Automotive Sensors Market Overview:
Automotive Sensors Market was valued at $22 billion, and is expected to reach $37 billion by 2022, supported by a CAGR of 7.5%. Automotive sensors detect, measure, and transmit the information, which helps in analyzing performance of the vehicles. These sensors utilize IC fabrication technology made on silicon wafers.
Automotive sensors monitor and control the chemical, physical and process changes of the automobiles. Sensors are used to minimize the fuel consumption, reduce onboard weight of vehicle and comply with government regulations towards the passenger’s safety.
Automotive sensors are swiftly gaining popularity among OEM especially in Asia-Pacific. TE Connectivity Ltd. is one of the prevalent manufacturers in global automotive sensor market, helping consumers to get reliable vehicle performance even in extreme conditions. Additionally, need for sensors in powertrain systems is constantly increasing, driven by stringent government regulations to increase fuel efficiency and reduce emission. However, high cost pressure on OEMs is restraining the market growth. Moreover, advanced technologies and innovations such as advanced driver assistance systems (ADAS), lane departure warning (LDW) systems are likely to open new growth opportunities for players operating in the automotive sensors market.
Major companies profiled in the report include Robert Bosch GmbH (Germany), Denso Corporation (Japan), Valeo Pvt. Ltd (France), Delphi Automotive LLP (UK), Hitachi Appliances Inc. (Japan), Continental AG Corporation (Germany), Sensata Technologies Inc. (US), Infineon Technologies AG (Germany), Autoliv Inc. (US), NXP semiconductors (US), and STMicroelectronics N.V (Switzerland).
Automotive sensors market is segmented on the basis of type, and application. The market also analyzes on the basis of various geographies, which include North America, Europe, Asia-Pacific and LAMEA. North America is further sub segmented into U.S, Canada, and Mexico. Europe covers France, Germany, Italy, U.K and Rest of Europe. The countries covered in Asia-pacific are China, India, South Korea, Japan, and Rest of Asia Pacific. LAMEA includes South America Middle East, and Africa.
Use of Automotive Sensors in Autonomous Cars
Key companies such as Google, Tesla motors and Apple are focused on the research and development of driverless cars, which would propel the market of automotive sensors. For instance, Google’s driverless car uses more than 8 different types of sensors namely image, proximity, LDS, bumper mounted radar, gyroscope and altimeters. Autonomous cars offer 10 times more safety. Furthermore, various sensors such as image, radar and laser are being introduced to cater to the increasing consumer demand for driving safety and less emission in automobiles. Thus, above mentioned factors are expected to drive the global automotive sensor market significantly.
TOP WINNING STRATEGIES
The winning strategies described below are a result of the analysis performed on company profiles of key players in the market. These results are gathered from the recent development of dominant players in the automotive sensors market. The following data is obtained from the press releases by key players of the market. The automotive sensors market is largely driven by acquisitions and products launch strategies.
The study provides an in-depth analysis of the global automotive sensors market to elucidate the prominent investment pockets in the market.
Current trends and future estimations have been outlined to determine the overall attractiveness, and to single out profitable trends to gain a stronger foothold in the market.
The report provides information regarding key drivers, restraints, and opportunities along with their impact analysis.
The market is analyzed based on various regions namely, North America, Europe, Asia-Pacific, and LAMEA.
AUTOMOTIVE SENSORS MARKET SEGMENTATION
Safety & Security
Rest of Europe
Rest of Asia Pacific