Automotive Sensors Market Expected to Expand at 8.6% CAGR, Reaching USD 44 Billion by 2033

The global automotive sensors market is projected to reach USD 19.2 billion in 2023 and is estimated to expand to USD 44 billion by 2033, with a compound annual growth rate (CAGR) of 8.6% over the forecast period.

The automotive sensors market has experienced notable growth recently, driven by the rising adoption of alternative fuels and vehicles. These advancements contribute to reduced fuel costs for consumers and bolster national energy security, thereby fueling market expansion. The increasing prevalence of alternative fuel vehicles is expected to further propel market growth throughout the forecast period. Additionally, the integration of advanced systems and technologies in automobiles is anticipated to positively influence market development in the coming years.

Modern vehicle safety systems now utilize side airbag pressure sensors to enhance passenger protection. These sensors, embedded in side doors, transmit digital crash signals to the central airbag control unit. Moreover, air pressure sensors improve engine efficiency by precisely controlling spark timing in both gasoline and diesel engines. As a result, the market is expected to grow, driven by the rising application of pressure sensors in both engine and safety systems.

In the near future, advancements in the autonomous capabilities of commercially available vehicles are expected to accelerate. This progress is fueled by stricter regulations and safety standards, particularly for emergency brake assist, and an increased focus on vehicle safety. Developed countries have already mandated features such as cruise control and lane-keeping assist in all vehicles, while regulations for blind-spot monitoring, especially in Europe, are gaining momentum.

Autonomous vehicles rely on long-range radar sensors to enable features like adaptive cruise control, along with approximately two medium-range radar sensors for blind spot detection. Additionally, up to 12 ultrasonic sensors are used for functionalities such as parking assistance. As the demand for autonomous driving features rises, the use of high-precision sensors is expected to increase correspondingly.

Comprehensive Market Insights: Full Report Overview

Key Takeaways from the Automotive Sensors Market Report:

• The United States automotive sensors market is expected to grow with a CAGR of 8.2% during the forecast period.
• The demand for automotive sensors in India is expected to grow with a CAGR of 8.6% during the forecast period.
• By vehicle type, passenger vehicles are projected to grow with a CAGR of 9.4% during the forecast period.
• The market in China is expected to grow with a significant CAGR of 8.4% throughout the forecast period.

Competitive Landscape:

The market for automotive sensors is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.

The key industry players are NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, STMicroelectronics, Texas Instruments Incorporated, Allegro Microsystems, LLC, CTS Corporation, Elmos Semiconductor, Sensata Technologies.

Recent Developments:

• In December 2022, Continental AG revealed its exclusive modules and sensors designed specifically for electromobility. The company showcased its Advanced Driver Assistance Systems (ADAS) integrated into the “CV3” SoC (System on Chip) family, which incorporates artificial intelligence (AI) technology from semiconductor startup Ambarella.
• In November 2022, Infineon Technologies AG launched the XENSIV TLE4971 family as the newest addition to their current sensor series designed for automotive applications. These devices provide accurate magnetic current sensing by utilizing proprietary temperature and stress compensation techniques, eliminating the negative impacts of magnetic cores such as hysteresis or saturation effects.
• In March 2022, CTS Corporation acquired TEWA Temperature Sensors SP. Zo.o. and its subsidiaries. This acquisition strengthens CTS’s temperature sensing platform and enhances its market presence in Europe.

Automotive Sensors Market Segmentation:

By Sensor Type:

• Position Sensors
  • Clutch Position Sensors
  • Gear Position Sensors
  • Throttle Position Sensors
  • Crankshaft Position Sensors
  • Steering Angle Position Sensors
  • Camshaft Position Sensors
• Safety Sensors
  • Seat Belt Sensors
  • Brake Switch Sensors
  • Door Switch Sensors
  • Blind Spot Detection
  • Night Vision Sensors
  • Light Sensors
  • Parking Sensors
  • Cruise Control
  • Impact Sensors
  • Anti-theft Sensors
• Level Sensors
  • Fuel Level Sensors
  • Coolant Level Sensors
  • Oil Level Sensors
• Oxygen Sensors
• Pressure Sensors
  • Tire Pressure Sensors
  • EGR Pressure Sensors
  • Airflow Rate Sensors
• Temperature Sensors
  • Engine Coolant Temperature Sensors
  • Rain/humidity Sensors
  • Oil/Fuel Temperature Sensors
  • Battery Temperature Sensors
  • Air Temperature Sensors
• Speed Sensors
  • Wheel Speed Sensors
  • Speedometer

By Vehicle Type:

• Passenger Cars
  • Compact
  • Midsize
  • Luxury
  • SUVs
• Light Commercial Vehicles
• Heavy Commercial Vehicles

By Sales Channel:

• Original Equipment Manufacturers
• Original Equipment Supplier Spare Parts
• Independent Aftermarket

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa