Automotive Comparators Global Market Report 2024

The automotive comparators market size has grown strongly in recent years. It will grow from $2.59 billion in 2023 to $2.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth witnessed in the historical period can be traced back to several factors, including heightened customer satisfaction, the expansion of the automotive sector, a surge in the need for safety enhancements, elevated consumer expectations, and a growing market for fuel-efficient automobiles.

The automotive comparators market size is expected to see strong growth in the next few years. It will grow to $3.35 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be attributed to various drivers such as the escalating demand for dependable and top-notch vehicles, the surge in interest towards electric automobiles, a rising need for precise measurement instruments, an increasing preference for smart sensors and Internet of Things (IoT) solutions in vehicles, and a growing focus on digitalization. Noteworthy trends expected in this period encompass a mounting appetite for cutting-edge technology, a strong emphasis on quality assurance and precise engineering, a shift towards sustainable and environmentally-friendly designs, pricing pressures prompting cost-optimization approaches, and a rising demand for bespoke and application-specific comparators.

The automotive industry's expansion is anticipated to drive the automotive comparators market's growth in the foreseeable future. Comprising a diverse array of entities engaged in motor vehicle design, development, manufacturing, marketing, and sales, the automotive sector's growth is propelled by technological advancements, increasing demand for connectivity, a shift towards eco-friendly practices, and the rising popularity of autonomous and electric vehicles. Automotive comparators play a pivotal role for consumers, manufacturers, and dealerships, facilitating thorough vehicle comparisons based on features, pricing, and performance. This fosters informed decision-making and strategic analysis within the automotive domain. For example, in 2022, the European Automobile Manufacturers Association reported a global production of approximately 85.4 million motor vehicles, marking a 5.7% increase from 2021. Hence, the automotive industry's expansion propels the automotive comparators market's growth.

Leading companies in the automotive comparators sector are concentrating on developing innovative offerings, such as isolated comparators, to maintain their market presence. Isolated comparators are electronic devices employed in automotive systems to compare two voltages while ensuring electrical isolation between input and output. This isolation is vital for safeguarding sensitive components and ensuring dependable operation across diverse automotive applications. For instance, in February 2024, Novosense SSE, a semiconductor firm based in China, introduced the NSI22C1x series of isolated comparators. These comparators leverage capacitive isolation technology to deliver rapid, high-voltage monitoring and customizable protection thresholds, rendering them suitable for demanding industrial and automotive environments. Capable of detecting overcurrent, overvoltage, overtemperature, undervoltage, and zero-crossing events, these comparators offer advanced functionality.

In April 2024, Microchip Technology Incorporated, a US-based microcontroller manufacturer, acquired VSI Co. Ltd. for an undisclosed sum. This acquisition aims to enrich Microchip's automotive portfolio by integrating advanced driver-assistance systems (ADAS) and digital cockpit technologies, fortifying its position in the swiftly evolving automotive sector. Additionally, it enhances Microchip's capabilities in furnishing comprehensive connectivity solutions for next-generation vehicles. VSI Co. Ltd., headquartered in South Korea, specializes in automotive comparators.

Major companies operating in the automotive comparators market are Lear Corporation, Texas Instruments Incorporated, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductor Inc., Analog Devices Inc., Renesas Electronics Corporation, ON Semiconductor Corporation, Microchip Technology Incorporated, Keyence Corporation, Skyworks Solutions Inc., Nisshinbo Micro Devices Inc., Rohm Co. Ltd., Maxim Integrated, Diodes Incorporated, Monolithic Power Systems Inc., Ashcroft Inc., ABLIC Inc., Mitutoyo Corporation, Mahr GmbH.

North America was the largest region in the automotive comparators market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive comparators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive comparators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Automotive comparators serve as tools or systems within the automotive sector, enabling the comparison of specific attributes, features, or performance metrics across different vehicles or components. They find application in quality control, performance benchmarking, design validation, and aiding consumer decision-making.

Two primary types of automotive comparators exist digital and dial-type. Digital variants employ electronic mechanisms utilizing digital technology to measure the dimensions of automotive parts. These digital comparators offer different channels single, dual, and four channels which cater to various applications ranging from automotive manufacturing to the aftermarket.

The automotive comparators market research report is one of a series of new reports that provides automotive comparators market statistics, including automotive comparators industry global market size, regional shares, competitors with an automotive comparators market share, detailed automotive comparators market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive comparators industry. This automotive comparator research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive comparators market consists of sales of automotive-compliant comparators, bipolar comparators, ground sense comparators, dual supply comparators, low noise comparators, low saturation comparators, high-speed comparators, low power comparators, and low current consumption comparators. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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