Global Automotive Sensor Market

Automotive Sensor Market Size, Share, Growth Analysis, By Technology(MEMS and non-MEMS technology), By Vehicle type(Electric Vehicles, Heavy Duty Trucks, Heavy-Duty Buses, and Conventional Vehicles), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20D2053 | Region: Global | Published Date: July, 2024
Pages: 202 |Tables: 62 |Figures: 75

Automotive Sensor Market Insights

Global Automotive Sensor Market size was valued at USD 31.36 billion in 2022 and is poised to grow from USD 35.62 billion in 2023 to USD 98.81 billion by 2031, at a CAGR of 13.60% during the forecast period (2024- 2031).

Automotive sensors are an essential component of a vehicle and are intended to detect, transmit, analyse, record, and display information about the vehicle's performance in both its internal and exterior environments. The demand for automotive sensors is anticipated to increase significantly during the projected period as a result of the rising acceptance of vehicle automation and the growing need for connected automobiles around the globe.

Miniaturization and enhanced communication capabilities, which enable their integration into vehicles without interfering with the essential functionality of the vehicle, are the primary developments driving the global market for automotive sensors.

The primary element fueling the market's expansion is the rising demand for safety and security in cars. The market has seen a surge in demand for automotive sensors, which is largely due to the government's increased emphasis on vehicle safety and pollution reduction.

Regulations are driving up demand for automobile sensors in systems including body control, power steering, temperature control, and anti-braking (ABS). As a common option in vehicles, these characteristics are being used by sensor makers.

US Automotive Sensor Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 31.36 billion

Largest Segment

Tablets

Fastest Growth

Tablets

Growth Rate

13.60% CAGR

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Country Share for Asia Pacic Region- 2021 (%)

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Automotive Sensor Market Segmental Analysis

The Global automotive sensor market is segmented into technology and vehicle type. By technology MEMS and non-MEMS technology. On the basis of type of vehicle Automotive Sensor Market is segmented into Electric Vehicles, Heavy Duty Trucks, Heavy-Duty Buses, and Conventional Vehicles. Based on region, the Automotive Sensor Market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.

Automotive Sensor Market Analysis by Technology

The global market for automotive sensors has been divided into MEMS and non-MEMS technology segments. According to technology, the MEMS sector is anticipated to lead the worldwide automotive sensors market. The performance of these sensors typically outperforms that of comparable macroscales. Due to the fact that MEMS sensors are made using the same batch fabrication procedures as semiconductors, their cost per device is substantially lower than that of the analogous macro-device. The demand for MEMS-based sensors is rising as a result of their increased efficiency and decreased production costs.

Automotive Sensor Market Analysis by Type of Vehicle

According to vehicle type, the market for automotive sensors has been divided into two categories: conventional vehicles (passenger cars, light commercial vehicles (LCVs), heavy duty trucks, and heavy-duty buses) and electric vehicles (Passenger Cars and Light Commercial Vehicles). The market for automotive sensors worldwide is dominated by conventional automobiles. Automobiles classified as conventional are those that are propelled by an internal combustion engine (ICE). Since more than a century ago, and for many more to come, propulsion systems have been dependent on ICEs.

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Automotive Sensor Market Regional Insights

The region with the greatest presence on the worldwide market is Asia Pacific. In 2021, the region had a sizable revenue share, and in the years to come, it will continue to develop profitably. Rising demand for vehicles with improved safety features and rising purchasing power in the region are the main causes of this. The need for automotive sensors is particularly high in emerging economies in the Asia-Pacific region, including China and India. The region's large consumer base and efforts to promote the green revolution have expanded the use of sensor technologies notably in the automotive industry.

The other two major revenue generators for the global market for automotive sensors are North America and Europe. Early technological adoption and a high Gross Domestic Product (GDP) are some of the key drivers of the region's expansion. Additionally, the manufacturers have been compelled to incorporate smart sensor technology in the automotive vehicles for regulating and monitoring the gas emission in the atmosphere due to the growing concern for pollution control and environmental safety.

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Automotive Sensor Market Dynamics

Automotive Sensor Market Drivers

Increased Popularity of Electric Vehicles to Bolster Demand for Automotive Sensors

  • Some of the key drivers driving the market expansion include the increasing need for sensors in electric and hybrid vehicles, increased pressure sensor application in the automotive industry, and considerable growth in custom-designed automotive electronic devices.
  • Due to strict government regulations on the emissions of dangerous gases into the environment, the increase in demand for electric vehicles has been dramatically accelerated in recent years.

Automotive Sensor Market Restraints

High Cost to Restrain Market Growth

  • High development costs related to automotive sensors are anticipated to limit market expansion.
  • The pandemic's extensive distribution and outbreak had a detrimental impact on the market for automobile sensors, which led to a drop in demand. Major manufacturers closed their factories, disrupting the supply chain and perhaps hurting market expansion.

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Automotive Sensor Market Competitive Landscape

Due to the rising use of sensor technology in the automotive sector, the global market for automotive sensors presents a significant opportunity for market participants to build their businesses. Another growth strategy that a sizable number of businesses are using to maintain their market share is product creation and enhancement.

