San Francisco, Oct 29 The
global automotive
sensor market size is expected to reach USD 36.76 billion by 2022,
according to a new study by Grand View Research, Inc. Favorable government
regulations for increasing overall passenger security and safety is expected to
augment market demand over the forecast period. These products have become an
important part of automobiles, and detect physical parameters such as speed and
heat and take preventive measures in case of any danger.
Growing
consumer adoption of electric, hybrid and hydrogen fuel-cell-powered motor
vehicles is expected to drive demand for battery monitoring. Image sensor-based
ADAS systems have become essential for tracking and identifying potential
hazards. Additionally, rising number of autonomous vehicles in yielding lower
fuel consumption and reduced traffic congestion features in developing
countries such as Japan and China is expected to favorably impact the
automotive sensor market. Demand for retrofitting of advanced systems into the
existing motor vehicle fleet is also expected to augment demand.
Browse full research report on Automotive Sensor Market:
www.grandviewresearch.com/industry-analysis/automotive-sensors-market
Further key findings from the study suggest:
- Advanced
proximity and positioning sensors help remotely determine the location of
an object, and this segment is expected to grow at a CAGR of over 11.0%
from 2015 to 2022. These products include radar, infrared, ultrasonic, and
laser devices, and are finding application in detection of objects around
vehicles in addition to occupancy sensing.
- Sensors used
for safety and security applications monitor wheel speed, occupant
position tire inflation, etc. For instance, Jaguar F-type uses these
products for blind spot monitoring and close vehicle sensing designed to
alert the driver about the presence of another vehicle in an adjacent lane
by providing a visual warning indicator in the door’s mirror.
- Asia Pacific
is expected to remain the leading regional market through the forecast
period. The North American automotive sensor market is characterized by
the presence of a stringent regulatory landscape. The U.S. NHTSA is
attempting to control driver support technologies and direction of
automotive collision avoidance. The government is expected to mandate
fitment of V2V safety technology in future cars. In addition, the U.S.
Association of Automobile Manufacturers (AMM) is expected to leverage
rear-view camera and removing side-view mirrors, which can reduce noise
and fuel consumption. Outsourcing of manufacturing process to low-cost
countries like Mexico, China, Bulgaria, Malaysia, India or the Dominican
Republic due to high labor costs in the U.S. is a key industry trend.
- Major
industry participants such as Bosch focus on research and development to
ensure product differentiation. The company’s R&D efforts have focused
on development of efficient methods for ensuring reliability, precise 3D
environment recognition, and securing the electronics architecture through
constant plausibility checks on the data supplied. Other key players such
as Freescale, Sensata, and Denso Corporation provide products that cater
to a wide range of applications, such as ADAS, body electronics, chassis
and safety, etc.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/sensors-and-controls
Grand
View Research has segmented the automotive sensor market on the basis of
product, application and region:
Automotive
Sensor Product Outlook (Revenue, USD Million, 2012 - 2022)
- Physical
Property
- Process Variable
- Proximity
& Positioning
- Chemical
Property
- Others
Automotive
Sensor Application Outlook (Revenue, USD Million, 2012 - 2022)
- Engine &
Drivetrain
- Safety &
Security
- Emission
Control
- Others
Automotive
sensor Regional Outlook (Revenue, USD Million, 2012 - 2022)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-automotive-sensors-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information:
www.grandviewresearch.com
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