Car Sensors Market Size, Share, Trends, Growth And Future Scope Analysis by 2023

The increasing sophistication of vehicles has been a boon for the car sensors market which is expected to witness growth at a CAGR of 7% during the forecast period ranging between 2017 and 2023. This calculation has been made by Market Research Future in its newest report on the global automotive sensors market. The growth of the global market at the aforementioned CAGR is expected to lead the market toward an evaluation of USD 35 Bn by the end of 2023. Automotive sensors can be used for a whole number of applications most commonly; they are used to assess the function of various parts of the car. In the event that there is any damage, or sensors detect something, they notify the driver.

Many new cars have intelligent automotive dashboards with increasingly advanced information clusters. Automotive sensors provide the driver with a number of details which can make the driving experience more intuitive and safer. Automotive sensors are used in brakes, for humidity and temperature detection, in engines, the chassis, and several others. These sensors work in an integrated fashion to help the car function at optimum capacity. Common sensors include pressure sensors which check for variations in air pressure in the engine to ensure fuel efficiency and anti-lock brake systems (ABS) for safer braking. These sensors make the automobile safer, more fuel efficient and energy efficient. The demand for automotive vehicles has grown considerably, and the automotive industry has been witnessing a substantial boom. With sophisticated new vehicles being launched, and disposable income increasing in emerging economies of the world, the demand for automobiles has skyrocketed, thus driving the automotive sensors market. Moreover, The high demand for energy efficient and safe vehicles are also expected to drive the automotive sensors market. Market players are investing in increasing existing sensors' efficiency while also working toward the development of new sensors. This is expected to reveal ample market opportunity in the coming years.

However, the market is challenged by the fact that high end-cars are often equipped fully with many different types of sensors while more affordable vehicles tend to have certain types of sensors as optional add-ons. In these situations, the sensors become high cost and as such are expected to slow market growth.

Market Segmentation

The global automotive sensors market has been segmented on the basis of sensor type, technology, vehicle types, and region. Sensor type has been segmented into temperature sensors, speed sensors, position sensors, O2 sensors, pressure sensors, NOx sensors, image sensors, and inertial sensors.

Technology has been segmented into Micro Electro Mechanical Systems (MEMS), and Nano Electro Mechanical Systems (NEMS).

Vehicle types have been segmented into medium end, low end, high end, electric vehicles, heavy vehicles, and others.

Regional Analysis

The Asia Pacific is a leading region in the automotive sensors market. Country-level markets such as China, Japan, and India have large consumer populations with growing purchasing power. Moreover, the region is an automotive hub as it is cheaper for operations and there is also a manufacturing hub present in the region. Meanwhile, the high consistent growth of the automotive market is expected to keep North America in a key role in the market. Several leading market players are present in the region, and there is a high affinity toward driving in the region. Most consumers own their own vehicles in the developed economies of the North American market.

Key Players

MRFR has included various market leaders in the report. Players operating in the market include Broadcom Limited (U.S.), Bosch Sensortech GmBH (Germany), Micronas Semiconductor Inc. (Switzerland), Delphi Automotive LLP (U.K), Denso Corporation (Japan), Bourns Inc. (U.S.), STMicroelectronics (Switzerland), Infineon Technologies AG (Germany), Analog Devices Inc. (U.S.), Continental AG (Germany), GE Measurement & Control Solutions (U.S.), Vishay Intertechnology, Inc. (U.S.), Panasonic Corporation (Japan), Sensata Technologies (U.S.), and TRW Automotive Inc. (U.S.)