The global automotive sensors market size is expected to grow from $21.54 billion in 2021 to $24.42 billion in 2022 at a compound annual growth rate (CAGR) of 13.37%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global automotive sensor market size is expected to reach $39.35 billion in 2026 at a CAGR of 12.67%.
What is the Global Automotive Sensors Market?
The automotive sensors market consists of sales of automotive sensor solutions by entities (organizations, sole traders, and partnerships) that are used to detect, transmit, analyse, record, and display information about the vehicle's internal and external surroundings. Automotive sensors are intelligent sensors that monitor the vehicle condition and provide information to the user or automatically make the required changes to the vehicle. Automotive sensors check incoming air temperature, fuel-air mixture, manifold pressure, wheel speed, and others.
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What drives the Global Automotive Sensors Market?
The rising adoption of autonomous vehicles is expected to propel the growth of the automotive sensors market. Autonomous vehicles are driverless vehicles that operate and perform necessary functions on their own without any human intervention. The use of automotive sensors in autonomous vehicles has reduced the driver's stress and increased the productivity of the vehicle. For instance, the global autonomous cars market is projected to grow from $1.64 billion in 2021 to $11.03 billion in 2028 at a CAGR of 31.3% due to the increased demand. Hence, the rising adoption of autonomous vehicles plays an important role in the growth of the automotive sensors market.
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Global Automotive Sensors Market Segments
The global automotive sensors market is segmented:
By Type: Temperature Sensors, Pressure Sensors, Speed Sensors, Level/Position Sensors, Magnetic Sensors, Gas Sensors, Inertial Sensors
By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
By Technology: Nano-Electro-Mechanical Systems, Micro-Electro-Mechanical Systems
By Application Type: Powertrain, Chassis, Exhaust, ADAS, Others
By Geography: The regions covered in the automotive sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Automotive Sensors Global Market Report 2022provides market size and growth forecasts for the global automotive sensors market, global automotive sensors market share, automotive sensors market segments and geographies, automotive sensors market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive sensors market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Automotive Sensors Industry Playersinclude Robert Bosch GmbH, Continental AG, DENSO Corporation, Infineon Technologies AG, Sensata Technologies, Allegro Microsystems Inc, Analog Devices Inc, ELMOS Semiconductor SE, Aptiv plc, NXP Semiconductors N.V., STMicroelectronics N.V., CTS Corporation, Texas Instruments Incorporated, TE Connectivity Ltd, ZF Friedrichshafen, Magna International, Melexis N.V., ON Semiconductor, Amphenol Advanced Sensors, Velodyne LiDAR, Quanergy, Innoviz Technologies, Broadcom Limited, Bosch Sensortec GmBH, Bourns Inc, Delphi Automotive LLP, GE Measurement & Control Solutions, and Vishay Intertechnology Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
