Factors Shaping Global Automotive Sensors Market
Spotlight on Driver Safety to Boost Demand for Automotive Sensors
Regions such as Western Europe and North America, are developed, with abundant demand for automobiles. Governments and ruling authorities in these regions have imposed stringent regulations to ensure driver safety in automobile. If any irregularities are found, the manufacturer is charged with heavy penalties. That apart, causalities also create a bad image of the company among consumers in the market.
The world is moving towards easy-to-control and safer technologies, which is why, consumers are inclining towards automation provided by advanced sensors. Increasing demand for safety sensors, such as seat belt tension, impact sensors, anti-theft, parking sensors, etc., is expected to create significant opportunities for manufacturers, contributing significantly to the growth of the automotive sensors market.
Growing ADAS Deployment in Commercial Vehicles
The growing mining and construction sector across the globe has augmented the demand for heavy commercial vehicles. Truck fleet owners and operators are investing in performance upgrades to improve fuel efficiency and driving comfort.
ADAS such as adaptive cruise control system (ACCS), autonomous emergency braking system (AEBS), and lane keeping assist (LKA) are improving the business case for commercial vehicles. Truck platooning is anticipated to be one of the next technologies to commercialize in this space. For truck platooning, automated driving support and connectivity technology will be required. This, in turn, will increase ADAS penetration in trucks.
ADAS technology has been implemented in existing as well as upcoming models of urban buses and coaches, in particular. ADAS such as blind spot detection (BSD), forward collision warning (FCW), and autonomous emergency braking (AEB) alert the driver of the presence of pedestrian, vehicle, or cyclist is alongside them. Installation of such features in buses and coaches will significantly fuel the demand for ADAS sensors. Commercial vehicle sales will have a positive impact in the growth of automotive sensors market during the forecast period.
Automotive Sensors Market Structure Analysis
- The market contribution by tier-1 companies in developed regions such as North America, Western Europe, and Japan is higher as compared to that of tier-1 companies in developing regions such as China, India, and Eastern Europe. At a global perspective, tier-1 players amount for more than one half of the overall market share.
- Reduction in prices, wider product portfolios, and long-term supply relations with key automotive manufacturers catering all major types of vehicles are strategies of major players to enhance customer base and market share.
- Aggressive marketing in key countries of Latin America and the Middle East & Africa region could further benefit players in the automotive sensors market.
- Continental AG, Robert Bosch GmbH, Denso Corporation, and TE Connectivity are identified as some of the key participants in the global automotive sensors market.
FREQUENTLY ASKED QUESTIONS ABOUT AUTOMOTIVE SENSORS MARKET
How is the automotive sensors market expected to grow in the forecast period?
The global automotive sensors market is expected to witness healthy growth during the forecast period, primarily driven by implementation of advanced technologies and innovations in vehicle. Stringent fuel efficiency and emission norms, along with increasing concerns towards safety, are anticipated to fuel the growth of the automotive sensors market. Moreover, increasing focus of several automakers on comfort driving is expected to play a vital role in the growth of the automotive sensors market.
Which countries are anticipated to register growth?
Owing to stringent norms against fuel emission and occupants’ safety in developed nations, number of sensors used per vehicle is high. In terms of growth rate, India is the fastest growing country across the globe. However, when it comes to market share, the country still lags behind. Countries such as Iran, Turkey, Brazil, and Russia are growing at a significant rate in terms of vehicle production and adoption rate of sensors.
Which application area holds potential growth opportunities for automotive sensors market players?
The demand for safety sensors will be on a higher level as compared to other segments, as the installation rate of these sensors will be maximum in a short amount of time to comply with the ever-changing regulations.
What is the degree of competition in the automotive sensors market?
NXP Semiconductors N.V., TE Connectivity, Continental AG, and Robert Bosch GmbH to dominate the market, accounting for nearly one fourth of the total market share.
Automotive Sensors Market: Segmentation
The global automotive sensors market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
Sensor Type
- Position Sensors
- Clutch Position Sensors
- Gear Position Sensors
- Throttle Position Sensors
- Crankshaft Position Sensors
- Steering Angle Position Sensors
- Camshaft Position Sensors
- Safety Sensors
- Seat Belt Sensors
- Brake Switch Sensors
- Door Switch Sensors
- ADAS Sensors
- Blind Spot Detection
- Night Vision Sensors
- Light Sensors
- Parking Sensors
- Cruise Control
- Impact Sensors
- Anti-theft Sensors
- Knock Detection Sensors
- Level Sensors
- Fuel Level Sensors
- Coolant Level Sensors
- Oil Level Sensors
- Oxygen Sensors
- Pressure Sensors
- Tire Pressure Sensors
- EGR Pressure Sensors
- Airflow Rate Sensors
- Temperature Sensors
- Engine Coolant Temperature Sensors
- Rain/humidity Sensors
- Oil/Fuel Temperature Sensors
- Battery Temperature Sensors
- Air Temperature Sensors
- Speed Sensors
- Wheel Speed Sensors
- Speedometer
Vehicle Type
- Passenger Cars
- Compact
- Midsize
- Luxury
- SUVs
- LCVs
- HCVs
Sales Channel
- OEMs
- OES
- IAM
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- South East Asia & Pacific
- Middle East & Africa
- Japan
- China
- India
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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