The global automotive sensor market is expected to grow at a CAGR of 7.0% during the forecast period with its market size predicted to reach USD 42.0 billion by 2024. There is a constant increase in the number of sensors integration in vehicle to improve its performance. Due to which, there is a rise in the number of partnerships and collaborations among the automotive OEMs and sensor manufacturers is one of the major trends prevailing in the automotive sensor market currently.
Passenger car category held the largest share in the automotive sensor market in 2018
On the basis of vehicle type, the market is bifurcated into fuel-based vehicles and electric vehicle. The fuel based vehicle is further broken down into passenger car, light commercial vehicle (LCV) and medium & heavy commercial vehicle (MHCV). Passenger car is expected to account the highest market share in current year and is expected to grow at fastest rate with adoption of ADAS, electric and hybrid cars.
Geographically, APAC, mainly China is the largest automotive sensor market with largest number of electric vehicle production. Besides, the country is home for some of the major automotive manufacturers, this will further up surge the growth of the China automotive sensor market in years to come.
Some of the key players operating in the global automotive sensor market are Analog Devices, Inc., Continental AG, Delphi Technologies, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, APTIV, Melexis, Sensata PLC, and CTS Corporation.
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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million) and volume (Million Units). The report segments the global automotive sensor market on the basis of sensor types, sales channel, application, vehicle type and region.
Global Automotive Sensor Market Coverage
Sales Channel Insight and Forecast 2014-2024
Sensor Type Insight and Forecast 2014-2024
Application Insight and Forecast 2014-2024
Vehicle Type Insight and Forecast 2014-2024
Automotive Sensor Market by Region
Rest of the World (RoW)