Automotive Sensors Market Share, Size, Gross Margin, Trend, Future Demand, Analysis by Top Leading Player and Forecast Till 2026
The global automotive sensors market will derive growth from
the growing adoption for self-driving cars across the world. According to a
report published by Fortune Business Insights, titled “Automotive Sensor Market Size, Share
& Industry Analysis, By Sensor Type (Temperature Sensor, Pressure Sensor,
Speed Sensor, Position Sensor, Others), By Application Type (Powertrain,
Chassis, Exhaust, ADAS, and Others), By Vehicle Type (Passenger Car, LCV, HCV),
and Regional Forecast, 2019-2026,” the market was valued at 347.6 million units
in 2018 to reach 536.4 million
units by 2026, exhibiting a CAGR
of 5.7% during the forecast
period.
list of prominent companies that are operating in the global
automotive sensors market are:
·
Robert Bosh Gmbh
·
Denso Corporation
·
Valeo Pvt. Ltd
·
Delphi Automotive LLP
·
Hitachi Appliances, Inc.
·
Continental AG Corporation
·
Sensata Technologies Inc.
·
Infineon Technologies AG
·
Autoliv Inc.
·
NXP Semiconductors
·
STMicroelectronics N.V
·
Allegro Microsystems, LLC
·
Analog Devices Inc.
·
Elmos Semi-Conductors
·
CTS Corporation
·
Texas Instruments Inc.
·
Littlefuse Inc.
·
Micronas Semiconductor Inc.
·
Panasonic Corporation
·
Vishay Intertechnology, Inc.
Automotive sensors have witnessed rising popularity in recent
years, owing to growing applications in the automotive and transportation
industry. The demand for this product has increased drastically in recent
years. The advent of sensor-based and AI-driven automobile have opened up a
huge potential for market growth. Variations in product offerings have allowed
applications across diverse domains.
Additionally, the cost-effective nature of these products have
led to a wider adoption across the world. The increasing uses of automotive
sensors in several vehicles including passenger cars, transport vehicles,
commercial, and personal vehicles will create several opportunities for market
growth.
The report encompasses several factors that have contributed
to the growth of the market in recent years. It highlights key aspects of the
market and discusses leading product types, major companies and areas that have
witnessed increased applications. The competitive landscape has been discussed
in detail and companies that are likely to emerge leading have been labelled
out. Furthermore, the report segments the automotive senor market on the basis
of sensor type, applications, vehicle type, and regional demographics. It discusses
the impact of leading segments from each of these criteria.
Recent Product
Innovations Will Lead to Wider Adoption
The report encompasses several factors that have contributed
to the growth of the market in recent years. The growing emphasis on the
research and development of advanced sensors will yield several product
launches. In 2017, Panasonic announced the launch of a new sensor-based system
wherein drowsiness of the user could be detected. The driver would be alerted
and necessary action was taken within no time. This was a major highlight of
the market in recent years.
Panasonic’s latest product helped the company generate a
substantial automotive sensors market revenue. Similarly, in 2018, Denso
Corporation launched advanced vision sensors. These products were capable of
detecting cyclists, pedestrians in dark. Moreover, it could detect driving
lanes depending on the environment of the vehicle. The report includes growth
stimulators, similar to the aforementioned factors and gauges their impact on
the global market.
Rising Production and
Sales of Vehicles to Aid Growth of the Market in Asia Pacific
The report segments the market on the basis of regional
demographics into North America, Latin America, Europe, Asia Pacific, and the
Middle East and Africa. Among these regions, the demand for automotive sensors
is highest in Asia Pacific. Recent advancements in automotive sensor
manufacturing have opened up a huge potential for the growth of the regional
markets of emerging nations such as China, India, and Japan.
The growing adoption of vehicles and increasing rate of
passenger car production will aid the growth of the market in this region. Besides
Asia Pacific, the market in Europe is projected to witness considerable growth,
owing to the growing investment in the research and development of sensor-based
control systems for automobiles. The automotive sensors market in Europe was
valued at 75.3 million units in and is likely to increase further in the coming
years.
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