Automotive Sensors Market Analysis

The passenger cars type held 75% of the automotive sensors industry share of the in 2022. Automotive sensors are increasingly fitted in passenger cars considering the rising penetration of advanced safety systems, in-vehicle infotainment systems (IVI), and ADAS in passenger cars. Thus, automotive manufacturers worldwide are introducing novel features such as automated transmission technologies, driver assistance, and head-up displays to address the surging demand for luxury vehicles. The influx of favorable initiatives pertaining to the integration of ADAS for ensuring passenger safety will also spur business statistics.
 

The radar automotive sensors market is estimated to amass USD 10 billion by 2032. Radar sensors are extensively used in vehicles considering the strong ability of radar signals to penetrate through different mediums, such as snow, insulators, cloud and fog. Additionally, these sensors offer exceptional object distance measurement and accurate target velocity determination. Moreover, the advent of autonomous cars is expected to accelerate the demand for these sensors for detection, imaging, ranging, sensing and tracking drive location for seamless navigation and driving experience.
 

The demand for pressure sensors is also expected to gain substantial momentum through 2032 owing to the increasing focus on vehicle safety. Modern car models are increasingly designed with advanced safety features, including better braking systems, tire pressure monitoring systems and collision avoidance systems, adding to positive industry growth.
 

The automotive sensors market from health, wellness & well-being (HWW) applications is poised to reach USD 300 million by 2032. The growing disposable incomes and consumer interest in safer mobility options are encouraging automakers to provide novel in-vehicle functions, such as air purification & workload detection, subsequently adding to the HWW application scope. Automotive sensors are also enabling manufacturers to offer comfortable, safe, and clean driving systems.
 

The APAC automotive sensors market is projected to attain 5% gains through 2032 owing to the growing efforts to reduce automotive carbon emissions in the region. Countries such as China, India and South Korea are experiencing a dramatic surge in electric vehicle sales, subsequently offering lucrative business prospects for the industry. Moreover, the presence of a robust EV infrastructure in APAC countries will accelerate the sale of EVs, thus proliferating the automotive sensors demand.