Automotive Sensors Market is expected to grow at a Robust CAGR of 8.3% between 2019-2027 – Leading Players Analog Devices, Continental AG, Delphi Technologies PLC, Denso Corporation
The global automotive sensors market accounted to US$ 8.17 Bn in 2018 and is expected to grow at a CAGR of 8.3% during the forecast period 2019 – 2027, to account to US$ 16.73 Bn by 2027.
Market Insights
Increasing Collaborations between Vehicle Manufacturers and Sensors Manufacturers are Boosting the Automotive Sensors Market
The automotive industry across the globe are constantly facing pressures to integrate their vehicles with advanced electronics and semiconductor components in order to enhance the performance of the vehicles. The rising drift of electrification of vehicles is a major factor boosting the sensors market in automotive industry. Attributing to this, the automobile manufacturers are increasingly partnering with sensors manufacturers to meet the demands of their customers. For instance, in January 2018, Audi AG partnered with ON Semiconductor, to foster On Semiconductor’s innovations and integrate their semiconductors on their newer models, thereby satisfying constantly changing expectations of the consumers in terms of safety, reliability, and performance. The major catalyst for the growth of semiconductors in the automotive industry is attributed to the continuous partnerships between automotive manufacturers and semiconductor manufacturers.
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Global Automotive Sensors Market – Company Profiles
- Analog Devices Inc.
- Continental AG
- Delphi Technologies PLC
- Denso Corporation
- Infineon Technologies AG
- Melexis
- NXP Semiconductor N.V.
- On Semiconductor
- Robert Bosch GmbH
- Texas Instruments Inc.
Types Insights
The global automotive sensors market by type is segmented into LED sensor, image sensor, position sensor, temperature sensor, pressure sensor, MEMS, and others. The most prominent type in automotive sensors market accounted for position sensor segment which is due to significant demand for such sensors in automotive industry. LEDs held the second largest market in 2017, and is anticipated to lose its shares during the forecast period from 2019 – 2027.
Application Insights
The automotive sensors market is categorized on basis of various application such as advanced driver assistance systems, body electronics, infotainment, powertrain, safety systems, chassis and others. ADAS dominated the application segment and the ADAS segment is calculated to continue its dominance year on year till 2027. Increasing number of companies offering advanced driver assistance systems in the current automotive industry is fueling the procurement of semiconductor products associated with the ADAS such as technologically enriched sensors. Safety & security segment captured the second largest global market in 2018 and is followed by chassis segment.
Vehicle Type Insights
The automotive sensors market is grouped based on different types of vehicle as passenger car, lightweight commercial vehicle (LCV), and heavyweight commercial vehicle (HCV). The passenger car segment captured the maximum market share, attributing to the enormous count of passenger car production and the ever-increasing trends of technological up gradation. Also, the quest among the passenger car manufacturers to procure advanced technologies in order to gain customer attraction is harnessing the growth of automotive sensors market through passenger car segment.
Strategic Insights
Market Initiatives was observed as the most adopted strategy in global automotive sensors market. Few of the recent market initiatives are listed below;
2019: Delphi Technologies, a leading advanced automotive propulsion solutions provider, today announces a collaboration with TomTom, a leader in navigation, traffic and map products. The two companies will collaborate on electronic and software applications designed to further optimize vehicle fuel efficiency and emissions through the use of real-time mapping data.
2018: Infineon collaborated with DENSO Corporation, a supplier of advanced automotive technology, components, and systems to accelerate its automotive business. The companies aims to mutually improve systems know-how in both established and new technologies area such as electro-mobility and automated driving.
2017: Analog Devices and Renesas Electronics Collaborate on 77/79-GHz Automotive RADAR Technology to Improve ADAS Applications and Enable Autonomous Vehicles. New RADAR Sensor Demonstrator Includes RH850/V1R-M Microcontroller from Renesas Autonomy™ Platform and Analog Devices’ Drive360™ Advanced 28nm CMOS RADAR Technology.
GLOBAL AUTOMOTIVE SENSORS MARKET SEGMENTATION
Global Automotive Sensors Market – By Type
- LED
- Image Sensor
- Position Sensor
- Temperature Sensor
- Pressure Sensor
- MEMS
- Others
Global Automotive Sensors Market – By Application
- Advanced Driver Assistance Systems (ADAS)
- Body Electronics
- Powertrain
- Safety Systems
- Chassis
- Others
Global Automotive Sensors Market – By Vehicle Type
- Passenger Cars
- Lightweight Commercial Vehicle (LCV)
- Heavyweight Commercial Vehicle (HCV)
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