The global automotive sensors market is projected to reach a valuation of USD 19.2 billion in 2023, with an estimated growth to USD 44 billion by 2033, reflecting a CAGR of 8.6% during the forecast period.
Recent trends indicate significant growth in the automotive sensors market, driven by the increasing adoption of alternative fuels and vehicles. These advancements not only help lower consumer fuel costs but also enhance national energy security, contributing to market expansion. The rising prevalence of alternative fuel vehicles is expected to further propel growth throughout the assessment period. Additionally, the integration of new systems and technologies in automobiles is anticipated to positively influence market development in the coming years.
Modern vehicle restraint systems now incorporate side airbag pressure sensors, enhancing passenger safety. These sensors, integrated into side doors, transmit digital crash signals to the central airbag unit. Furthermore, air pressure sensors are instrumental in improving engine efficiency by precisely controlling spark advances in both gasoline and diesel engines. As a result, the market is poised for growth, particularly as pressure sensors become more widely used in engine and safety systems.
Looking ahead, the autonomous capabilities of commercially available vehicles are expected to advance rapidly, driven by stricter regulations and safety standards, particularly concerning emergency brake assist and overall vehicle safety. Developed countries already mandate features such as cruise control and lane-keeping assist in all vehicles, with regulations for blind-spot monitoring gaining traction, especially in Europe.
To enable advanced features like adaptive cruise control, vehicles rely on long-range radar sensors, along with approximately two medium-range backward-facing radar sensors for blind-spot detection. Additionally, up to 12 ultrasonic sensors are needed for functions such as parking assistance. As demand for autonomous driving features continues to grow, the utilization of high-precision sensors is expected to increase correspondingly.
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Key Takeaways from the Automotive Sensors Market Report:
- The United States automotive sensors market is expected to grow with a CAGR of 8.2% during the forecast period.
- The demand for automotive sensors in India is expected to grow with a CAGR of 8.6% during the forecast period.
- By vehicle type, passenger vehicles are projected to grow with a CAGR of 9.4% during the forecast period.
- The market in China is expected to grow with a significant CAGR of 8.4% throughout the forecast period.
Competitive Landscape:
The market for automotive sensors is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players are NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, STMicroelectronics, Texas Instruments Incorporated, Allegro Microsystems, LLC, CTS Corporation, Elmos Semiconductor, Sensata Technologies.
Recent Developments:
- In December 2022, Continental AG revealed its exclusive modules and sensors designed specifically for electromobility. The company showcased its Advanced Driver Assistance Systems (ADAS) integrated into the “CV3” SoC (System on Chip) family, which incorporates artificial intelligence (AI) technology from semiconductor startup Ambarella.
- In November 2022, Infineon Technologies AG launched the XENSIV TLE4971 family as the newest addition to their current sensor series designed for automotive applications. These devices provide accurate magnetic current sensing by utilizing proprietary temperature and stress compensation techniques, eliminating the negative impacts of magnetic cores such as hysteresis or saturation effects.
- In March 2022, CTS Corporation acquired TEWA Temperature Sensors SP. Zo.o. and its subsidiaries. This acquisition strengthens CTS’s temperature sensing platform and enhances its market presence in Europe.
Automotive Sensors Market Segmentation:
By Sensor Type:
- Position Sensors
- Clutch Position Sensors
- Gear Position Sensors
- Throttle Position Sensors
- Crankshaft Position Sensors
- Steering Angle Position Sensors
- Camshaft Position Sensors
- Safety Sensors
- Seat Belt Sensors
- Brake Switch Sensors
- Door Switch Sensors
- Blind Spot Detection
- Night Vision Sensors
- Light Sensors
- Parking Sensors
- Cruise Control
- Impact Sensors
- Anti-theft Sensors
- Level Sensors
- Fuel Level Sensors
- Coolant Level Sensors
- Oil Level Sensors
- Oxygen Sensors
- Pressure Sensors
- Tire Pressure Sensors
- EGR Pressure Sensors
- Airflow Rate Sensors
- Temperature Sensors
- Engine Coolant Temperature Sensors
- Rain/humidity Sensors
- Oil/Fuel Temperature Sensors
- Battery Temperature Sensors
- Air Temperature Sensors
- Speed Sensors
- Wheel Speed Sensors
- Speedometer
By Vehicle Type:
- Passenger Cars
- Compact
- Midsize
- Luxury
- SUVs
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel:
- Original Equipment Manufacturers
- Original Equipment Supplier Spare Parts
- Independent Aftermarket
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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