Today’s modern automobiles have a variety of sensors. You may hear of several of them such as: Throttle position sensor, TPMS sensor. These sensors built into their engine to ensure that the owner can identify and prevent possible issues before they result in breakdowns can result in expensive repairs.
The automotive sensors market, in terms of value, is expected to grow from USD 22.94 Billion in 2016 to USD 39.42 Billion by 2025, at a CAGR of 7.71% between 2018 and 2025. The strict government rules in regards to the fuel emission and safety norms have shaped the automotive industry.
Automotive sensors are swiftly gaining popularity among OEM especially in Asia-Pacific. TE Connectivity Ltd. is one of the prevalent manufacturers in global automotive sensor market, helping consumers to get reliable vehicle performance even in extreme conditions. Additionally, need for sensors in powertrain systems is constantly increasing, driven by stringent government regulations to increase fuel efficiency and reduce emission. However, high cost pressure on OEMs is restraining the market growth. Moreover, advanced technologies and innovations such as advanced driver assistance systems (ADAS), lane departure warning (LDW) systems are likely to open new growth opportunities for players operating in the automotive sensors market.
The global automotive sensor market is categorized on the basis of type and component. Based on type, the market is segmented into pressure sensor, temperature sendsor, motion sensor, gas sensor, micro-electro-mechanical-systems (MEMS) sensor. Out of these, MEMS sensor had a dominant share as compared to the other segments under this category in 2014. In addition, rising application of MEMS sensor in accelerometer, vehicle dynamics control, inertial brake lights, headlight leveling, automatic door locks, and active suspension systems amongst others, are factors responsible for the major contribution of this segment. Development in the field of ’Advance Driver Assistance Systems‘(ADAS) and hybrid and electric vehicle are showing promising the future opportunities for automotive sensors market.
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.