The Automotive Sensor Industry Analysis by BIS Research projects the market to grow at a significant CAGR of 7.14% during the forecast period from 2019 to 2029
NEW YORK, Dec. 19, 2019 /PRNewswire/ --
Global Automotive Sensor Market to Grow at a CAGR of 7.14% from 2019-2029
Key Questions Answered in the Report:
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• Which global factors are expected to impact the automotive sensor industry?
• What is the estimated global automotive sensor market size in terms of revenue from 2018-2029?
• During the forecast period, 2019-2029, how much revenue is expected to be generated by:
o different types of sensors – temperature, pressure, position, speed, level, inertial, knock, gas, and flow
o different types of vehicles – passenger vehicles, commercial vehicles, conventional vehicles, and electric vehicles
o different regions namely North America, Europe, Asia-Pacific, and Middle East and Africa, and Latin America
• Which automotive sensor application is expected to be dominant in the forecast period 2019-2029?
• Which companies are major players in the automotive sensor market? What are the key market strategies being adopted by them?
Global Automotive Sensor Market Forecast, 2019-2029
The Automotive Sensor Industry Analysis projects the market to grow at a significant CAGR of 7.14% during the forecast period from 2019 to 2029. The APAC region dominated the global automotive sensor market in 2018, and it is expected to have the highest growth rate during the forecast period.
The automotive sensor market is driven by several factors such as rise in number of electric and luxury vehicles, increase in electronic component per vehicle, rise in digitalization, and miniaturization of electronic devices in the vehicles. However, highly complex MEMS processes for fabrication of sensors limit the market growth.
Moreover, factors such as rising demand for ADAS systems and autonomous vehicle, growing number of electric vehicles, and development of multi-purpose sensors, sensor platforms, and sensor fusion are anticipated to create numerous opportunities for the market growth.
Expert Quote
"The temperature sensor segment dominated the global automotive sensor market. This is mainly due to the increasing demand for battery temperature sensors in electric vehicles, which are being used in the battery cell to measure its temperature. Moreover, APAC was the largest market in 2018 and is anticipated to maintain its dominance throughout the forecast period, owing to the presence of large number of manufacturing facility of automotive OEMs and increasing number of electric vehicles in the region."
Scope of the Global Automotive Sensor Market
The report is constituted of an in-depth study of the global automotive sensor market, including a thorough analysis of the types of sensors, technology, application, vehicle, mode of sales, and region.The study also presents a detailed analysis of the market dynamics (market drivers, opportunities, and challenges), industry analysis, and the estimation of the market size over the forecast period 2019-2029.
Furthermore, the industry analysis presents a detailed insight about the major market players in the global automotive sensor market using the value chain analysis.
Market Segmentation
The automotive sensor market segmentation (on the basis of sensor type) is further categorized into temperature sensor, pressure sensor, position sensor, speed sensor, level sensor, inertial sensor, gas sensor, flow sensor, knock sensor, force sensor, torque sensor, and other sensors. The temperature sensor dominated the global automotive sensor market in 2018 and is anticipated to maintain its dominance throughout the forecast period (2019-2029), due to increasing number of exhaust gas temperature sensors being installed owing to the government norms regarding exhaust gas emissions as well as rising demand for battery temperature sensors in electric vehicles.
The automotive sensor market segmentation on the basis of technology is segregated into MEMS and NEMS. The MEMS segment dominated the global automotive sensor market in 2018 and is anticipated to maintain its dominance throughout the forecast period, as the cost per device of these sensors is lower corresponding to its macro-device.
The automotive sensor market segmentation on the basis of application is segregated into powertrain, chassis, body, safety and control, and exhaust systems. The powertrain segment dominated the global automotive sensor market in 2018 and is anticipated to maintain its dominance throughout the forecast period due to factors such as increasing demand for fuel efficiency and lower emissions in vehicles.
The automotive sensor market segmentation on the basis of vehicle type is segregated into conventional vehicles, which are further segmented into passenger vehicles, light commercial vehicles, heavy duty trucks, and heavy-duty vehicles and electric vehicles, which are further segmented into passenger vehicles and commercial vehicles. The passenger vehicles segment in the conventional vehicles segment dominated the global automotive sensor market in 2018 and is anticipated to maintain its dominance throughout the forecast period, due to various rules and regulations laid out by the federal authorities to ensure safety, efficiency, and accuracy in the passenger cars through the sensor technologies.
The automotive sensor market segmentation on the basis of mode of sales is segregated into OEMs and aftermarket. The OEMs segment dominated the global automotive sensor market in 2018 and is anticipated to maintain its dominance throughout the forecast period. The OEM market is driven by its benefits such as operating simplicity, robustness, and less expensive when compared with other channels.
The automotive sensor market segmentation by region is segregated under five major regions, namely North America, Europe, APAC, Middle East and Africa, and Latin America. The APAC segment dominated the global automotive sensor market in 2018 and is anticipated to maintain its dominance throughout the forecast period due to the growing demand and increased production of EVs in this region.
Key Companies in the Automotive Sensor Industry
The key market players in the global automotive sensor system market include Continental AG, Robert Bosch GmbH, TE Connectivity, Denso Corporation, Delphi Technologies, Melexis, Allegro Microsystems, and CTS Corporation, among others.
Countries Covered
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Spain
• Rest-of-Europe
• Asia-Pacific (APAC)
• China
• Japan
• South Korea
• India
• Rest-of-APAC
• Middle East and Africa
• South Africa
• Algeria
• Rest-of-Middle East and Africa
• Latin America
• Brazil
• Argentina
• Rest-of-Latin America
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