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2020-2026 global automotive sensors market

2019-12-11 16:21:00

The global automotive sensors market size was at 347.6 million units in 2018 is projected to reach 536.4 million units by 2026, exhibiting a CAGR of 5.7% during the forecast period.

As per current automotive sensor market trends, governing bodies globally have imposed stringent regulations on automotive manufacturers to equip various sensors in vehicles owing to the rising number of road accidents, globally. In recent years, majority of cars are equipped with advanced sensors that are connected to the electronic control unit (ECU). ECU consist of software and hardware. Hardware contains a microcontroller chip as the vital component along with electronic components on the printed circuit board (PCB). Inputs that are received from the number of sensors and is processed by the microcontroller in real-time. The majority of vehicles have eliminated the use of pneumatic and mechanical controls and replaced them with electronic sensors that are easy to handle, light in weight, flexible and cheaper than pneumatic and mechanical controls. The electronic control unit has helped to curb emission, eliminate the use of wires, and make the diagnostic of vehicles much easier.

In recent years, vehicles are equipped with advanced sensors like temperature sensors, pressure sensors, speed sensors, inertia sensors, image sensors, and position sensors to make driving more efficient and safer. The temperature sensor monitors the temperature of the engine coolant and sends the temperature data to ECU in the form of electric current. The electronic control unit reacts to the change in temperature and adjusts the fuel injection inside the engine. Position sensors are anticipated to dominate the market and maintain its dominance over the forecast period. It helps to detect the exact location of the vehicle with the help of a global navigation satellite system. This is making very easy for organizations to manage their fleets. The image sensors market is anticipated to show lucrative growth owing to its property detect any obstacle at a long-range and read various road signs even at night and during low visibility. By vehicle type, automotive sensors are fragmented into passenger cars, LCV, and HCV. The passenger car segment is anticipated to dominate the market, owing to the rising demand for sensors that make driving more easy, efficient, and safe.

The increasing number of vehicles fortified with autonomous driving sensors will propel the growth of the market. The autonomous driving is achieved by the highly precise and efficient micro-controller sensors. Autonomous vehicles are capable of sensing their environment, and the safe movement is proficient with the help of the sensors. Autonomous vehicles are witnessing demand from consumers; with this, a requirement of integrations of large numbers of sensors, the market is expected to grow at an exponential CAGR over and beyond the forecast period. With the rising demand for autonomous driving is expected to drive the market over the forecast period.

By type, the automotive sensors market is segmented into temperature sensor, pressure sensor, speed sensor, inertia sensor, image sensor, and position sensor. The position sensor holds a large share of the market and will retain its position over the forecast period. The rising demand for the applications for position sensors such as clutch pedal position sensing, brake pedal position sensing, seat and headrest position, accelerator pedal position sensing, sunroof position, electric roof position, crash sensing, windscreen wiper position, gear shaft sensing, valve position sensing among others would propel the market growth over the forecast period.

Asia Pacific is expected to dominate the market over the forecast period owing to the rising production and sale of vehicles in this region. Stable economic condition and improving standard of living is the main reason for the sales of vehicle in this region. China is the major player and accounts for the largest share for the automotive sensors market in this region. Other countries like India, Japan, and South Korea have also experienced increase in the installation of automotive sensors. The rise in sensor installation is amid highly stringent safety regulations to install basic safety sensors like speed sensors, which give alert beyond 80kmph, seat belt reminder, parking sensors, and so on.