Global Automotive Sensors Market size is projected to be valued $39.8 Billion by 2024; with a CAGR of 7.1% from 2017 to 2025. In the automotive electronic system, sensors are important component for accurately operating the physical equipment to measure, detect, and transform information to control automotive equipment. Increased production of vehicles with sensor based facilities such as, anti-locking braking systems, engine emissions control, and lighting control systems would show an increased automotive sensors market trend in the future years.
Increasing growth of wireless sensing in automotive application and rising demand for automotive sensors in electric power steering application are the factors supporting the growth of the market. Moreover, growing use of ADAS application also fuel the growth of the market. However, high-cost pressure on OEMs may hinder the market. Additionally, technological advancement in automotive sensors would provide several growth opportunities for the market in the future years.
The global automotive sensors market has been segmented into type, component, and geography. By type, the segment is bifurcated as gas sensor, motion sensor, MEMS sensor, pressure sensor, and temperature sensor. Component is further classified as chassis, body electronics, powertrain, and safety & security.
Based on geographical analysis, automotive sensors market is classified into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. While, Rest of the world covers South America, The Middle East, and Africa.
The major players in the global automotive sensors market are Robert Bosch GmbH, DENSO Corporation, Delphi Automotive PLC, Continental AG, Analog Devices, Inc., Hitachi Appliances Inc., Autoliv Inc., Infineon Technologies AG, Sensata Technologies, Inc., and STMicroelectronics, among others.
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Scope of the Global Automotive Sensors Market