The global automotive sensors market is set to reach USD 19.2 billion in 2023 and is projected to grow to USD 44 billion by 2033, reflecting a compound annual growth rate (CAGR) of 8.6% over the forecast period.
This growth is driven by the rising adoption of alternative fuels and vehicles, which help lower fuel costs for consumers and enhance national energy security, thereby boosting market expansion. The increasing prevalence of alternative fuel vehicles is anticipated to further fuel market growth throughout the forecast period. Additionally, the integration of advanced systems and technologies in automobiles is expected to positively impact market development.
Modern vehicle safety systems are increasingly utilizing side airbag pressure sensors to improve passenger protection. These sensors, located in side doors, send digital crash signals to the central airbag control unit. Air pressure sensors also enhance engine efficiency by accurately controlling spark timing in both gasoline and diesel engines. Consequently, the market is likely to grow due to the expanding application of pressure sensors in both engine and safety systems.
Looking ahead, advancements in autonomous vehicle capabilities are expected to accelerate, driven by stricter regulations and safety standards. Features such as emergency brake assist and other safety technologies are becoming more prevalent, particularly in developed countries where regulations mandate features like cruise control and lane-keeping assist in all vehicles. In Europe, there is growing momentum for regulations around blind-spot monitoring.
Autonomous vehicles rely on long-range radar sensors for adaptive cruise control, medium-range radar sensors for blind-spot detection, and up to 12 ultrasonic sensors for parking assistance. As demand for autonomous driving features increases, the use of high-precision sensors is expected to rise accordingly.
Comprehensive Market Insights: Full Report Overview
Key Takeaways from the Automotive Sensors Market Report:
- The United States automotive sensors market is expected to grow with a CAGR of 8.2% during the forecast period.
- The demand for automotive sensors in India is expected to grow with a CAGR of 8.6% during the forecast period.
- By vehicle type, passenger vehicles are projected to grow with a CAGR of 9.4% during the forecast period.
- The market in China is expected to grow with a significant CAGR of 8.4% throughout the forecast period.
Competitive Landscape:
The market for automotive sensors is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.
The key industry players are NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, STMicroelectronics, Texas Instruments Incorporated, Allegro Microsystems, LLC, CTS Corporation, Elmos Semiconductor, Sensata Technologies.
Recent Developments:
- In December 2022, Continental AG revealed its exclusive modules and sensors designed specifically for electromobility. The company showcased its Advanced Driver Assistance Systems (ADAS) integrated into the “CV3” SoC (System on Chip) family, which incorporates artificial intelligence (AI) technology from semiconductor startup Ambarella.
- In November 2022, Infineon Technologies AG launched the XENSIV TLE4971 family as the newest addition to their current sensor series designed for automotive applications. These devices provide accurate magnetic current sensing by utilizing proprietary temperature and stress compensation techniques, eliminating the negative impacts of magnetic cores such as hysteresis or saturation effects.
- In March 2022, CTS Corporation acquired TEWA Temperature Sensors SP. Zo.o. and its subsidiaries. This acquisition strengthens CTS’s temperature sensing platform and enhances its market presence in Europe.
Automotive Sensors Market Segmentation:
By Sensor Type:
- Position Sensors
- Clutch Position Sensors
- Gear Position Sensors
- Throttle Position Sensors
- Crankshaft Position Sensors
- Steering Angle Position Sensors
- Camshaft Position Sensors
- Safety Sensors
- Seat Belt Sensors
- Brake Switch Sensors
- Door Switch Sensors
- Blind Spot Detection
- Night Vision Sensors
- Light Sensors
- Parking Sensors
- Cruise Control
- Impact Sensors
- Anti-theft Sensors
- Level Sensors
- Fuel Level Sensors
- Coolant Level Sensors
- Oil Level Sensors
- Oxygen Sensors
- Pressure Sensors
- Tire Pressure Sensors
- EGR Pressure Sensors
- Airflow Rate Sensors
- Temperature Sensors
- Engine Coolant Temperature Sensors
- Rain/humidity Sensors
- Oil/Fuel Temperature Sensors
- Battery Temperature Sensors
- Air Temperature Sensors
- Speed Sensors
- Wheel Speed Sensors
- Speedometer
By Vehicle Type:
- Passenger Cars
- Compact
- Midsize
- Luxury
- SUVs
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel:
- Original Equipment Manufacturers
- Original Equipment Supplier Spare Parts
- Independent Aftermarket
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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