Automotive
sensors are the devices, used in automobiles, which detects physical or
chemical quantity such as temperature or position and transduces, indicate or
respond to it. These sensors are made out of semiconductors such as cobalt and
nickel. Automotive sensors are used to increase vehicle performance, safety and
passenger comfort. Sensors are getting improved in terms of quality, smartness
and they are more specific and robust. Further, these sensors are cheaper than
the previous generation sensors. Better system and pleasures are encouraging
people to buy automobiles equipped with sensors. Nowadays, people are inclining
towards safety features such as Auto emergency braking, driver attention
detection, Active cruise control, Airbags (passenger knee, thorax airbag with
head). Government’s legislation and regulations on safety, emission reduction,
fuel economy, driver assistance and onboard diagnosis systems are the factors
which are driving the automotive
sensors market. Automotive industry being one of the largest industries
in the world with a growth rate of 2.8% is encouraging the development of
connected technologies and rising the demand for automotive sensors. Moreover,
the demand of automotive sensors in Asia –Pacific is bolstering the growth rate
of automotive sensors market. In automobile sector, the electronic systems are
expanding on the back of rising number of sensors in automobiles. Thus,
automotive sensors market is expected to showcase a lucrative growth.
Market Size and forecast
The market
is anticipated to expand at a CAGR of 7.8% over the period i.e. 2017-2024. The global automotive sensors market is
expected to reach USD 45.76 billion by 2024.The global automotive sensors
market is expected to rise in terms of demand due to the invention of diverse
sensors along with technological advancement of connected integrated
technologies. Also, high efficiency and cheaper price of new generation sensor
is expected to encourage the market growth.
Asia-Pacific
automotive sensor market is the largest market and expected to dominate over
the next five to six years due to extremely large number of vehicle production,
increasing number of electronic systems, connected technologies and government
regulations on emission. Further, growing consumer awareness is also bolstering
the automotive sensor market in developing countries such as India and China.
Currently, Europe is the second biggest market for automotive sensors and is
expected to remain at its position during the forecast period. Europe
automotive sensor market is anticipated to reach USD 9.73 billion due to
the expanding popularity and demand for electronically connected automobiles.
With the revision in vehicle safety system regulation, safety features such as
advanced braking system, tire pressure management system, driver attention
detection and seatbelt reminders have become necessary for automobile
manufacturers to sell their product in the European Union.
Furthermore,
North America automotive sensors market is expected to reach to USD 9.89
billion by 2024. Moreover, government regulations and awareness among the car
owners about safety and comfort are the major factors which are driving the
automotive sensor market.
Market Segmentation
By Type
·
Temperature
Sensor
·
Position
Sensor
·
Current
Sensor
·
Pressure
Sensor
·
Image
sensor
·
Speed
sensor
·
Gas
Sensor
·
LiDAR
·
MEMS
·
Oxygen
Sensor
·
NOX Sensor
·
Others
Sensors
By Area of
system application
·
Powertrain
·
Chassis
·
Body
By Vehicle
type
·
Medium
vehicle
·
Light
Motor Vehicle (LMV)
·
Heavy
Motor Vehicle (HMV)
By Region
Global
automotive sensors market is further classified on the basis of region as
follows:
·
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
·
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
·
Western
and Eastern Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium,
Netherlands & Luxembourg, Rest of Western Europe) Market size, Y-O-Y growth
& Opportunity Analysis
·
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, South Korea & Rest
of Asia) Market size, Y-O-Y growth & Opportunity Analysis
·
Middle
East and North Africa (MENA) Market Size and Y-O-Y Growth Analysis
Growth
Drivers and Challenges
Rising
concern towards safety and increasing sales of automotive vehicles are the two
major factors which are driving the automotive sensors market. Further, the
expanding market of hybrid and fully electric vehicle is expected to register a
growth in demand of automotive sensors. Beside this, the government regulations
on safety and fuel emission are increasing the growth of global automotive
sensors market. Due to revision in the vehicle safety system in the General
Safety Regulation (EC) No.661/2009, it has become mandatory for automobile
manufacturers to incorporate various safety features such as lane departure
warning systems, tire pressure management system, seatbelt reminder etc. Also,
the numbers of sensors in the automobile are expanding as if now an automobile
is equipped with 60-100 sensors and expected to be equipped with about 200
sensors by 2020. Further, adoption of cruise control system by automobiles
OEM’s is expected to boost the market in near future.
However,
equipping automobiles with various automotive sensors will increase the overall
cost of automobiles which creates a significant challenge for the market
players. With more than 200+ sensors manufacturers, the competition in the
global automotive sensors market is high.
Key players
·
Avago
Technologies
o Company Overview
o Key Product Offerings
o Business Strategy
o SWOT Analysis
o Financials
·
Delphi
Automotive LLP
·
Casco
Automotive Groups
·
Bourns
·
CTS
Corporation
·
Infineon
Technologies
·
GE
Measurement & Control Solutions
·
Analog
Devices Inc.
·
Denso
Corporation
·
Bosch
Sensortec
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The Global
automotive sensors Market is segmented as follows:
·
By
Type Market Size & Y-O-Y Growth Analysis
·
By
Area of System Application Market Size & Y-O-Y Growth Analysis
·
By
Vehicle Type Market Size & Y-O-Y Growth Analysis
·
By
Region Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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Ajay
Daniel
Email:
ajay.daniel@researchnester.com
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