Automotive Sensors Market Size, Share
The global automotive sensor market size was USD 7.64 billion in 2018 is projected to
The global automotive sensor market size was USD 7.64 billion in 2018 is projected to reach USD 9.94 billion by 2026, exhibiting a CAGR of 3.4% during the forecast period.
As per current automotive sensors market trends, governing bodies globally have imposed stringent regulations on automotive manufacturers to equip various sensors in vehicles owing to the rising number of road accidents, globally. In recent years, majority of cars are equipped with advanced sensors that are connected to the electronic control unit (ECU). ECU consist of software and hardware. Hardware contains a microcontroller chip as the vital component along with electronic components on the printed circuit board (PCB). Inputs that are received from the number of sensors and is processed by the microcontroller in real-time. Majority of vehicles have eliminated the use of pneumatic and mechanical controls and replaced them with electronic sensors that are easy to handle, light in weight, flexible and cheaper than pneumatic and mechanical controls. The electronic control unit has helped to curb emission, eliminate the use of wires, and make the diagnostic of vehicles much easier.
In recent years, vehicles are equipped with advanced sensors like temperature sensors, pressure sensors, speed sensors, inertia sensors, image sensors, and position sensors to make driving more efficient and safer. The temperature sensor monitors the temperature of the engine coolant and sends the temperature data to ECU in form of electric current. The electronic control unit reacts to the change in temperature and adjusts the fuel injection inside the engine. Position sensors are anticipated to dominate the market and maintain its dominance over the forecast period. It helps to detect exact location of the vehicle with the help of global navigation satellite system. This is making very easy for organizations to manage their fleets. The image sensors market is anticipated to show lucrative growth owing to its property detect any obstacle at a long-range and read various road signs even at night and during low visibility. By vehicle type, automotive sensors are fragmented into passenger cars, LCV, and HCV. The passenger car segment is anticipated to dominate the market, owing to the rising demand for sensors that make driving more easy, efficient, and safe.
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There has been an increase in the new automotive sensor systems being set up across various countries. Asia Pacific holds the highest market share amid the high volume of automobile manufacturing in the region. The Asia Pacific has good growth potential during the forecast period increasing installation of sensors in automobiles in the region. The increasing sensor application in vehicles in North America is expected to drive the market further. The automotive sensors market is projected to have good growth rate over the given forecast period accredited to increased installation of various driver assistance systems in the modern-day vehicle.
“Increasing Number of Autonomous Vehicles to Propel the Automotive Sensors Market”
The increasing number of vehicles fortified with autonomous driving sensors will propel the growth of the automotive sensors market. The autonomous driving is achieved by the highly precise and efficient micro-controller sensors. Autonomous vehicles are capable of sensing their environment, and the safe movement is proficient with the help of the sensors. Autonomous vehicles are witnessing demand from consumers; with this, a requirement of integrations of large numbers of sensors, the market is expected to grow at an exponential CAGR over and beyond the forecast period. With the rising demand for autonomous driving is expected to drive the market over the forecast period.
“Advanced Driver Assistance Systems to further fuel the market growth”
The increasing usage of sensors in advanced driver assistance system (ADAS) technology, which helps with the warning, monitoring, steering, and braking tasks will primarily drive the automotive sensors market over the forecast period. Amid stringent safety regulations in place to secure passengers and reduce accidents is expected to drive the installation of ADAS technology in vehicles further fueling the market growth. Technological advancements such as magnetic positioning sensors for application of electronic power steering, the development of the silicon-based sensor, and the improvement of wireless sensing for the automotive will also drive the market.
By Sensor Type Analysis
“The Position Sensor Segment Would Hold the Largest Market Share During the Given Forecast Period”
By type, the automotive sensors market is segmented into temperature sensor, pressure sensor, speed sensor, inertia sensor, image sensor, and position sensor. The position sensor holds a large share of the market and will retain its position over the forecast period. The rising demand for the applications for position sensors such as clutch pedal position sensing, brake pedal position sensing, seat and headrest position, accelerator pedal position sensing, sunroof position, electric roof position, crash sensing, windscreen wiper position, gear shaft sensing, valve position sensing among others would propel the market growth over the forecast period.
The temperature sensor will also show good growth over the forecast period owing to its high-temperature sensing, fast response, and can sense objects in motion.
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The pressure sensor segment will also propel the growth of the market. The pressure sensors are robust in design, small in size, and have a self-generated signal property owing to these capabilities; this will help to propel the pressure sensor segment to grow in the market.
The image sensor segment is also expected to show growth in the market owing to its capability to provide critical directions with updating of maps to the user. To assist the driver for a safer ride, it has paved the way for the other OEMs to equip various types of vision sensors in the vehicle.
By Application Analysis
“The ADAS Segment is Projected to Dominate the Market Over the Forecast Period Amid Extending Applicability in Automobiles”
Based on application, the automotive sensors market is segmented into the powertrain, chassis, exhaust, body electronics, and telematics. The powertrain application segment accounts for the largest share of this market and is anticipated to dominate the market over the forecast period owing to its ability to optimize fuel consumption, which helps in reducing emission and increasing the fuel economy.
