PUBLISHER: Roots Analysis | PRODUCT CODE: 1854909
 
				PUBLISHER: Roots Analysis | PRODUCT CODE: 1854909
As per Roots Analysis, the global autonomous vehicle sensor market size is estimated to grow from USD 5.98 billion in the current year USD 108.41 billion by 2035, at a CAGR of 33.61% during the forecast period, till 2035.

The opportunity for autonomous vehicle sensor market has been distributed across the following segments:
Type of Component
Level of Autonomy
Types of Propulsion
Type of Sensor
Type of Vehicle
Areas of Application
Type of Sales Channel
Type of Enterprise
Geographical Regions
Autonomous Vehicle Sensor Market: Growth and Trends
As the world increasingly shifts towards self-driving cars, there is an urgent requirement for sensors to facilitate smooth operation. Sensors in autonomous vehicles gauge and manage a variety of factors such as temperature, agent concentrations, pressure levels, emissions, and more. These sensors are sophisticated enough to handle a broad spectrum of data, accurately process it, and verify the appropriate mixture or level for each parameter. In today's landscape, it's hard to envision a vehicle that operates without sensors. Recent advancements have made automotive sensors essential components of the system.
The role of sensors in autonomous vehicles involves monitoring and regulating several environmental and vehicle conditions to guarantee their safe and efficient function. Autonomous vehicles depend on a range of sensors to perceive and react to their environment. Temperature sensors are crucial in maintaining ideal operating temperatures within the vehicle, ensuring that vital components work correctly. Pressure sensors keep track of fuel, hydraulic, and tire pressures, while pollution sensors identify harmful gases and particles to maintain clean air within the cabin. Driven by the rising demand for enhanced safety features and greater automation levels within the transportation sector, the autonomous vehicle sensor market is expected to experience significant growth during the forecast period.
Autonomous Vehicle Sensor Market: Key Segments
Based on type of component, the global autonomous vehicle sensor market is segmented into hardware, and software. According to our estimates, currently, the hardware segment captures the majority of the market share. This increase is due to the essential requirement for hardware components such as cameras, LiDAR, and RADAR systems, which are vital for vehicle perception and navigation.
Conversely, the software segment is anticipated to grow at a higher CAGR during the forecast period, owing to the fact that software solutions like middleware are essential for sensor fusion and managing data from various sensors, which is crucial for the functionality of autonomous vehicles.
Based on level of autonomy, the global autonomous vehicle sensor market is segmented into L2+, L3, L4. According to our estimates, currently, the L2+ and L3 segment captures the majority of the market share. These levels denote semi-autonomous vehicles equipped with advanced driver assistance systems (ADAS), like adaptive cruise control and lane-keeping assistance, which have become prevalent in contemporary vehicles. The demand for these levels is fueled by rising consumer interest in safety features and regulatory mandates.
In addition, the L4 segment is expected to grow at a higher CAGR during the forecast period. This can be attributed to the fact that L4 vehicles have the capability to function autonomously in certain conditions without the need for human involvement.
Based on type of propulsion, the global autonomous vehicle sensor market is segmented into ICE, and electric. According to our estimates, currently, the ICE (internal combustion engine) segment captures the majority of the market share. This growth is driven by their longstanding presence and sustained demand for traditional vehicles.
However, the electric segment is expected to grow at a higher CAGR during the forecast period. This increase is linked to the rising consumer preference for eco-friendly vehicles, government initiatives supporting electric mobility, and advancements in electric vehicle technologies.
Based on type of sensor, the global autonomous vehicle sensor market is segmented into cameras, image sensors, LiDAR, RADAR, ultrasound and others. According to our estimates, currently, the camera segment captures the majority of the market share, owing to the fact that cameras in autonomous vehicles are vital for delivering visual information that supports various functions like object detection, lane tracking, and traffic sign recognition.
However, the LiDAR sensor segment is expected to grow at a higher CAGR during the forecast period. This growth is largely due to the essential requirement for developing detailed 3D maps of the vehicle's environment, which facilitates accurate distance measurement and object detection.
Based on type of vehicle, the global autonomous vehicle sensor market is segmented into commercial and passenger. According to our estimates, currently, the passenger segment captures the majority of the market share. This increase is attributed to the substantial emphasis on advancing autonomous driving technologies for passenger cars, which dominate consumer markets.
However, the commercial segment is expected to grow at a higher CAGR during the forecast period. This can be attributed to the rising adoption of autonomous technology in logistics and transportation is revolutionizing the delivery of goods, resulting in increased efficiency and cost savings.
Based on area of application, the global autonomous vehicle sensor market is segmented into collision avoidance, navigation, obstacle detection and others. According to our estimates, currently, the obstacle detection segment captures the majority of the market share. This can be attributed to the fact that sensors enable real-time identification of obstacles allow vehicles to maneuver away from hazards and avert accidents.
However, the navigation sector is expected to grow at a higher CAGR during the forecast period. This increase is primarily fueled by rising urbanization.
Based on type of sales channel, the global autonomous vehicle sensor market is segmented into aftermarket, and original equipment manufacturer (OEM). According to our estimates, currently, the original equipment manufacturer (OEM) segment captures the majority of the market share. This increase is attributed to the rising incorporation of advanced sensors in new vehicles throughout the manufacturing process.
Moreover, the aftermarket segment is anticipated to grow at a higher CAGR during the forecast period. This growth is primarily fueled by the growing consumer interest in retrofitting vehicles with advanced safety features that may have been overlooked during initial production.
Based on type of enterprise, the global autonomous vehicle sensor market is segmented into large and small and medium enterprises. According to our estimates, currently, the large enterprise segment captures the majority of the market share. However, the small and medium enterprise segments are expected to grow at a higher CAGR during the forecast period. This growth can be attributed to their flexibility, innovative approaches, emphasis on niche markets, and capacity to adjust to evolving customer preferences and market dynamics.
Based on geographical regions, the autonomous vehicle sensor market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market. This growth can be attributed to the rising use of advanced driver-assistance systems (ADAS) in the United States and Canada. These nations are pioneers in autonomous parking and automated highway pilot programs. Additionally, Vehicle-to-Vehicle and Vehicle-to-Everything communications are becoming increasingly popular, improving road safety and transportation efficiency.
Autonomous Vehicle Sensor Market: Research Coverage
The report on the autonomous vehicle sensor market features insights on various sections, including:
Key Questions Answered in this Report
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