This report describes and explains the automotive sensors market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global automotive sensors market reached a value of nearly $28.53 billion in 2023, having grown at a compound annual growth rate (CAGR) of 9.3% since 2018. The market is expected to grow from $28.53 billion in 2023 to $53.21 billion in 2028 at a rate of 13.3%. The market is then expected to grow at a CAGR of 9.9% from 2028 and reach $85.33 billion in 2033.
Growth in the historic period resulted from the increased demand for passenger vehicles, strong economic growth in emerging markets, the rise in disposable income and the increase in demand for commercial vehicles. Factors that negatively affected growth in the historic period were limitations of sensors under challenging weather conditions and fluctuating prices of raw materials.
Going forward, the increasing automobile production, the growing adoption of electric vehicles, the increasing demand for safety features in automobiles, favorable government support and the growing demand for autonomous vehicles will drive the market. Factors that could hinder the growth of the automotive sensors market in the future include a lack of skilled workers.
The automotive sensors market is segmented by type into temperature sensors, pressure sensors, speed sensors, level/position sensors, magnetic sensors, gas sensors, inertial sensors and other types. The level/position sensors market was the largest segment of the automotive sensors market segmented by type, accounting for 26.7% or $7.61 billion of the total in 2023. Going forward, the pressure sensors segment is expected to be the fastest growing segment in the automotive sensors market segmented by type, at a CAGR of 15.4% during 2023-2028.
The automotive sensors market is segmented by vehicle type into passenger car, light commercial vehicle, heavy commercial vehicle and other vehicle types. The passenger car market was the largest segment of the automotive sensors market segmented by vehicle type, accounting for 65.3% or $18.64 billion of the total in 2023. Going forward, the light commercial vehicle segment is expected to be the fastest growing segment in the automotive sensors market segmented by vehicle type, at a CAGR of 13.8% during 2023-2028.
The automotive sensors market is segmented by technology into nano-electro-mechanical systems, micro-electro-mechanical systems and complementary metal-oxide-semiconductor. The micro-electro-mechanical systems market was the largest segment of the automotive sensors market segmented by technology, accounting for 80% or $22.82 billion of the total in 2023. Going forward, the nano-electro-mechanical systems segment is expected to be the fastest growing segment in the automotive sensors market segmented by technology, at a CAGR of 18.2% during 2023-2028.
The automotive sensors market is segmented by application type into body, powertrain, chassis and advanced driver assistance & autonomous driving systems (ADAS/AD). The advanced driver assistance & autonomous driving systems (ADAS/AD) market was the largest segment of the automotive sensors market segmented by application type, accounting for 39% or $11.14 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the automotive sensors market segmented by application type, at a CAGR of 22.5% during 2023-2028.
Asia-Pacific was the largest region in the automotive sensors market, accounting for 40.4% or $11.54 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the automotive sensors market will be Asia-Pacific and North America, where growth will be at CAGRs of 15.7% and 13.3% respectively. These will be followed by Western Europe and Eastern Europe, where the markets are expected to grow at CAGRs of 11.1% and 8.9% respectively.
The global automotive sensors market is fairly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 37.7% of the total market in 2022. Robert Bosch GmbH was the largest competitor with a 11.4% share of the market, followed by Denso Corporation with 6.8%, Continental AG with 4%, Infineon Technologies AG with 2.8%, NXP Semiconductors N.V. with 2.7%, TE Connectivity Ltd with 2.2%, Aptiv Plc with 2.2%, Analog Devices Inc with 2%, Texas Instruments Incorporated with 1.8% and Sensata Technologies Holding Plc with 1.8%.
The top opportunities in the automotive sensors market segmented by type will arise in the level/position sensors segment, which will gain $7.18 billion of global annual sales by 2028. The top opportunities in the automotive sensors market segmented by vehicle type will arise in the passenger car segment, which will gain $15.95 billion of global annual sales by 2028. The top opportunities in the automotive sensors market segmented by technology will arise in the micro-electro-mechanical systems segment, which will gain $19.07 billion of global annual sales by 2028. The top opportunities in the automotive sensors market segmented by application type will arise in the advanced driver assistance & autonomous driving systems (ADAS/AD) segment, which will gain $19.61 billion of global annual sales by 2028. The automotive sensors market size will gain the most in China at $7.88 billion.
Market-trend-based strategies for the automotive sensors market include advancements in automotive image sensor technology for enhanced advanced driver assistance systems (ADAS), integration of radar sensors in in-cabin monitoring systems to enhance automotive safety and automation, use of artificial intelligence (AI) in automotive sensors for advanced in-cabin sensing, proliferation of innovative sensor products driving advancements in automotive technology and strategic partnerships and collaborations among market players to drive innovation and expansion in the market.
Player-adopted strategies in the automotive sensors market include focus on strengthening operational capabilities through the launch of new products and focus on enhancing business operations through strategic collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the automotive sensors market companies to focus on technological advancements for market leadership, focus on radar sensor integration for enhanced in-cabin monitoring, focus on AI integration for enhanced automotive sensor capabilities, focus on continuous innovation for market leadership, focus on pressure sensors for market expansion, focus on nano-electro-mechanical systems for market dominance, expand in emerging markets, focus on strategic collaborations for market expansion, focus on diversifying distribution channels for market expansion, provide competitively priced offerings, focus on strategic pricing strategies for market leadership, participate in trade shows and events, continue to use B2B promotions, focus on digital engagement for enhanced market visibility, prioritize technical webinars for thought leadership, focus on fast-growing applications such as advanced driver assistance & autonomous driving systems (ADAS/AD), focus on manufacturers of light commercial vehicle segment for optimal growth and target electric vehicle manufacturers.
The global automotive sensors market reached a value of nearly $28.53 billion in 2023, having grown at a compound annual growth rate (CAGR) of 9.3% since 2018. The market is expected to grow from $28.53 billion in 2023 to $53.21 billion in 2028 at a rate of 13.3%. The market is then expected to grow at a CAGR of 9.9% from 2028 and reach $85.33 billion in 2033.
Growth in the historic period resulted from the increased demand for passenger vehicles, strong economic growth in emerging markets, the rise in disposable income and the increase in demand for commercial vehicles. Factors that negatively affected growth in the historic period were limitations of sensors under challenging weather conditions and fluctuating prices of raw materials.
Going forward, the increasing automobile production, the growing adoption of electric vehicles, the increasing demand for safety features in automobiles, favorable government support and the growing demand for autonomous vehicles will drive the market. Factors that could hinder the growth of the automotive sensors market in the future include a lack of skilled workers.
The automotive sensors market is segmented by type into temperature sensors, pressure sensors, speed sensors, level/position sensors, magnetic sensors, gas sensors, inertial sensors and other types. The level/position sensors market was the largest segment of the automotive sensors market segmented by type, accounting for 26.7% or $7.61 billion of the total in 2023. Going forward, the pressure sensors segment is expected to be the fastest growing segment in the automotive sensors market segmented by type, at a CAGR of 15.4% during 2023-2028.
The automotive sensors market is segmented by vehicle type into passenger car, light commercial vehicle, heavy commercial vehicle and other vehicle types. The passenger car market was the largest segment of the automotive sensors market segmented by vehicle type, accounting for 65.3% or $18.64 billion of the total in 2023. Going forward, the light commercial vehicle segment is expected to be the fastest growing segment in the automotive sensors market segmented by vehicle type, at a CAGR of 13.8% during 2023-2028.
The automotive sensors market is segmented by technology into nano-electro-mechanical systems, micro-electro-mechanical systems and complementary metal-oxide-semiconductor. The micro-electro-mechanical systems market was the largest segment of the automotive sensors market segmented by technology, accounting for 80% or $22.82 billion of the total in 2023. Going forward, the nano-electro-mechanical systems segment is expected to be the fastest growing segment in the automotive sensors market segmented by technology, at a CAGR of 18.2% during 2023-2028.
The automotive sensors market is segmented by application type into body, powertrain, chassis and advanced driver assistance & autonomous driving systems (ADAS/AD). The advanced driver assistance & autonomous driving systems (ADAS/AD) market was the largest segment of the automotive sensors market segmented by application type, accounting for 39% or $11.14 billion of the total in 2023. Going forward, it is expected to be the fastest growing segment in the automotive sensors market segmented by application type, at a CAGR of 22.5% during 2023-2028.
Asia-Pacific was the largest region in the automotive sensors market, accounting for 40.4% or $11.54 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the automotive sensors market will be Asia-Pacific and North America, where growth will be at CAGRs of 15.7% and 13.3% respectively. These will be followed by Western Europe and Eastern Europe, where the markets are expected to grow at CAGRs of 11.1% and 8.9% respectively.
The global automotive sensors market is fairly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 37.7% of the total market in 2022. Robert Bosch GmbH was the largest competitor with a 11.4% share of the market, followed by Denso Corporation with 6.8%, Continental AG with 4%, Infineon Technologies AG with 2.8%, NXP Semiconductors N.V. with 2.7%, TE Connectivity Ltd with 2.2%, Aptiv Plc with 2.2%, Analog Devices Inc with 2%, Texas Instruments Incorporated with 1.8% and Sensata Technologies Holding Plc with 1.8%.
The top opportunities in the automotive sensors market segmented by type will arise in the level/position sensors segment, which will gain $7.18 billion of global annual sales by 2028. The top opportunities in the automotive sensors market segmented by vehicle type will arise in the passenger car segment, which will gain $15.95 billion of global annual sales by 2028. The top opportunities in the automotive sensors market segmented by technology will arise in the micro-electro-mechanical systems segment, which will gain $19.07 billion of global annual sales by 2028. The top opportunities in the automotive sensors market segmented by application type will arise in the advanced driver assistance & autonomous driving systems (ADAS/AD) segment, which will gain $19.61 billion of global annual sales by 2028. The automotive sensors market size will gain the most in China at $7.88 billion.
