Automotive Sensors Market to Hit US$ 46.4 Billion by 2028, with a CAGR of 12.10% – Exclusive Report by IMARC Group

The report has segmented the automotive sensors market on the basis of type, vehicle type, application, sales channel and region.

According to IMARC Group’s latest report, titled “Automotive Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The global automotive sensors market size reached US$ 23.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 46.4 Billion by 2028, exhibiting a growth rate (CAGR) of 12.10% during 2023-2028.

Automobile sensors are smart sensors specifically designed to monitor and process various aspects of a vehicle's performance. They are responsible for measuring critical parameters, such as temperature, gas levels, pressure, speed, and magnetic fields. These sensors collect and transmit essential information to a computer for monitoring the vehicle's engine and emission systems. One of the primary functions of automotive sensors includes calculating the air density in the engine to monitor the rotating speed of the crankshaft and control fuel injection and engine timing. Additionally, these sensors are used to control various functions of the vehicle, such as the early fuel evaporation (EFE) system, the spark timing, canister purging, and the flow of exhaust gas recirculation (EGR). 

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Automotive Sensors Market Trends:

The global automotive sensors market is experiencing significant growth due to several factors, including the rising demand for enhanced comfort, safety, and security features in vehicles. This is further driven by increasing consumer expectations for greater convenience and fuel efficiency, as well as the rapid expansion of the automotive industry. Additionally, the integration of automotive sensors into self-driving cars and the growing popularity of advanced driver assistance systems (ADAS), such as lane departure warnings, adaptive cruise control, and automated parking, are contributing to the market growth. Furthermore, the increasing use of automotive sensors for blind-spot monitoring and close vehicle sensing, combined with the inflating purchasing power of consumers, is providing a substantial boost to the market growth.

Automotive Sensors Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the automotive sensors market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Allegro MicroSystems Inc. (Sanken Electric Co. Ltd.)
• Analog Devices Inc.
• BorgWarner Inc.
• Continental AG
• CTS Corporation
• DENSO Corporation
• Hitachi Ltd.
• Infineon Technologies AG
• Littelfuse Inc.
• NXP Semiconductors N.V.
• Robert Bosch GmbH
• Sensata Technologies Inc.
• TE Connectivity

 

Key Market Segmentation: 

The report has segmented the market into the following categories:

Breakup by Type:

• Level/Position Sensors
• Temperature Sensors
• Pressure Sensors
• Speed Sensors
• Gas Sensors
• Magnetic Sensors
• Others

 

Breakup by Vehicle Type:

• Passenger Cars
• Commercial Vehicles

 

Breakup by Application:

• Powertrain
• Chassis
• Vehicle Body Electronics
• Safety and Security
• Telematics
• Others

 

Breakup by Sales Channel:

• Original Equipment Manufacturer (OEM)
• Aftermarket

 

Breakup by Region:

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

 

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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

 

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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