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

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).

Automotive sensors are an essential component of a vehicle and are intended to detect, transmit, analyse, record, and display information about the vehicle's performance in both its internal and exterior environments. The demand for automotive sensors is anticipated to increase significantly during the projected period as a result of the rising acceptance of vehicle automation and the growing need for connected automobiles around the globe.

Miniaturization and enhanced communication capabilities, which enable their integration into vehicles without interfering with the essential functionality of the vehicle, are the primary developments driving the global market for automotive sensors.

The primary element fueling the market's expansion is the rising demand for safety and security in cars. The market has seen a surge in demand for automotive sensors, which is largely due to the government's increased emphasis on vehicle safety and pollution reduction.

Regulations are driving up demand for automobile sensors in systems including body control, power steering, temperature control, and anti-braking (ABS). As a common option in vehicles, these characteristics are being used by sensor makers.

US Automotive Sensor Market  is poised to grow at a sustainable CAGR for the next forecast year.