Automotive Sensors Market
Growth Factors of Automotive Sensors Market
The automotive sensors market size was valued at USD 11.22 billion in 2023, and the market is now projected to grow from USD 11.87 billion in 2024 to USD 22.92 billion by 2032, exhibiting a CAGR of 8.6% during the forecast period of 2024-2032.
The pandemic-induced lockdown and economic downturn affected the automotive sensors market growth negatively. Automotive sensor producers saw that several industries suffered from serious resource constraints for global sourcing and distribution in the year which had a clear negative impact on companies.
The need for automating cars in light of strict safety measures accompanied by increased sensitization is hoped to greatly increase demand for automotive sensors market share. The technologies such as adaptive cruise control, lane-keep assist and parking assistance can be powered by long-range radar, medium-range radar and ultrasonic sensors. With these applications rising, the demand for these sensors is expected to increase gradually as these autonomous capabilities develop.
Also, the rising global trends for safety, comfort and innovative auto innovations is so influencing the market for automotive sensors. New non-contact 3D magnetic sensors increase the level of accuracy and require less space compared to traditional systems. Major players such as STMicroelectronics are already taking 3D gesture sensing to the next level for better concentration on driving. This trend, combined with the growth in vehicle production and the use of connected and autonomous vehicles, is expected to put positive pressure on the market growth, particularly in North America, Europe and South Africa.
Comprehensive Analysis of Automotive Sensors Market
Automotive sensors and the automotive industry are growing exponentially owing to factors such as market segmentation. This market expansion essentially offers comprehensive overviews of the regions based on the supply and demand dynamics affecting the automotive electrical & electronics market. These segmentations are systematically divided into segmented by sensor type, by application type and by vehicle type. The sensor type include, Temperature Sensor, Pressure Sensor, Speed Sensor, Position Sensor and Others. The application type include, Powertrain, Chassis, Exhaust, ADAS and Others. The vehicle type include, Passenger Car, LCV and HCV.
The Asia Pacific region today is worth USD 5.99 billion by 2023 and therefore, is expected to reach USD 12.91 billion in 2032 will be incurred at the rate of 9.3% compound annual growth rate. This has been attributed to factors such as increasing middle-income citizens, the OEM companies have been in a better place to bargain for cheaper prices and cheap workforce. However, recent trends such as increased carnage on the roads through vehicle-related accidents have compelled the formulation of new safety and emission-related policies that affect this market.
The leading companies in the market are very important to the automotive industry by providing industrial prospects guarantees and charting market trends. These players include, Robert Bosch GmbH (Gerlingen, Germany), Infineon Technologies AG (Neubiberg, Germany), STMicroelectronics (Geneva, Switzerland), Continental AG (Hanover, Germany), Denso Corporation (Kariya, Japan), NXP Semiconductors (Eindhoven, Netherlands), Texas Instruments Incorporated (Dallas, U.S.), Allegro Microsystems, LLC (New Hampshire, U.S.), CTS Corporation (Illinois, U.S.), Elmos Semiconductor (Dortmund, Germany) and Sensata Technologies (Attleboro, Massachusetts, U.S.). These market players offer a level playing competition and hence make the business environment quite competitive.
In October 2023, Honeywell proposed the concepts that would ensure safety from EV battery fires. They announced that the lithium-ion battery safety sensors in its vehicles assist in playing an important role in identifying possible causes of battery fires, which could save drivers.
Segmentation Table
Global Automotive Sensors Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 8.6% from 2024 to 2032
Historical Period 2019-2022
Unit Value (USD Billion) & Volume (Thousand Units)
Segmentation By Sensor Type, Application Type, Vehicle Type, and Region
By Sensor Type - Temperature Sensor
- Pressure Sensor
- Speed Sensor
- Position Sensor
- Others
By Application Type - Powertrain
- Chassis
- Exhaust
- ADAS
- Others
By Vehicle Type - Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
By Region - North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, and the Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, and Rest of Asia Pacific)
- Rest of the World
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 4. Key Insights
- 4.1. Merger, Acquisitions, and Partnerships
- 4.2. Growth and Penetration Analysis
- 4.3. Porter’s Five Forces Analysis
- 4.4. PEST Analysis
- 4.5. Technological Developments in Automotive Sensor vehicles
- 4.6. Covid-19 Impact Analysis
- 5. Global Automotive Sensor Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Sensor Type
- 5.2.1. Temperature Sensor
- 5.2.2. Pressure Sensor
- 5.2.3. Speed Sensor
- 5.2.4. Position Sensor
- 5.2.5. Others
- 5.3. Market Analysis, Insights and Forecast – By Application Type
- 5.3.1. Powertrain
- 5.3.2. Chassis
- 5.3.3. Exhaust
- 5.3.4. ADAS
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.4.1. Passenger Car
- 5.4.2. LCV
- 5.4.3. HCV
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Rest of the World
- 6. North America Automotive Sensor Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Analysis – By Sensor Type
- 6.2.1. Temperature Sensor
- 6.2.2. Pressure Sensor
- 6.2.3. Speed Sensor
- 6.2.4. Position Sensor
- 6.2.5. Others
- 6.3. Market Analysis – By Application Type
- 6.3.1. Powertrain
- 6.3.2. Chassis
- 6.3.3. Exhaust
- 6.3.4. ADAS
- 6.3.5. Others
- 6.4. Market Analysis- By Vehicle Type
- 6.4.1. Passenger Car
- 6.4.2. LCV
- 6.4.3. HCV
- 6.5. Market Analysis – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
- 6.5.3. Mexico
- 7. Europe Automotive Sensor Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Analysis – By Sensor Type
- 7.2.1. Temperature Sensor
- 7.2.2. Pressure Sensor
- 7.2.3. Speed Sensor
- 7.2.4. Position Sensor
- 7.2.5. Others
- 7.3. Market Analysis – By Application Type
- 7.3.1. Powertrain
- 7.3.2. Chassis
- 7.3.3. Exhaust
- 7.3.4. ADAS
- 7.3.5. Others
- 7.4. Market Analysis- By Vehicle Type
- 7.4.1. Passenger Car
- 7.4.2. LCV
- 7.4.3. HCV
- 7.5. Market Analysis – By Country
- 7.5.1. U.K.