The chassis application segment will also show good growth in this automotive sensors market over the forecast period. The reasons behind it are chassis sensor capability to provide safety to the driver, which controls and handles a vehicle with stability.
The exhaust application segment will have good growth over the forecast period. The advanced exhaust sensor performance takes the engine performance to the next level by ensuring less emission of CO2 with efficient fuel consumption by vehicle.
The ADAS application segment will have exponential growth over the forecast period. The ADAS applications provide security and occupant safety; this will drive the growth of the body electronics segment in the market.
The telematics application segment will also show growth in this market over the forecast period. The telematics sensor is majorly used for the safety purpose of getting information regarding the vehicle to the user’s smartphone.
By Vehicle Type Analysis
“Passenger Vehicle Segment is Estimated to Display Considerable Growth Over the Forecast Period”
Based on vehicle type, further, the market has been segmented into a passenger vehicle, light commercial vehicle, and heavy commercial vehicle. The passenger vehicle segment accounts for the largest share of the global market and is anticipated to show dominance in the market over the forecast period. The market dominance is accredited to the increase in production and sales of passenger vehicles in developing regions. Improving the performance of the passenger car with safety and reduction in the emission can be attributed to the use of sensors in passenger cars.
The heavy commercial vehicle segment is also estimated to show significant growth over the forecast period. For the speed limit and capacity measuring, the sensors are used in heavy commercial vehicles, which helps to limit the speed of the vehicle and provides loading capacity to the occupant.
Asia Pacific is expected to dominate the market over the forecast period owing to the rising production and sale of vehicles in this region. Stable economic condition and improving standard of living is the main reason for the sales of vehicle in this region. China is the major player and accounts for the largest share for the automotive sensors market in this region. Other countries like India, Japan, and South Korea have also experienced increase in the installation of automotive sensors. The rise in sensor installation is amid highly stringent safety regulations to install basic safety sensors like speed sensors, which give alert beyond 80kmph, seat belt reminder, parking sensors, and so on.
Europe is projected to hold the second-largest market share in the market amid the presence of key players in this region. High investment in R&D by these players in the Europe, is helping to manufacture more technologically advanced sensors than other regions. This has proven to be a major reason of continued dominance of Europe in the automotive sensors market. Rising road accidents globally has created awareness regarding safe traveling among the consumers, which has forced manufacturers to equip sensors that make traveling safer than before.
Europe Automotive Sensors Market Size, 2018
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North America is expected to show lucrative growth in the market amid stringent government policies towards the safety of the passenger in this region. This has made it essential to install basic sensors (speed, pressure, and position sensors), right from entry-level vehicles. The U.S China trade war has opened the market for local companies to manufacture technologically advanced sensors to compete in the market. Rising government initiatives to offer tax discounts to companies that equip sensors manufactured by local players is anticipated to propel the market. The temperature sensor is expected to propel the market owing to the increasing inclination towards luxury cars in this region. The major countries in this region are the U.S, Mexico, and Canada.
The Rest of the World would witness slow growth as the automotive sensor system is an expensive system. The economic slowdown in underdeveloped countries is expected to hinder the growth of the automotive sensors market.
INDUSTRY KEY PLAYERS
“Market Players like Robert Bosh Gmbh, Denso Corporation, Valeo Pvt. Ltd, Hitachi Appliances, Panasonic Corporation, would ensure to strengthen the market position”
The automotive sensors market is highly fragmented with the presence of lots of competitive players around the world. Robert Bosh Gmbh, Denso Corporation, Valeo Pvt. Ltd, Hitachi Appliances, Panasonic Corporation together constitute major share of the market.
AUTOMOTIVE SENSORS MARKET COMPANIES
- Robert Bosch Gmbh
- Denso Corporation
- Valeo 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.
An Infographic Representation of Automotive Sensors Market
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Along with this, the report provides an elaborative analysis of the global automotive sensors market dynamics and competitive landscape. Various key insights presented in the report are the price trend analysis, recent industry developments in the global Automotive sensors market, such as mergers & acquisitions, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key retail industry trends, competitive landscape and company profiles.
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Report Scope & Segmentation
Volume (Million Units) & Value (USD Billion)
By Sensor type
By Application Type
By Vehicle Type
- In September 2018, Valeo and WABCO signed MOU, which stated Valeo would supply technologically advanced mid and short-range sensors. These mid and short-range sensors consist of solid-state LiDAR and 77Ghz radar, which is expected to develop a technologically advanced ADAS system.
- In July 2017, Panasonic launched drowsiness control technology that helps to predict and detect the drowsiness level of the user. This technology helps to give prediction regarding the transition in users’ drowsiness level depending on the vehicle’s environment. The in-vehicle camera further monitors users’ driving style by using facial expression and blinking features and process these signals with the help of artificial intelligence.
- In January 2018, Denso Corporation developed advanced vision sensors that detect driving lanes, cyclists, pedestrians at night, and various road signs. This vision sensor, when combined with millimeter-wave radar, is helping in emergency braking of the vehicle if it detects any obstacles.