According to a market research report by BIS Research, titled “Global Automotive Sensors Market – Analysis and Forecast (2017-2021)”, the automotive sensors market is estimated to reach $25.56 billion by 2021 at a CAGR of 7.5% from 2017 to 2021. The global automotive sensor market has been fundamentally benefiting from the changing paradigms in government regulations and end-users’ perspective towards enhanced safety in automobiles. Ongoing integration of semiconductors and Internet of Things (IoT) is further expected to drive the market growth in the forecast period. In addition to this, impending demand of automotive sensors and intense competition between suppliers have resulted in a sharp decline in Average Selling Price (ASPs) of sensors, thereby expanding the range of opportunities to target a greater customer pool.
Browse 99 market data Tables and 114 Figures spread through 277 Pages and in-depth TOC on "Global Automotive Sensors Market"
The market intelligence report provides a detailed analysis of the key growth drivers and restraining forces of the global automotive sensors market, with an extensive insight into various forms of developments, trends and key participants in the market. Sensors play a crucial role in automotive industry as they enhance vehicle performance by ensuring vehicle safety and improving fuel efficiency. The automotive industry is primarily focusing on advanced control and autonomous driving systems for transmission, emission control, engine management, and safety application which requires sensors that provide highly reliable and accurate information. The market is driven by increasing government regulations on safety and emissions. For instance, the current Corporate Average Fuel Economy (CAFÉ) standards has mandated an increase of average fuel economy standard to 35.5 miles per gallon by 2016 and 54.5 miles per gallon by 2025. Leading automotive sensor and semiconductor manufacturers across the world are introducing latest engine management system and micro controller units (MCUs) that incorporate large number of different sensors to comply with CAFE vehicle emission standard regulations.
According to Surabhi Rajpal, analyst at BIS Research, “Electric vehicles (EV) sensor market will experience a higher growth rate in the forthcoming years as compared to conventional fuel vehicles sensor market.” Factors such as growing concerns about environmental protection, increasing sales of EVs, and governmental initiatives have propelled the market to grow at a dynamic pace. Government of different countries are offering exemptions from annual tonnage tax and reductions for automobile tax to encourage the use of electric vehicles.
The landscape of the automotive sensors market has transformed drastically and has laid path for several new sensors in the market such as LiDARs, radars, cameras, and ultrasonic sensors, among others. The market has been divided along the lines of sensor type, application, and vehicle type. The automotive sensor market by type is categorized into: pressure, temperature, level, inertial, speed, position, and others. The pressure sensors, followed by others, held the highest share by volume and value in 2016. Factors such as miniaturization, growing demand for MEMS pressure sensor, and wide application properties have carved such a giant share for pressure sensor in the automotive sensor market. On the basis of application, the automotive sensors market is segmented into powertrain, chassis, body, and safety. Powertrain application dominated the automotive sensor market by value and volume in 2016. Stringent government regulations over vehicle fuel efficiency and development of the automated engine management system to increase vehicle efficiency contributed to the market size of powertrain sensors.
BIS Research Report:
The increased adoption of sensors for safety application is because of the growing demand for luxury vehicles and stringent government regulations. Geographically, Asia-Pacific dominated the global automotive sensor market, while Europe is expected to grow the fastest during the forecast period. Factors such as increased demand for electric and luxury vehicles, high presence of sensor manufacturers, and stringent government regulations with regard to installation of Advanced Driver Assistance Systems (ADAS) will drive the market growth in Europe.
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The market report includes a thorough analysis of the market trends and size, along with market estimation based on key geographical regions. Inculcating detailed financial analysis of key players in the market, the report provides individual SWOT analysis of each company. Some of the key players analyzed in the report are Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive PLC (U.K), Denso Corporation (Japan), Infineon Technologies AG (Germany), Sensata Technologies, Inc. (U.S), and Analog Devices, Inc. (U.S) . The key strategies being adopted by the market players are product launches, joint ventures, collaborations, partnerships, and contracts to attain their respective market shares in this emerging domain.
This report is a meticulous compilation of research on more than 100 players in the automotive sensors ecosystem and draws upon insights from in-depth interviews of key opinion leaders, market participants and vendors.
The report addresses the following questions about the global automotive sensors market:
- What is the market size in terms of revenue and volume from 2017-2021 for the global automotive sensors market?
- What is the market size in terms of revenue and volume for the sensor type such as pressure, temperature, level, inertial, speed, position, and others in the global automotive sensors market?
- Which application of the automotive sensors will dominate the market during the forecast period by volume and value?
- What is the market size in terms of revenue and volume for the vehicle type such as luxury cars, battery electric vehicles, and heavy commercial vehicles among others in the global automotive sensors market?
- What is the market share of different sensors types with respect to applications and geographical regions in the global automotive sensors market?
- What is the market size in terms of revenue and volume of different applications with respect to sensor type in the global automotive sensors market?
- What is the market size in terms of revenue and volume of different applications with respect to sensor type in the global automotive sensors market?
- What is the market size in terms of revenue and volume of different vehicles with respect to sensor type and application in the global automotive sensors market?
- What are the different factors which are driving the market forward during the forecast period?
- What are the major factors challenging the growth of the global automotive sensor market?
- What are the new strategies adopted by the existing market players to make a mark in the industry?
- Which regions will lead the global automotive sensor market by the end of the forecast period?