IMARC Group, a leading market research company, has recently releases report titled “Automotive Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the global automotive sensors market trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the automotive sensors market?

The global automotive sensors market size reached US$ 23.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.4 Billion by 2028, exhibiting a growth rate (CAGR) of 12.10% during 2023-2028. 

What are Automotive sensors?

Automotive sensors represent intelligent detectors used to process the oil pressure, temperature, emission, and coolant levels. They comprise gas, speed, pressure, temperature, and magnetic sensors. Automotive sensors can be managed by a computer and can estimate the air density in the engine. They are utilized to monitor the rotating speed of the crankshaft for controlling engine timing and fuel injection. Automotive sensors aid in scanning the content of exhaust gases for the balance of oxygen to specify emission controls and fuel metering strategy. They provide the smooth burning of fuel to avoid damage to head gaskets, rings, and rod bearings in vehicles. In addition, automotive sensors control various operations, such as turning on or off the retard, spark advance, canister purge, early fuel evaporation (EFE) system, and the flow of exhaust gas recirculation (EGR).

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Automotive Sensors Market Trends:

The escalating demand for these detectors to provide information on several parameters while ensuring comfort, safety, and security is among the primary factors driving the automotive sensors market. Besides this, the rising number of vehicles equipped with these devices, owing to the high consumer preference for convenience and fuel efficiency, is further augmenting the market growth. Moreover, the integration of automotive sensors in self-driving cars, as more intelligent data processing instruments are required to make autonomous decisions, is also catalyzing the global market. Apart from this, the growing popularity of advanced driver assistance systems (ADAS), including adaptive cruise control, lane departure warnings, and automated parking, is acting as another significant growth-inducing factor. Furthermore, the elevating requirement for these detectors for blind-spot monitoring and close vehicle sensing and the extensive usage of the anti-lock braking system (ABS) to adapt to the road terrain and control tire locking and vehicle skidding during high-speed brakes are anticipated to propel the automotive sensors market over the forecasted period.

Automotive Sensors Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the automotive sensors market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Allegro MicroSystems Inc. (Sanken Electric Co. Ltd.)
• Analog Devices Inc.
• BorgWarner Inc.
• Continental AG
• CTS Corporation
• DENSO Corporation
• Hitachi Ltd.
• Infineon Technologies AG
• Littelfuse Inc.
• NXP Semiconductors N.V.
• Robert Bosch GmbH
• Sensata Technologies Inc.
• TE Connectivity

Key Market Segmentation: 

The report has segmented the automotive sensors market on the basis of type, vehicle type, application, sales channel and region.

Breakup by Type:

• Level/Position Sensors
• Temperature Sensors
• Pressure Sensors
• Speed Sensors
• Gas Sensors
• Magnetic Sensors
• Others

Breakup by Vehicle Type:

• Passenger Cars
• Commercial Vehicles

Breakup by Application:

• Powertrain
• Chassis
• Vehicle Body Electronics
• Safety and Security
• Telematics
• Others

Breakup by Sales Channel:

• Original Equipment Manufacturer (OEM)
• Aftermarket

Breakup by Region:

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

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