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A recent report published by Infinium Global Research on automotive sensor market (OEM) provides in-depth analysis of segments and sub-segments in the global as well as regional automotive sensor market (OEM). The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive sensor market (OEM) over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive sensor market (OEM).
In modern vehicles, automotive sensors have become indispensable components that play a vital role in enabling various functions and safety features while providing essential data to onboard computer systems. Original Equipment Manufacturers (OEMs) heavily rely on a diverse range of automotive sensors to optimize fuel efficiency, enhance vehicle performance, and ensure passenger safety. These sensors actively monitor critical parameters such as temperature, pressure, and airflow to regulate engine performance and emissions. They provide crucial data that facilitates fuel injection control, ignition timing, and exhaust gas recirculation. Overall, automotive sensors have become integral to the functioning of modern vehicles, empowering OEMs to enhance safety features, optimize performance, and improve fuel efficiency. Through constant monitoring and data analysis, these sensors contribute significantly to ensuring a smooth and secure driving experience for vehicle occupants.
The market for automotive sensors is witnessing a substantial boost in growth because of the growing consumer demand for enhanced safety and comfort features in vehicles. The increasing awareness among consumers regarding safety while driving has resulted in a greater uptake of advanced safety features in vehicles. Automotive sensors are pivotal components within these safety systems as they provide real-time data and enable proactive measures. According to WHO every year, approximately 1.3 million lives are tragically lost due to road traffic crashes. Consumer demand for a comfortable and convenient driving experience is driving the integration of various comfort features in vehicles using automotive sensors. These sensors enable a range of functionalities such as monitoring cabin temperature and adjusting climate control accordingly, detecting driver fatigue and issuing alerts, and automatically adjusting seats and mirrors based on individual preferences. Further, the increasing popularity of Electric Vehicles (EVs) and Autonomous Vehicles (AVs) is fueling the demand for automotive sensors. The increasing adoption of Electric Vehicles (EVs) and Autonomous Vehicles (AVs) is revolutionizing the automotive industry. EVs, powered by electric motors, rely on advanced sensors to monitor battery performance, optimize energy consumption, and ensure an optimal driving range. However, higher costs associated with advanced sensor technologies, lead to an increase in the overall cost of vehicles which in turn is expected to hamper the market growth. The integration of these sensors into vehicles requires additional investments such as design modifications, wiring, calibration, and stringent quality control measures. These factors contribute to the overall increase in production costs. Moreover, increasing utilization of advanced driver-assistance systems and autonomous vehicles will create ample growth opportunities during the forecast period of 2023-2030. These sensors contribute to the safe navigation, obstacle detection, and decision-making capabilities of autonomous vehicles, driving the demand for advanced sensor technologies in the market.
The automotive sensor market in the Asia Pacific region has been experiencing significant growth in recent years. As one of the largest automotive markets in the world, the region is witnessing a rise in vehicle production, technological advancements, and an increasing focus on safety and driver assistance systems. These factors have propelled the demand for automotive sensors in the Asia Pacific. China, Japan, India, and South Korea, are major contributors to the automotive sensor market. Japan, known for its automotive industry and technological advancements, plays a significant role in the development and adoption of automotive sensors. Japanese automotive manufacturers are renowned for their focus on safety, which has led to the incorporation of advanced sensor technologies in their vehicles. India has also witnessed significant growth in the automotive sensor market due to the expansion of the domestic automotive industry. The government's push for electric mobility and the introduction of new safety regulations have further boosted the demand for sensors in the country.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 32.33 Billion |
| Market Size by 2030 | USD 49.48 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 6.27% |
| Largest Market | Asia Pacific |
| No. of Pages | 180 |
| Market Drivers |
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| Market Segmentation | By Type, and By Application |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global automotive sensor market (OEM) covers segments such as type, and application. On the basis of type, the sub-markets include pressure sensor, temperature sensor, speed sensor, position sensor, and other powertrain sensors. On the basis of application, the sub-markets include powertrain, body electronics, vehicle security systems, telematics, and others.
The report provides profiles of the companies in the market such as Robert Bosch GmbH, Continental AG, Panasonic Corporation, DENSO CORPORATION, Infineon Technologies AG, Vishay Intertechnology, Inc., CTS Corporation, Analog Devices, Inc., Sensata Technologies, Inc., and Texas Instruments Incorporated.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the automotive sensor market (OEM). Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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