Skip to main content

At 6.3%% CAGR, Automotive Sensors Market Size [2022-2028] to reach USD 15.6 Billion | Fortune Business Insights

Written by Customer Service on . Posted in Mergers And Acquisitions.

Automotive Sensors Market to Hit USD 15.6 Billion with 6.38% ACGR by 2028; Rising Popularity of Autonomous Vehicles to Propel Market Growth: Says Fortune Business Insights™

Pune, India, Feb. 11, 2022 (GLOBE NEWSWIRE) — The global automotive sensors market size is projected to reach USD 15.6 billion by 2028 and exhibit a CAGR of 6.38% during the forecast period. Fortune Business Insights™ has presented this information in its report titled, “Automotive Sensors Industry, 2022-2028”. The market size stood at USD 10.44 billion in 2020.

Industry Development:

  • June 2021: Navya and Valeo extended their industrial and technological collaboration for autonomous shuttles. Navya will share the functional and technological data gathered during experiments, and Valeo will furnish Navya with sensors that enable vehicles to comprehend their surroundings.


Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/automotive-sensors-market-101690


Market Growth Factors:

  • Manufacturers incorporate non-contact 3D magnetic sensors to replace the optical systems or potentiometers that use conventional position-sensing methods. These sensors improve driver concentration by eliminating manual control functions, including infotainment and vehicle lighting.
  • Increase in use of pressure sensors in the automotive industry, surge in demand for automotive sensors in hybrid and electric cars, and rise in use of custom designed electronic devices. Technological advancements in the automobile industry and growth in the automotive sector are expected to offer lucrative opportunities for the market globally
  • The market for most automotive sensors is growing in line with the overall growth of the automotive market. The high adoption of ADAS and AD systems is the major reason for the elevated demand for automotive sensors.
  • Chassis sensors monitor functions such as braking, steering, and suspension. A cluster of sensors is used in ADAS/AD systems, braking systems, and power steering systems of SAE AV Level 3 vehicles. Body sensors measure the condition and performance of the vehicle on several parameters.


To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/automotive-sensors-market-101690


Market Segmentation:

On the basis of type, the market is segmented into position sensor, speed sensor, pressure sensor, temperature sensor, and others. On the basis of application type, the market is fragmented into ADAS, exhaust, chassis, powertrain, and others. On the basis of vehicle type, the market is trifurcated into heavy commercial vehicles (HCVs), light commercial vehicles (LCVs), and passenger cars. Geographically, the market is classified into four major regions- Asia Pacific, North America, Europe, and the Rest of the World.

Report Coverage:

  • The report provides a detailed assessment of the growth potential, demographics, and capabilities of the market.
  • The report analyses the current and upcoming investment opportunities in the market.
  • The report highlights strategies for growth in the upcoming years.
  • The report also analyzes the impact of the COVID-19 pandemic.


Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/automotive-sensors-market-101690


Regional Insights:

Improving Disposable Income Levels to Boost Growth in Asia Pacific

Asia Pacific is projected to gain the largest portion of the global automotive sensors market share. The improving personal disposable income levels and available cheap labor are expected to fuel the market growth. Moreover, the increasing purchasing power of consumers, rising investments in infrastructure development for the automotive sector, and surging demand for more efficient and safer vehicles are other key factors accelerating the growth of the automotive sensors market in Asia Pacific.

Automotive production in developing economies is growing at a fast pace, compared to the developed economies, owing to increasing urbanization and stable economic conditions. With an increase in the safety concerns among the consumers in the developing economies of India and the ASEAN countries, the automobile manufacturers are incorporating more sensors in low-cost vehicles. It is expected to drive the demand for automotive sensors in the foreseeable future.


Competitive Landscape:

Key Players Launch New Products to Garner Growth in the Market

The market is fairly competitive, and NXP Semiconductors, Infineon Technologies AG, Robert Bosch GmbH, and STMicroelectronics comprise the key players in the global market. The key players emphasize increased research and development activities to produce high-performance and low-power-consuming sensors.


Quick Buy – Automotive Sensors Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101690


Key Players in the Global Market are:

  • 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, U.S.)
  • Allegro Microsystems, LLC (New Hampshire, U.S.)
  • CTS Corporation (Illinois, U.S.)
  • Elmos Semiconductor (Dortmund, Germany)
  • Sensata Technologies (Attleboro, Massachusetts, U.S.)


About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

US : +1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: sales@fortunebusinessinsights.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.