PUBLISHER: The Business Research Company | PRODUCT CODE: 1425255
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425255
Automotive Intelligence Battery Sensor Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive intelligence battery sensor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive intelligence battery sensor? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive intelligence battery sensor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
An automotive intelligent battery sensor is a device designed to provide accurate information about the current energy status, health, and functionality of a vehicle's battery. It measures crucial parameters such as voltage, current, and temperature, serving as a key component in vehicle energy management systems. These sensors integrate into the vehicle's electrical system, ensuring the engine's proper functioning and preventing potential vehicle failures. Additionally, they support intelligent alternator control for efficient power management.
The main technologies employed in automotive intelligent battery sensors include Microcontroller Units (MCU), Controller Area Network (CAN), and Local Interconnect Network (LIN). MCU technology, specifically the motor control unit, is utilized in various battery sensors to facilitate their operation. Automotive intelligent battery sensors are designed to work with various voltage types, including 12, 14, 24, and 48 volts. These sensors find applications in a range of systems such as Lane Departure Warning Systems (LDWS), Blind Spot Detection Systems (BSD), Forward Collision Warning Systems (FCW), pedestrian protection systems, night vision systems, head-up displays, and other applications for both passenger cars and commercial vehicles.
The automotive intelligence battery sensor market research report is one of a series of new reports from The Business Research Company that provides automotive intelligence battery sensor market statistics, including automotive intelligence battery sensor industry global market size, regional shares, competitors with an automotive intelligence battery sensor market share, detailed automotive intelligence battery sensor market segments, market trends and opportunities, and any further data you may need to thrive in the automotive intelligence battery sensor industry. This automotive intelligence battery sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The automotive intelligence battery sensor market size has grown rapidly in recent years. It will grow from $6.08 billion in 2023 to $6.83 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth observed in the historical period within the automotive intelligent battery sensor sector can be attributed to several factors. These include the increasing trend towards vehicle electrification, the growing complexity of automotive electronics, stringent emission standards driving the need for advanced energy management systems, adherence to automotive safety regulations, and the rising demand for fuel efficiency.
The automotive intelligence battery sensor market size is expected to see rapid growth in the next few years. It will grow to $10.66 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The anticipated growth in the forecast period within the automotive intelligent battery sensor sector can be attributed to various factors. These include the enhancement of diagnostic capabilities in battery sensors, the development of energy-dense batteries for electric vehicles, increasing sustainability initiatives across the automotive industry, a heightened focus on vehicle safety and reliability, and growing awareness of battery health among consumers. Major trends expected in the forecast period include increased adoption of Advanced Driver Assistance Systems (ADAS), advancements in sensor technologies for more accurate monitoring, a rise in connectivity and Internet of Things (IoT) integration to enable real-time data sharing, the development of smart charging systems for electric vehicles, increased collaborations and partnerships within the industry, and a growing complexity of electrical architectures as vehicles become more technologically sophisticated.
The growth trajectory of the automotive industry is poised to significantly drive the automotive intelligence battery sensor market. A global increase in economies has elevated living standards and purchasing power, subsequently amplifying the demand for automobiles. Additionally, the COVID-19 pandemic prompted a preference for safer transportation modes, stimulating the automotive sector. The surge in gas prices further accelerated the adoption of Electric Vehicles (EVs) due to their cost-efficiency. Automotive intelligence battery sensors cater to vehicle energy management by continually analyzing critical battery parameters. For instance, global passenger car sales surged from 53 million in 2020 to 56 million in 2021, according to the OICA (International Organization of Motor Vehicle Manufacturers) report. Similarly, commercial vehicle sales rose from 24 million in 2020 to 26 million in 2021, underscoring the heightened demand within the automotive industry and propelling growth in the automotive intelligence battery sensor market.
