What is the key driver of Global Automotive Sensor Market?

The key driver of the Global Automotive Sensor Market is the increasing global consumption of tea, which encourages market growth by 13.60% during the forecast period (2024-2031).

What is the key market trend for Global Automotive Sensor Market?

The key market trend for the Global Automotive Sensor Market is the significant industry expansion driven by public concern about safety and security.

Automotive Sensor Market Size, Share, Growth Analysis, By Technology(MEMS and non-MEMS technology), By Vehicle type(Electric Vehicles, Heavy Duty Trucks, Heavy-Duty Buses, and Conventional Vehicles), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Automotive Sensor Market?

Global Automotive Sensor Market size was valued at USD 31.36 billion in 2022 and is poised to grow from USD 35.62 billion in 2023 to USD 98.81 billion by 2031, at a CAGR of 13.60% during the forecast period (2024-2031).

Q: Who are the key vendors in the Global Automotive Sensor Market?

Key vendors in the Global Automotive Sensor Market include 'Robert Bosch GmbH', 'Continental AG', 'Denso Corporation', 'Aptiv PLC', 'Infineon Technologies AG', 'Texas Instruments Incorporated', 'TE Connectivity Ltd.', 'STMicroelectronics NV', 'NXP Semiconductors NV', 'Analog Devices Inc.', 'Sensata Technologies Holding plc', 'Panasonic Corporation', 'Delphi Technologies PLC', 'ZF Friedrichshafen AG', 'Murata Manufacturing Co. Ltd.', 'Valeo SA', 'Autoliv Inc.', 'Magna International Inc.', 'Mitsubishi Electric Corporation', and 'Hella GmbH & Co. KGaA'.

Q: Which region accounted for the largest share in Global Automotive Sensor Market?

Asia Pacific accounted for the largest share in the Global Automotive Sensor Market, driven by rising demand for vehicles with improved safety features and increasing purchasing power in the region, notably in emerging economies such as China and India.

Report ID: SQMIG20D2053 | Region: Global | Published Date: July, 2024
Pages: 202 | Tables: 62 | Figures: 75

Automotive Sensor Market News

In April 2021, Honda released its modern advanced driver-assistance systems ADAS “Honda Sensing Elite” for a special range of vehicles available in Japan. The system has SAE level 3 capabilities and comes with the Traffic Jam pilot module.

In November 2021, For city rail transportation, Robert Bosch GmbH created an innovative and cutting-edge driver-assistance system. It alerts the tram driver via a signal in the event of a potential collision. The technology automatically slows the tram until it comes to a complete stop in order to avoid an impact or, at the very least, to lessen damage as much as possible if the driver fails to intervene or does so too late.

Automotive Sensor Market Report Snapshots

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Automotive Sensor Market size was valued at USD 31.36 billion in 2022 and is poised to grow from USD 35.62 billion in 2023 to USD 98.81 billion by 2031, at a CAGR of 13.60% during the forecast period (2024- 2031).

Due to the rising use of sensor technology in the automotive sector, the market for automotive sensors presents a significant opportunity for market participants to build their businesses. Another growth strategy that a sizable number of businesses are using to maintain their market share is product creation and enhancement. 'Robert Bosch GmbH', 'Continental AG', 'Denso Corporation', 'Aptiv PLC', 'Infineon Technologies AG', 'Texas Instruments Incorporated', 'TE Connectivity Ltd.', 'STMicroelectronics NV', 'NXP Semiconductors NV', 'Analog Devices Inc.', 'Sensata Technologies Holding plc', 'Panasonic Corporation', 'Delphi Technologies PLC', 'ZF Friedrichshafen AG', 'Murata Manufacturing Co. Ltd.', 'Valeo SA', 'Autoliv Inc.', 'Magna International Inc.', 'Mitsubishi Electric Corporation', 'Hella GmbH & Co. KGaA'

Some of the key drivers driving the market expansion include the increasing need for sensors in electric and hybrid vehicles, increased pressure sensor application in the automotive industry, and considerable growth in custom-designed automotive electronic devices.

In recent years, the industry expansion has also been significantly fueled by public concern about safety and security.

The region with the greatest presence on the worldwide market is Asia Pacific. In 2021, the region had a sizable revenue share, and in the years to come, it will continue to develop profitably. Rising demand for vehicles with improved safety features and rising purchasing power in the region are the main causes of this. The need for automotive sensors is particularly high in emerging economies in the Asia-Pacific region, including China and India. The region's large consumer base and efforts to promote the green revolution have expanded the use of sensor technologies notably in the automotive industry.

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Automotive Sensor Market Size, Share, Growth Analysis, By Technology(MEMS and non-MEMS technology), By Vehicle type(Electric Vehicles, Heavy Duty Trucks, Heavy-Duty Buses, and Conventional Vehicles), By Region - Industry Forecast 2024-2031

Automotive Sensor Market News

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What is the market size of Automotive Sensor Market?

Who are the key vendors in the Automotive Sensor Market?

What is the key driver of Automotive Sensor Market?

What is the key market trend for Automotive Sensor Market?

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