Automotive Sensors Market: Share, Size, Growth Drivers, Trends, Challenges, Growth Rate & Key-players Analysis By Sensors Type (Temperature, Pressure, Speed, Position, MEMS, Magnetic, Gas, Inertia, LiDAR & Others), By Applications & By Vehicle Type with Regional Outlook for Forecast Period 2016-2024

Market Overview        

Automotive sensors are the components used to enhance the vehicle performance, comfort and safety of the passengers. Advancement in technology made the automotive sensors more robust, precise and smart. Better riding experience and advanced technology are the major factors attracting the people to buy automobiles equipped with sensors and smart devices. Inclination of people towards safety features such as driver attention detection systems, airbags, emergency braking and cruise control. Miniaturization and advanced communication capabilities are the major trend driving the global automotive sensors market, which enables the integration of sensors in automobiles without intruding the basic functionality of vehicle. Continuous research and developments to meet the consumer changing preferences has led the manufacturers to improve fabrication techniques and improved sensing abilities at much lower prices, are anticipated to drive market growth. Rising sales of electric and hybrid vehicles are expected to fuel the demand of automotive sensors for battery monitoring. In 2016, more than 2.5 million electric vehicles sold across the globe which is estimated to grow significantly in coming years, providing vast growth opportunities for automotive sensors market.  Additionally, in  future autonomous vehicles are about to hit the roads of North-America and Europe which are incorporated with bundles of sensors which is expected to favorably impact the automotive sensors market. Automotive sensor's demand in aftermarket for retrofitting of advanced systems into existing vehicles is also expected to enhance the demand of sensors in aftermarket.

Market Segmentation

By Sensors Type

• Temperature
• Pressure
• Speed
• Level/Position
• MEMS (Micro electromechanical systems)
• Magnetic
• Gas
• Inertia
• LiDAR (Light Detection And Ranging)
• Others (NOx Sensors etc.)

By Applications

• Powertrain
• Chassis
• Body Electronics
• Vehicle Security Systems
• Alternative Fuel Vehicle
• Telematics

By Vehicle Type

• Passenger Cars
• Commercial vehicles
• Others (Two wheelers)

By Geography

• North America (US, Canada) {Market Share (%), Market Size (USD Million)}
• Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Million)}
• Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Million) }
• Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Million) }
• Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Million) }
• Rest of the World{Market Share (%), Market Size (USD Million) }

Drivers and Restraints to Market Growth

Passenger safety concerns and rising sales of vehicles are the key factors driving the automotive sensors market. In 2016, 96.1 million vehicles were manufactured out of which 95.1 million vehicles were sold in the market. China dominates the global market with more than 20 million sales in 2016. Furthermore, growing market of electric and hybrid cars is expected to boost the demands of automotive sensors. Regulatory mandates and stringent laws on safety and fuel emission by government are the major driving forces for increase demands of automotive sensors. Amendments in general safety regulations for vehicle safety system mandate the automobile manufacturer to equipment the vehicles with safety features such as tire pressure sensors, seatbelt reminders, airbags etc. Overall, the key factors driving the global automotive sensors market include regulatory mandates for fuel emission standards, improving fuel efficiency and necessity of safety systems. Safety, security and advanced driver-assistance systems (ADAS) are the major growth drivers of automotive sensors market. Sensors used for ADAS applications are anticipated to be the major growth segment in global automotive sensors market. Major automotive original equipment manufacturers OEMs and component suppliers adopted the business strategies like acquisitions and strategic investments (venture and M&A) in order to achieve significant business growth in this area. 

Market Size and Forecast to 2024

The global automotive sensors market is expected to increase at a CAGR of 7.8% over the forecast period i.e. 2016-2024. The global automotive sensors market is accounted for USD 24.7 billion in 2016 and anticipated to reach USD 43.7 billion by 2024. The global automotive sensors market is expected to garner significant growth over the forecast period on the back of emerging technologies such as connected cars and autonomous vehicles. By 2030, more than 12 million partially automated vehicles are expected to be sold per year globally, which will provide huge opportunities for the market growth.

Regional Market Share

Asia-pacific region is expected to dominate the global automotive sensors market owing to increasing sales of automobiles, emergence of connected vehicles market and stringent safety and fuel emission regulation by the governments. China has emerged as the largest automotive market in last few years and expected to reach the sales of 30 million vehicles by 2020. Automakers have made massive investments in emerging regions in order to successfully drive the growth of their business.

Asia-pacific is followed by the Europe, which accounts for 22% share in global automotive sensors market. Europe automotive sensors market is growing significantly, as there is high adoption of connected vehicles technology and government mandates to equip the vehicles with safety features such as seat belt warning systems, tire pressure monitoring and mandates to provide E-Call services in cars. North-America also have significant share in the market which is expected to grow at moderate rate backed up by the favorable legal situations and adoption of connected vehicles which accounts for more than USD 7 billion market in 2015.

By 2020, Middle East and Africa is likely to witness strong sales growth of automobiles, the biggest growth is expected to witness in regions such as Iran, Egypt and South Africa. By 2021, more than 2.5 million cars will be produced yearly in ME&A, with output increase of about 50%.

Key Market Players

• Robert Bosch GmbH
• General Electric Company
• Denso Corporation
• Freescale Semiconductor
• Delphi Automotive
• Analog Devices Inc.
• Casco Automotive Group
• Infineon technologies
• Sensata Technologies

Scope Background

Market Synopsis

Market Segmentation

The global automotive sensors market is segmented as follows:

• By Sensors Type (Market Size, Demand Analysis and Growth Analysis)
• By Application Type (Market Size, Demand Analysis and Growth Analysis)
• By Vehicle Type (Market Size, Demand Analysis and Growth Analysis)

Global Automotive Sensors Market Report covered insights of below mentioned regions:

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors
• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks

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