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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Automotive Sensors Market Size
The global automotive sensors market size attained a value of approximately USD 33.52 billion in 2023. The market is further expected to grow at a CAGR of 9.50% in the forecast period of 2024-2032, reaching a value of around USD 75.85 billion by 2032.
Key Trends in the Market
Automotive sensors refer to electronic devices that are designed to monitor specific aspects of vehicular performance and transmit information to the electronic control unit of the vehicle or to the driver. These devices can be used to check aspects such as pressure, temperature, position, speed, and gas. Automotive sensors are also capable of examining and determining range of values which would optimise vehicular performance.
- Technological advancements in infotainment systems are among the key automotive sensors market trends as various data garnered from the sensors can be easily viewed through infotainment system display screens. Increasing investments towards upgrading infotainment features, such as LED screens, navigation, and Bluetooth connectivity, are expected aid the market further.
- Automotive sensors provide features and data that improve the safety of driving which is building an increased demand among customers. This factor is encouraging more automakers to incorporate a variety of automotive sensors in low- to mid-tier car models to enhance the driving experience and safety of passengers.
- Rapid electrification of automobiles, leading to a heightened sale of electric passenger and commercial vehicles, is a crucial trend in the automotive sensors market. As more governments encourage electric vehicles, the usage of advanced automotive sensors in electric vehicles is anticipated to rise to further optimise vehicular movement.
Automotive Sensors Market Report Snapshots
Automotive Sensors Market Size
Automotive Sensors Market Analysis
Automotive Sensors Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of USD 33.52 billion in 2023.
The market is estimated to grow at a CAGR of 9.50% between 2024 and 2032.
The market is estimated to witness a healthy growth between the forecast period of 2024-2032, reaching a value of USD 75.85 billion by 2032.
The major drivers of the market include increasing demand for passenger cars, thriving transportation sector, and growing focus on automotive safety.
The key trends in the market include technological advancements in automotive sensors, rapid electrification of motor vehicles, and increasing aftermarket sales of automotive sensors.
The different sensor types in the market for automotive sensors are temperature sensors, pressure sensors, level/position sensors, speed sensors, gas sensors, and magnetic sensors, among others.
The various applications of automotive sensors in the market are powertrain, chassis, vehicle body electronics, safety and control systems, telematics systems, and exhaust systems, among others.
The major market players, according to the report, are Infineon Technologies AG, Robert Bosch GmbH, NXP Semiconductors N.V., Continental AG, and Littelfuse, Inc., among others.
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