Market-trend-based strategies for the automotive sensors market include advancements in automotive image sensor technology for enhanced advanced driver assistance systems (ADAS), integration of radar sensors in in-cabin monitoring systems to enhance automotive safety and automation, use of artificial intelligence (AI) in automotive sensors for advanced in-cabin sensing, proliferation of innovative sensor products driving advancements in automotive technology and strategic partnerships and collaborations among market players to drive innovation and expansion in the market.
Player-adopted strategies in the automotive sensors market include focus on strengthening operational capabilities through the launch of new products and focus on enhancing business operations through strategic collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the automotive sensors market companies to focus on technological advancements for market leadership, focus on radar sensor integration for enhanced in-cabin monitoring, focus on AI integration for enhanced automotive sensor capabilities, focus on continuous innovation for market leadership, focus on pressure sensors for market expansion, focus on nano-electro-mechanical systems for market dominance, expand in emerging markets, focus on strategic collaborations for market expansion, focus on diversifying distribution channels for market expansion, provide competitively priced offerings, focus on strategic pricing strategies for market leadership, participate in trade shows and events, continue to use B2B promotions, focus on digital engagement for enhanced market visibility, prioritize technical webinars for thought leadership, focus on fast-growing applications such as advanced driver assistance & autonomous driving systems (ADAS/AD), focus on manufacturers of light commercial vehicle segment for optimal growth and target electric vehicle manufacturers.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Automotive Sensors Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Automotive Sensors Market Segmentation
11 Automotive Sensors Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Key Mergers and Acquisitions
21 Opportunities and Strategies
22 Automotive Sensors Market, Conclusions and Recommendations
23 Appendix
Executive Summary
Automotive Sensors Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global automotive sensors market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description:
Where is the largest and fastest-growing market for automotive sensors? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The automotive sensors market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider automotive sensors market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics-Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by vehicle type, by technology and by application type.
- Key Trends-Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario-The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the automotive sensors market.
- Global Market Size and Growth-Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis-Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation-Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by vehicle type, by technology and by application type in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth-Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape-Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Key Mergers and Acquisitions-Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies-Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations-This section includes recommendations for automotive sensors providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix-This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) by Type: Temperature Sensors; Pressure Sensors; Speed Sensors; Level/Position Sensors; Magnetic Sensors; Gas Sensors; Inertial Sensors; Other Types.2) by Vehicle Type: Passenger Car; Light Commercial Vehicle; Heavy Commercial Vehicle; Other Vehicle Types.
3) by Technology: Nano-Electro-Mechanical Systems; Micro-Electro-Mechanical Systems; Complementary Metal-Oxide-Semiconductor.
4) by Application Type: Body; Powertrain; Chassis; Advanced Driver Assistance & Autonomous Driving Systems (ADAS/AD)
Key Companies Mentioned: Robert Bosch GmbH; Denso Corporation; Continental AG; Infineon Technologies AG; NXP Semiconductors N.V.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; automotive sensors indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- Robert Bosch GmbH
- Denso Corporation
- Continental AG
- Infineon Technologies AG
- NXP Semiconductors N.V.
- TE Connectivity Ltd
- Aptiv Plc
- Analog Devices Inc
- Texas Instruments Incorporated
- Sensata Technologies Holding Plc
- Huawei Technologies Company Limited
- Panasonic Corporation
- Hitachi Automotive Systems
- Hyundai Mobis
- LG Innotek
- Cohda Wireless
- Micron Technology
- Nanjing Shuangfei Auto Sensor Company Limited
- Honeywell (China) Company Limited
- Foryou General Electronics Company Limited
- Beijing Shunyi Senring Electronics Company Limited
- Delphi Technologies Holding Company Limited
- Automotive Data Systems (ADS) Technology Company Limited
- ZF Friedrichshafen Company Limited
- NGK Spark Plug (China) Company Limited
- Weifu High-Technology Group Company Limited
- Shanghai Nicera Sensor Company Limited
- Shenzhen Comfort Motion Technologies Company Limited
- Valeo
- STMicroelectronics
- SEAT, S.A
- Gestamp
- Applus+
- IDIADA
- Autoliv
- Veoneer
- Hexagon AB
- Sensirion
- ABB
- Autoneum
- Magneti Marelli
- Brembo
- Ricardo plc
- Laird Connectivity
- AVTOVAZ
- KAMAZ
- NPO Avtomatiki
- Allegro Microsystems, Inc
- Harman International
- Sensortec
- BorgWarner
- VackerGlobal
- VISIO AE
- Switches International (PTY)
- Senstronic AFS (Pty) Ltd
- Festo (Pty) Ltd
- Anglo Allied Engineering (Pty) Ltd
- Electri-sales
- Enviromon
- A T I Systems
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 279 |
Published | March 2024 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 28.5 Billion |
Forecasted Market Value ( USD | $ 85.3 Billion |
Compound Annual Growth Rate | 11.6% |
Regions Covered | Global |
No. of Companies Mentioned | 60 |