Automotive Sensors Market by share, size, Trend and Forecast

Automotive Sensors Market Size Global Forecast to 2025 COVID-19 Impact on the Global Automotive Sensors Market Automotive Sensors Market by share, size, Trend and Forecast

The latest Automotive Sensors market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the players in this market. The automotive sensors market is projected to grow from USD 24.5 billion in 2020 to USD 40.3 billion by 2025, at a CAGR 10.5% between 2020 and 2025.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=426&utm_source=Freprosonali&utm_medium=sonali&utm_campaign=sonali Increased global motor vehicle production, rise in demand for vehicle electrification, formulation of stringent government regulations related to emissions, and increase in consumer demand for safety and comfort in vehicles are the major factors driving the growth of the automotive sensors market.

COVID-19 has had a severe impact on the global automotive sensors market. This is witnessed in terms of disruptions in the export of Chinese parts, large-scale manufacturing interruptions across Europe, and closure of assembly plants in the US. The level of the impact depends on the effect of COVID-19 and the decision of governments regarding lockdown. 2019 was not favorable for the automotive industry, and now, COVID-19 could impact various M&A, collaborations, partnerships, and R&D activities. Vehicle production is expected to take a huge hit due to supply shortages and production suspensions. The demand for new vehicles in pandemic-affected countries is unlikely due to the lockdowns in effect. Due to the aforementioned factors, the automotive sensors market is expected to face a significant drop in 2020.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=426&utm_sourc e=Frepro-sonali&utm_medium=sonali&utm_campaign=sonali An alternative fuel vehicle is a vehicle that runs on a fuel other than traditional petroleum fuels, such as petrol or diesel. Alternative fuel vehicle also refers to any technology of powering an engine that does not involve petroleum (e.g., electric vehicles, hybrid electric vehicles, solarpowered vehicles) solely. Increasing the use of alternative fuels and vehicles will help reduce fuel costs of consumers, minimize pollution, and increase the energy security of nations. With the use of alternative fuel cars, the demand for automotive sensors would increase

significantly. The inclusion of new technologies and systems in vehicles has increased the scope of electrification. The installation of ADAS systems has taken the application of sensors in vehicles to a new level. The automotive industry has witnessed promising growth in vehicle electrification, especially in transmission systems, climate control, powertrain, safety systems, and exhaust. The installation of these systems in passenger cars has increased in recent years, driven by the growing economic status and changing preferences of consumers for better safety standards and comfort, and adoption of advanced technologies such as anti-lock braking system (ABS), electronic brakeforce distribution (EBD), airbags, and traction control. Hence, the demand for sensors has also grown in the passenger cars segment.

Increasing pollution has been a key factor for the drop in the sales of diesel vehicles across the globe. Air quality concerns and taxation changes have led to a significant decrease in diesel vehicle sales, contributing significantly for the fall of new car registrations worldwide.

Moreover, auto manufacturers will have to pay higher fines in the European region if their fleet violates regulated emission limits, which are expected to get more stringent. Diesel passenger cars register low sales volume in the passenger cars segment in all the regions except Europe.

This situation largely differs in other regions such as North America and Asia Pacific, where gasoline engines dominate the passenger cars market. Therefore, the low preference for diesel engine vehicles is a restraining factor for the automotive sensors market.

In recent years, autonomous cars have gained traction. There have been multiple fatal incidents involving autonomous vehicles, which had a Level 3 to Level 5 of autonomy, wherein the vehicle had limited human interaction. In March 2018, a self-driving/autonomous car hit a human in Arizona, US. This was the first case of pedestrian fatality observed during a test conducted by Uber, a company that offers ridesharing services. With the development of advanced sensors such as radar, LiDAR, and image sensors, OEMs are expected to adopt them in autonomous cars. However, OEMs and integrators must focus on making these sensors more accurate and reliable.

Key Market Players Robert Bosch (Germany), Continental AG (Germany), Delphi Automotive (UK), Denso Corporation (Japan), Infineon Technologies (Germany), Sensata Technologies (US), Allegro Microsystems (US), Analog Devices (US), Elmos Semiconductor (Germany), and CTS Corporation (US) are some of the key players in the automotive sensors market.

The automotive industry in APAC has been very dynamic over the past few years, owing to increasing per capita income of the middle-class population, and cost advantages for original equipment manufacturers (OEMs). The region is known for producing compact and costeffective cars and comprises some of the fastest-developing economies of the world, including China and India. APAC is estimated to be the largest market for automobiles in the world from 2020 to 2025. The growth of the automotive sensors market in APAC can be attributed to the growing population and rising income levels, which have led to increased demand for automobiles. The automotive sensors market in APAC has significant growth potential, owing to

low automobile production costs, easy availability of economical labor, lenient emission and safety norms, and government initiatives to support foreign direct investments (FDIs). The rise in the automobile production levels is accompanied by a growing inclination of consumers toward comfort, safety, and luxury, which is expected to fuel the demand for automotive sensors in APAC.

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