Automotive Sensors Market Outlook – 2022
According to a report published by Allied Market Research, titled, “Automotive Sensors Market by Type (Pressure, Temperature, Gas, MEMS and Motion), and Application (Powertrain, Body Electronics, Chassis, and Safety & security) – Global Opportunity Analysis and Industry Forecasts, 2014-2022”, the Global Automotive Sensors Market was valued at $22 billion in 2015, and is projected to reach $37 billion by 2022, growing at a CAGR of 7.5% from 2016 to 2022. MEMS sensor is expected to dominate the market from 2016 to 2022.
Increasing demand of different types of sensors, especially in autonomous cars, is expected to drive the automotive sensors market during the forecast period. Furthermore, advanced technologies such as advanced driver assistance systems (ADAS), lane departure warning (LDW) systems are likely to provide huge impetus to the market growth. Government authorities across the globe have imposed several regulations to avoid road accidents in a bid to improve the safety and security of the passengers, which would further supplement the growth of automotive sensor market.
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The powertrain segment accounted for about 53% of the overall automotive sensors market revenue in 2015. Increasing demand of powertrain market for automated transmission and high utility of lightweight materials for reducing fuel consumption are the key factors driving the usage of automotive sensors. In addition, body electronics is the fastest growing segment and is projected to register a CAGR 8% during the forecast period. This is due to the increasing use of temperature sensors in body electronics for internal and ambient temperature.
MEMS sensor segment is projected to maintain its lead in the overall automotive sensors market due to its increasing application in powertrain, safety & security, body electronics and among other.
The growing demand of automotive sensors in North America and Asia-pacific have further boosted the market growth. Furthermore, temperature sensor is anticipated to exhibit the fastest growth, with a CAGR of 8.2% during the forecast period. This is owed to the heightened demand of temperature sensors in semiconductors, food & beverage and plastic industries.
Europe accounted for the majority of revenue in 2015 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increasing demand of emission control sensors (ECS) with the emergence of strict regulations such as EURO VI, NSVI and BS VI. Furthermore, European government has also tightened the rules for safety, which is likely to fuel the market in years to come.
However, Asia-Pacific is expected to be the fastest growing region throughout the analysis period. Japan, being dominant in the Asia-Pacific especially in MEMS sensor market. This is a result of increasing spending in R&D. Also, improving automobile production and increasing expenditures in the emerging markets (such as India and China) to overcome the unmet consumer needs in these countries would bolster the market growth.
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Key Findings of Automotive Sensors Market:
- MEMS sensor would lead the overall automotive sensor market, accounting for over 40% of the automotive sensor market revenue throughout the analysis period.
- Powertrain is the predominant application segment and is expected to maintain its dominance throughout the forecast period as automotive sensors are increasingly being utilized in powertrains to reduce carbon emissions and enhance fuel efficiency.
- Asia Pacific is anticipated to register the fastest CAGR of 8% during the forecast period.
- Japan is the major shareholder accounting for about 27% share of the overall Asia-Pacific automotive sensors market.
The key players in the automotive sensor market are focused on expanding their business operations in the fast-growing emerging countries with new product launches as a preferred strategy. The major players profiled in this report include Robert Bosch GmbH, Denso Corporation, Continental AG Corporation, Sensata Technologies, Autoliv Inc., Infineon Technologies, Delphi Automotive LLP, Freescale Semiconductors, Analog Devices Inc. and Asahi Kasei Corporation.
CHAPTER 1 INTRODUCTION
CHAPTER 2 EXECUTIVE SUMMARY
CHAPTER 3 MARKET OVERVIEW
CHAPTER 4 WORLD AUTOMOTIVE SENSORS MARKET BY TYPE
CHAPTER 5 WORLD AUTOMOTIVE SENSORS MARKET BY APPLICATION
CHAPTER 6 WORLD AUTOMOTIOVE SENSORS MARKET BY GEOGRAPHY
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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