Automotive Sensors Market by Type (Level/Position Sensors, Temperature Sensors, Pressure Sensors, Speed Sensors, Gas Sensors, Magnetic Sensors, and Others), Vehicle Type (Passenger Cars, Commercial Vehicles), Application (Powertrain, Chassis, Vehicle Body Electronics, Safety and Security, Telematics, and Others), Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket), and Region 2023-2028
The global automotive sensors market size reached US$ 23.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.4 Billion by 2028, exhibiting a growth rate (CAGR) of 12.10% during 2023-2028. The thriving automotive industry, rising popularity of advanced driver assistance systems (ADAS), and the growing usage of sensing devices represent some of the key factors driving the market.
Automobile sensors are intelligent sensors that are used to process the temperature, oil pressure, and emission and coolant levels. They comprise temperature, gas, speed, pressure, and magnetic sensors. They can be controlled by a computer and can calculate the air density in the engine. They are used to monitor the rotating speed of the crankshaft for controlling fuel injection and engine timing. Automobile sensors also assist in observing the content of exhaust gases for the proportion of oxygen to determine fuel metering strategy and emission controls. They ensure the smooth burning of fuel to avoid damage to rings, head gaskets, and rod bearings in vehicles. Besides this, they are utilized to control various functions, such as turning on or off the early fuel evaporation (EFE) system, retard, spark advance, canister purge, and the flow of exhaust gas recirculation (EGR).
Automotive Sensors Market Trends:
At present, the increasing demand for automotive sensors to provide information on different parameters while ensuring comfort, safety, and security represents one of the key factors supporting the growth of the market. Besides this, there is a rise in the number of vehicles equipped with automotive sensors due to the growing consumer demand for convenience and fuel efficiency across the globe. This, along with the burgeoning automobile industry, is propelling the growth of the market. In addition, the growing integration of automotive sensors in self-driving cars, as more intelligent data processing devices are required to make autonomous decisions, is positively influencing the market. Moreover, the rising popularity of advanced driver assistance systems (ADAS), such as lane departure warnings, adaptive cruise control, and automated parking, is impelling the growth of the market. Apart from this, there is an increase in the utilization of automotive sensors for blind-spot monitoring and close vehicle sensing designed to alert the driver about the presence of another vehicle in an adjacent lane by providing a visual warning indicator in the mirror of doors. This, coupled with the growing employment of sensing devices to monitor wheel speed and occupant position tires inflation, is offering a favorable market outlook. Additionally, the rising application of anti-lock braking system (ABS) to adapt to the road terrain and prevent tire locking and vehicle skidding during high-speed brakes is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global automotive sensors market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type, vehicle type, application, and sales channel.
The report has provided a detailed breakup and analysis of the automotive sensors market based on the type. This includes level/position sensors, temperature sensors, pressure sensors, speed sensors, gas sensors, magnetic sensors, and others. According to the report, position sensors represented the largest segment.
Vehicle Type Insights:
A detailed breakup and analysis of the automotive sensors market based on vehicle type has also been provided in the report. This includes passenger cars and commercial vehicles. According to the report, passenger cars accounted for the largest market share.
Vehicle Body Electronics
Safety and Security
A detailed breakup and analysis of the automotive sensors market based on the application has also been provided in the report. This includes powertrain, chassis, vehicle body electronics, safety and security, telematics, and others. According to the report, powertrain accounted for the largest market share.
Sales Channel Insights:
Original Equipment Manufacturer (OEM)
A detailed breakup and analysis of the automotive sensors market based on the sales channel has also been provided in the report. This includes original equipment manufacturer (OEM) and aftermarket. According to the report, original equipment manufacturer (OEM) accounted for the largest market share.
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for automotive sensors. Some of factors driving the Asia Pacific automotive sensors market included the growing vehicle sales, rising utilization of electric vehicles (EVs), rapid integration of high-value sensing modules in vehicles, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global automotive sensors market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies include Allegro MicroSystems Inc. (Sanken Electric Co. Ltd.), Analog Devices Inc., BorgWarner Inc., Continental AG, CTS Corporation, DENSO Corporation, Hitachi Ltd., Infineon Technologies AG, Littelfuse Inc., NXP Semiconductors N.V., Robert Bosch GmbH, Sensata Technologies Inc., TE Connectivity, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global automotive sensors market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global automotive sensors market?
What are the key regional markets?
Which countries represent the most attractive automotive sensors markets?
What is the breakup of the market based on the type?
Which is the most attractive type in the automotive sensors market?
What is the breakup of the market based on the vehicle type?
Which is the most attractive vehicle type in the automotive sensors market?
What is the breakup of the market based on the application?
Which is the most attractive application in the automotive sensors market?
What is the breakup of the market based on the sales channel?
Which is the most attractive sales channel in the automotive sensors market?
What is the competitive structure of the global automotive sensors market?
Who are the key players/companies in the global automotive sensors market?
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