vehicle systems such as the battery management system (BMS), powertrain, braking system, and safety systems.
Functionality and Benefits: EV sensors provide real-time data on critical parameters to the vehicle’s electronic control units (ECUs) and onboard computer systems. This data is used for monitoring and controlling the vehicle’s operation, optimizing energy efficiency, ensuring safe operation, and providing feedback to the driver.
Battery Management System (BMS): Sensors are integral components of the BMS in electric vehicles, monitoring battery health, temperature, voltage, and SoC. Accurate monitoring and management of these parameters are essential for maximizing battery life, maintaining performance, and ensuring safety.
“Increased electric vehicle production, technological improvements, and growing popularity of ADAS in passenger vehicles will continue pushing sales of electric vehicle sensors over the forecast period,” says an FMI analyst.
Competition Landscape
Key electric vehicle sensor manufacturers are introducing the most cutting-edge technologies. In addition to this, collaborations, acquisitions, and mergers are expected to remain prominent growth strategies adopted by leading players.
Some of the key electric vehicle sensor manufacturers are Analog Devices Inc., Denso Corporation, Amphenol Advanced Sensors, Infineon Technologies AG, Allegro MicroSystems, LLC, ams AG, Kohshin Electric Corporation LEM, Renesas Electronics Corporation, Sensata Technologies, STMicroelectronics, Melexis, Texas Instruments Incorporated, Vishay Intertechnology Inc, NXP Semiconductors and others.
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Key Segments Covered in Electric Vehicle Sensor Industry Analysis
Product Type:
- Temperature Sensors
- Current Sensors
- Position Sensors
- Pressure Sensors
- Speed Sensors
Sales Channel:
- OEM
- Aftermarket
Propulsion:
- Battery Electric Vehicles (BEVs)
- Hybrid Electric Vehicles (HEVs)
- Plug-In Hybrid Electric Vehicles (PHEVs)
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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