Automotive Sensors Market Trends, Sector Overview and Forecast to 2028

Automotive Sensors Market Trends, Sector Overview and Forecast to 2028

Summary

In 2023, the global sensors market reached at 9.49 bn units with a significant annual growth rate of 9.2%. However, from 2018 to 2023, the sector experienced a compound annual growth rate of 0.7%. Looking ahead, it is expected to achieve a CAGR of 0.1% in the forecast period and reach 9.54 bn units by 2028.​ In 2023, the Safety and Body Control segment had the largest share at 38.4%, and it is projected to increase to 41.6% by 2028. Powertrain and Emission Control had a 32.5% share in 2023 and are expected to account for 25.5% by 2028. Interior Technologies had a share of 6.4% in 2023 and is anticipated to register a share of 7.0% in 2028. Sensors for Electronic Stability Control (ESC) accounted for a share of 5.8% in 2023 and are expected to increase to 6.2% by 2028. Top companies operating in the global sensors market are Continental, Magna, Denso, Gentex, ZF, Valeo and Bosch.

This report brings together multiple data sources to provide a comprehensive overview of the global sensors sector. It includes analysis on the following

Trends & Drivers: Provides an overview of current sector scenario regarding the future outlook in terms of key trends and drivers of the sector.

Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.

PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.

Sector Forecast: Provides deep-dive analysis of global market covering volume growth during 2018–2028, and spot estimates for 2023 and 2028. The analysis also covers regional overview across four regions-Asia-Pacific, Europe, North America, and South America and MEA-highlighting sector size, and growth drivers for the region.

Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.

Patent Analysis: Provides an overview of patent filings in the sector across regions, countries and top applicants.

Scope

This report brings together multiple data sources to provide a comprehensive overview of the global sensors sector. It includes an analysis of the following

Trends & Drivers: Provides an overview of the current sector scenario regarding the future outlook in terms of key trends and drivers of the sector. ​

Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.​

PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.​

Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018–2028, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across four regions-Asia-Pacific, Europe, MEA, North America, and South America -highlighting sector size, and growth drivers for the region.​

Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.​

Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.​

Reasons to Buy

Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region. The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances. The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion. To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.