The global automotive sensor market size is poised to reach USD 9.98 billion by 2027, exhibiting a CAGR of 3.4% during the forecast period 2020 to 2027.
Increased global motor vehicle production, rise in demand for vehicle electrification, formulation of stringent government regulations related to emissions, and an increase in consumer demand for safety and comfort in vehicles are the major factors driving the growth of the automotive sensors market. Increasing demand for advanced driver-assistance systems (ADAS) and ongoing rapid developments in autonomous cars present growth opportunities for the automotive sensors market.
Rising Demand for Human Safety Accelerates Global Automotive Sensors Market
The rising number of fatal accidents is a matter of concern across the globe, this paves way for integrating technologies and devices that are safe for passengers and drivers. Therefore, numbers of features have been gaining popularity, allowing the growth of the global automotive sensors market. Additionally, rising disposable income is expected to increase the demand for automotive sensors.
Furthermore, fast paced life and increasing traffic in public transport has led to the demand for passenger vehicles with automotive sensors are expected to drive the substantial expansion of the global automotive sensors market. Also, features such as radar, image, laser are being introduced to offer safe driving experience with less emission may also add to the growth of the global automotive sensors market.
Swift Technological Advancement to Fuel Automotive Sensors Market
The rising digitalization and fast paced technological advancement and development of innovative sensors with features such as fuel leak detection, position monitoring, current monitoring, etc. is expected to provide impetus to the global automotive sensors market.
Moreover, stringent regulations by the government and pollution control bodies to keep the emission under control is projected to pave way for sensors with pollution level alerts. Further, connected vehicles are increasing the demand for sensors, thus, aiding the expansion of the global automotive sensors market in the forthcoming years.
The only factor that could dampen the global automotive sensors market is high cost of repairs in case of any damage or fault in the sensors is projected to hamper the growth of the global automotive sensors market over the forecast period.
Nonetheless, growing trends of electrification and automation in vehicles is projected to provide growth opportunities in the global automotive sensors market in the upcoming years. Growing preferences and the need for convenience is anticipated to drive the growth in the global automotive sensors market during the next few years.
The Automotive Sensors market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Automotive Sensors market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Automotive Sensors market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Automotive Sensors market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Automotive Sensors market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Automotive Sensors capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Automotive Sensors by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Automotive Sensors market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Automotive Sensors market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Automotive Sensors market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Automotive Sensors industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Automotive Sensors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Automotive Sensors market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Automotive Sensors market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Automotive Sensors market. These factors have benefited the growth of the global market for Automotive Sensors. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Automotive Sensors. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
The report has also covered the key players in the automotive sensor market. Some of the key players are Continental AG, Robert Bosch GmbH., Denso Corporation, and Autoliv, Inc. The prominent players are making efforts in research and development of new and more effective products, which has in turn increased difficulties for the small players in this market.
The global automotive sensors market is segmented into:
In this study, the years considered to estimate the market size of Automotive Sensors are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are: