Automotive Sensors Market to reach 536.4 million units by 2026; Growing Investme

Posted by Rushikesh Pise on March 27th, 2020

Automotive sensors have witnessed rising popularity in recent years, owing to growing applications in the automotive and transportation industry. The demand for this product has increased drastically in recent years. The advent of sensor-based and AI-driven automobile have opened up a huge potential for market growth. Variations in product offerings have allowed applications across diverse domains. Additionally, the cost-effective nature of these products have led to a wider adoption across the world. The increasing uses of automotive sensors in several vehicles including passenger cars, transport vehicles, commercial, and personal vehicles will create several opportunities for market growth.

The global automotive sensors market will derive growth from the growing adoption for self-driving cars across the world. According to a report published by Fortune Business Insights, titled “Automotive Sensors Market Size, Share & Industry Analysis, By Sensor Type (Temperature Sensor, Pressure Sensor, Speed Sensor, Position Sensor, Others), By Application Type (Powertrain, Chassis, Exhaust, ADAS, and Others), By Vehicle Type (Passenger Car, LCV, HCV), and Regional Forecast, 2019-2026.” 

The report encompasses several factors that have contributed to the growth of the market in recent years. It highlights key aspects of the market and discusses leading product types, major companies and areas that have witnessed increased applications. The competitive landscape has been discussed in detail and companies that are likely to emerge leading have been labelled out. Furthermore, the report segments the automotive senor market on the basis of sensor type, applications, vehicle type, and regional demographics. It discusses the impact of leading segments from each of these criteria.