Automotive Sensors to Benefit from Increasing Electronic Content in Automobiles Supported by Connected, Smart & Autonomous Car Trends & Emerging Safety Standards

The global Automotive Sensors market is projected to reach US$27.6 billion by 2024, driven by increasing electronics content in automobiles supported by connected, smart and autonomous car trends as well regulatory mandates for safer vehicles that push up the importance of sensors and their performance in meeting emerging safety standards. Automotive industry has always been characterized by technology developments and innovations, which have been critical to the development and success of new vehicle models. Right from the use of microprocessors in car engines in the 1960s, and introduction of information-based capabilities in automobiles in the 1990s, to the concept of smart cars, which had taken the industry by storm in 2000s, the innovation streak continues to flare up a world of opportunities for the automotive sector. While the use of microprocessors in engines and drivetrains for improved braking, better stability, and driving comfort, announced the arrival of electronic technology into the automotive space, the grand entry of sensor capabilities opened up automobiles to world of semiconductors & electronics. Sensors are primary elements for most technology products built today. Application areas for sensors span simple switches and temperature sensing devices as a part of the most basic home appliances to sophisticated sensors in advanced manufacturing equipment and factory automation systems. Automotive industry in recent years has emerged into one of the most lucrative markets for sensors, worldwide.

Automotive sensors are installed in nearly all parts of the vehicle, including engines, brakes, chassis, transmission, clutch, safety and control. Applications for sensors in automobile sector include electronic and electrical systems for enhancing comfort and safety and engine performance. Consumer desire for comfort and luxury in their cars, particularly with regard to air-conditioning climate control systems for humidity and temperature control has been major driver for automotive sensors. Further, stringent emission legislations are also stimulating demand for automotive sensors, such as those used in controlling emissions, as well as sensors used in safety applications such as Anti-Lock Braking Systems or ABS, Electronic Stability Control, and Advanced Driver Assistance Systems or ADAS. Tire Pressure Monitoring Systems or TPMS have also been attracting increasing interest from regulators across the world. Driven by regulations as well as OEMs’ desire to differentiate their products, safety features such as ABS, and Electronic Stability Control, Air Bags, and TPMS are being widely installed in automotives across the globe, and have become default features in some markets. ADAS holds promise for large opportunities for vendors as the solution includes various safety features such as forward collision warning, blind spot detection, adaptive cruise control, parking assistance, and lane departure warning systems. Presently confined to premium vehicles, these features are slowly, but surely diffusing into mass market vehicles, both as part of manufacturers’ efforts to differentiate as well as part of meeting regulatory directives.

As stated by the new market research report on Automotive Sensors, Europe represents the largest regional market worldwide, followed closely by the Asia-Pacific region. Latin America, driven by the resurgence of the automotive market in key regions such as Brazil, is forecast to emerge as the fastest growing market with a CAGR of 7.4% over the analysis period. India, with a rapidly growing automotive market, provides the highest growth opportunities. China, the largest automotive market in the world, is being hampered by the slowdown in the market, but still holds large heft owing to the sheer size of the automotive production. Engine & Transmission applications represent the largest market, while Safety & Security applications are projected to offer the fastest growth opportunities for Automotive Sensors. Body applications are also projected to provide above average growth opportunities.

Major players in the market include Allegro MicroSystems LLC, Analog Devices, Inc., Bourns, Inc., CASCO, Continental AG, CTS Corporation, Delphi Technologies, Denso Corporation, Hella KGaA Hueck & Co., Hitachi Automotive Systems, Ltd., Infineon Technologies AG , Kistler Group, Melexis NV, Micralyne, Inc., NGK Spark Plugs (U.S.A.), Inc., Novotechnik U.S., Inc., NXP Semiconductors N.V., Omron Corporation, OSRAM Opto Semiconductors GmbH, Robert Bosch GmbH, Sensata Technologies, SSI Technologies, Inc., TDK-Micronas GmbH, TT Electronics Plc, Valeo S.A., and ZF Friedrichshafen AG among others.

The research report titled "Automotive Sensors Equipment – Market Analysis, Trends, and Forecasts" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, innovations and launches, and strategic industry activities of various players. The report provides market estimates and projections in in US$ Million for Automotive Sensors for major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East & Africa, Latin  America (Brazil, and Rest of Latin  America). Major end-use applications analyzed in the report include Engine & Transmission, Chassis, Safety & Security, and Body.

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