Market Research Report
Automotive Sensors Market - Forecast (2020 - 2025)
|Published by||IndustryARC||Product code||351078|
|Published||Content info||115 Pages
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|Automotive Sensors Market - Forecast (2020 - 2025)|
|Published: March 11, 2020||Content info: 115 Pages||
The automotive sensors market revenue is forecast to grow at a CAGR of over 12% through 2018 to 2023. This growth is attributed to the increasing demand of automotive, stricter emission standards and the increased demand of safety features in the automotive. In 2017, the market was valued at $26.08 billion with Safety Sensors generating over $5 billion in 2017. The Americas region accounted for a major revenue in the global automotive sensors market generating over 4,068.60 in 2017. With many safety standards being issued, European region is poised to witness a CAGR of 15.25% during the forecast period 2018-2023. The growth in global automotive sensors is attributed to the increasing demand of autonomy, stricter emission standards and the increased demand of safety features in the vehicles.
What is an Automotive Sensor?
Sensors are type of transducers which detect the difference in its environment due to mechanical change and transfer it as electric or optical signal to the concerned component. In automotive, sensors are used to develop a centralized control system for the vehicle. Sensors are installed in vehicles to increase reliability of the vehicle and safety of the passenger. Various sensors such as pressure sensors, temperature sensors, position sensors, speed sensors, oxygen sensors, NOx sensors and many other sensors are used in automotive.
What are the major applications for Automotive Sensors ?
The end users are mainly the vehicle drivers like cars, trucks, buses and two wheelers. Sensors are used in almost all the parts like engines, chassis, brakes, clutch, transmission, safety and control. There are different types of sensors like pressure sensors, speed sensors, temperature sensors, Humidity sensors, safety sensors and others. Pressure sensors have their applications in engine, fuel and safety. There are different types of pressure sensors like air conditioning pressure sensor, fuel pressure sensor, oil pressure sensor and manifold pressure sensor. In the engine pressure sensors are used to to regulate power delivered by the engine whenever the vehicle is accelerated or brakes are applied and also monitor the oil and coolant pressure. For safety purpose the pressure sensors adapt to road terrain and prevent skidding of vehicles. Humidity sensors detects and measures water vapor and also detects fogged up wind screens.
Automotive Sensors Market
Market Research and Market Trends of Automotive sensors
Autonomous Driving: Level 2 and Level 3 autonomous driving is currently commercialized. The demand for automotive sensors is expected to experience exponential growth during the forecast period given the rising number of vehicles equipped with autonomous driving. This Vehicle autonomy would be achieved by incorporating efficient micro-controllers and highly precise sensors. Advanced Driver Assistance Systems (ADAS), the technology currently in trend powered by automotive sensors is driving the market. It assists the driver and with continuous research they are progressively excluding human errors which may be due to strong emotions, fatigue or other distractions.
Current sensors forecast to experience huge demand: Sensors such as current sensors also play a keen role in diving the vehicle and sensing when and how to charge an electric vehicle, since the battery is the main source of energy for systems in HEVs/EVs, it is essential to have information about its charging and discharging cycles. Current sensors are the main source of information for charging and discharging cycle information by reporting the status of battery SOH to the battery management system.
Image Sensors: Images sensors are also now being used to update the road maps and provide other critical directions. For instance, if there is a one way road with no sign boars, the systems updated them onto the cloud along with updating the concerned persons on the requirements of a sign board. This also applies to various other instances where cameras are required such as updating the road conditions, and other such local updates. It has paved the way for automotive manufacturers to use various types of vision sensors in the vehicle to assist the drivers for a safe ride.
Research and Development in LiDAR: The most important sensor for an autonomous automotive vehicle is the Lidar sensor, Self-driving vehicles being tested by companies such as Alphabet, Uber, and Toyota rely heavily on Lidar to locate themselves on the detailed maps they need to get around, and to identify things like pedestrians and other vehicles. The Lidar and Radar sensors are currently very high priced costing thousands of dollars and are limited to a niche market. Major players such as Ford and Baidu are investing in self-driving cars, and also have jointly invested $150 million in Velodyne, the world's leading Lidar supplier to build a production units in San Jose. Consequently Velodyne has achieved breakthrough technologies for building Lidar sensors that could be produced at a very low cost and similarly Quanergy has announced it would be producing solid-state Lidar sensors at a factory in Massachusetts for a targeted price of $250.
Who are the Major Players in Automotive sensors Market?
The companies referred in the market research report include Denso Corporation, continental Ag, Texas instruments, Infineon technologies AG and others.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.
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Key Takeaways from this Report
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