Automotive Sensor Market: What Makes this Industry Reach the Mark of .62 Bn

Posted by BIS RSRCH on March 24th, 2020

The automotive industry has expanded globally over the last century, primarily owing to changing consumer preferences, rising concerns with regard to driver safety, environmental concerns, and stringent government regulations focusing on crash avoidance rather than crash survival. The constant demand to meet efficiency and security standards are effectively driving the need for deploying sensors. The rising demand in the automotive industry for highly reliable and cost-efficient sensors are resulting in the mass production of these sensors. 

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The sensors play a vital role in the automotive industry, skillfully monitoring various and electromechanical applications by gathering varied forms of data such as temperature, pressure, position, speed, flow, level, torque, and oxygen levels, among others, of different vehicle applications such as powertrain, chassis, body, safety, and exhaust among others. Over the decade, the vehicle electronics system has evolved extensively, which has led to several technological advancements such as microcontroller-based platforms, continuous product development, and evolving applications that are aiding in widening the scope of automotive sensors.

An increase in luxury offerings for automotive vehicles leading to a shift in the focus of consumer preferences from sedan to SUVs and rising disposable incomes of individuals have been boosting the demand for luxury cars around the world. Luxury cars are providing a high level of comfort and incorporating safety features, which is leading to the emergence of various opportunities for the market. Moreover, the rising trend of electric luxury vehicles across the regions is leading to a growth in the overall demand for luxury cars in the market. The leading luxury car manufacturers launching electric versions of their vehicles due to rising environmental concerns and increasing fuel prices are also likely to accelerate further the growth of the luxury car market over the forecast period.

Manufacturers of high-end vehicles such as BMW 7 series, Audi 8, and Mercedes Benz E-class are ensuring the installation of more than 100 individual sensors. The sensors usually work in cohesion with microcontrollers and embedded systems present inside the engine control unit (ECU).  The modern luxury cars have a higher number of ECUs integrated into them as compared to conventional vehicles, further leading to an increase in the concentration of sensors in luxury vehicles.

Electric vehicles (EVs) are automobiles that derive power from unconventional power sources, which is further transformed into useful operation by the electric motor, with minimal or no requirement for any additional fuel. The idea of substituting fuel as the source of propulsion was conceived as early as the 19th century and has been used for mass commercialization over the last few decades. At present, EVs are experiencing a drastic change from an experimental model of vehicle to gradually moving toward becoming a necessity, with automotive manufacturers worldwide engaging in fruitful efforts to make EVs available in all the economic ranges.

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The rising adoption of electric vehicles is expected to positively impact the automotive sensor market as the electrification of vehicles is incorporating a greater number of sensors. In EVs, all subsystems require sensors for the accurate measurement of features such as voltage, current, and temperature. The other types of sensors being incorporated in EVs are pressure sensors, input and output speed sensors, and position sensors for measuring the position of the main traction motor.  The major sensor currently used in the EVs is the battery monitoring sensor (BMS) for the measurement of the battery’s health and the state of charge of the battery.

The rising demand for electric vehicles is expected to increase the sensor content in vehicles, especially in hybrid electric vehicles due to the coexistence of the internal combustion engine as well as an electric motor. The net sensor content in the propulsion unit is also expected to increase, which can further benefit the growth of sensor makers in the future due to the rising dominance of hybrid electric vehicles.

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