Market Research Report
Automotive Sensors Market by Type (Temperature, Pressure, Position, Oxygen, NOx, Speed, Inertial, Image), Application (Powertrain, Chassis, Exhaust, Body Electronics, Safety & Control, Telematics), Vehicle Type, and Geography - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||224210|
|Published||Content info||209 Pages
|Automotive Sensors Market by Type (Temperature, Pressure, Position, Oxygen, NOx, Speed, Inertial, Image), Application (Powertrain, Chassis, Exhaust, Body Electronics, Safety & Control, Telematics), Vehicle Type, and Geography - Global Forecast to 2023|
|Published: July 11, 2017||Content info: 209 Pages||
"The automotive sensors market estimated to grow at a CAGR of 6.71% between 2017 and 2023"
The automotive sensors market was valued at USD 22.94 billion in 2016 and is expected to reach USD 36.42 billion by 2023, at a CAGR of 6.71% between 2017 and 2023. The growth of the automotive sensors market is driven by the factors such as increasing motor vehicle production worldwide, increasing vehicle electrification, stringent government regulations, and growing consumer demand for sensors for the convenience and comfort. With the increase in concern over greenhouse gases emissions, fuel economy and emission norms are becoming stringent in many parts of the world. Automotive manufacturers are facing pressure to use advanced technology to reduce the emission and increasing fuel economy to reduce the carbon footprint. Automotive sensors are playing a crucial role in containing themselves in the regulation limits, and thereby helping the market to grow. However, factors such as the price competitive market, underdeveloped retrofit, and lack of uniform fabrication process for MEMS are the major barriers inhibiting the growth of this market. The automotive OEM expects the sensor manufacturer to provide the best possible technology at a lower cost. This increases the pricing pressure on the sensor manufacturer and has to slim down on profits. This could continue the automotive sensors to undergo price erosion during the forecast period. Stiff competition is another reason for the declining prices of automotive sensors. Price is the major competitive factor because automakers who buy sensors and other automotive components in large volumes are extremely price sensitive.
Powertrain application is expected to hold the largest share of the automotive sensors market in 2016. Sensors are primarily used in powertrains, and currently holds the leading position in the overall automotive sensors market. The extensive use of automotive sensors in powertrain application is attributed to the early adoption of automotive sensors for lower emissions, improved fuel economy, and onboard diagnostic requirements.
APAC is expected to hold the largest share of the automotive sensors market in 2016. The automobile sensors market in APAC is expected to be driven by strong automobile manufacturing industries in this region and also the increase in demand for automobiles in emerging economies such as India and China.
The breakup of primaries conducted during the study is depicted in below.
The automotive sensors ecosystem comprises major players such as Robert Bosch GmbH (Germany), Continental AG (Germany), DENSO Corporation (Japan), Analog Devices, Inc. (US), Sensata Technologies, Inc. (US), Delphi Automotive PLC (UK), Infineon Technologies AG (Germany), and STMicroelectronics (Switzerland).
This report includes the market statistics pertaining to sensor type, vehicle type, application, and geography, along with their respective market sizes.
The report would help leaders/new entrants in this market in the following ways:
Top companies analyzed for this study are - Robert Bosch GmbH; Continental AG; DENSO Corporation; Delphi Automotive PLC ; Sensata Technologies, Inc.; Autoliv Inc.; NXP Semiconductors N.V.; ZF Friedrichshafen AG; Infineon Technologies AG; Elmos Semiconductors AG; STMicroelectronics N.V.; Analog Devices, Inc.; Honeywell International Inc.; Allegro Microsystems, LLC; TE Connectivity Ltd.; Murata Electronics Co., Ltd.; Asahi Kasei Corporation; ON Semiconductor Corporation; Panasonic Corporation; CTS Corporation; Maxim Integrated; Texas Instruments, Inc.; Amphenol Corporation; The Micronas Group; OmniVision Technologies, Inc.
*Details on Business Overview, Products offered & Services strategies, Key Insights, Recent Developments, MnM View might not be captured in case of unlisted companies.