Global Automotive Sensors Market is estimated to reach $39.8 Billion by 2024; growing at a CAGR of 7.3% from 2016 to 2024. Automotive sensors enable conversion of physical quantities into electric signals and are capable in controlling the system. Sensors are an essential component that are used for operating the physical equipment to measure, detect, and to transform information to control automotive equipment. There is an Increased adoption of automotive sensors among OEM’s automotive system and raised production of automotive equipment by using several sensors in vehicles such as lighting control systems, anti-locking braking systems, steering systems, engine emissions control, and airbags. These sensors provide safety, comfort to passenger, which further increases the demand of automotive sensor market increases.
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The global automotive sensors market is driven by factors such as increased demand for ADAS applications, need for automotive sensors in electric power steering applications, and high adoption of wireless sensing in automotive sector. Though, increased cost pressure on OEMs could hamper the market growth. Furthermore, adoption of advanced technologies could create market scope in coming years.
The major bifurcations considered in the global automotive sensors market are type, component, and geography. Type segment is categorized into motion sensor, gas sensor, pressure sensor, MEMS sensor, and temperature sensor. Component is further segmented as chassis, safety and security, body electronics, and powertrain.
Based on geographical analysis, automotive sensors market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. While, Rest of the world covers South America, Middle East, and Africa.
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The major key players in the global automotive sensors market are Analog Devices, Inc., Robert Bosch GmbH, Sensata Technologies, Inc., Delphi Automotive PLC, Continental AG, Hitachi Appliances Inc., DENSO Corporation, Autoliv Inc., Infineon Technologies AG, and STMicroelectronics, among others.
The key takeaways from the report:
The report will provide detailed analysis of Global Automotive Sensors Market with respect to major segments such as type, and component
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Automotive Sensors Market has been included in the report
Profile of the key players in the Global Automotive Sensors Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Automotive Sensors Market:
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