Million Insights Market Research Released A New Research Report On Global Automotive Sensor Market - Forecast Up To 2025. Report Provide Overview Of Top Key Players, Share Analysis, Size, Stake, Progress, Trends And Their Strategic Profiling In The Market, Comprehensively Analyzing Their Core Competencies, And Drawing A Competitive Landscape For The Market.
Pune, India: Oct. 28, 2019 - Automotive Sensor Market was anticipated at USD 18.68 billion in 2014. Approving initiatives of government for the security and safety of passenger are expected to propel the growth in the revenue. Automotive sensors help in the detection of parameters which include speed and heat and take preventive measure when in danger, thus it becomes an important part of automobiles. Owing to technological improvement vehicles are provided with various sensing devices which give information on numerous parameters thus confirming security, safety, and comfort.
Due to the increasing demand of consumers for comfort and fuel-efficiency as well as agreeable regulations of government on safety along with emission standards, there has been an increase in the number of devices used per vehicle.
The switch for self-driving cars could notably drive the market of automotive sensors as some devices are required to process intelligent data for making autonomous decisions. For instance, Google’s self-driving cars make use of quad-core PCs which process 1.3M laser measurements thus comes to the 20 driving decisions every second.
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The application segment comprises of safety and security, emission control and engine and drivetrain. Safety and security accounted for over 24% of overall revenue in 2014 and is anticipated to grow at a CAGR of 10.4% from 2015 to 2022. Sensing devices for security and safety applications evaluate tire inflation of occupant position along with the speed of the wheel.
For example, Jaguar F-type makes use of these sensors to monitor blind spot and closed vehicle sensing devised to make the driver alert regarding the existence of another vehicle in an near lane through a visual indicator that gives warning in the door’s mirror.
These applications are important for the growth of industry due to the rising adoption of features which includes anti-lock brake, rollover detection, electronic stability control and TPMS. Engine and drivetrain segment lead the global revenue share of USD 6.66 billion in 2014.
Due to the existence of major automobile manufacturers in the Asia Pacific region, particularly India and China, the automotive sensor market of Asia-Pacific was the largest regional segment and is anticipated to grow at a CAGR of 9.9% from 2015 to 2022.
It is followed by Europe which accounted for over 22% of the revenue share in 2014. North America also had a substantial share of revenue and is anticipated to grow at a CAGR of 8.6% from 2015 to 2022. The growth is owing to the pleasant legal situations particularly in U.S.
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Market Segment:
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
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