Automotive Sensors Market — Global Industry Analysis, Growth, Trends and Forecas

Posted by RASHMI on July 2nd, 2019

The global automotive sensor market is growing at a high rate due to strict regulations mandating the integration of technologies and devices to ensure the safety of the driver and passengers while driving. The use of automotive monitors helps in controlling and monitoring physical processes in the changes in automobiles. The increasing demand for automotive sensors is attributed to the changing mindset of the people towards safe driving. Moreover, the high demand for hybrid cars has also fueled the need for automotive sensors, as hybrid cars require more sensors for monitoring, hydrogen leak detection, and motor speed, position, and temperature control.

Increasing Application of MEMS to boost Demand for Automotive Sensors  

The global automotive sensor market is categorized on the basis of type and component. Based on type, the market is segmented into pressure sensor, temperature sendsor, motion sensor, gas sensor, micro-electro-mechanical-systems (MEMS) sensor. Out of these, MEMS sensor had a dominant share as compared to the other segments under this category in 2014. In addition, rising application of MEMS sensor in accelerometer, vehicle dynamics control, inertial brake lights, headlight leveling, automatic door locks, and active suspension systems amongst others, are factors responsible for the major contribution of this segment.

On the basis of component, the global market for automotive sensors is segmented into powertrain, chassis, body electronics, and safety and control.

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Presence of High Number of Manufacturers enable Europe to Lead Global Market

On the basis of geography, the report has covered the regions including North America, Asia Pacific, Europe, the Middle East and Africa, and South America. As of 2014, Europe held a dominant share in the global automotive sensor market. According to TMR, the Europe market is projected to rise at 8.3% CAGR between 2015 and 2021. Recent technological advancements are fuelling the demand for automotive sensors in this region. Moreover, the presence of key automobile manufacturers and consumers in countries like Germany and the U.K. has contributed in making Europe the lead the market.