Global Vehicles Intelligence Battery Sensor Market Size, Share & Trends Analysis Report By Vehicle Type, By Technology (Hall-Effect Sensor, MEMS Sensor, and Optical Sensor), By Application, By Regional Outlook and Forecast, 2024 - 2031

Global Vehicles Intelligence Battery Sensor Market Size, Share & Trends Analysis Report By Vehicle Type, By Technology (Hall-Effect Sensor, MEMS Sensor, and Optical Sensor), By Application, By Regional Outlook and Forecast, 2024 - 2031

The Global Vehicles Intelligence Battery Sensor Market size is expected to reach $8.7 billion by 2031, rising at a market growth of 11.8% CAGR during the forecast period.

North America’s market position is the result of a combination of factors, such as the region's high consumer demand for vehicles equipped with the most advanced safety and convenience features, stringent regulatory standards to enhance fuel efficiency and reduce vehicle emissions, and the region's advanced automotive industry. Consequently, the North American region would acquire nearly 27% of the total market share by 2031.

The automotive industry is currently experiencing a substantial transformation as a result of the growing popularity of electric and hybrid vehicles. Furthermore, the performance of electric and hybrid vehicles heavily depends on the state of their batteries. Hence, the increasing vehicle electrification is driving the demand for these sensors.

Additionally, Governments around the world are increasingly focused on environmental sustainability, and as a result, they are implementing stricter emission norms. Similarly, in the United States, the Corporate Average Fuel Economy (CAFE) standards have been progressively tightened to encourage the production of vehicles with higher fuel efficiency and lower emissions. Thus, implementing stringent emission regulations worldwide is a powerful catalyst for adopting technologies like IBS.

However, the initial phase requires substantial funding for research and development to innovate and refine the sensor technology. These high prices might be particularly problematic for smaller vehicle manufacturers because of their high total cost. Hence, the high costs associated with developing, manufacturing, and integrating vehicles intelligent battery sensors.

Vehicle Type Outlook

Based on vehicle type, the market is bifurcated into passenger cars and commercial vehicles. The commercial vehicles segment procured 38% revenue share in the market in 2023. The adoption of IBS technology in commercial vehicles is fueled by the increasing use of telematics and fleet management systems, which benefit from the predictive maintenance capabilities IBS provides, helping prevent unexpected breakdowns and optimize fleet performance.

Technology Outlook

On the basis of technology, the market is classified into Hall-Effect sensor, MEMS sensor, and optical sensor. The MEMS sensor segment recorded 32% revenue share in the market in 2023. MEMS sensors are highly regarded for their compact size, low power consumption, and capacity to incorporate multiple sensing functions into a single device.

Application Outlook

By application, the market is divided into battery management system, start-stop system, regenerative braking system, and others. The start-stop system segment garnered 31% revenue share in the market in 2023. In contemporary vehicles, start-stop systems are becoming more prevalent.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 34% revenue share in the market in 2023. The Asia Pacific region is home to some of the world's largest and most rapidly expanding automotive sectors, including China, Japan, South Korea, and India.

List of Key Companies Profiled

• Robert Bosch GmbH
• Continental AG
• Texas Instruments, Inc.
• Denso Corporation
• HELLA GmbH & Co. KGaA (Forvia SE)
• Infineon Technologies AG
• TE Connectivity Ltd.
• STMicroelectronics N.V.
• NXP Semiconductors N.V.
• Microchip Technology Incorporated

Global Vehicles Intelligence Battery Sensor Market Report Segmentation

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

By Technology

• Hall-Effect Sensor
• MEMS Sensor
• Optical Sensor

By Application

• Battery Management System
• Start-Stop System
• Regenerative Braking System
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA