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Automotive Sensors Market
The development of advanced vehicle technologies and the global increase in car sales have led to increased demand for automotive sensors.
Automotive sensors are being increasingly used for a variety of applications, including rain detectors, wipers, lighting, seat adjustments, parking assistance, and radio controls.” - Polaris
market ResearchNEW YORK CITY, NY, UNITED STATES, October 2, 2024 /EINPresswire / -- The research report maps major countries in each region according to their revenue contribution to help businesses identify the top growth opportunities.
The market for automotive sensors is on a growth trajectory. The automotive sensors market size is projected to reach USD 50.76 billion by 2032, exhibiting a CAGR of 6.2% from 2024 to 2032. The market was valued at USD 29.47 billion in 2023.
Market Overview:
Automotive sensors are electronic devices that monitor automobiles and provide crucial information to the vehicle control systems. These sensors are responsible for measuring and monitoring various aspects of the vehicle's performance. Automotive sensors provide information about the temperature, speed, pressure, and several other critical parameters. They draw inspiration from the human sense organs, which receive signals and send them to the brain for decision-making. As such, these sensors work by translating physical quantities into electrical impulses.
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The information from automotive sensors may be sent to the driver or the electronic control unit (ECU). In certain instances, the ECU can make automatic adjustments to the particular vehicle component based on the data received from the sensor. In modern automobiles, the sensors are present everywhere, ranging from the engine to the vehicle's rarely used electrical component. With the growing adoption of internet-connected sensors to improve vehicle safety, the automotive sensors market demand is anticipated to rise.
Market Report Scope:
.Market Size Value in 2023: USD 29.47 billion
.Revenue Forecast in 2032: USD 50.76 billion
.CAGR: 6.2% from 2024 to 2032
.Base Year: 2023
.Historical Data: 2019–2022
.Forecast Period: 2024–2032
Top Market Participants:
The market for automotive sensors is characterized by intense competition. The top market participants rely on advanced technology and a strong brand image to drive revenue growth. Besides, they employ various strategic developments to expand their global reach.
The automotive sensors market key players are:
.Allegro MicroSystems, Inc.
.Continental AG.
.Honeywell International Inc.
.Infineon Technologies
.NXP Semiconductors N.V.
.Panasonic Corporation
.Robert Bosch GmbH
.Sensata Technologies
.The Texas Instruments
Market Drivers and Opportunities:
Demand for Superior Vehicles: The growing customer preferences for improved quality, enhanced performance, and advanced design and technology have led to increased demand for superior vehicles. Besides, the rising living standards and surge in disposable income have contributed to the increased desire for luxury vehicles, impacting the automotive sensors market growth favorably.
Numerous Applications: Automotive sensors are used in a wide range of vehicles, ranging from motorcycles to large trucks and container vehicles. Also, they are used for a wide range of applications, including parking control, seat adjustments, tilt alarms, and trailer management. The ability of these sensors to monitor and regulate engine performance and safety features drives their increased adoption in vehicles.
Computer-Controlled Driving: The top market participants are using advanced computers in their self-driving cars to process information and make several decisions simultaneously. With the rising demand for computer-controlled driving, the need for more advanced sensors become more apparent.
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Regional Insights:
North America: North America accounted for the largest automotive sensors market share in 2023. The increased adoption of several energy efficiency regulations drives the market demand in the region. Also, the increased use of autonomous and electric vehicles further contributes to the demand for various sensor types.
Europe: Europe is anticipated to witness the fastest growth from 2024 to 2032. The region's robust growth is primarily due to the presence of the industrial and automotive industries as the main sectors in Europe. The need for advanced comfort and safety features in vehicles drives the automotive sensors market sales in the region.
Market Segmentation:
By Sensor Type Outlook
.Temperature
.Pressure
.Position
.Level
.Speed
.Force
.Torque
.Others
By Technology Outlook
.MEMS
.Non-MEMS
By Vehicle Type Outlook
.Conventional Vehicles
.Electric Vehicles
By Application Outlook
.Powertrain
.Safety & Control
.Exhaust
.Chassis
.Others
By Region Outlook
.North America (US, Canada)
.Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
.Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
.Latin America (Brazil, Mexico, Argentina)
.Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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FAQs:
What is the expected automotive sensors market size?
The market for automotive sensors is anticipated to grow to USD 50.76 billion by 2032.
Which region contributes notably towards market growth?
North America contributes notably towards the automotive sensors market growth.
Which sensor type accounted for the largest market share in 2023?
The pressure sensor segment accounted for the largest revenue share.
By application analysis, which segment held the highest market share?
The powertrain segment accounted for the highest automotive sensors market share.
Browse PMR's Automotive Sensor Market Report Coverage from Different Publications:
Automotive Sensors Market Size to Reach USD 50.76 Billion By 2032, at 6.2% CAGR | Polaris Market Research
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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Polaris Market Research and Consulting
+1 929-297-9727
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