Global Automotive Sensors Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027

Automotive Sensors Market Overview:

The Automotive Sensors Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.

The Automotive Sensors Market report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The Automotive Sensors Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive sensors market report has been segmented on the basis of sensor type, vehicle type, application, and region.

An automotive sensor is a device that checks for fuel-air mixture, incoming air temperature, wheel speed, and manifold pressure by collecting input from the physical environment.

Technological advancements in electronic devices leading to miniaturization of products, growing automotive sales across the globe, and deployment of sensors by manufacturers in luxury vehicles for safety assistance are major factors driving growth of the global automotive sensors market.

In addition, with rising disposable income, and growing spending capacity among individuals in developing countries demand from passenger car owners for vehicles with comfort and advanced safety features are expected to support growth of the global automotive sensors market.

However, the underdeveloped aftermarket is a major factor challenging the growth of automotive sensors market to a certain extent.

Constantly increasing R&D activities by manufacturers and growing demand for advanced driver-assistance systems is expected to create new opportunities in terms of revenue for players operating in the global automotive sensors market over the forecast period.

Asia Pacific market is expected to dominate in the global automotive sensors market with a higher revenue share as compared to that of the other regional markets and is expected to continue its dominance during the forecast period.

This can be attributed to increasing vehicle production, and presence of prominent players operating in countries in this region.

North America and Europe markets account for significant revenue shares in the global automotive sensors market followed by markets in Latin America and the Middle East & Africa respectively.

The market in Europe is projected to register the fastest growth in terms of revenue, owing to rising disposable income, and increasing spending capacity resulting in growing demand from owners of luxury cars, and busses for better comfort and safety.

Global Automotive Sensors Market Segmentation:

By Sensor Type:

• Pressure Sensor
• Temperature Sensor
• Speed Sensor
• Position Sensor
• O2 Sensor
• NOx Sensor
• Inertial Sensor
• Image Sensor

By Vehicle Type:

• Passenger Car
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa