Home > Automotive & Transportation > Automotive Sensors Market
Industry Trends
Automotive Sensors Market size exceeded USD 30 billion in 2020 and is estimated to grow at over 7.5% CAGR between 2021 and 2030. Rising adoption of hybrid electric vehicles is likely to boost the industry demand. The growth is credited to the growing concern and awareness about environmental pollution by the greenhouse gases emitted from internal combustion engine vehicles.
Hybrid electric vehicles have tangible benefits in terms of low carbon emission, high efficiency, and low maintenance cost. The growing popularity of these vehicles has increased the demand for various automotive sensors such as current sensors, temperature sensors, cell voltage sensors, and other components for battery management systems. The companies in the market are developing efficient battery management systems to control functions of various sensors associated to electric powertrain. For instance, in February 2021, Hella announced the launch of 48V battery management system to monitor the current and power supply in automobiles. This system is designed to collect data from various sensors and control the power supply for e-powertrain.
Get more details on this report - Request Free Sample PDF
The COVID-19 pandemic has had a significant impact on the automotive industry, resulting in the closure of several manufacturing facilities, disruptions in the supply chain, and international trade barriers. Consumer demand has decreased, causing several automakers to reduce their production capacity for new vehicles, limiting market opportunities for automotive sensor suppliers. However, by the middle of 2021, the majority of automotive OEMs intend to restructure their production facilities and increase their investments in automotive sensors, EVs, and autonomous technologies in order to gain a competitive advantage in the automotive sensors market.
Report Coverage | Details |
---|---|
Base Year: | 2020 |
Market Size in 2020: | 30 Billion (USD) |
Forecast Period: | 2021 to 2030 |
Forecast Period 2021 to 2030 CAGR: | 7% |
2030 Value Projection: | 55 Billion (USD) |
Historical Data for: | 2016 to 2020 |
No. of Pages: | 1,378 |
Tables, Charts & Figures: | 2,388 |
Segments covered: | Product, Vehicle Type, Engine Type, Application |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
Get more details on this report - Request Free Sample PDF
Growing adoption of high-resolution cameras for automotive application will spur the image sensors market growth
Get more details on this report - Request Free Sample PDF
The image sensor segment held around 15% of automotive sensors market share in 2020 and is anticipated to register growth rate of above 9% through 2030. Increasing acceptance of vision systems and safety systems in automobiles is augmenting the segment demand.
The major market players are focused on developing innovative and improved sensors with enhanced resolution capacity to increase the performance of e-mirror in automotive applications. For instance, in July 2021, Samsung Electronics launched their first image sensor designed for automotive application. This sensor offers high dynamic range, advanced decibel, and LED flicker mitigation for surround and rear-view cameras. Moreover, the company is planning to expand the sensors capability for autonomous driving, in-cabin monitoring and camera monitoring systems.
Rising usage of advanced safety technologies in passenger vehicles will drive automotive sensors market revenue
The passenger vehicle segment dominated the market with more than 84% of the revenue share in 2020 and is likely to witness 8% CAGR through 2030. The growth is led by the rising demand for advanced safety systems, electrification, and infotainment systems in vehicles.
The demand for passenger cars is increasing in Germany due to increasing adoption of EVs in the region., These sensors provide numerous advantages such as wide range measurement, improved driving experience, and enhanced fuel efficiency, accelerating the automotive sensors market demand. Various industry participants are engaged in launching new products to cater to the high demand for safety systems in passenger vehicles.
Increasing international standards to reduce CO2 emissions in vehicles to drive market opportunities
Get more details on this report - Request Free Sample PDF
The automotive sensors market from gasoline engine type is expected to observe 6.5% CAGR during 2021 to 2030. The strict international regulations and standards for reducing the greenhouse gas emissions from gasoline engine-based vehicles is spurring the demand. The rising demand for clean and efficient power generation technology is encouraging automotive OEMs to incorporate various sensors, such as temperature, gas, level, and humidity sensors, in engine management systems. Additionally, increased government regulations and programmes aimed at reducing CO2 emissions from vehicles will accelerate market opportunities for automotive gas sensors in gasoline engines.
Growing demand of ADAS technology in autonomous vehicles
Get more details on this report - Request Free Sample PDF
The ADAS & safety system segment accounted for over 40% of the automotive sensors market share in 2020 and is projected to exhibit a growth rate of 9% through 2030. Rising government policies and regulations to integrate ADAS technologies and safety features into new autonomous vehicle models to embrace road safety is fueling the market revenue. For instance, in December 2020, The U.S. Department of Transportation’s National Highway Traffic Safety Administration announced to mandate the integration of automatic emergency braking (AEB) and forward collision warning systems into new passenger vehicles by August 2030.
Increasing development for electric vehicles in South Korea to accelerate the market size
Get more details on this report - Request Free Sample PDF
Asia Pacific automotive sensors market captured nearly 53% of the revenue share in 2020 and will expand at 8.5% CAGR through 2030. The regional growth is driven by the growing adoption of electric vehicles in China, South Korea, and Japan. Several government policies and initiatives encouraging the use of electric vehicles have propelled market potential for automotive sensor makers in the region. For instance, in January 2021, South Korea's Environment Ministry approved an electric vehicle subsidy budget of USD 891.7 million for 2021. EV cars with a price range of less than USD 53,000 will be fully subsidized.
Focus on new strategic initiatives to remain competitive in the industry
Prominent automotive sensors market participants include Robert Bosch GmbH, Infineon technologies, Continental AG, Magna International, Inc., Texas Instruments Incorporated, NXP Semiconductor N.V., among others. These industry players are extensively engaged in new strategies, such as mergers & acquisitions, to accelerate their product offerings and stay competitive in the market.
This market research report on automotive sensor includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2030 for the following segments:
Market, By Product
- Current sensor
- Hall-effect
- Coreless hall
- Cored hall
- Shunt
- Fluxgate
- Magneto-resistive
- Hall-effect
- Pressure sensor
- Temperature sensor
- Speed sensor
- Position sensor
- Camshaft sensor
- Torque sensor
- Angle sensor
- Level sensor
- Gas sensor
- Humidity sensor
- LiDAR sensor
- Infrared sensor
- Ultrasonic sensor
- Radar sensor
- Image sensor
- Others
Market, By Vehicle Type
- Passenger cars
- LCV
- HCV
Market, By Engine Type
- Gasoline
- Diesel
- Hybrid
- Battery electric vehicles
- Fuel cell
Market, By Application
- Powertrain
- Body electronics
- Steering system
- Chassis system
- Others
- ADAS & safety system
- Health, wellness, wellbeing (HWW)
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Latin America
- Brazil
- Mexico
- MEA
- GCC
- South Africa
Frequently Asked Questions (FAQ) :