Automotive Sensors Market will exhibit a CAGR of 3.0% during the forecast period, and USD 8,535.6 million by 2027, and the Market value as per 2019 was USD 7,858.6 million.
Fortune Business Insights™ in a new report, titled, “Automotive Sensors Market Size, Share & Industry Analysis, By Sensor Type (Temperature Sensor, Pressure Sensor, Speed Sensor, Position Sensor, Others), By Application Type (Powertrain, Chassis, Exhaust, ADAS, and Others), By Vehicle Type (Passenger Car, LCV, HCV), and Regional Forecast, 2019-2026.”
Automotive Sensors Market Drivers and Restraint:
Rising Demand for Pressure Sensors to Augment Growth
To satisfy passenger car safety requirements, modern automotive restraint systems utilize side airbag pressure sensors. The pressure sensor is assembled within the car side doors and delivers digital crash signals to the central airbag unit. Furthermore, in gasoline and diesel engines, air pressure sensor is used to optimize engine efficiency by effectively controlling spark advance. Hence, the increasing applications of pressure sensors in the engine and safety system of the vehicle are anticipated to drive the growth of this market.
Increasing Growth of Autonomous Vehicles to Fuel Demand for Automotive Sensors
Owing to the increasingly stringent regulations and safety tests (in particular, emergency brake assist) and growing awareness regarding vehicle safety, the autonomous capabilities of commercially available vehicles are expected to increase exponentially over the next few years. For example, functions such as cruise control and lane-keep assist are mandatory on all vehicles in developed countries with upcoming regulations for blind-spot monitoring, particularly in Europe.
These vehicles require long-range radar sensors for features such as adaptive cruise control and around two medium-range backward-facing radar sensors to enable blind spot detection. Furthermore, up to 12 ultrasonic sensors are necessary for features such as parking assistance. Thus, greater demand for autonomous driving features is expected to drive the adoption of automotive sensors.
RESTRAINING FACTORS:
High Cost and Limitations under Severe Weather Conditions to Restrain Growth
Owing to the small quantities being produced, achieving cost reduction up to target levels for sensors used in ADAS systems has not been possible. Furthermore, the majority of the sensors currently in use in automobiles have restricted signal bandwidth and measurement range, which creates difficulty in distinguishing between system noise and signals i.e. road obstacles. Also, in less-than-ideal environments such as blizzards or rainfall, tracking moving objects is especially difficult. Together, these factors are expected to restrain the growth of the market.
List of Key Players Covered in the Automotive Sensors Market Report:
- Robert Bosch GmbH (Gerlingen, Germany)
- Infineon Technologies AG (Neubiberg, Germany)
- STMicroelectronics (Geneva, Switzerland)
- Continental AG (Hanover, Germany)
- Denso Corporation (Kariya, Japan)
- NXP Semiconductors (Eindhoven, Netherlands)
- Texas Instruments Incorporated (Dallas, US)
- Allegro Microsystems, LLC (New Hampshire, US)
- CTS Corporation (Illinois, US)
- Elmos Semiconductor (Dortmund, Germany)
To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/industry-reports/automotive-sensors-market-101690
Some of the key industry developments in the Automotive Sensors Market Include:
- June 2020 – Vitesco Technologies, the powertrain business area of Continental AG, signed a development partnership with ROHM Semiconductor for silicon carbide power devices. Vitesco will integrate this technology in high-power electronics for electric vehicles.
- April 2020 – Infineon Technologies acquired Cypress Semiconductor, a leading company in semiconductor design and manufacturing. The acquisition enables Infineon to expand its portfolio of automotive semiconductors, sensors, and microcontrollers, among other applications.
- January 2020 – Bosch became the first company to develop long-range lidar sensors, the first lidar system suitable for automotive use.
