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Automotive Sensors Global Market Report 2022
Major players in the automotive sensors market are Robert Bosch GmbH, Continental AG, DENSO Corporation, Infineon Technologies AG, Sensata Technologies, Allegro Microsystems Inc, Analog Devices Inc, ELMOS Semiconductor SE, Aptiv plc, NXP Semiconductors N.
New York, July 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Automotive Sensors Global Market Report 2022" - https://www.reportlinker.com/p06284095/?utm_source=GNW
V., STMicroelectronics N.V., CTS Corporation, Texas Instruments Incorporated, TE Connectivity Ltd, ZF Friedrichshafen, Magna International, Melexis N.V., ON Semiconductor, Amphenol Advanced Sensors, Velodyne LiDAR, Quanergy, Innoviz Technologies, Broadcom Limited, Bosch Sensortec GmBH, Bourns Inc, Delphi Automotive LLP, GE Measurement & Control Solutions, and Vishay Intertechnology Inc.
The global automotive sensors market is expected to grow from $21.54 billion in 2021 to $24.42 billion in 2022 at a compound annual growth rate (CAGR) of 13.37%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $39.35 billion in 2026 at a CAGR of 12.67%.
The automotive sensors market consists of sales of automotive sensor solutions by entities (organizations, sole traders, and partnerships) that are used to detect, transmit, analyse, record, and display information about the vehicle’s internal and external surroundings.Automotive sensors are intelligent sensors that monitor the vehicle condition and provide information to the user or automatically make the required changes to the vehicle.
Automotive sensors check incoming air temperature, fuel-air mixture, manifold pressure, wheel speed, and others.
The main types of automotive sensors are temperature sensors, pressure sensors, speed sensors, level/position sensors, magnetic sensors, gas sensors, and inertial sensors.Temperature sensors measures the temperature of the air outside the automobile.
It usually consists of thermocouples, thermistors, or resistance.Automotive sensors are based on different types of technology such as nano-electro mechanical systems and micro-electro mechanical systems.
Automotive sensors are used in various vehicle types that include passenger cars, light commercial vehicles, heavy commercial vehicle. These automotive sensors are used on powertrain, chassis, exhaust, ADAS. and other applications.
Asia Pacific was the largest region in the automotive sensors market in 2021 and is also expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising adoption of autonomous vehicles is expected to propel the growth of the automotive sensors market.Autonomous vehicles are driverless vehicles that operate and perform necessary functions on their own without any human intervention.
The use of automotive sensors in autonomous vehicles has reduced the drivers’ stress and increased the productivity of the vehicle. For instance, the global autonomous cars market is projected to grow from $1.64 billion in 2021 to $11.03 billion in 2028 at a CAGR of 31.3% due to the increased demand. Hence, the rising adoption of autonomous vehicles plays an important role in the growth of the automotive sensors market.
The rise in the use of pressure sensors in the automotive industry is a key trend gaining popularity in the automotive sensor market.Pressure sensors are used for discovering the early faults in hydraulic brakes, optimizing the fuel mix to match the air pressure, automatic cleaning of exhaust filters, tracking exhaust recirculation, critical fluid examinations, finding vapor leakages, triggering airbags faster, and launching pedestrian airbags.
For example, in 2020 September, Sensata Technologies, Inc. an industrial technology company and a leading provider of sensors launched the new PTE7100 and PTE7300 hermetic pressure sensors for industrial applications. The sensor is built using automotive leading micro silicon strain gauge technology. The sensor has several unique features, including high accuracy, burst strength, and shock performace making it a robust solution for customers with challenging measurement requirements.
In April 2020, Infineon Technologies AG, a semiconductor manufacturer in Germany, acquired Cypress Semiconductor Corporation for $10 billion.The acquisition is expected to enrich Infineon’s position as a leader in system solutions for the IoT, automotive, and industrial markets.
Cypress Semiconductor Corporation is an American manufacturer of sensors and semiconductors.
The countries covered in the Automotive Sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284095/?utm_source=GNW
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