The global automotive sensor market is set to witness a steady growth over the next several years projects Market Research Future (MRFR) in its latest report. Noteworthy advances in microcontroller and sensor technologies allowed the automotive sector to integrate complex sensor systems in vehicles, making them safer and efficient.
Increased sales of passenger cars in reflecting favourably on the global automotive sensor market. On the back of changing consumer expectations, regulatory bodies are adding new parameters for car makers. Modern vehicles are produced bearing in mind elements such as performance, fuel-efficiency, comfort, safety among others.
The automotive industry is highly dynamic and is characterized by a large number of participants. This continues to influence its sub-markets. There is a growing market for automotive components such as sensors. The arrival of hybrid vehicles and increased focus towards aesthetics and safety feature is also supporting the market growth. However, such verticals are capital intensive, which remains a major constraint. Small-sized companies find it extremely challenging in enter the global automotive sensor market owing to the requirement of heavy investment. The considerably strong entry barrier for new entrants continues to have an unfavourable impact on the global automotive sensor market.
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Global Automotive Sensor Market: Segmental Analysis
The study includes a thorough segmental analysis of the market based on method, sensor type, application and vehicle type.
On the basis of method, the market has been segmented into temperature sensor, motion sensor, torque sensor, level sensor, pressure sensor, position sensor, gas sensor, optical sensor and others.
On the basis of sensor type, the market has been segmented into Nano- electro-mechanical systems (NMEMS), non- electro-mechanical systems (Non-MEMS), as - micro- electro-mechanical systems (MEMS) and others.
On the basis of application, the market has been segmented into body electronics, safety and control, automobile and others.
On the basis of vehicle type, the market has been segmented into heavy vehicles, alternative fuel cars, conventional fuel cars and others.
Global Automotive Sensor Market: Regional Analysis
Based on region, the market has been segmented into Asia Pacific (APAC), Europe, North America and Rest of the World (RoW). In recent year, Asia Pacific has been a highly attractive market for automotive sensor size . In 2018, APAC made a significant contribution to the global automotive sensor market in terms of revenue. Driven by the exponential growth of the automotive sector, the market in APAC is expected to exhibit a healthy progression in the foreseeable future. Countries such as China, India, Indonesia among others present attractive growth opportunities to market players. China’s dominance in automotive manufacturing has remained unchallenged for several years now and trend is likely to continue beyond 2019. Factors such as rising per capita income and a growing middle class make the region a key investment destination. Demand for passenger car has swelled up across the region. APAC is followed by North America and Europe.
Global Automotive Sensor Market: Competitive Landscape
MRFR in its study has profiled players such as Avago Technologies (CA), Bourns (CA), Denso Corporation (Japan), Analog Devices Inc. (US), CTS Corporation (US), Delphi automobile (UK), Gill sensors controls (UK) and Bosch Sensortec (Germany).
- RoboSense a leading LiDAR environment perception solution provider has reportedly teamed up with Cainiao Network, AutoX, Horizon Robotics and Sensible 4 to introduce the Smart Sensor System (SSS). This innovative sensor technology is designed for a set of smart transportation vehicle application.
- Nanjing base Hawkeye and NXP have recently agreed upon a strategic collaboration in 77GHz radar – a novel technology focused towards safer autonomous driving. The partnership is expected to allow NXP consolidate its position in China.