Global Automotive Sensors Market - Analysis and Forecast:

The dynamic evolution of the automobile industry is attributed primarily to changing consumer preferences, growing focus towards driver safety, environmental concerns, and stringent government regulations focusing towards crash avoidance rather than crash survival. Sensors play a crucial role in automotive industry as they enhance vehicle performance by ensuring vehicle safety and improving fuel efficiency. Automotive sensors have undergone rapid technological advancements in communication capabilities, electronic control systems, and size. Easy to use micro-controller platforms, continuous product development, lower cost, newer application, and above-mentioned technological advancements have widened the applications of automotive sensors. Functions of sensors have remained same, however, sensors have largely evolved in terms of compactness, packaging, design, integration and in terms of requirement of hardware support. Rapid advancements in the automotive sensors industry have laid path for several new sensors in the market such as LiDARs, radars, cameras, and ultrasonic sensors, among others. MEMS based sensors are relatively new to the market and offer wide range of advantages over the conventional sensors, therefore, pushing the market to new heights.

The report defines and estimates the market size and future growth potential of automotive sensors market. The global automotive sensors market is estimated to reach $25.56 billion by 2021. The market is driven by a number of factors such as the rising demand of luxury and mid-size cars, increasing safety concerns, stringent governmental regulations, rising collaborations between key market players and increasing number of OEMs. In addition to this, increased market penetration of MEMS technology and safety sensors is expected to be a key factor in the growth of the automotive sensors market.

Figure 1
Global Automotive Sensor Market Snapshot

Source: Secondary Research, Expert interviews, and BIS Research Analysis

The automotive sensor market has grown organically and is on a transitional shift from traditional sensor technology to MEMS technology. The pressure sensors after others held the highest share by value in 2016 and is expected to continue its dominance in the forecast period. Factors such as miniaturization, growing demand for MEMS pressure sensor, and wide application properties have carved such a giant share for pressure sensor in the automotive sensor market.

Powertrain application dominated the automotive sensor market by value and volume in 2016. Stringent government regulations over vehicle fuel efficiency and development of the automated engine management system to increase vehicle efficiency contributed to the market size of powertrain sensors. Sensors for safety application by value and volume is expected to grow at the fastest rate among all other applications from 2017 to 2021. Factors such as growing demand of safety system in luxury, mid-range and commercial vehicles along with stringent government regulations with regard to safety of vehicles is expected to boost the automotive safety sensor market in the forecast period.

Conventional fuel vehicles contributed maximum to the automotive sensors market by volume as well as revenue. However, electric vehicle sensor market is expected to grow at the fastest rate during the forecast period. Factors such as growing concerns about environmental protection, increasing sales of EVs, and governmental initiatives have propelled the market to grow at a dynamic pace.

This report also covers the global automotive sensors market, by geography and consequently provides the revenue of the key regions which include North America, Europe, Asia-Pacific (APAC), Middle East & Africa, and South America. APAC dominated the global automotive sensors market by volume and value in 2016. Factors such as the growing automotive industry, rising disposable income, and increasing manufacturing facilities have contributing to the market size in the APAC region. Europe is expected to grow at a faster rate in comparison to other regions between 2017 and 2021. Factors such as increased demand for electric and luxury vehicles, high presence of sensor manufacturers, and stringent government regulations with regard to installation of Advanced Driver Assistance Systems (ADAS) will drive the market growth in Europe.

Some of the key players in the automotive sensors market are Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive PLC (U.K), Denso Corporation (Japan), Infineon Technologies AG (Germany), Sensata Technologies, Inc. (U.S), and Analog Devices, Inc. (U.S). These companies are aiming for an increased number of product launches and collaborations to expand their operations and prevent new companies from becoming potential future competitors.

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