Global Automotive Accelerometers Market Size, Share, Growth Analysis, By Type(MEMS accelerometers, and piezoelectric accelerometers), By Application(airbag control, electronic stability control) - Industry Forecast 2024-2031

Global Automotive Accelerometers Market size was valued at USD 1.27 Billion in 2022 and is poised to grow from USD 1.34 Billion in 2023 to USD 2.09 Billion by 2031, at a CAGR of 5.7% during the forecast period (2024-2031).

The growing need for sophisticated safety features in cars is fueling the rapidly expanding global market for automotive accelerometers. A sensor that gauges a moving object's acceleration is called an accelerometer. Accelerometers are used in the automobile industry to measure a vehicle's acceleration, which is then used for a variety of functions such airbag deployment, engine management, and vehicle stability control. The growing need for sophisticated safety features in cars is likely to propel a major growth in the worldwide automotive accelerometers market in the next years. The goal of the global automotive accelerometer market is to equip cars with cutting-edge safety measures. By monitoring a vehicle's acceleration and sending the information to the control systems of the vehicle, accelerometers are essential to the provision of these safety measures.

Afterwards, a number of safety measures, including engine management, stability control, and airbag deployment, are turned on using this data. The growing need for sophisticated safety features in cars and the rising rate of vehicle production are the main factors propelling the worldwide automotive accelerometers market. Accelerometer use in the automotive industry has expanded as a result of growing concerns about passenger safety and the necessity of adhering to various safety requirements. The primary impediment to the worldwide automotive accelerometers market is the elevated expense linked to the technology. It has been challenging for small and medium-sized automakers to implement accelerometer technology due to its high cost. Apart from that, one major difficulty facing the automobile industry is the lack of standardization, which makes it hard for manufacturers to create accelerometers that work with different kinds of cars. The primary obstacles confronting the worldwide automobile accelerometer industry are the growing rivalry from substitute technologies like radar sensors and LiDAR. Due to their increased precision and cheaper cost, these technologies are becoming more and more common. They provide functions similar to accelerometers. The scarcity of qualified experts capable of designing, creating, and integrating accelerometers into automobiles is another major obstacle. Despite the difficulties, there are numerous chances for the global market for automotive accelerometers to grow. In the upcoming years, it is anticipated that the need for accelerometers would be driven by the growing need for autonomous and electric automobiles.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Automotive Accelerometers Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Automotive Accelerometers Market Segmental Analysis

The global automotive accelerometers market is segmented on the basis of type, application, vehicle type and region. By type, the market is segmented into MEMS accelerometers, and piezoelectric accelerometers. In terms of application, the market is segmented into airbag control, electronic stability control, engine control, and others. In terms of vehicle type, the market is segmented into passenger cars, commercial vehicles and specialized vehicles. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Automotive Accelerometers Market

Because there is a greater emphasis on vehicle safety, there is a growing demand for advanced driver assistance systems (ADAS). Accelerometers are used by ADAS systems to track a vehicle's movement and give the driver feedback. As a result, the global market for automotive accelerometers is expanding due to the growing need for ADAS.

Restraints in the Global Automotive Accelerometers Market

Automotive accelerometers are intricate sensors that are manufactured using cutting-edge technology. Because of this, some manufacturers may find it challenging to include these sensors into their cars due to their high cost. One of the main issues the worldwide industry for car accelerometers is facing is their high price.

Market Trends of the Global Automotive Accelerometers Market

Growing demand for electric and hybrid cars: The global automotive accelerometers market is expanding as a result of the growing popularity of electric and hybrid cars. Advanced sensors are needed for these cars in order to track their movements and give the driver feedback. Automotive accelerometer demand is therefore being driven by the rising demand for electric and hybrid automobiles.

MEMS accelerometers are being used more frequently because they are more affordable, more accurate, and smaller than piezoelectric accelerometers. They are consequently gaining popularity in the automobile sector. Numerous applications, including as engine management, electronic stability control, and airbag control, use MEMS accelerometers.