Home Press Release Automotive Sensors Market is anticipated to hit $51.93 billion by 2023 at a CAGR of 12.08%

Automotive Sensors Market is anticipated to hit $51.93 billion by 2023 at a CAGR of 12.08%

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According to the new market research report by IndustryARC titled “Automotive Sensors Market: By Product Type (Pressure, Temperature, Speed, Oxygen, Level, Others); By Technology (Capacitive, Inductive, Magnetic, and Others); By Application (Chassis, Engine, Powertrain, Telematics, and Others); By Vehicle Type (Car, Truck, Others); By Geography – (2018-2023)”, the market is driven by the automotive manufacturers’ increased emphasis on passenger safety.

APAC held the largest market share in the Automotive Sensors Market

APAC holds the largest market share and growth in the Automotive Sensors Market and is anticipated to reach $18.3 million by 2023 at a CAGR of 13.56%. In addition to this, the use of image sensors that aid the occupant safety is growing in the APAC region. Along with safety and gas emission issues, infotainment system drives the automotive sensors market in this region. Similarly, blind-spot reduction, forward-collision warning, lane-departure warning, and parking assist features are implemented in most automobiles in these countries. The key applications include Fuel Injection and Emission, Chassis, Engine, Powertrain, Safety & Control, Telematics, and Vehicle Security, among others.

Selected Value Chain Analysis

Sensor Manufacturers

• The advancements in technology and need of the end-users bring up the innovation in the products. The sensor fabrication varies according to the automotive model and the specificity of the applications. The researchers develop the product design so as to reduce its size and use it for multiple functions. Also, the material used for sensing and other applications such as packaging is being developed. In this process, the government standards and cost factor are considered to achieve maximum benefit in comparison to the investments made.

• Considering such developments, the manufacturers produce the sensors in bulk or as per the customizations required by the auto manufacturers. The sensors based on MEMS are among those having mass production. On the other hand, the LIDARs are the ones manufactured with some specificity.

Component Manufacturers

• The component manufacturers can also be called as value-added resellers. The sensor chips or devices are embedded in the components by these manufacturers. The components are used by the automotive industry for auto manufacturing. The cost to the product is added at this stage.

• The sensor products by Infineon are used by Bosch to embed them in desirable components. The RADAR chips by Infineon are embedded in sensors by Bosch, which contributes to the driver assistance systems. Moreover, the RADAR chips are packaged so as to reduce the system cost. Such manufacturing processes where the product is developed as well as the cost is reduced increases the potential of its applications. The RADARs now are not only used in premium vehicles, but also in small cars for traffic jam assist systems, adaptive cruise control, and emergency braking.

Automotive Parts Suppliers and Distributors

• At this stage of the value chain of automotive sensors, the sensors are distributed to the automotive companies at different locations. They play an important role to maintain the balance between supply and demand of a product.

Automotive Manufacturers

• Automotive manufacturers need a variety of raw material for the manufacturing of vehicles for different parts such as powertrain, chassis, interiors, body and main parts. It also includes the electrical and electronics products such as audio/video devices, charging system, ignition system, sensors, switches and many more. The sensors include airbag sensors, coolant temperature sensor, crankshaft position sensor, fuel level sensor, fuel pressure sensor, O₂ sensor and many more.

• All these parts are obtained from different distributors. The presence of distributors helps the automotive industry to get the raw material in time, and proceed with the uninterrupted manufacturing of vehicles. At times, the raw material is also obtained directly from the manufacturing companies.

End-Users

• The end-users are mainly the vehicle drivers. The automotive sensor’s performance depends on the level of safety, convenience, and comfort of the driver and the others.

Excerpts on Market Growth Factors

• Automotive Sensors Market is mainly driven by the increasing demand for automotive, stricter emission standards and the increased demand for safety features in automotive.

• This industry is a fragmented market, and has many suppliers all over the globe; thus the competition in the market is high. Offering better quality product at a competitive price is the main concern for the manufacturers.

• In addition to the electric vehicles, the growing autonomous vehicles in such countries are responsible for the rise in demand for various automotive sensors, which can reduce the traffic congestion by maintaining proper distance from other vehicles, and following a defined path.

• Other factors that drive the Automotive Sensors Market are the number of organized cab services, mishaps such as vehicle theft, road accidents, a crime against women and other passengers, a need of fleet management, etc.

To access the full report browse the link below

https://industryarc.com/Report/7364/Automotive-Sensors-Market-Research-Report.html?

Key players of Automotive Sensors Market:

• The eminent players in this market include Continental AGDelphi Automotive Systems,  LLC, Denso Corporation, Robert Bosch GmbH, and TRW Automotive, Inc. to name a few.

• Bosch group has made its presence felt in around 150 countries with its sales and service partners. This company competes with General Electric Company, DENSO Corporation, Delphi Automotive Systems, LLC and few others. It functions with 290,183 employees worldwide.

• Denso Corporation acquired shares of Pricol Components Limited, an auxiliary of Pricol Limited, a major auto parts producer in India, to grow the instrument group business in India. Denso Corp. chose to extend the two specialized unit of DENSO Automotive Deutschland GmbH in Germany. With this extension, the company intended to improve the configuration of items for the neighborhood as well as local clients.

• CAS comprises of 44 plants, research centers and test tracks in 15 nations, incorporating ten joint ventures in Asia. The automotive group works with around 108,711 employees.

• Continental formed a joint venture with D’Ieteren. D’Ieteren is a Belgian automotive service group. This joint venture was made in order to implement different car sharing services. It provides virtual car keys that are transmitted and used wirelessly via cell phones.

• The earnings of the companies from the automotive business segment was highest for Denso Corporation, followed by Continental Corporation. Denso had come up with products in the security and safety field, as well as in the environmental field.

• The top companies are undertaking acquisition so as to expand and maintain their market presence. For example, Continental acquired Elektrobit Automotive is all set to develop software applications such as ADAS and infotainment systems. Also DENSO acquired 50% stake of ADASENS Automotive GmbH to develop active safety technologies of DENSO.

• The revenue generated by Continental AG from its automotive segment contributed a significant figure of the total market share.

What can you expect from the report?

The Automotive Sensors Market Report is Prepared with the Main Agenda to Cover the following 20 points:

1. Market Size by Product Categories

2. Market trends

3. Manufacturer Landscape

4. Distributor Landscape

5. Pricing Analysis

6. Top 10 End-user Analysis

7. Product Benchmarking

8. Product Developments

9. Mergers & Acquisition Analysis

10. Patent Analysis

11. Demand Analysis (By Revenue & Volume)

12. Country-level Analysis (15+)

13. Competitor Analysis

14. Market Shares Analysis

15. Value Chain Analysis

16. Supply Chain Analysis

17. Strategic Analysis

18. Current & Future Market Landscape Analysis

19. Opportunity Analysis

20. Revenue and Volume Analysis

Media Contact:

Mr. Venkat Reddy

Sales Manager

Email 1: sales@industryarc.com

Or Email 2: venkat@industryarc.com

Contact Sales: +1-614-588-8538 (Ext-101)

About IndustryARC:

IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

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