Industry Background:
The global auto sensors market is driven by increased demand for convenience, comfort, safety, efficiency and environmental protection. Over the past 30 years, the automotive industry has changed significantly. Mechanical systems remain to be controlled with electronic systems. The advancement of microcontroller and sensor technology is enabling the automobile industry to make complex systems which can provide higher levels of vehicle control and safety. Further, sensors integrated with automotive control computers help enhance vehicle performance while improving reliability and durability.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Billion) |
Key Companies Profiled | Robert Bosch GmbH (Germany), Continental AG (Germany), DENSO Corporation (Japan), Analog Devices, Inc. (United States), Aptiv PLC (Ireland), STMicroelectronics (Switzerland), ELMOS Semiconductor AG (Germany), Autoliv Inc (Sweden), NXP Semiconductors N.V. (Netherlands) and TE Connectivity Ltd. (Switzerland) |
According to AMA, the market for Auto Sensors is expected to register a CAGR of 7.5% during the forecast period to 2028. This growth is primarily driven by Rising Electrification in the Automotive Industry and Stringent Government Regulations Regarding Auto Parts.
Globally, a noticeable market trend is evident Developments in Sensor Types and Emerging Sensor Applications
The Semiconductors sector in the Europe region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Robert Bosch GmbH (Germany), Continental AG (Germany), DENSO Corporation (Japan), Analog Devices, Inc. (United States), Aptiv PLC (Ireland), STMicroelectronics (Switzerland), ELMOS Semiconductor AG (Germany), Autoliv Inc (Sweden), NXP Semiconductors N.V. (Netherlands) and TE Connectivity Ltd. (Switzerland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The leading players of auto sensors are focusing on strategic partnerships, acquisitions, and new product launch to improve their products and services. The companies are also focusing on increasing their consumer base to strengthen market position and to enhance product & service offerings.
Key Developments in the Market:
In September 2022, Bosch expanded its team of experts in the field of "System on Chip" (SoC). SoCs are specialized semiconductors increasingly used in control devices in the automotive industry. The technology group aims to strengthen its expertise in high-frequency processing SoC development through its planned acquisition of Semiconductor Ideas to the Market (ItoM), headquartered in Eindhoven, the Netherlands.
On June 5, 2019 - SMI (Silicon Microstructures, Inc.), a subsidiary of Elmos, releases the SM923X Series of ultra-low pressure sensor systems. With the SM923X Series SMI extends the limit of ultra-low gauge pressure sensing. and On, June 4, 2019 - TE Connectivity Ltd., a world leader in connectivity and sensor solutions, has established a TE Store for its European customers for the first time which means that a diverse range of more than 25,000 products is now also available to them online at any time.
Influencing Trend:
Developments in Sensor Types and Emerging Sensor Applications and Increasing Consumer Demand for Safety and Comfort
Market Growth Drivers:
Rising Electrification in the Automotive Industry and Stringent Government Regulations Regarding Auto Parts
Challenges:
Price Pressure for Sensor Manufacturers
Restraints:
A dearth of Uniform Fabrication Process for MEMS
Opportunities:
Rapid Development of Autonomous Cars across the World
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Auto Sensors Market
- Analysis about New Entrants in Auto Sensors Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Auto Sensors Study Sheds Light on
The Auto Sensors Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Auto Sensors industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Auto Sensors industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.