Automotive Sensors Market to Touch USD 35 Billion at 7% CAGR by 2023| Top Key Players, Applications, Business Statistics, Trends and Forecast 2017-2023
Market Analysis
The global automotive
sensors market size will touch USD 35 billion at a 7% CAGR between the forecast
period 2017- 2023, according to the new Market Research Future (MRFR) analysis.
Automotive sensors will help to detect, transmit, and measure information that
helps to analyze the performance of cars. The sensor technology helps in
detecting events or amends in the environment and then offers a corresponding
output.
Various factors are
fuelling the global automotive sensors market share. According to the recent
MRFR market estimates, such factors include increased motor vehicle production
worldwide, demand for automotive sensor technology, demand for vehicle
electrification, strict government regulations associated with emissions, and a
rise in consumer demand for comfort and safety in cars. Other market drivers
include increasing use of pressure sensors, an increase in demand for automotive
sensors in electric and hybrid cars, demand for customized electronic devices,
and demand for autonomous cars.
On the contrary, the
high development cost of automotive sensors, and the impact of the COVID-19
outbreak may deter the global automotive sensors market growth over the
forecast period.
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Market
Segmentation
The MRFR report
highlights an inclusive segmental analysis of the global automotive sensors
market based on sensor type, technology, and vehicle type.
By sensor type, the
global automotive sensors market is segmented into image sensors, inertial
sensors, NOx sensors, O2 sensors, position sensors, speed sensors, temperature
sensors, pressure sensors, and others. Of these, the position sensors will lead
the market over the forecast period.
By technology, the
global automotive sensors market is segmented into nano-electro-mechanical
systems (NEMS), and micro-electro-mechanical systems (MEMS).
By vehicle type, the
global automotive sensors market is segmented into electrical vehicles, heavy
vehicle, high end, medium end, low end, and others.
Regional Analysis
By region, the global
automotive sensors market covers the growth opportunity and recent trends
across Europe, North America, the Asia Pacific (APAC), and the Rest of the
World (RoW). Of these, the APAC region is predicted to spearhead the market
over the forecast period. The increasing purchasing power of consumers, growing
population, increasing per capita income of the middle-class people, cost advantages of OEMs, production of cost-effective and
compact cars, presence of fast-developing economies like India and China, low
automobile production costs, demand for
autonomous vehicles,
easy accessibility of economical labor, safety norms and lenient emission,
government initiatives to support FDIs, increase in automobile production, and
growing inclination of consumers towards luxury, safety, and comfort are adding
to the global automotive sensors market growth in the region.
In North America, the
automotive sensors market is predicted to have healthy growth over the forecast
period. Infrastructure development, early adoption of advanced driving
assistance features, and increasing sales of electric vehicles are adding to
the global automotive sensors market growth in the region.
The automotive sensors
market in Europe is predicted to have sound growth over the forecast period.
Growing demand for safer and more efficient cars, safety and fuel efficiency
norms, and safety regulations for commercial vehicles are adding to the global
automotive sensors market growth in the region.
The automotive sensors
market in the Rest of the World is predicted to have steady growth over the
forecast period.
Key Players
Key contenders profiled
in the global automotive sensors market report include Vishay Intertechnology,
Inc. (U.S.), TRW Automotive Inc. (U.S.), Sensata Technologies (U.S.), Panasonic
Corporation (Japan), Micronas Semiconductor Inc. (Switzerland), Continental AG
(Germany), Infineon Technologies AG (Germany), STMicroelectronics
(Switzerland), GE Measurement & Control Solutions (U.S.), Denso Corporation
(Japan), Delphi Automotive LLP (U.K), Bourns Inc. (U.S.), Bosch Sensortech GmBH
(Germany), Broadcom Limited (U.S.), and Analog Devices Inc. (U.S.).
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Key Questions
Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/
Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this market?
- What are the strategies adopted by
key players?
TABLE OF
CONTENTS
1 EXECUTIVE
SUMMARY
2 SCOPE OF
THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET
LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN
ANALYSIS
4 MARKET
DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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