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Automotive passenger vehicle sensors are electronic devices that constantly monitor their surrounding areas and generate information for the vehicle's navigation and other pertinent operational tasks. These sensors in a vehicle play a very important role to determine a dangerous spot, view the surrounding environment, and safely drive the vehicle. Sensors help the vehicle to provide a suitable response such as emergency stop, accelerating/decelerating to turning, and evasive maneuvers. The response is determined by a central software component. In addition, these sensors provide the data for such actions to be taken. This is expected to boost the market growth over the forecast period.
COVID-19 scenario analysis:
The key factors fueling the growth of the automotive passenger vehicle sensors market include the development of an affordable autonomous vehicle sensor and increase in government regulations through different sources to adopt sensors. However, system malfunction and high vehicle & infrastructure costs restrain the growth of the market. Furthermore, partnerships and joint ventures of various automobile giants with LiDAR providers are expected to create lucrative opportunities for the automotive passenger vehicle sensor market.
The automotive passenger vehicle sensor market trends are as follows:
Manufacturers have developed a more affordable product after involving in a price war among the competitors in the market. The development of more affordable radar sensors is expected to offset their sales. These price wars have led to a high level of R&D efforts, bringing the new development of affordable and technologically-advanced autonomous vehicle sensors. However, the low cost of these sensors is driving their increased adoption, thereby driving the growth of the market over the forecast period.
Governments across the globe are promoting the adoption of sensors to maintain the safety of its people while driving a vehicle. Governments of many developing countries encourage their manufacturers and people to adopt these latest technologies. Therefore, these measures are estimated to be beneficial for the automotive passenger vehicle sensor market over the forecast period.
Key benefits of the report:
Questions answered in the automotive passenger vehicle sensor market research report:
Automotive Passenger Vehicle Sensor Market Report Highlights
Aspects | Details |
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By Type |
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By Vehicle |
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By Sales Channel |
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By Application |
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Key Market Players | Valeo, Teledyne OpTech, Continental AG, Tele Tracking Technologies, Brigade Electronics, NXP Semiconductors, Delphi Automotive, Asahi Kasei Corporation, Robert Bosch, TriLumina, Fujitsu |
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