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Scandinavia
- 7.5.5. Rest of Europe
- 8. Asia Pacific Automotive Sensor Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Analysis – By Sensor Type
- 8.2.1. Temperature Sensor
- 8.2.2. Pressure Sensor
- 8.2.3. Speed Sensor
- 8.2.4. Position Sensor
- 8.2.5. Others
- 8.3. Market Analysis – By Application Type
- 8.3.1. Powertrain
- 8.3.2. Chassis
- 8.3.3. Exhaust
- 8.3.4. ADAS
- 8.3.5. Others
- 8.4. Market Analysis- By Vehicle Type
- 8.4.1. Passenger Car
- 8.4.2. LCV
- 8.4.3. HCV
- 8.5. Market Analysis – By Country
- 8.5.1. Japan
- 8.5.2. China
- 8.5.3. India
- 8.5.4. South Korea
- 8.5.5. Rest of Asia Pacific
- 9. Rest of the World Automotive Sensor Market Analysis, Insights and Forecast, 2019–2032
- 9.1. Key Findings / Summary
- 9.2. Market Analysis – By Sensor Type
- 9.2.1. Temperature Sensor
- 9.2.2. Pressure Sensor
- 9.2.3. Speed Sensor
- 9.2.4. Position Sensor
- 9.2.5. Others
- 9.3. Market Analysis – By Application Type
- 9.3.1. Powertrain
- 9.3.2. Chassis
- 9.3.3. Exhaust
- 9.3.4. ADAS
- 9.3.5. Others
- 9.4. Market Analysis- By Vehicle Type
- 9.4.1. Passenger car
- 9.4.2. LCV
- 9.4.3. HCV
- 10. Competitive Analysis
- 10.1. Key Industry Developments
- 10.2. Global Market Ranking Analysis (2023)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles
- 10.6.
- 10.6.1. Robert Bosch GmbH (Gerlingen, Germany)
- 10.6.1.1. Overview
- 10.6.1.2. Products & services
- 10.6.1.3. SWOT Analysis
- 10.6.1.4. Recent Developments
- 10.6.1.5. Strategies
- 10.6.1.6. Financials (Based on Availability)
- 10.6.2. Infineon Technologies AG (Neubiberg, Germany)
- 10.6.2.1. Overview
- 10.6.2.2. Products & services
- 10.6.2.3. SWOT Analysis
- 10.6.2.4. Recent Developments
- 10.6.2.5. Strategies
- 10.6.2.6. Financials (Based on Availability)
- 10.6.3. STMicroelectronics (Geneva, Switzerland)
- 10.6.3.1. Overview
- 10.6.3.2. Products & services
- 10.6.3.3. SWOT Analysis
- 10.6.3.4. Recent Developments
- 10.6.3.5. Strategies
- 10.6.3.6. Financials (Based on Availability)
- 10.6.4. Continental AG (Hanover, Germany)
- 10.6.4.1. Overview
- 10.6.4.2. Products & services
- 10.6.4.3. SWOT Analysis
- 10.6.4.4. Recent Developments
- 10.6.4.5. Strategies
- 10.6.4.6. Financials (Based on Availability)
- 10.6.5. Denso Corporation (Kariya, Japan)
- 10.6.5.1. Overview
- 10.6.5.2. Products & services
- 10.6.5.3. SWOT Analysis
- 10.6.5.4. Recent Developments
- 10.6.5.5. Strategies
- 10.6.5.6. Financials (Based on Availability)
- 10.6.6. NXP Semiconductors (Eindhoven, Netherlands)
- 10.6.6.1. Overview
- 10.6.6.2. Products & services
- 10.6.6.3. SWOT Analysis
- 10.6.6.4. Recent Developments
- 10.6.6.5. Strategies
- 10.6.6.6. Financials (Based on Availability)
- 10.6.7. Texas Instruments Incorporated (Dallas, US)
- 10.6.7.1. Overview
- 10.6.7.2. Products & services
- 10.6.7.3. SWOT Analysis
- 10.6.7.4. Recent Developments
- 10.6.7.5. Strategies
- 10.6.7.6. Financials (Based on Availability)
- 10.6.8. Allegro Microsystems, LLC (New Hampshire, US)
- 10.6.8.1. Overview
- 10.6.8.2. Products & services
- 10.6.8.3. SWOT Analysis
- 10.6.8.4. Recent Developments
- 10.6.8.5. Strategies
- 10.6.8.6. Financials (Based on Availability)
- 10.6.9. CTS Corporation (Illinois, US)
- 10.6.9.1. Overview
- 10.6.9.2. Products & services
- 10.6.9.3. SWOT Analysis
- 10.6.9.4. Recent Developments
- 10.6.9.5. Strategies
- 10.6.9.6. Financials (Based on Availability)
- 10.6.10. Elmos Semiconductor (Dortmund, Germany)
- 10.6.10.1. Overview
- 10.6.10.2. Products & services
- 10.6.10.3. SWOT Analysis
- 10.6.10.4. Recent Developments
- 10.6.10.5. Strategies
- 10.6.10.6. Financials (Based on Availability)
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