Automotive Sensor Market Top Player's Company Profiles

  • Robert Bosch GmbH
  • Continental AG
  • Denso Corporation
  • Aptiv PLC
  • Infineon Technologies AG
  • Texas Instruments Incorporated
  • TE Connectivity Ltd.
  • STMicroelectronics NV
  • NXP Semiconductors NV
  • Analog Devices Inc.
  • Sensata Technologies Holding plc
  • Panasonic Corporation
  • Delphi Technologies PLC
  • ZF Friedrichshafen AG
  • Murata Manufacturing Co. Ltd.
  • Valeo SA
  • Autoliv Inc.
  • Magna International Inc.
  • Mitsubishi Electric Corporation
  • Hella GmbH & Co. KGaA

Automotive Sensor Market Recent Developments

  • In April 2021, Honda released its modern advanced driver-assistance systems ADAS “Honda Sensing Elite” for a special range of vehicles available in Japan. The system has SAE level 3 capabilities and comes with the Traffic Jam pilot module.
  • In November 2021, For city rail transportation, Robert Bosch GmbH created an innovative and cutting-edge driver-assistance system. It alerts the tram driver via a signal in the event of a potential collision. The technology automatically slows the tram until it comes to a complete stop in order to avoid an impact or, at the very least, to lessen damage as much as possible if the driver fails to intervene or does so too late.

Automotive Sensor Key Market Trends

  • In recent years, the industry expansion has also been significantly fueled by public concern about safety and security.
  • Additionally, the constant adoption of cutting-edge technologies in the automotive sector presents a profitable opportunity for the expansion of sensor technology in cars.

Automotive Sensor Market SkyQuest Analysis

SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research

According to our analysis, The automotive business has grown significantly over the past ten years as a result of growing demand from emerging economies and rising disposable income worldwide. Due to the increased rivalry in the automotive sector, the global market for automotive sensors has grown. In addition, rising investment in the Internet of Things, vehicle telematics, and the creation of completely autonomous vehicles are all expected to contribute to a significant increase in the need for automotive sensors.

Another factor propelling the development of the automotive sensors market is the deployment of commercial fleets with enhanced telematics. Sales of cars are, however, just slightly up year over year in the automotive sector. Additionally, the COVID-19 lockdown enforced by regulatory agencies around the world has caused disruption in the global automotive supply chain, which has negatively impacted the market for automotive sensors.

Report Metric Details
Market size value in 2023 USD 31.36 billion
Market size value in 2031 USD 98.81 billion
Growth Rate 13.60%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Technology
    • MEMS and non-MEMS technology
  • Vehicle type
    • Electric Vehicles, Heavy Duty Trucks, Heavy-Duty Buses, and Conventional Vehicles
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Robert Bosch GmbH
  • Continental AG
  • Denso Corporation
  • Aptiv PLC
  • Infineon Technologies AG
  • Texas Instruments Incorporated
  • TE Connectivity Ltd.
  • STMicroelectronics NV
  • NXP Semiconductors NV
  • Analog Devices Inc.
  • Sensata Technologies Holding plc
  • Panasonic Corporation
  • Delphi Technologies PLC
  • ZF Friedrichshafen AG
  • Murata Manufacturing Co. Ltd.
  • Valeo SA
  • Autoliv Inc.
  • Magna International Inc.
  • Mitsubishi Electric Corporation
  • Hella GmbH & Co. KGaA
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Automotive Sensor Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Automotive Sensor Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Automotive Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Sensor Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Sensor Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Automotive Sensor Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Automotive Sensor Market size was valued at USD 31.36 billion in 2022 and is poised to grow from USD 35.62 billion in 2023 to USD 98.81 billion by 2031, at a CAGR of 13.60% during the forecast period (2024- 2031).

Due to the rising use of sensor technology in the automotive sector, the market for automotive sensors presents a significant opportunity for market participants to build their businesses. Another growth strategy that a sizable number of businesses are using to maintain their market share is product creation and enhancement. 'Robert Bosch GmbH', 'Continental AG', 'Denso Corporation', 'Aptiv PLC', 'Infineon Technologies AG', 'Texas Instruments Incorporated', 'TE Connectivity Ltd.', 'STMicroelectronics NV', 'NXP Semiconductors NV', 'Analog Devices Inc.', 'Sensata Technologies Holding plc', 'Panasonic Corporation', 'Delphi Technologies PLC', 'ZF Friedrichshafen AG', 'Murata Manufacturing Co. Ltd.', 'Valeo SA', 'Autoliv Inc.', 'Magna International Inc.', 'Mitsubishi Electric Corporation', 'Hella GmbH & Co. KGaA'

Some of the key drivers driving the market expansion include the increasing need for sensors in electric and hybrid vehicles, increased pressure sensor application in the automotive industry, and considerable growth in custom-designed automotive electronic devices.

In recent years, the industry expansion has also been significantly fueled by public concern about safety and security.

The region with the greatest presence on the worldwide market is Asia Pacific. In 2021, the region had a sizable revenue share, and in the years to come, it will continue to develop profitably. Rising demand for vehicles with improved safety features and rising purchasing power in the region are the main causes of this. The need for automotive sensors is particularly high in emerging economies in the Asia-Pacific region, including China and India. The region's large consumer base and efforts to promote the green revolution have expanded the use of sensor technologies notably in the automotive industry.

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Global Automotive Sensor Market

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