Automotive Intelligence Battery Sensor Market Scope
Automotive Intelligence Battery sensor is the battery with the sensor, nowadays battery is a major power source in electric vehicle and rising use of sensors and cameras for increasing the comfort of the user have been adding more value to the battery. An automotive intelligence battery sensors are used for battery management, power management, increasing battery safety, finding faults in the battery and others. The emergence of an electric vehicle is the key driver for the market as the electric vehicle runs using an electric motor powered by the battery. Also, increasing demand for fast charging and trend for connected vehicles have been supplementing overall growth of the market as the intelligence sensors enable fast charging. Additionally, high adoption of ADAS across globe and government regulations for increasing road safety have been growing the market.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia-Pacific |
Largest Market | Asia-Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | HELLA GmbH & Co. KGaA (Germany), Continental (Germany), Furukawa Electric Co. Ltd. (Japan), Robert Bosch GmbH (Germany), NXP Semiconductors (Netherlands), Texas Instrument Incorporated (United States), Denso Corporation (Japan), ams-OSRAM AG (Austria), Inomatic GmBH (Germany) and TE Connectivity (Switzerland) |
CAGR | 11.6% |
"According to AMA, the Global Automotive Intelligence Battery Sensor market is expected to see growth rate of 11.6% and may see market size of USD5.3 Billion by 2028."Global automotive intelligence battery sensor market possesses intense competitive rivalry. In addition to this, the switching and installation cost is maximum. The establishing key players have been investing more in research and development for innovation to create a new application for the market.The Players having a strong hold in the market are HELLA (Germany) Continental (Germany) Bosch (Germany) Furukawa Electric (Japan) NXP (Netherlands). Research Analyst at AMA estimates that Global Players will contribute to the maximum growth of Global Automotive Intelligence Battery Sensor market throughout the predicted period.
HELLA GmbH & Co. KGaA (Germany), Continental (Germany), Furukawa Electric Co. Ltd. (Japan), Robert Bosch GmbH (Germany), NXP Semiconductors (Netherlands), Texas Instrument Incorporated (United States), Denso Corporation (Japan), ams-OSRAM AG (Austria), Inomatic GmBH (Germany) and TE Connectivity (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are MTA SpA (Italy), Vishay Intertechnology (United States), Abertax Technologies Ltd (Malta), Autotec Components (United Kingdom) and LEM International SA (Switzerland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Automotive Intelligence Battery Sensor market by Type , by Application (Passenger Vehicle and Commercial Vehicle (Light Commercial Vehicle, Heavy Commercial Vehicle)) and Region with country level break-up. On the basis of Type, CAN are dominating the market and held 46.02% of market share in the year 2022 where as MCU stood as second largest market share and accounted for 30.19%.
On the basis of application, Passenger Vehicle segment is dominating the market and held 79.42% of market share in the year 2022 where as Commercial Vehicle segment stood as second largest market.
On the basis of geography, the market of Automotive Intelligence Battery Sensor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia-Pacific region held largest market share in the year 2022. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Asia-Pacific is projected to be the fastest-growing market, expanding at a CAGR of 12.01% from 2022 to 2028.
Market Leaders and their expansionary development strategies
In January 2021, Continental Battery received loan Assistance from the Acquisition of HIG. Ares Management provided debt financing for the transaction. Dallas-based Continental distributes aftermarket batteries to the electric utility vehicle, automotive, commercial, marine, and industrial markets.
In April 2019, ZF Friedrichshafen (German auto parts supplier) announced the launch of an advanced driver assistance system named a coPILOT system.
Directive 2006/66/EC of the European Parliament and of the Council prohibits the placing on the market of portable batteries and accumulators, including those incorporated into appliances that contain more than 0,002 % of cadmium by weight. However, portable batteries and accumulators intended for use in cordless power tools are exempted from that ban.
Influencing Trend:
High Adoption of ADAS across Globe and The Emergence of Autonomous and Connected Vehicles
Market Growth Drivers:
Increasing Demand for Hybrid Vehicle and Electric Vehicle across the Globe, The Emergence of an Electric Vehicle and Increasing Demand for Fast Charging and Trend for Connected Vehicles
Challenges:
Issue Related to Increasing Errors Due To Wrong Reading of Sensors as they are Improper Mounted and Increases Damage Risk for Most of the Electric Component Integrated With the Vehicle
Restraints:
The High Cost of the Electric Vehicle, Concern Related To the Malfunctioning Of the System and High Cost of Battery Sensors
Opportunities:
High Involvement in the R&D of Battery Sensors in both Developed and Developing Countries, Growing Government Regulations for Increasing Road Safety and The Emergence of Self-Driving Vehicles across Globe
Key Target Audience
Automotive OEMs, Companies operating in the automotive battery sensor ecosystem, Country-level governments and other policymakers, Country-level industry associations and experts, Distributors and suppliers of automotive battery sensor components, Hybrid vehicle manufacturers, Manufacturers of automotive battery sensor components, Manufacturers of automotive battery sensor, Raw material manufacturers and Raw material suppliers