Automotive Sensors Market Growth and Analysis- Industry Trends, Size, Shares, Forecast to 2023

The report on Automotive Sensors Market sheds light on the important developments impacting and increasing the growth of the Automotive Sensors market including its restraints, drivers and prospects. The Automotive Sensors market report proposes complete synopsis of the market, covering several characteristics such as product definition, market breakdown based on several constraints, supply chain analysis, and the fundamental Key Players outlook.

The report on Automotive Sensors Market will help Major Players and the new entrants to understand and scrutinize the market in detail. This information will encourage the Major Players to decide their business strategy and achieve proposed business aims.

Description:

The global automotive sensors market is expected to register a CAGR of around 8% during the forecast period of 2018–2023. The major trend driving the global automotive sensors market are miniaturization and improved communication capabilities, which enable their integration into vehicles, without interfering with the basic functionalities of the vehicle. The increasing demand for safety and security in automobiles is the main factor that plays a vital role for the growth of the market.

Government Initiatives for Safer Roads

According to the World Health Organization, more than 1.25 million people are killed in road accidents every year and about 50 million people get injured. For instance, major automakers have agreed to install automatic emergency braking systems in nearly all vehicles in the United States, by September 2022. Similarly, the EU Commission is considering introducing automatic braking system and making it mandatory for cars. As a result, the demand for automotive sensors is expected to increase.

Connected Vehicles and Advancements in Other Vehicular Technologies

Automated and connected vehicle technologies are among the most highly researched automotive technologies. Connected car devices essentially assist in monitoring vehicles and drivers. The devices also keep private automobile owners, as well as fleet managers updated about their vehicle’s performance on the fuel economy index, emissions, on-board diagnostics (OBD), vehicle maintenance, and recalls. Some devices also provide GPS tracking and real-time alerts. Connected vehicles could dramatically reduce the number of fatalities and serious injuries caused by accidents on roads and highways. The US Department of Transportations (USDOT’s) Connected Vehicle program is working with state and local transportation agencies, vehicle and device makers, and the public, to test and evaluate technology that will enable cars, buses, trucks, trains, roads and other infrastructure, and smartphones and other devices, to communicate with one another. Other significant factors driving the market are – increasing vehicle production worldwide, stringent government regulations with respect to economy and emissions norms, increasing vehicle electrification, and growing demand for sensors, owing to convenience and comfort. The continuous innovations and investments in research and development, to meet the changing consumer preferences, have led to improved fabrication techniques and enhanced sensing abilities at lower costs, thereby driving market growth. The two significant trends for vehicles are – electrification and automation. There is a rapid integration of high-value sensing modules, such as RADAR, imaging, and LIDAR, in automotive systems. The advent of electrical vehicles is expected to significantly change the amount and the distribution of pressure and magnetic sensors within the car, over the long term. More electric cars implies fewer pressure sensors and a surge in magnetic sensors for battery monitoring and various positioning and detection of moving pieces.

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Automotive Sensors market report provides the comprehensive analysis of the market, based on leading players of present, past of Automotive Sensors Industry and resourceful data that will act as a supportive guide for leading players.

Major Key Players of Automotive Sensors Market Report: Denso Corporation, Infineon Technologies, Robert Bosch GmbH, Texas Instruments Inc., Sensata Technologies B.V., Aptiv Plc, CTS Corporation, Maxim Integrated, NXP Semiconductors N.V., Analog Devices Inc., Continental Automotive AG, Littlefuse Inc., HITACHI Automotive Systems Americas.

Key Issues Addressed in this Report:

• Competitive Landscape and Strategic Recommendations
• The market forecast and growth areas for Automotive Sensors Market
• Evolving market trends and dynamics
• Changing supply and demand scenarios
• Changing Market Trends and Emerging Opportunities
• Historical shipment and revenue
• Analysis key applications
• Main Players market share

Reasons to Purchase the Report