The increasing prevalence of high-end vehicles is anticipated to be a significant driver propelling the automotive intelligence battery sensor market. High-end or luxury vehicles, renowned for superior quality and advanced features, emphasize an elevated driving experience. Automotive intelligent battery sensors integrated into these vehicles play a crucial role in monitoring battery health, optimizing charging processes, and enhancing overall electrical system efficiency. Notably, data from the Society of Motor Manufacturers and Traders in July 2023 revealed substantial sales growth for Porsche AG (27.16% increase) and Audi AG (24.30% increase) compared to their 2022 sales. The rising number of high-end vehicle sales contributes significantly to the growth trajectory of the automotive intelligence battery sensor market.
Technological advancements stand out as a pivotal trend shaping the automotive intelligence battery sensor market. Key players in this sector prioritize delivering cutting-edge battery solutions to bolster their market standing. For example, in May 2022, Continental AG, a Germany-based automotive parts manufacturing company, introduced innovative sensors aimed at safeguarding electrified vehicle batteries. These high-voltage Current Sensor Modules (CSM) and Battery Impact Detection (BID) systems provide crucial current and temperature data, ensuring battery safety, longevity, weight reduction of up to 50%, and underfloor protection. This emphasis on technological innovation showcases the transformative impact on the automotive intelligence battery sensor market.
Prominent companies in the automotive intelligence battery sensor market are intensifying their focus on introducing advanced sensors, notably the Current Sensor Module (CSM) and Battery Impact Detection (BID) system, to gain a competitive advantage. These innovative sensor solutions collectively contribute to bolstering vehicle safety by precisely monitoring electrical currents and detecting battery impacts, thereby enhancing the overall reliability of automotive systems. For instance, in May 2022, Continental AG, a Germany-based automotive company, introduced two groundbreaking sensors specifically tailored for electrified vehicles. The Current Sensor Module (CSM) and the Battery Impact Detection (BID) system are engineered to safeguard batteries and enhance battery parameter retention. The CSM, a compact modular sensor, adeptly measures current and detects temperature, playing a pivotal role in efficient battery management. It continually assesses the status of conventional 12-volt lead-acid batteries, furnishing vital information on critical parameters such as the battery's state of charge, function, and health.
A significant move occurred in January 2022 when Faurecia, a French-based automotive parts manufacturer, acquired Hella GmbH & Co. KGaA for $5.64 billion (EUR 5.3 billion). This strategic acquisition by Faurecia aimed to augment its capabilities and expand its portfolio within the automotive battery sensor and other automotive component domains. Hella GmbH & Co. KGaA, a Germany-based manufacturer renowned for electronic components, lighting systems, and battery sensor technologies catering to the automotive industry, aligns with Faurecia's strategic vision of enhancing its presence and offerings in the automotive intelligence battery sensor market and allied segments.
Major companies operating in the automotive intelligence battery sensor market report are Robert Bosch GmbH, NXP Semiconductors N.V., Continental AG, Furukawa Electric Company Limited, Vishay Intertechnology Inc., Texas Instruments Incorporated, Inomatic GmbH, MTA Automotive Solutions Pvt. Ltd., Denso Corporation, Abertax Technologies Limited, Autotech Components Pvt. Ltd., Bamomas, Analog Devices Inc., Infineon Technologies AG, Sensata Technologies Inc., STMicroelectronics N.V., TE Connectivity Ltd., Hella GmbH & Co. KGaA, Hitachi Automotive Systems Ltd., Renesas Electronics Corporation, Mitsubishi Electric Corporation, Panasonic Corporation, LG Chem Ltd., BYD Company Ltd., Contemporary Amperex Technology Co. Limited, ams-OSRAM AG, Electronic Design News, Akebono Brake Industry Co. Ltd., Alibaba Group Holding Limited, Anfield Sensors Inc., First Sensor AG
Asia-Pacific was the largest region in the automotive intelligence battery sensor market in 2023. The regions covered in the automotive intelligence battery sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive intelligence battery sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive intelligence battery sensor market consists of sales of automotive intelligence battery sensors that are used in battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.