Automotive Sensor Market Size, Share, Research Report, 2022

The global automotive sensor market size is estimated to grow at a CAGR of over 9% from 2015 to 2022. Proliferating governmental manoeuvre for commuter safety and eco-friendly needs are likely to drive market growth.

Vital industry factors namely energy, compactness & low cost are expected to serve as a key growth driver. Significant applications in various equipments such as drivetrain, engine and emission control systems are expected are anticipated to elevate the demand for automotive sensors. Bulk manufacturing and energy efficiency are the properties expected to impact the market demand for product. Ease of Integration paired with enhanced communication ability and miniaturization is likely to fuel the demand.

Evolution in micro and nano technology owing to development of innovative applications is likely to boost the industry. Intelligent data processing needs owing to escalation towards self driven cars is anticipated to act as an avenue for automotive sensor market demand.

Increasing investments and changing customer preferences are expected to serve as a pathway for the market growth. Rigorous research and development in these products is likely to offer potential opportunities owing to innovation of new and better products. Expectations from original equipment manufacturer (OEM) accompanied by pricing concerns and aftermarket issues are likely to have colossal impacts and serve as key market restraint. Ascending demand for ADAS (Advance Driver Assistance Systems) coupled with electric and hybrid vehicles is expected to furnish automotive sensor industry with better opportunities for existing industry participants along with new market entrants.

The automotive sensor market can be segmented based on the type of product and application. Based on product, it can be segmented as physical property, process variable, proximity & positioning, chemical property. Physical parameters namely force, vibration, motion and speed is measured using physical property devices. This factor is expected to lead the market owing to highest revenue share.

Devices sensing pressure, temperature, flow & level are encapsulated under process variable segment and it is likely to grow at a CAGR of over 8% during the forecast period. Proximity and positioning devices are used for managing electronic stability in information displays & control. Gas levels such as oxygen (O2) and nitrogen oxides (NOx) are measured using chemical property devices. Based on application, it can be segmented as engine & drivetrain, safety & security and emission control. Safety and security system is used to monitor levels such as tire inflation and wheel spread.

Europe is expected to exhibit substantial growth owing to existence of potential automobile manufacturers in the region. Asia Pacific automotive sensors market is anticipated to witness moderate growth rates owing to rapid growth of the automobile industry. United States is anticipated to exhibit high growth rates owing to FMCSA (Federal Motor Carrier Safety Administration) initiatives for reducing the rate of accidents.

Industry participants such as Robert Bosch & Denso and Delphi account for significant chunk of the automotive sensor market. Other market players include Sensata, Analog Devices and Freescale Semiconductor.