Market Research Report
Global Automotive Sensors Market Size study, By Sales Channel (Original Equipment Manufacturer, Aftermarket), By Sensor Type, By Application, By Vehicle Type, and Regional Forecasts 2022-2028
|Global Automotive Sensors Market Size study, By Sales Channel (Original Equipment Manufacturer, Aftermarket), By Sensor Type, By Application, By Vehicle Type, and Regional Forecasts 2022-2028|
Published: April 28, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Automotive Sensors Market is valued approximately USD 27.60 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 13.6% over the forecast period 2022-2028.
Automobile sensors are smart sensors that are highly adapted for processing and controlling the pressure of oil, level of emission, coolant levels, temperature, etc. in a vehicle These sensors analyze, identify, and manage the performance of the vehicle and ensure its competence and safe operation. The rising inclination of consumers toward alternative fuel vehicles to reduce GHG emissions, increasing demand for autonomous vehicles, and growing consumer needs for vehicle safety, security, and comfort are the primary factors that are bolstering the market demand across the globe. For instance, according to Statista, the global autonomous car market was accounted for USD 27.26 billion in 2020. Also, the amount is anticipated to grow and reach USD 37.22 billion by 2022. Thereby, stimulating demand for the autonomous car is directly associated with the market demand, which, in turn, augments the market growth in the near future. However, safety and security threats in autonomous vehicles and high costs of sensors impede the growth of the market over the forecast period of 2022-2028. Also, the growing focus on electrification in the automotive industry and the increasing number of joint ventures and partnerships among automobile manufacturers and lidar technology providers are anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global Automotive Sensors market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading region across the world in terms of market share owing to the rising inclination toward electric and hybrid vehicles, along with the imposition of stringent government norms to improve vehicle safety and reduce pollution. Whereas, Europe is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as increasing investments in infrastructure development for the automotive sector, as well as growing adoption of ADAS and autonomous cars, would create lucrative growth prospects for the Automotive Sensors market across the European region.
Major market players included in this report are:
Robert Bosch GmbH
Infineon Technologies AG
Allegro Microsystems, Inc.
Analog Devices, Inc.
ELMOS Semiconductor SE
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Sales Channel:
Original Equipment Manufacturer (OEM)
By Sensor Type:
By Vehicle Type:
Safety & Control Systems
Vehicle Body Electronics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Automotive Sensors Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
List of figures