Automotive Sensors Market Size Worth USD 59.22 Billion by 2028

The automotive sensors market was valued at USD 27.55 billion in 2021. It is forecast to reach USD 59.22 billion in 2027. A CAGR of 13.69% is expected during the forecast period (2022-2027).

Sensors are an essential part of electronic control systems in vehicles. Sensors are used to monitor various parameters of vehicles, such as fuel consumption, pollution and airbag deployment. The automotive industry uses many sensors such as temperature sensors, oxygen sensors, mass airflow sensors, speed sensors, coolant sensors, and even temperature sensors. The sensors ensure the safe and efficient operation of your vehicle by monitoring, analyzing, and controlling its performance in both the external and internal environment.

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Driving Factors

Many factors have contributed to the tremendous growth of this market. Rising disposable income, especially among the middle class, is one of key factors driving the Automotive sensors market trends. These sensors can be used for various purposes, including measuring temperature, pressure, torque, or position.

The success of the automotive sensor market has also been helped by the rise in miniaturization across different regions.

Restraining Factors

Due to the limited production, it is impossible to lower the cost of sensors for Advanced Driver Assistance System. The current sensors also have a limited signal bandwidth and measuring range making it difficult to distinguish system noise from signals like road hazards. Tracking moving objects is more difficult in less ideal environments like rain or blizzards. These factors will likely limit the market’s growth.

Market Key Trends

Increased Demand for Pressure Sensors

Engine safety and engine performance are being enhanced by pressure sensors. The sensors in the engine monitor oil and coolant pressure. They regulate engine power to reach the desired speed.

The main reason for the increased demand for automotive sensors is the rising adoption of ADAS, autonmous driving system and other advanced technologies. This will likely increase the demand to supply pressure sensors. The penetration of pressure sensors is likely to rise as a result of the rising demand for safety and comfort features in vehicles.

In the case of safety features pressure sensors are an integral part of the anti lock braking system (ABS). This adapts to road conditions and ensures that tires don’t lock and the vehicle doesn’t skid when braking at high speeds.

The ABS has pressure sensors that inform the processor about road conditions and the vehicle’s speed.

Airbag systems can also be activated by pressure sensors. This is to ensure that the driver and passengers are safe in the event of a crash.

OEMs and race teams use pressure sensors extensively in their onboard vehicle diagnostics, test equipment and testing equipment. Depending on the application, pressure sensors can be digitally reinforced to measure absolute pressure ranges.

The demand for these sensors will rise significantly due to the rapid integration of safety systems into vehicles, particularly in North America and Europe.

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Recent development

  • January 2020 – Robert-Bosch GmbH (German-based) became the first company in Germany to launch long-range lidar sensor, the first automotive-friendly lidar system.
  • April 2020 – Infineon technologies acquire Cypress Semiconductor. This is a world leader in semiconductor production and design. This acquisition will allow Infineon Technologies to expand its automotive semiconductors, microcontrollers and sensors.

  • Continental AG, a German manufacturer of automotive components, invested in sensor innovator AEye in October 2020. The two companies will collaborate to develop high-performance, long-range Lidar sensors that can be used for fully automated and advanced driving of passenger cars as well as commercial vehicles.
  • Infineon Technologies AG introduced the XENSIV TLE4972 automotive current sensor in October 2021. For precise and stable current measurements, the coreless current sensor uses Infineon’s Hall technology.
  • Robert Bosch GmbH created an advanced driver-assistance system to support city rail transport in November 2021. It first alerts the tram driver in the event of a collision by sending out a signal. The system will automatically stop the tram if the driver fails to intervene or is too late to do so. This does this to either prevent or reduce the impact as much as possible.

Key Companies

  • Robert Bosch GmbH
  • Stmicroelectronics N.V.
  • General Electric
  • CTSoration
  • Analog Devices
  • Sensata Technologies
  • Denso
  • Continental
  • Measurement Specialities
  • Freescale Semiconductor
  • Autoliv
  • Elmos Semiconductor
  • Allegro Microsystems
  • Infineon Technologies
  • Delphi Automotive

Segmentation

Type

  • Inertial Sensors
  • Magnetic Sensors
  • Speed Sensors
  • Level/Position Sensors
  • Temperature Sensors
  • Oxygen Sensors
  • MEMS Sensors

Application

  • Passenger Car
  • Commercial Vehicle

Frequently Asked Questions

  • How big is the market for automotive sensors?
  • What was the growth rate of the automotive sensors market over the past five years?
  • What are the top trends in the automotive sensors market?
  • What is the market growth rate for automotive sensors in terms of volume?
  • What are the prospects for North American automotive sensors markets?
  • Which companies are leaders in the automotive sensor market?
  • How large is the automotive sensors market share?
  • What rate will European automotive sensors sales grow?
  • What is the annual growth rate of global automotive sensors market?
  • What are the main statistics on the automotive sensors market in Japan or South Korea?
  • What are the top companies in the automotive sensor market? Which are their main strategies to increase their market presence?
  • What is the region’s potential market for automotive sensors?
  • What are the potential opportunities for new market entrants
  • What are the opportunities and drivers for the automotive sensor market?
  • What are the main applications for automotive sensors that will drive market growth in the next five years?

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Avatar of Linda Hohnholz

Linda Hohnholz

Editor in chief for eTurboNews based in the eTN HQ.

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